Page 99 - Valor Hospitality Partners - Casa Anfa Project

CASA ANFA - 5 STAR 130 KEYS (SLIDE 2 OF 2)

YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5
DEPARTMENTAL PROFIT:
ROOM $3,402,344 82.0% $225.50 $6,578,345 82.0% $239.03 $7,383,746 82.0% $250.99 $7,926,728 82.0% $261.02 $8,314,829 82.0% $268.85
FOOD & BEVERAGE $832,640 40.0% $55.19 $1,362,914 41.0% $49.52 $1,505,229 41.0% $51.17 $1,579,140 41.0% $52.00 $1,626,637 41.0% $52.60
SPA $140,000 40.0% $9.28 $280,000 40.0% $10.17 $294,000 40.0% $9.99 $302,820 40.0% $9.97 $311,905 40.0% $10.09

OTHER INCOME $50,000 50.0% $3.31 $91,232 50.0% $3.31 $93,969 50.0% $3.19 $96,788 50.0% $3.19 $99,691 50.0% $3.22
RENTS & OTHER (Parking) $50,000 100.0% $3.31 $91,095 100.0% $3.31 $93,828 100.0% $3.19 $96,643 100.0% $3.18 $99,542 100.0% $3.22
TOTAL DEPARTMENTAL PROFIT $4,474,984 66.5% $296.59 $8,403,586 68.2% $305.35 $9,370,772 68.4% $318.53 $10,002,119 68.7% $329.36 $10,452,604 68.8% $337.98
UNDISTRIBUTED OPER. EXPENSES:
ADMINISTRATIVE & GENERAL $370,194 5.5% $24.54 $492,804 4.0% $17.91 $505,124 3.7% $17.17 $517,752 3.6% $17.05 $530,696 3.5% $17.16
CREDIT CARD FEES $134,616 2.0% $8.92 $246,402 2.0% $8.95 $273,852 2.0% $9.31 $291,311 2.0% $9.59 $303,723 2.0% $9.82

INFORMATION TECHNOLOGY $67,308 1.0% $4.46 $73,921 0.6% $2.69 $75,769 0.6% $2.58 $77,663 0.5% $2.56 $79,605 0.5% $2.57
FRANCHISE FEES (% of GRR) $124,476 3.0% $8.25 $280,783 3.5% $10.20 $360,183 4.0% $12.24 $435,003 4.5% $14.32 $507,002 5.0% $16.39
BRAND FEES - All OTHER $165,968 4.0% $11.00 $320,895 4.0% $11.66 $360,183 4.0% $12.24 $386,670 4.0% $12.73 $405,601 4.0% $13.11
SALES & MARKETING $673,080 10.0% $44.61 $862,408 7.0% $31.34 $890,021 6.5% $30.25 $873,934 6.0% $28.78 $911,168 6.0% $29.46
UTILITIES $403,848 6.0% $26.77 $492,804 4.0% $17.91 $547,705 4.0% $18.62 $582,623 4.0% $19.19 $607,445 4.0% $19.64
REPAIRS & MAINTENANCE $215,386 3.2% $14.28 $332,643 2.7% $12.09 $356,008 2.6% $12.10 $364,139 2.5% $11.99 $379,653 2.5% $12.28
TOTAL UNDIST. OPER. EXPENSES $2,154,876 32.0% $142.82 $3,102,660 25.2% $112.74 $3,368,845 24.6% $114.51 $3,529,095 24.2% $116.21 $3,724,893 24.5% $120.44
GROSS OPERATING PROFIT $2,320,108 34.5% $153.77 $5,300,926 43.0% $192.61 $6,001,927 43.8% $204.02 $6,473,024 44.4% $213.15 $6,727,711 44.3% $217.54

FIXED EXPENSES:
REAL ESTATE / PROPERTY TAXES $0 0.0% $0.00 $0 0.0% $0.00 $0 0.0% $0.00 $0 0.0% $0.00 $0 0.0% $0.00
INSURANCE $0 0.0% $0.00 $0 0.0% $0.00 $0 0.0% $0.00 $0 0.0% $0.00 $0 0.0% $0.00
MANAGEMENT FEES $201,924 3.00% $13.38 $369,603 3.00% $13.43 $410,779 3.00% $13.96 $436,967 3.00% $14.39 $455,584 3.00% $14.73

FIXED OTHER $0 0.0% $0.00 $0 0.0% $0.00 $0 0.0% $0.00 $0 0.0% $0.00 $0 0.0% $0.00
TOTAL FIXED EXPENSES $201,924 3.0% $13.38 $369,603 3.0% $13.43 $410,779 3.0% $13.96 $436,967 3.0% $14.39 $455,584 3.0% $14.73
EBITDA $2,118,184 31.5% $140.39 $4,931,323 40.0% $179.18 $5,591,148 40.8% $190.05 $6,036,057 41.4% $198.76 $6,272,127 41.3% $202.80
INCENTIVE MANAGEMENT FEE $0 TBD $0.00 $0 TBD $0.00 $0 TBD $0.00 $0 TBD $0.00 $0 TBD $0.00
REPLACEMENT RESERVES $134,616 2.0% $8.92 $369,603 3.0% $13.43 $547,705 4.0% $18.62 $582,623 4.0% $19.19 $607,445 4.0% $19.64
NET OPERATING INCOME $1,983,568 29.5% $131.47 $4,561,720 37.0% $165.75 $5,043,443 36.8% $171.43 $5,453,434 37.4% $179.58 $5,664,682 37.3% $183.16