Master in Tourism Management – IX edition – 2012-2013
1
BUSINESS
PLAN
July 2013
MULTIFUNCTION
«A LA PAGE» APART
HOTEL
IN M...
Master in Tourism Management – IX edition – 2012-2013
2
PROJECT OVERVIEW
• A 12000 square meter property on 20 levels is t...
Master in Tourism Management – IX edition – 2012-2013
Design the functional areas of the hotel by department in
terms of ...
Master in Tourism Management – IX edition – 2012-2013
The Business Plan is made up of 2 parts:
Analysis and research
Ana...
Master in Tourism Management – IX edition – 2012-2013
Benchmarking as a fundamental tool in order to
better understand th...
Master in Tourism Management – IX edition – 2012-2013
Hotel Benchmarking
16 urban hotels worldwide proposing fashionable
...
Master in Tourism Management – IX edition – 2012-2013
HOTELS BENCHMARK
Waldorf Astoria NewYork
by Hilton
Elegance
Luxury
V...
Master in Tourism Management – IX edition – 2012-2013
Budha Bar Hotel Paris
Neo-Asian design fused with the
French "art of...
Master in Tourism Management – IX edition – 2012-2013
Furama Silom Bangkok
ModernThai style
Creativity
Stunning atmosphere...
Master in Tourism Management – IX edition – 2012-2013
Restaurant Benchmarking
 The benchmark analysis of restaurants in M...
Master in Tourism Management – IX edition – 2012-2013
There are Finger’s Garden
which is new type of restaurant
quite inn...
Master in Tourism Management – IX edition – 2012-2013
Chandelier presenting an elegant
refined atmosphere nowhere found
i...
Master in Tourism Management – IX edition – 2012-2013
Lounge Bars Benchmarking
 Lounge Bars being a special place for soc...
Master in Tourism Management – IX edition – 2012-2013
World known lounge bars:
 Sanctuary, Dubai
 Grand Bar, Soho Grand
...
Master in Tourism Management – IX edition – 2012-2013
SPA and Fitness Benchmarking
 SPA and Fitness amenities as hotel se...
Master in Tourism Management – IX edition – 2012-2013
World known cases:
The Spa at The Chedi Muscat Hotel, Oman
Buddhat...
Master in Tourism Management – IX edition – 2012-2013
SPAs & Fitness Benchmark in Milan
Art SPA at Maison Moschino
QCTer...
Master in Tourism Management – IX edition – 2012-2013
Nightclubs benchmark
The nightclubs benchmark in Milan in Corso Como...
Master in Tourism Management – IX edition – 2012-2013
Milan’s best nightclub venues.
Hollywood
11 Clubroom
Fiat Open Lo...
Master in Tourism Management – IX edition – 2012-2013
1. The hotel brand and concept was defined – Hard
Rock Hotel (on San...
Master in Tourism Management – IX edition – 2012-2013
BRAND SOLUTION
The winner is:
HARD ROCK HOTEL SAN DIEGO CONCEPT
lux...
Master in Tourism Management – IX edition – 2012-2013
22
THE PERFECT
SOLUTION
BRAND DECISION BACK UP
• After a specific in...
Master in Tourism Management – IX edition – 2012-2013
Service level: 4 star luxury and glamour business
oriented
Locatio...
Master in Tourism Management – IX edition – 2012-2013
Studios Guestrooms are
anything but conventional.
Hard Rock Suites...
Master in Tourism Management – IX edition – 2012-2013
25
MARYJANE’S GROUND
FLOOR RESTAURANT
Master in Tourism Management – IX edition – 2012-2013
26
207 GROUND FLOOR
LOUNGE BAR
Master in Tourism Management – IX edition – 2012-2013
27
NOBU RESTAURANT
Master in Tourism Management – IX edition – 2012-2013
28
ROCK SPA-WELLENSS
AREA
Master in Tourism Management – IX edition – 2012-2013
29
TOP ROOF SWIMMING
POOL
Master in Tourism Management – IX edition – 2012-2013
LOUNGE BAR FLOAT TOP
ROOF
30
Master in Tourism Management – IX edition – 2012-2013
31
MEETING ROOMS FOR
BUSINESS
Master in Tourism Management – IX edition – 2012-2013
HARD ROCK HOTEL
MILANO
32
Master in Tourism Management – IX edition – 2012-2013
HARD ROCK HOTEL’S
AMENITIES
33
Master in Tourism Management – IX edition – 2012-2013
34
PART.2 PROJECT RESULTS
Master in Tourism Management – IX edition – 2012-2013
35
ROOM DEPARTMENT
STANDARD YEAR BEST YEAR
Room Department HP 2014 2...
Master in Tourism Management – IX edition – 2012-2013
Houskeeping Front Office
N. of shifts per department 1 3
Hours per s...
