P - L Glamping Blue Tree

Cover
L.B Aresia Co.,Ltd.
Project Development Model
Project Name: Blue Tree Eco-Lodge

Email Address : bruno@lbaresia.com
Website : www.lbaresia.com
Assumptions
2023E Jan-01 Feb-01 Mar-01 Apr-01 May-01 Jun-01 Jul-01 Aug-01 Sep-01 Oct-01 Nov-01 Dec-01 2024E 2025E
Project Assumptions
Project
Name Blue Tree Eco-Lodge
Country of project Thailand
Transaction type Project Development
Fiscal Year Ends 31/12
Currency THB
Tax rate 20.00%
Room units 32
First Year of Model 2024 Proforma effect from January 1st 2024
Pre-opening Year 2023
Opening balance sheet as of 1/1/2024
Project Valuation Assumptions Structuring & financing (Sources & Uses) Cost of debt
In THB Loan financing (senior secured)
Land Cost Maturity
Interest
Building Cost Sources THB % of total
rate %
Uses THB % of total
Interest during Construction - From yr 1 to yr 2
Project Cost Debt - Project Cost - - yr 3
Equity - - Interest during Construction - - From yr 4 to yr 8
Total Sources - Total Uses - Interest income rate on cash (%)
Forecast Drivers
Fiscal Year Ends 31/12 2023E Jan-01 Feb-01 Mar-01 Apr-01 May-01 Jun-01 Jul-01 Aug-01 Sep-01 Oct-01 Nov-01 Dec-01 2024E 2025E
Effective nb of days in a year 366 366 366 365 365 365 365 365 365 365 365 365 365 365 365
Effective nb of months in a year 12 12 12 12 12 12 12 12 12 12 12 12 12 12 12
Effective nb of days in a month 31 29 31 30 31 30 31 31 30 31 30 31
Rooms department
Rooms statistics
Rate per category before discount & allowance (Include VAT Exclude & SC ):
Family Suite 17,250 17,250 16,100 14,950 14,375 14,375 14,375 14,375 14,375 14,950 16,100 17,250 15,614 16,082
Family Deluxe 14,375 14,375 13,225 12,650 11,500 11,500 11,500 11,500 11,500 12,650 13,225 14,375 12,840 13,225
Suite 11,500 11,500 10,350 9,200 8,625 8,625 8,625 8,625 8,625 9,200 11,000 12,000 9,971 10,270
Deluxe 8,625 8,625 7,820 6,900 6,900 5,750 5,750 5,750 5,750 6,900 10,350 11,500 7,752 7,985
Daily maximum revenue 339,250 339,250 308,660 278,300 267,950 247,250 247,250 247,250 247,250 278,300 359,400 395,000 301,892 310,948
Average rate 10,602 10,602 9,646 8,697 8,373 7,727 7,727 7,727 7,727 8,697 11,231 12,344 9,434 9,717
Breakdown of revenues by distribution chanel:

Wholesale & groups 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%
OTA 51.0% 51.0% 51.0% 51.0% 51.0% 51.0% 51.0% 51.0% 51.0% 51.0% 51.0% 51.0% 51.0% 51.0%
Direct 19.0% 19.0% 19.0% 19.0% 19.0% 19.0% 19.0% 19.0% 19.0% 19.0% 19.0% 19.0% 19.0% 29.0%
Discount & Allowance by distribution chanel:

OTA 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0%
Direct 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%
Commissions & Costs by distribution chanel:

Wholesale & groups - - - - - - - - - - - - - -
701419272.xlsx
Assumptions
OTA - - - - - - - - - - - - - -
Direct - - - - - - - - - - - - - -
Total Discount, Commissions & Costs by distribution chanel:

OTA 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0%
Direct 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%
Rate per category after discount & allowance& VAT & SC:
Family Suite 11,859 11,859 11,069 10,278 9,883 9,883 9,883 9,883 9,883 10,278 11,069 11,859 10,734 12,258
Tente safari 9,883 9,883 9,092 8,697 7,906 7,906 7,906 7,906 7,906 8,697 9,092 9,883 8,827 10,080
Suite 7,906 7,906 7,116 6,325 5,930 5,930 5,930 5,930 5,930 6,325 7,562 8,250 6,855 7,828
Deluxe 5,930 5,930 5,376 4,744 4,744 3,953 3,953 3,953 3,953 4,744 7,116 7,906 5,330 6,086
Overall ADR 7,288 7,288 6,631 5,979 5,757 5,312 5,312 5,312 5,312 5,979 7,721 8,466 6,482 7,453
Occupancy per category:

