2. Who are we ?
• Fan Worldwide Limited is a Jersey based hotel
brokerage firm.
• We specialize in upmarket city and existing hotel’s
transactions.
• We are purposely small to better attend to private
buyers or sellers’ needs and concerns about
confidentiality.
• We average two to three private hotels deals a
year.
• I am the senior hotel consultant, financial adviser
and partner in the firm.
3. THREE 4 Stars freehold hotels portfolio for sale in:
BERLIN, SEVILLA, GRANADA
abba is a Spanish based Hotel brand whose assets are owned by its BV holding.
abba manages 20 hotels in: Berlin, London, Bratislava, Andorra, Santander,
Gijon,Comillas villacarriedo, Bilbao, Formigal, Burgos, Pampola, Huesca,
Barcelona, Madrid, Valencia, Alicante, Sevilla and Granada, Sanluca de
Barrameda.
10. Exclusive sale options
• Option #1, with a lease
• Option #2, vacant possession
• PURCHASE PROCESS, as laid out
11. Hotel Portfolio
Option #1- Lease
• First option will go to a sale offer with a ten years
lease with abba
• Based on a yearly flat rent of approx. 4% of the final
sale price
• abba would retain the management
• After ten years abba will not extend the lease unless
requested by the new owner
12. Guide line Price
Option#1
• The guide line price for option# 1 would be €80M (or
nearest offer)
• Total of 484 rooms
• Price per room € 165 289
• Including Fittings, Furniture & Equipment
• With a 10 year lease 4% (negotiable) of the final
sales price
• A share sale of each separate BV Holdings owning
each hotel asset only
13. Hotel Portfolio
Option#2- Unencombered
• The three hotel Portfolio without abba
• Berlin, Seville and Grenada sold together as
freehold and trading rights (business)
• total of 484 rooms
• NO lease back by abba hotel Management
• Share deal sale
• Vacant possession
14. Guide line Price
Option#2
• The guide line price would be € 90 M inclusive of
FF&E
• Nearest offer for the freehold and business (trading
rights) of the three hotels
• Total of 484 rooms
• Price per room € 185 950 or nearest offer.
15. YT Dec ’11 Portfolio
Consolidated P&L
• € 10.7M Total revenue 2011 for the three hotels
• Revpar €46 (room rev only)
• Goppar € 30 (all revenues)
• 53% cost of sale (of all revenue)
• 25% F&B to total revenue contribution
• 46 % GOP (of total revenue)
• € 3.245M NOP
16. HOTEL ABBA BERLIN +SEVILLA + GRANADA
PROFIT & LOSS ANALYSIS
MONTH YEAR 2011 YEAR 2010 % GROWTH
DECEMBER - 2011 MONTH ACCUMUL. MONTH ACCUMUL. MONTH ACCUMUL.
INCOME
ROOMS 584.263,58 7.518.697,66 489.989,58 7.213.499,69 19,24% 4,23%
FOOD AND BEVERAGE 257.797,40 2.637.155,57 212.823,53 2.443.127,95 21,13% 7,94%
DIFFERENT DEPARTMENTS 7.534,06 88.796,93 -7.012,99 91.907,17 -207,43% -3,38%
MEETING AND OTHERS 31.702,49 487.840,92 29.034,24 439.020,15 9,19% 11,12%
TOTAL INCOME 881.297,52 10.732.491,07 724.834,36 10.187.554,96 21,59% 5,35%
COST OF SALES
ROOMS 276.540,84 3.038.286,51 263.598,17 2.809.120,42 4,91% 8,16%
FOOD AND BEVERAGE 270.729,95 2.530.278,97 259.543,62 2.373.009,09 4,31% 6,63%
DIFFERENT DEPARTMENTS 2.924,36 75.874,58 -3.420,70 92.581,21 -185,49% -18,05%
MEETING AND OTHERS 1.474,73 64.786,84 -12.167,73 44.466,73 -112,12% 45,70%
TOTAL COST OF SALES 551.669,88 5.709.226,90 507.553,36 5.319.177,45 8,69% 7,33%
PROFIT
ROOMS 307.722,74 4.480.411,15 226.391,41 4.404.379,57 35,93% 1,73%
FOOD AND BEVERAGE -12.932,55 106.876,59 -46.720,09 70.118,86 -72,32% 52,42%
DIFFERENT DEPARTMENTS 4.609,70 12.922,34 -3.592,29 -674,04 -228,32% -2017,16%
MEETING AND OTHERS 30.227,76 423.054,08 41.201,97 394.553,42 -26,64% 7,22%
TOTAL PROFIT PER DEPARMENT 329.627,64 5.023.264,17 217.281,00 4.868.377,81 51,71% 3,18%
OTHER EXPENSES
ADMINISTRATION 26.792,00 453.973,09 27.095,47 458.253,45 -1,12% -0,93%
MARKETING 43.514,31 380.164,29 46.669,14 409.330,35 -6,76% -7,13%
ENERGY 45.575,24 702.740,10 43.949,12 587.821,96 3,70% 19,55%