Master in Tourism Management – IX edition – 2012-2013
37
GRAPHS AND
STATISTICS
Master in Tourism Management – IX edition – 2012-2013
STANDARD YEAR BEST YEAR
Food & Beverage Ground Floor Restaurant
HP 2...
Master in Tourism Management – IX edition – 2012-2013
39
LOUNGE BAR GROUND
FLOOR
STANDARDYEAR BESTYEAR
Food& Beverage Grou...
Master in Tourism Management – IX edition – 2012-2013
40
TOP ROOF AREA
STANDARD YEAR BEST YEAR
Food & Beverage Top Roof Ar...
Master in Tourism Management – IX edition – 2012-2013
41
GRAPHS AND
STATISTICS
2014 2015 2016 2017
Master in Tourism Management – IX edition – 2012-2013
42
CONGRESS
AREA/MEETING ROOMS
STANDARDYEAR BESTYEAR
CONGRESSAREA/ME...
Master in Tourism Management – IX edition – 2012-2013
43
SPA FITNESS WELLNESS
AREA
STANDARDYEAR BESTYEAR
SPA-FITNESS-WELLN...
Master in Tourism Management – IX edition – 2012-2013
44
GRAPHS AND
STATISTICS
Master in Tourism Management – IX edition – 2012-2013
45
RESULTS-BUSINESS PLAN
2014-2017
YEAR 2014 % 2015 % 2016 % 2017 %
...
Master in Tourism Management – IX edition – 2012-2013
46
GRAPHS AND STATISTICS
Master in Tourism Management – IX edition – 2012-2013
47
INVESTMENT
HYPOTESIS
• GLOBAL INVESTMENT = 50.000.000,00 €
• OWNE...
Master in Tourism Management – IX edition – 2012-2013
48
• REVENUES ANNUAL GROWTH = 3%
• EBITDAR % ON TOTAL REVENUES = 31%...
Master in Tourism Management – IX edition – 2012-2013
49
LOAN PLAN 20 YEARS
YEAR QUOTA CAPITALE CAPITALE RESIDUO QUOTA INT...
Master in Tourism Management – IX edition – 2012-2013
50
INVESTMENT PAY-
BACK
REVENUES COSTS EBITDAR MARGIN BEFORE TAXESRE...
Master in Tourism Management – IX edition – 2012-2013
51
FINAL RESULT
Master in Tourism Management – IX edition – 2012-2013
52
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MTM IXth - Business Plan: Multifunction “A’ La Page” Apart-Hotel In Milan

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It's a 12,000 square meter property on 20 levels to be converted into a MULTIFUNCIONAL BUILDING, located in the heart of the “Milanese Movida”. The mixed-used building will combine several functions, namely an apart-hotel with 100/120 guest rooms and 30/40 apartments for sale and/or rent; and a number of other areas (to be defined) with different features: e.g. lounge-bar, spa, fitness area, fashion, conference, bars and discos … The complex also contains a large garden space and 6,000 square meters of basement space, currently used as parking area.
The intent is to make this “apart-hotel/complex” one of the most renowned in Milan’s fashion addicts’ environments as well as one of the nightlife hubs of Milan …
The first step is to do the market research that will help us define and zero in on our target market as well as inventory the existing competitive set. Which are the main nightspots and venues (bars, pubs, clubs, live music venues, roof-gardens, restaurants, fashion-clubs and so on..) that especially business people (but also VIPs, celebrities and jet set personalities, sports players and starlets, models, actors and yuppie), can find in the capital of Lombardy, the so called “Milano da Bere”? What type of service they do provide? What make them so popular? Are there any best cases in Europe as well?
It will be a "branded" Apart-hotel: thereby it’s important to define the most suitable operator

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MTM IXth - Business Plan: Multifunction “A’ La Page” Apart-Hotel In Milan

  1. 1. Master in Tourism Management – IX edition – 2012-2013 1 BUSINESS PLAN July 2013 MULTIFUNCTION «A LA PAGE» APART HOTEL IN MILAN Produced by: Anzhela Tanas Matteo Taller Bohdana Bukatar Valeria Maltceva Mariana Masotti Yulia Shinkareva TUTOR: Ing. Emilio Valdameri Progetto Turismo
  2. 2. Master in Tourism Management – IX edition – 2012-2013 2 PROJECT OVERVIEW • A 12000 square meter property on 20 levels is to be converted into a hotel located in the heart of the “Milanese Movida”. • The structure which is foreseen to be multifunctional one will combine several function areas namely an apart-hotel with a defined number of guest rooms and apartments for sale and/or for rent and other areas (outlets) with different features embedding the fashionable spirit of the city, location and target market.
