Page 78 - Valor Hospitality Global Overview

TERM SHEET AND FEES

Proposal and Compensation

• Initial Project Review, Final Programming Plan & Technical Services as highlighted above in slides 39 & 40:

• X Rands per month excluding travel and subsistence expenses. This is a fully-inclusive price of all the services
noted.

NB. Valor typically charge x Rands per hotel project but should all 5 projects be signed at one time; Valor will offer a

single fee, discounted to reflect the portfolio assignment. Therefore pricing above is fully inclusive. Valor will also agree
a fixed timeline and fee cap once the project details are understood

• Pre-Opening Management Services as highlighted in slide 41:

• X Rands per month + travel and subsistence expenses. Duration lasts approximately 12 - 16 months from the
engagement and hire of key hotel Executives such as the General Manager through opening of the hotel. Fee carried
within a yet to be complied pre-opening budget which can be seen within the yet to be created pro forma /
development budget. It is assumed this timeline will be no longer than 16 months as noted, with a maximum cap of x
Rands

• It is important to note that Valor, unlike most management companies is a true full-service operator. This
means that every service provided (with the exception of possible differing accounting solutions) is fully
centralized and no additional fees are charged to the hotel property / properties unlike competing
management companies