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warapuru hotel & villa estate
itacare ñ bahia - brazil
investor presentation
November 2008
Reception & spa
investment highlights
ï Warapuru will be the finest hotel and destination spa project in South America
ï Genuinely a one-o...
warapuru hotel & villa estate ñ investor presentation ñ november 2008
Warapuru site, a private cove embraced by the atlant...
Warapuru
ï Warapuru, Itacare, Brazilís first 6 star resort, comprises an hotel with 40 bungalows, a Spa, 2 beach
clubs and...
master plan
ïtotal site area: 80ha
ïtotal built area: 70.000 sqm
ïreception building: (total built area: 3.700 sqm) stunni...
Warapuru ñ the villa and bungalow designs
Bungalow unit Bungalow unit Bungalow unit
Bungalow unit Bungalow unit Villa unit...
warapuru hotel & villa estate ñ investor presentation ñ november 2008
Villa pool & terrace
Villa living
hotel and villa op...
Warapuru site photos
Villa bedroom Villa terraces and pools
Villa terraces and living
Villa bedroom
warapuru hotel & villa...
Warapuru site photos
warapuru hotel & villa estate ñ investor presentation ñ november 2008
Hotel bungalow
Hotel bungalow H...
warapuru hotel & villa estate ñ investor presentation ñ november 2008
Background of the development company Harmattan Ltda...
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Warapuru Hotel & Villa Estate Itacare - Bahia - Brazil - Miguel Guedes de Sousa

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Warapuru Hotel & Villa Estate Itacare - Bahia - Brazil
Investor Presentation November 2008

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Warapuru Hotel & Villa Estate Itacare - Bahia - Brazil - Miguel Guedes de Sousa