  3. 3. Master in Tourism Management – IX edition – 2012-2013 Design the functional areas of the hotel by department in terms of the demand /offering, venues appropriateness according to the location and target market and define the type of services they will provide “Brand” the hotel and its outlets defined; propose the most suitable operator for the hotel and for every functional area Make the economical estimation for the complex revenues and costs and for every department apart for the next 5 years Estimate the capital and the time needed to cover the investment PROJECT OBJECTIVES
  4. 4. Master in Tourism Management – IX edition – 2012-2013 The Business Plan is made up of 2 parts: Analysis and research Analysis of the potential market including the market research of existing similar in functionality hotels in the major cities worldwide Analysis of the main nightspots and venues attended by business people and jet set personalities in Milan and other major cities as New York, Moscow ect. Project results The suitable hotel brand is determined The hotel scale is defined and economical outcomes of each department performance are estimated. Revenues and costs are estimated on department features basis according to the analysis results did in the first part. The estimated amount of investments are shown PROJECT STRUCTURE
  5. 5. Master in Tourism Management – IX edition – 2012-2013 Benchmarking as a fundamental tool in order to better understand the dynamics in place, to gain local information, discuss expectations and to commence the establishment of appropriate levels of service required in the area. Accounting methods as a tool to do calculations and give the assumptions a numeric form as a target to achieve METHODS
  6. 6. Master in Tourism Management – IX edition – 2012-2013 Hotel Benchmarking 16 urban hotels worldwide proposing fashionable distinguished service for high end, namely business clientele. All the hotels have specific outlets attended by famous and affluent young people being it the restaurant, the lounge bar, the conference venue or the SPA and Fitness areas as well as the nightlife entertainment. A particular attention was dedicated to Hard Rock Hotel San Diego preliminary estimated to be one of the best hotel matching our requirements. See Appendix 1 PART1. RESEARCH AND ANALYSIS
  7. 7. Master in Tourism Management – IX edition – 2012-2013 HOTELS BENCHMARK Waldorf Astoria NewYork by Hilton Elegance Luxury Versatile function spaces Lotte Hotel Moscow by Lotte Hotels & Resorts Modern twist Sanctuary Lounge Sophisticated amenities For more details see Appendix 1
  8. 8. Master in Tourism Management – IX edition – 2012-2013 Budha Bar Hotel Paris Neo-Asian design fused with the French "art of living” Innovative international cuisine Intimate exclusivity For further details seeAppendix 1 HOTELS BENCHMARK Swissotel Krasnye Holmy, Moscow Unsurpassed service & luxury City Space Bar Unreapeted experience
  9. 9. Master in Tourism Management – IX edition – 2012-2013 Furama Silom Bangkok ModernThai style Creativity Stunning atmosphere HOTELS BENCHMARK Lux 11 Berlin Mitte Cool hotel Fashion scene and design Exclusive meeting space For more details see Appendix 1
  10. 10. Master in Tourism Management – IX edition – 2012-2013 Restaurant Benchmarking  The benchmark analysis of restaurants in Milan known for the clientele they serve and the quality and level of service is provided. A short overview of restaurants is done with the aim to give the idea of the concept and the philosophy each restaurant conveys and the target market they cater to.  51 Restaurants in Milan were analyzed and 6 out of them were selected as the most appropriate. PART.1 RESTAURANTS BENCHMARK