REPAIRS-MAINTENANCE 43.892,86 411.061,68 43.449,67 412.606,59 1,02% -0,37%
TOTAL OTHER EXPENSES 159.774,40 1.947.939,15 161.163,40 1.868.012,35 -0,86% 4,28%
PROFIT MARGIN 169.853,24 3.075.325,02 56.117,60 3.000.365,46 202,67% 2,50%
% MARGIN 19,27% 28,65% 7,74% 29,45%
BUILDING RENTS
OPENING EXPENSES
OPERATING PROFIT 169.853,24 3.075.325,02 56.117,60 3.000.365,46 202,67% 2,50%
17. A 5 Step Process
• Step #1, Letter of Intent (LOI)
• Step #2, Qualification
• Step #3, Exclusivity & HOT
• Step #4, Evaluation
• Step #5, Sales Purchase Agreement (SPA)
18. Process
step#1: LOI
• A Letter Of Intent (LOI) is required on letter head from the
ultimate and potential buyer
• Addressed by email attachment to the owners of the abba 3
hotels Portfolio c/o Fan-worldwide Limited patrixduffar@fan-
worldwide-limited.com
Containing…
• The offered acquisition price
• The due diligence time frame required
• The non refundable deposit offered against an exclusivity
period required
• The proof of funds or a bank comfort letter duly attached
19. Process
step#2: Qualification
• By March 15th 2012 the seller will review the LOI’s
received
• Qualification of the one nearest to the asking price
• Confirmation whether your LOI is retained or not
• Signature between seller and buyer of a
confidentiality contract drafted by the seller’s
representatives
20. step#3: Exclusivity &
HOT
• Limited access to the data rooms will be granted to
the selected buyer
• The buyer’s lawyer will draft the HOT (Head of Terms
)(or MOU) in co-operation with the seller’s lawyer
• A deposit will be required in exchange for the
exclusivity period to be granted
• Signature of the HOT between buyer and seller will
take place and the non refundable deposit will be
paid at same time
21. Process
step#4: Evaluation
• A full due diligence is carried out for each holding
company owning theses assets, within the Heads of
Terms agreed and the exclusivity granted to the
buyer by the seller
• In the mean time the seller’s lawyer in co-operation
with the buyer’s lawyer drafts the SPA ( Sale and
Purchase Agreement)
22. Process
step#5: SPA
• The Sales and Purchase Agreement (SPA)draft is
finalised
• It is to be accepted and signed by both parties
(unless otherwise agreed) as per the Heads of Terms
or the expiration date of the the exclusivity period
• The signature will take place at the seller’s lawyer’s
office
• Full payment of the agreed purchase price of the
transfer of shares of the holdings and all fees must
be executed on the same day and time than the
signature of the SPA
23. Total Built Up Area (sqm)
of the Portfolio
• abba Berlin 12 236 sqm
• abba Seville 9 159 sqm
• abba Granada 8 540 sqm
= Total for the three hotels 29 935 sqm
Or €2 673 per sqm
24. Total Built Up Area (sqm)
of the Portfolio
• 214 rooms in Berlin
• 136 rooms in Granada
• 137 rooms in Seville
• Average Room area: 25 – 27 sqm
• In Berlin we have G+7 and G-1
• In Seville we have G+4 and G-2
• In Granada we have G+9 and G-1
28. abba Sevilla Areas
floors uses built surface
top floor 8 rooms, building systems 438,80 m2.
3ª 26 rooms 1.061,27 m2.
2ª 41 rooms 1.430,66 m2.
1ª 41 rooms 1.430,66 m2.
baja 21 rooms, hall-bar, reception, hotel systems 1.430,66 m2.
meeting lounges: 363
m2 restaurant: 152
semisótano restaurant-lounges, building systems 1.651,27 m2. m2
sótano parking, building systems 1.716,32 m2. 44 parking spaces
TOTALES HOTEL 9.159,64 m2.
30. abba Granada Areas
FLOOR USE BUILT SURFACE
2
roof building systems 57,78 m
2
9ª 8 rooms 310,77 m
2
8ª 8 rooms 310,77 m
2
7ª 8 rooms 310,77 m
2
6ª 8 rooms 310,77 m
2
5ª 8 rooms 310,77 m
2
4ª 8 rooms 310,77 m
2
3ª 8 rooms 570,39 m
2
2ª 37 rooms 1.475,38 m
2
1ª 41 rooms 1.558,42 m
2
baja bar-restaur.-lounges 1.420,53 m
meeting lounges 418m2 restaurant 250m2 bar: 185m2
hall reception
hall 567 m2
2
semisótano garage-hotel systems 1.593,78 m
garage 550 m2 41 parking spaces
2
TOTALES HOTEL 8.540,90 m