  1. 1. warapuru hotel & villa estate itacare ñ bahia - brazil investor presentation November 2008 Reception & spa
  2. 2. investment highlights ï Warapuru will be the finest hotel and destination spa project in South America ï Genuinely a one-of-a-kind resort created with a build generosity and design aesthetic as yet unseen and quite unrivalled on the Continent ï Situated in a spectacular, never to be compromised area of pristine natural beautyÖ.and in one of the hippest new destinations on the planet ï The interest of opinion-leading media and resort operators of the highest calibre only confirms the buzz about Warapuru ï The phase 1&2 villa estate has been pre-sold at record breaking prices for Brazil ï Lower risk profile by far than rival projects. Completion risk and timing very attractive ñ construction of hotel and phase 1&2 villa estate is well advanced: third and final phase soon to be permitted and ready for release next year. ï The proposal benefits from nearly 5 years of sunk cost and investment in a complex environment where competing offerings are far behind. The deal will be structured for additional risk mitigation, giving excellent risk adjusted returns warapuru hotel & villa estate ñ investor presentation ñ november 2008 spa Beach club
  3. 3. warapuru hotel & villa estate ñ investor presentation ñ november 2008 Warapuru site, a private cove embraced by the atlantic rain forest
  4. 4. Warapuru ï Warapuru, Itacare, Brazilís first 6 star resort, comprises an hotel with 40 bungalows, a Spa, 2 beach clubs and the operation of a 45 villa estate ï Spectacular location within a Unesco World Heritage protected coastal rainforest reserve ï Itacare, chosen as one of the worldís top destinations by the New York Times, is fast becoming the hippest destination in Brazil ï Breathtaking design by Anouska Hempel Design, known for the Blakes Hotels in London and Amsterdam and The Hempel, London ï Warapuru is one of the most anticipated resort openings globally in the top international press (CondÈ Nast, Robb Report, NY Times, Financial Times, wallpaper, Nota Bene, etc.) ï Villa development consists of 45 villas in 3 phases. phases 1&2 (17 Villas) already pre-sold commanding prices up to 4,6 M USD per villa. Phase 3 (28 villas) is already under permitting, with pre- sales expected by end 2009 ï Construction well-advanced - hotel and phase 1&2 is 65% concluded. Opening scheduled for end 2009 Villa bathroom warapuru hotel & villa estate ñ investor presentation ñ november 2008 Villa ñ view of entrance from Living room Villa bathroom
  5. 5. master plan ïtotal site area: 80ha ïtotal built area: 70.000 sqm ïreception building: (total built area: 3.700 sqm) stunning clifftop position 85 m above beach level, with reception, library, shops, expansive lounge and exhibition areas, bar and light meal areas ïspa: (total built area: 2.150 sqm) built into hillside below the reception complex level, five ultra luxurious treatment rooms, each with a private pool, opening onto fantastic intimate views over the beach and rainforest. Fitness room, central cantilivered lap pool, vast, airy relaxation and lounging areas. beach club: (total built area: 2.600 sqm) sits on an elevated site 15m above beach level, with a 35m long swimming pool, expansive sunlounging timber deck on the ground level and a panoramic restaurant and bar area on the first floor ïhotel bungalows: (built areas 160 sqm to 460 sqm) 40 independent bungalows in 5 different types, each with its individual pool, dotted around the property near the beach. ïvillas phase 1&2: 17 villas (each with 4, 5 and 6 suites with built areas from 950 sqm to 2.300 sqm) located on the ridges around the reception building with amazing views over the rain forest and beach beyond. ïvillas phase 3: on adjacent land overlooking a second secluded beach, phase 3 has a 28 villa development currently in planning. The villas of 4 & 5 suites (average 900 m2 built area) will have free access to the hotel areas. A second beach club will be built above the beach. warapuru hotel & villa estate ñ investor presentation ñ november 2008
  6. 6. Warapuru ñ the villa and bungalow designs Bungalow unit Bungalow unit Bungalow unit Bungalow unit Bungalow unit Villa unit Villa unit Villa unit Villa unit warapuru hotel & villa estate ñ investor presentation ñ november 2008
  7. 7. warapuru hotel & villa estate ñ investor presentation ñ november 2008 Villa pool & terrace Villa living hotel and villa operation (stabilised - year 5) ïbungalow rooms available: 40 ïvilla rooms available: 148 ïtotal rooms available: 188 ïoccupancy rate bungalows: 65% ïoccupancy rate villas: 25% ïaverage bungalow daily revenue: US$900 ïaverage villa daily revenue: US$3.940 ïdistribution to villa owners: 50% villa revenues ïEBITDA: US$10,6 million ïterminal value (10% cap rate): US$85,6 million Phase 3 villa development ïnumber of villas: 28 ïaverage size of villas: 900 sqm ïtotal development costs: US$71 million ïsales price per sqm: US$7,000 ïtotal sales: US$176 million ïestimated profit: US$105 million key figures
  8. 8. Warapuru site photos Villa bedroom Villa terraces and pools Villa terraces and living Villa bedroom warapuru hotel & villa estate ñ investor presentation ñ november 2008
  9. 9. Warapuru site photos warapuru hotel & villa estate ñ investor presentation ñ november 2008 Hotel bungalow Hotel bungalow Hotel bungalow Bathroom detaill Villa entrance
  10. 10. warapuru hotel & villa estate ñ investor presentation ñ november 2008 Background of the development company Harmattan Ltda, and its shareholders Hotel bungalow ñ sink detail ï The development company, Harmattan Ltda, is a brazilian company specifically created to develop warapuru. ï The main sponsors behind Harmattan are the brothers Diogo and Joao Vaz Guedes, and their cousin Robrigo Croft de Moura, who have all been for more than 15 years senior managers in their family business in Portugal, one of the largest construction companies in Portugal (Somague), with turnover above Euro 2 billion, and business activity in Portugal, Brazil and Africa. ï Diogo, has led Somague to become the largest construction group in Portugal before merging it with Spanish giant Sacyr-Vallermoso in 2004, where he is now vice-president and member of the executive board. ï Joao was responsible for important regional markets in Somague representing more than Euro 300 million turnover and for the development of the renewable energy business (more than 200 MW in Wind farms) before selling it to Endesa with exceptional returns. ï Rodrigo headed Somagueís activities in challenging markets as the Cabo Verde archipelago in Africa ï The idea to develop a project like warapuru was a growing dream from the sponsors, inspired by their traveling around the world. ItacarÈís unique nature, and the relatively low land and construction prices, were the trigger to start the project in a country where the sponsors had already some business activity. ï Joao has been overseeing the development of Warapuru since 2001 at Itacare, where he spends more than a week per month.

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