  11. 11. Master in Tourism Management – IX edition – 2012-2013 There are Finger’s Garden which is new type of restaurant quite innovative and successful Gold by D&G as a way to both enrich and enlarge the brand concept of D&G Armani Nobu as a sophisticated blend of Italian lifestyle with the Japanese cuisine For more details seeAppendix 2 RESTAURANTS BENCHMARK
  12. 12. Master in Tourism Management – IX edition – 2012-2013 Chandelier presenting an elegant refined atmosphere nowhere found in the city; Just Cavalli Café embedding the Cavalli’s brand concept ofVIPness and uniqueness; Il Baretto attracting high end business clientele and hotspot celebrities due to refined atmosphere. SeeAppendix 1 RESTAURANTS BENCHMARK
  13. 13. Master in Tourism Management – IX edition – 2012-2013 Lounge Bars Benchmarking  Lounge Bars being a special place for socializing and relaxing demand an accurate selection. In this subpart we researched the most prominent and famous hotel lounge bars in the major worldwide cities analyzing their features which make them in demand as design, service provided, location, the target market.  23 lounge bars/bars were analyzed in Milan  The most renown lounge bars in the city have in common the brand they communicate as Bar Martini by D&G, JustCavalliCafe, Radetsky Bar, Il Baretto, La Cupola Lobby Lounge and Diana Garden. See Appendix 3 PART.1 LOUNGE BARS BENCHMARK
  14. 14. Master in Tourism Management – IX edition – 2012-2013 World known lounge bars:  Sanctuary, Dubai  Grand Bar, Soho Grand Hotel NewYork  The Rooftop Summer Garden O2 Lounge, Ritz Carlton Moscow  Met Bar, Metropolitan Hotel (COMO), London SeeAppendix 3 LOUNGE BARS BENCHMARK
  15. 15. Master in Tourism Management – IX edition – 2012-2013 SPA and Fitness Benchmarking  SPA and Fitness amenities as hotel services were analyzed. Insights featuring modern SPAs and Fitness amenities - apart from providing treatments and training, they stand for experience, customized unique services provided, themed offerings targeting the most demanding clientele.  The SPA and Fitness offerings in Corso Como – Garibaldi area in Milan were analyzed. The research showed an abundant supply in the area.  In total 10 SPA centers in Milan and the best known cases in the world were examined. See Appendix 4 PART.1 ANALYSIS AND RESEARCH
  16. 16. Master in Tourism Management – IX edition – 2012-2013 World known cases: The Spa at The Chedi Muscat Hotel, Oman Buddhatitude Spa at Budha Bar Hotel Budapest Rock SPA, Hard Rock Café Hotel, San Diego Nirvana Spa, Wokingham, UK See Appendix 4 SPA FITNESS BENCHMARK
  17. 17. Master in Tourism Management – IX edition – 2012-2013 SPAs & Fitness Benchmark in Milan Art SPA at Maison Moschino QCTermemilano The Armani Spa Milano BVLGARI Hotel Milano Carlton Hotel Baglioni Spa Hado Spa Milano Boscolo Hotel Milano Spa Four Seasons Hotel Spa See Appendix 4 SPA & FITNESS BENCHMARK
  18. 18. Master in Tourism Management – IX edition – 2012-2013 Nightclubs benchmark The nightclubs benchmark in Milan in Corso Como especially, known for the high concentration of nightclub venues, is presented in Appendix 5 The most famous among the fashion addicts and celebrities are: Hollywood, Just Cavalli Café, Armani Club Prive, Byblos PART.1 ANALYSIS AND REASERACH
  19. 19. Master in Tourism Management – IX edition – 2012-2013 Milan’s best nightclub venues. Hollywood 11 Clubroom Fiat Open Lounge Magazzini Generali Armani Prive Byblos Just Cavalli Café Milano See Appendix 5 NIGHTCLUB BENCHMARK
  20. 20. Master in Tourism Management – IX edition – 2012-2013 1. The hotel brand and concept was defined – Hard Rock Hotel (on San Diego Example basis) 2. The hotel outlets and amenities were determined: Ground floor restaurant, Ground floor lounge bar, 5 meeting rooms=1 balloon room, SPA and Fitness area on the last floor, Rooftop swimming pool and a rooftop restaurant. 3. The level of service to be provided was estimated BENCHMARKING OUTPUT
  21. 21. Master in Tourism Management – IX edition – 2012-2013 BRAND SOLUTION The winner is: HARD ROCK HOTEL SAN DIEGO CONCEPT luxury fashionable hotel providing nightlife and free- spirited entertainment possibilities for fashionable relatively young clientele. BENCHMARKING OUTPUT See appendix 7
  22. 22. Master in Tourism Management – IX edition – 2012-2013 22 THE PERFECT SOLUTION BRAND DECISION BACK UP • After a specific in-depth analysis of various hotel complexes worlwide we came up with one BRAND covering the entire hotel complex • In an interview with the CEO of Ramada Plaza Milano we discovered that involving different operatoras for each hotel outlet makes the structure management more complex • One UMBRELLA BRAND is the best solution if properly implemented
  23. 23. Master in Tourism Management – IX edition – 2012-2013 Service level: 4 star luxury and glamour business oriented Location – city downtown Gaslamp Quarter which is the city gateway for nightlife and entertainment options Feature: the hotel stay experience is a fusion of the Hard Rock concept with the city spirit Brand visibility – a world reknown name Accommodations – 420 guests rooms, 3 Studios, 3 Hard Rock Suites, 3 Rock Star Suites Amenities: Rock SPA, Rooftop Pool and Float Bar, 207 Lounge Bar, Maryjane’s Retsurant, Nobu Restaurant23 HARD ROCK HOTEL SAN DIEGO OVERVIEW
  24. 24. Master in Tourism Management – IX edition – 2012-2013 Studios Guestrooms are anything but conventional. Hard Rock Suites perfectly capture the authenticity and irreverence of rock 'n' roll. Rock Star Guestroom is a suite that’s sensual and stylish, with an air of unpredictability. SeeAppendix 6 HARD ROCK HOTEL ACCOMODATIONS
  25. 25. Master in Tourism Management – IX edition – 2012-2013 25 MARYJANE’S GROUND FLOOR RESTAURANT
  26. 26. Master in Tourism Management – IX edition – 2012-2013 26 207 GROUND FLOOR LOUNGE BAR
  27. 27. Master in Tourism Management – IX edition – 2012-2013 27 NOBU RESTAURANT
  28. 28. Master in Tourism Management – IX edition – 2012-2013 28 ROCK SPA-WELLENSS AREA
  29. 29. Master in Tourism Management – IX edition – 2012-2013 29 TOP ROOF SWIMMING POOL
  30. 30. Master in Tourism Management – IX edition – 2012-2013 LOUNGE BAR FLOAT TOP ROOF 30
  31. 31. Master in Tourism Management – IX edition – 2012-2013 31 MEETING ROOMS FOR BUSINESS
  32. 32. Master in Tourism Management – IX edition – 2012-2013 HARD ROCK HOTEL MILANO 32
  33. 33. Master in Tourism Management – IX edition – 2012-2013 HARD ROCK HOTEL’S AMENITIES 33
  34. 34. Master in Tourism Management – IX edition – 2012-2013 34 PART.2 PROJECT RESULTS
  35. 35. Master in Tourism Management – IX edition – 2012-2013 35 ROOM DEPARTMENT STANDARD YEAR BEST YEAR Room Department HP 2014 2015 2016 2017 N. of Rooms 120 120 120 120 Occupancy 45% 55% 65% 70% ADR (Bed and Breakfast) 265,00€ 280,00€ 290,00€ 280,00€ RevPar 119,25€ 154,00€ 188,50€ 196,00€ ROOM REVENUES 5.223.150,00€ 6.745.200,00€ 8.256.300,00€ 8.584.800,00€ Av. Person per room 1,3 1,3 1,3 1,3 Room Nights 19.710 24.090 28.470 30.660 Bed Nights 25.623 31.317 37.011 39.858 Working Days 365 365 365 365 Number of rooms per person 9 9 9 9 N.of salaries a year 14 14 14 14 Houskeeping substitutes 5 5 5 5 Houskeeping labour n. needed 11,0 12,3 13,7 14,3 Houskeeping Manager/Month Cost 3.000,00€ 3.000,00€ 3.000,00€ 3.000,00€ N. of Porters 4 4 5 5 Cost a month per Porter 1.800,00€ 1.800,00€ 1.800,00€ 1.800,00€ Front Office employees 10 10 10 10 Front Office Manager/Month Cost 5.000,00€ 5.000,00€ 5.000,00€ 5.000,00€ Houskeeping cost per person 2.000,00€ 2.000,00€ 2.000,00€ 2.000,00€ Houskeeping total cost 350.000,00€ 387.333,33€ 424.666,67€ 443.333,33€ Front Office Cost 450.800,00€ 450.800,00€ 476.000,00€ 476.000,00€ Room Department Total Cost 800.800,00€ 838.133,33€ 900.666,67€ 919.333,33€ total employees 21,00 21,00 22,00 22,00 cost per employee 38.133,33€ 39.911,11€ 40.939,39€ 41.787,88€ Room Department Pay Roll % (cost) 15,33% 12,43% 10,91% 10,71% Raw Materials % (cost) 4% 4% 4% 4% Other Costs % 10% 9% 8% 8% number Commissions % on booking 50% 50% 50% 50% Commission % of cost 15% 15% 15% 15%
  36. 36. Master in Tourism Management – IX edition – 2012-2013 Houskeeping Front Office N. of shifts per department 1 3 Hours per shift 8 8 Workers needed per shift 7,33 3,00 working days a week 5 5 working days a month 20 20 Holidays (days) 30 30 Permits (payed days) 5 5 Shifts per year per worker 205 205 Total Shifts per year to cover 2677 3285 Number of shifts covered by base n.of workers 1503 615 Extra Personnel needed 6 13 Total Personnel needed per dep. Managers included 13 16 36 ROOM DEPT. PERSONNEL
  37. 37. Master in Tourism Management – IX edition – 2012-2013 37 GRAPHS AND STATISTICS
  38. 38. Master in Tourism Management – IX edition – 2012-2013 STANDARD YEAR BEST YEAR Food & Beverage Ground Floor Restaurant HP 2014 2015 2016 2017 N. of seats 100 100 100 100 N.of tables (x 2pax) 50 50 50 50 N. of meals sold (LUNCH- WE) 50 60 60 65 N. of meals sold (DINNER WE) 150 170 170 180 N. of meals sold (DINNER WD) 120 130 130 140 N. of meals sold (LUNCH- WD) 100 100 100 100 Av. Price Meal (LUNCH WE) 45,00€ 50,00€ 50,00€ 50,00€ Av. Price Meal (DINNER WE) 70,00€ 75,00€ 75,00€ 80,00€ Av. Price Meal (LUNCH WD) 40,00€ 45,00€ 45,00€ 45,00€ Av. Price Meal (DINNER WD) 65,00€ 70,00€ 70,00€ 75,00€ Working Days WE 96 96 96 96 Working Days WD 231 231 231 231 WEEKEND REVENUES 1.224.000,00€ 1.512.000,00€ 1.512.000,00€ 1.694.400,00€ WEEKDAYS REVENUES 2.725.800,00€ 3.141.600,00€ 3.141.600,00€ 3.465.000,00€ TOTAL REVENUES 3.949.800,00€ 4.653.600,00€ 4.653.600,00€ 5.159.400,00€ Pay Roll % (cost) 50% 50% 50% 50% Raw Materials % (cost) 35% 35% 35% 35% Other Costs % 5% 5% 5% 5% TOTAL COSTS 3.554.820,00€ 4.188.240,00€ 4.188.240,00€ 4.643.460,00€ 38 F&B GROUND FLOOR RESTAURANT
  39. 39. Master in Tourism Management – IX edition – 2012-2013 39 LOUNGE BAR GROUND FLOOR STANDARDYEAR BESTYEAR Food& Beverage GroundLounge BarHP24 hours 2014 2015 2016 2017 N.of seats 50 50 50 50 N.of GuestsservedadayWE 60 70 70 75 N.of GuestsservedadayWD 80 90 90 100 Av.Price perpersonWE 15,00€ 17,00€ 17,00€ 20,00€ Av.Price perpersonWD 13,00€ 15,00€ 15,00€ 18,00€ WorkingDaysWE 96 96 96 96 WorkingDaysWD 231 231 231 231 WEEKENDREVENUES 86.400,00€ 114.240,00€ 114.240,00€ 144.000,00€ WEEKDAYSREVENUES 240.240,00€ 311.850,00€ 311.850,00€ 415.800,00€ TOTALREVENUESLOUNGEBAR 326.640,00€ 426.090,00€ 426.090,00€ 559.800,00€ PayRoll % (cost) includesBreakfastlabour 50% 50% 50% 50% RawMaterials% (cost) 30% 30% 30% 30% OtherCosts% 5% 5% 5% 5% TOTALCOSTS 277.644,00€ 362.176,50€ 362.176,50€ 475.830,00€
  40. 40. Master in Tourism Management – IX edition – 2012-2013 40 TOP ROOF AREA STANDARD YEAR BEST YEAR Food & Beverage Top Roof Area HP 24hour 2014 2015 2016 2017 N. of seats Restaurant 40 40 40 40 N. of seats Lounge Bar 20 20 20 20 N. of meals sold (DINNER WE) 40 45 50 60 N. of meals sold (DINNER WD) 40 40 40 45 N. of people served (LOUNGE- WD) 25 30 30 40 N. of people served (LOUNGE-WE) 25 30 30 40 Av. Price (LOUNGE WE) 17,00€ 18,00€ 18,00€ 20,00€ Av. Price Meal (DINNER WE) 75,00€ 80,00€ 80,00€ 90,00€ Av. Price (LOUNGE WD) 16,00€ 17,00€ 17,00€ 19,00€ Av. Price Meal (DINNER WD) 70,00€ 75,00€ 75,00€ 80,00€ Working Days WE 96,00 96,00 96,00 96,00 Working Days WD 231,00 231,00 231,00 231,00 WEEKEND REVENUES 328.800,00€ 397.440,00€ 435.840,00€ 595.200,00€ WEEKDAYS REVENUES 739.200,00€ 810.810,00€ 810.810,00€ 1.007.160,00€ TOTAL TOP ROOF REVENUES 1.068.000,00€ 1.208.250,00€ 1.246.650,00€ 1.602.360,00€ Pay Roll % (cost) 45% 45% 45% 45% Raw Materials % (cost) 35% 35% 35% 35% Other Costs % 5% 5% 5% 5% TOTAL COSTS 907.800,00€ 1.027.012,50€ 1.059.652,50€ 1.362.006,00€
  41. 41. Master in Tourism Management – IX edition – 2012-2013 41 GRAPHS AND STATISTICS 2014 2015 2016 2017
  42. 42. Master in Tourism Management – IX edition – 2012-2013 42 CONGRESS AREA/MEETING ROOMS STANDARDYEAR BESTYEAR CONGRESSAREA/MEETING ROOMS 2014 2015 2016 2017 Available Rooms 120 120 120 120 Av.Personperroom 1,3 1,3 1,3 1,3 Hotel Occupancy 45,00% 55,00% 65,00% 70,00% Average Price peruser 12,00€ 12,00€ 15,00€ 15,00€ %ofusersmeetingrooms 10% 12,5% 15% 15% WorkingDays 330 330 330 330 Annual N.ofusers 2316,60 3539,25 5019,30 5405,40 TOTALREVENUESFORCONGRESSAREA 27.799,20€ 42.471,00€ 75.289,50€ 81.081,00€ N.ofassistantsforthe rooms 2 2 2 2 AvCostperassistantamonth 2.300,00€ 2.400,00€ 2.500,00€ 2.500,00€ N.ofMonthspayedayear 14 14 14 14 PayRollCost(Annual) 64.400,00€ 67.200,00€ 70.000,00€ 70.000,00€ Othercosts 1% 1% 1% 1% TOTALCOSTS 64.677,99€ 67.624,71€ 70.752,90€ 70.810,81€
  43. 43. Master in Tourism Management – IX edition – 2012-2013 43 SPA FITNESS WELLNESS AREA STANDARDYEAR BESTYEAR SPA-FITNESS-WELLNESSAREAHP 2014 2015 2016 2017 %ofguestsusingspa 5% 6% 7% 8% N.ofpeopleperday(Entry) 3,51 5,15 7,10 8,74 N.ofpeopleayear 1281,15 1879,02 2590,77 3188,64 Sauna+SteamBath+Poolprice -€ -€ -€ -€ %peoplepayngfortreatment 50% 50% 50% 50% Massages/treatmentavprice 90,00€ 95,00€ 95,00€ 100,00€ TOTALSPAREVENUES 57.651,75€ 89.253,45€ 123.061,58€ 159.432,00€ OpenDays 365 365 365 365 Professionistiesterni5people 160.000,00€ 170.000,00€ 170.000,00€ 180.000,00€ OtherCosts% 10% 10% 10% 10% TOTALCOSTS 165.765,18€ 178.925,35€ 182.306,16€ 195.943,20€
  44. 44. Master in Tourism Management – IX edition – 2012-2013 44 GRAPHS AND STATISTICS
  45. 45. Master in Tourism Management – IX edition – 2012-2013 45 RESULTS-BUSINESS PLAN 2014-2017 YEAR 2014 % 2015 % 2016 % 2017 % REVENUES 10.653.040,95€ 100,00% 13.164.864,45€ 100,00% 14.780.991,08€ 100,00% 16.146.873,00€ 100,00% PayRolls 3.320.735,00€ 31,17% 3.988.890,83€ 30,30% 4.071.504,17€ 27,55% 4.569.995,33€ 28,30% AnnualSPAArea 160.000,00€ 1,50% 170.000,00€ 1,29% 170.000,00€ 1,15% 180.000,00€ 1,11% RawMaterials 2.063.148,00€ 19,37% 2.449.282,50€ 18,60% 2.523.166,50€ 17,07% 2.877.948,00€ 17,82% OtherCosts 795.580,17€ 7,47% 930.815,06€ 7,07% 989.880,05€ 6,70% 1.069.616,01€ 6,62% OVERALLCOSTS 0,00% 0,00% 0,00% 0,00% A)Director-GeneralM. 100.000,00€ 0,94% 110.000,00€ 0,84% 120.000,00€ 0,81% 120.000,00€ 0,74% B)SalesManager 60.000,00€ 0,56% 60.000,00€ 0,46% 65.000,00€ 0,44% 68.000,00€ 0,42% C)Commissions 391.736,25€ 3,68% 505.890,00€ 3,84% 619.222,50€ 4,19% 643.860,00€ 3,99% D)G&A 155.000,00€ 1,45% 155.000,00€ 1,18% 160.000,00€ 1,08% 160.000,00€ 0,99% E)Maintenance 213.060,82€ 2,00% 302.791,88€ 2,30% 384.305,77€ 2,60% 484.406,19€ 3,00% F)Marketing 104.463,00€ 0,98% 134.904,00€ 1,02% 206.407,50€ 1,40% 214.620,00€ 1,33% TOTALCOSTS 7.363.723,24€ 69,12% 8.807.574,27€ 66,90% 9.309.486,49€ 62,98% 10.388.445,53€ 64,34% EBITDAR 3.289.317,71€ 30,88% 4.357.290,18€ 33,10% 5.471.504,59€ 37,02% 5.758.427,47€ 35,66%
  46. 46. Master in Tourism Management – IX edition – 2012-2013 46 GRAPHS AND STATISTICS
  47. 47. Master in Tourism Management – IX edition – 2012-2013 47 INVESTMENT HYPOTESIS • GLOBAL INVESTMENT = 50.000.000,00 € • OWNER’S MONEY = 15.000.000,00 € • BANK LOAN = 35.000.000,00 € • TAX RATE (year) = 5% • LENGTH OF LOAN = 20 years
  48. 48. Master in Tourism Management – IX edition – 2012-2013 48 • REVENUES ANNUAL GROWTH = 3% • EBITDAR % ON TOTAL REVENUES = 31% FUTURE TREND HYPOTESIS
  49. 49. Master in Tourism Management – IX edition – 2012-2013 49 LOAN PLAN 20 YEARS YEAR QUOTA CAPITALE CAPITALE RESIDUO QUOTA INTERESSI TOTALE RATA 2014 1.058.490,55€ 33.941.509,45€ 1.750.000,00€ 2.808.490,55€ 2015 1.111.415,08€ 32.830.094,37€ 1.697.075,47€ 2.808.490,55€ 2016 1.166.985,83€ 31.663.108,54€ 1.641.504,72€ 2.808.490,55€ 2017 1.225.335,12€ 30.437.773,41€ 1.583.155,43€ 2.808.490,55€ 2018 1.286.601,88€ 29.151.171,53€ 1.521.888,67€ 2.808.490,55€ 2019 1.350.931,98€ 27.800.239,55€ 1.457.558,58€ 2.808.490,55€ 2020 1.418.478,57€ 26.381.760,98€ 1.390.011,98€ 2.808.490,55€ 2021 1.489.402,50€ 24.892.358,48€ 1.319.088,05€ 2.808.490,55€ 2022 1.563.872,63€ 23.328.485,85€ 1.244.617,92€ 2.808.490,55€ 2023 1.642.066,26€ 21.686.419,59€ 1.166.424,29€ 2.808.490,55€ 2024 1.724.169,57€ 19.962.250,02€ 1.084.320,98€ 2.808.490,55€ 2025 1.810.378,05€ 18.151.871,97€ 998.112,50€ 2.808.490,55€ 2026 1.900.896,95€ 16.250.975,02€ 907.593,60€ 2.808.490,55€ 2027 1.995.941,80€ 14.255.033,21€ 812.548,75€ 2.808.490,55€ 2028 2.095.738,89€ 12.159.294,32€ 712.751,66€ 2.808.490,55€ 2029 2.200.525,84€ 9.958.768,49€ 607.964,72€ 2.808.490,55€ 2030 2.310.552,13€ 7.648.216,36€ 497.938,42€ 2.808.490,55€ 2031 2.426.079,73€ 5.222.136,63€ 382.410,82€ 2.808.490,55€ 2032 2.547.383,72€ 2.674.752,91€ 261.106,83€ 2.808.490,55€ 2033 2.674.752,91€ -€ 133.737,65€ 2.808.490,55€
  50. 50. Master in Tourism Management – IX edition – 2012-2013 50 INVESTMENT PAY- BACK REVENUES COSTS EBITDAR MARGIN BEFORE TAXESRETURN PAYBACK 10.653.040,95€ 7.363.723,24€ 3.289.317,71€ 480.827,16€ 3,21% 13.164.864,45€ 8.807.574,27€ 4.357.290,18€ 1.548.799,63€ 10,33% 14.780.991,08€ 9.309.486,49€ 5.471.504,59€ 2.663.014,04€ 17,75% 16.146.873,00€ 10.388.445,53€ 5.758.427,47€ 2.949.936,91€ 19,67% 16.631.279,19€ 11.475.582,64€ 5.155.696,55€ 2.347.206,00€ 15,65% 17.130.217,57€ 11.819.850,12€ 5.310.367,45€ 2.501.876,89€ 16,68% 17.644.124,09€ 12.174.445,62€ 5.469.678,47€ 2.661.187,92€ 17,74% 18.173.447,82€ 12.539.678,99€ 5.633.768,82€ 2.825.278,27€ 18,84% 15.152.848,55€ 18.718.651,25€ 12.915.869,36€ 5.802.781,89€ 2.994.291,34€ 19,96% 19.280.210,79€ 13.303.345,44€ 5.976.865,34€ 3.168.374,79€ 21,12% 19.858.617,11€ 13.702.445,81€ 6.156.171,30€ 3.347.680,75€ 22,32% 20.454.375,62€ 14.113.519,18€ 6.340.856,44€ 3.532.365,89€ 23,55% 21.068.006,89€ 14.536.924,76€ 6.531.082,14€ 3.722.591,59€ 24,82% 21.700.047,10€ 14.973.032,50€ 6.727.014,60€ 3.918.524,05€ 26,12% 22.351.048,51€ 15.422.223,47€ 6.928.825,04€ 4.120.334,49€ 27,47% 23.021.579,97€ 15.884.890,18€ 7.136.689,79€ 4.328.199,24€ 28,85% 23.712.227,37€ 16.361.436,88€ 7.350.790,48€ 4.542.299,93€ 30,28% 24.423.594,19€ 16.852.279,99€ 7.571.314,20€ 4.762.823,65€ 31,75% 25.156.302,01€ 17.357.848,39€ 7.798.453,62€ 4.989.963,07€ 33,27% 25.910.991,07€ 17.878.583,84€ 8.032.407,23€ 5.223.916,68€ 34,83%
  51. 51. Master in Tourism Management – IX edition – 2012-2013 51 FINAL RESULT
  52. 52. Master in Tourism Management – IX edition – 2012-2013 52
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