Family Suite 85.0% 75.0% 60.0% 70.0% 50.0% 50.0% 70.0% 70.0% 50.0% 70.0% 70.0% 80.0% 66.7% 71.7%
Tente safari 85.0% 75.0% 60.0% 70.0% 50.0% 50.0% 70.0% 70.0% 50.0% 70.0% 70.0% 80.0% 66.7% 71.7%
Suite 85.0% 75.0% 60.0% 70.0% 50.0% 50.0% 70.0% 70.0% 50.0% 70.0% 70.0% 80.0% 66.7% 71.7%
Deluxe 85.0% 75.0% 60.0% 70.0% 50.0% 50.0% 70.0% 70.0% 50.0% 70.0% 70.0% 80.0% 67.1% 72.1%
Overall Occupancy (%) 85% 75% 60% 70% 50% 50% 70% 70% 50% 70% 70% 83% 67% 72%
Room units per category:

Family Suite - 2 2 2 2 2 2 2 2 2 2 2 2 2 2
Family Deluxe 4 4 4 4 4 4 4 4 4 4 4 4 4 4
Suite - 8 8 8 8 8 8 8 8 8 8 8 8 8 8
Deluxe 18 18 18 18 18 18 18 18 18 18 18 18 18 18
Total Room units - 32 32 32 32 32 32 32 32 32 32 32 32 32 32
Nb of Out Of Order rooms per category:

Family Suite - - - - - - - - - - - - - - -
Family Deluxe - - - - - - - - - - - - - - -
Suite - - - - - - - - - - - - - - -
Deluxe - - - - - - - - - - - - - - -
Daily maximum revenue - - - - - - - - - - - - - - -
Average rate - - - - - - - - - - - - - - -
Rooms Complementary - - - - - - - - - - - - - - -
Rooms Condo owners - - - - - - - - - - - - - - -
Rooms House Used - - - - - - - - - - - - - - -
Average nb of guests per occupied room 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00
Private Villas Owners' asssumptions

Share of rental revenues - - - - - - - - - - - - - -
Commission Agency (% of OTA Rooms Revenues) - - - - - - - - - - - - - -
bank/creditcard costs 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3%
Capex/FF&E Reserve Fund (% of Total Revenues) 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3%
Guaranteed Net Yield - - - - - - - - - - - - - -
Housekeeping Staff
Pre-opening (2023) - Salaries and Employee Related Benefits First year of business (2024) - Salaries and Employee Related Benefits
Mnths Prior Monthly Monthly Monthly Monthly

Position Level Headcount opening salary Allowance Position Level Headcount salary Allowance
HK Manager 1 - 40,000 HK Manager 1 40,000 -
Housekeeping SupervisoSupervisor 1 - 20,000 - Housekeeping S Supervisor 1 20,000 -
Butler Member - - 20,000 - Butler Member - 20,000 -
Room attendant Member 6 - 15,000 - Room attendanMember 6 15,000 -
Linen/uniform attendant Member 15,000 - Linen/uniform aMember - 15,000 -
Public Area Attendant Member 3 - 15,000 - Public Area Att Member 3 15,000 -
Florist/HK Attendant Member - - - - Florist/HK Atte Member - - -
Chief Gardener Supervisor - 15,000 - Chief GardenerSupervisor - 15,000 -
Gardeners Member - 12,000 - Gardeners Member - 12,000 -
701419272.xlsx
Assumptions
Assistant Houskeping MaManager 1 - 30,000 - Assistant Hous Manager 1 30,000 -

- - - - - - - - - - -
- - - - - - - - - - -
Total 12 182,000 Total 12 182,000
Front Office Staff
Mnths Prior Monthly Monthly

Front office Manager Manager 1 - 50,000 - Front office MaManager 1 50,000 -
GSA Supervisor Supervisor 1 - 35,000 - GSA SupervisoSupervisor 1 35,000 -
GRO Supervisor Supervisor 1 - 35,000 - GRO SupervisoSupervisor 1 35,000 -
GSA Member 4 - 18,000 - GSA Member 4 18,000 -
Night GSA Supervisor 1 - 20,000 - Night GSA Supervisor 1 20,000 -
Reservasion supervisor Member 1 - 30,000 - Reservasion suMember 1 30,000 -
Bellman / concierge Member 2 - 15,000 - Bellman / conciMember 2 15,000 -
Concierge Supervisor 1 - 20,000 - Concierge Supervisor 1 20,000 -
Lounge Supervisor Supervisor - 25,000 - Lounge SuperviSupervisor - 25,000 -
Driver Member - 15,000 - Driver Member - 15,000 -
room division Supervisor 80,000 room division Supervisor - 80,000 -
Member - - - Member - - -
- - - - -
- - - - - - - - - -
Total 12 343,000 Total 12 343,000
Salaries and benefits growth % n/a n/a -
Other Expenses
Laundry 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00%
Guest Supplies (% of Rooms Revenues) 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
Cleaning Supplies (% of Rooms Revenues) 0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40%
Printing and Stationery (% of Rooms Revenues) 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
Postage & Telegram 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
Telephone & Fax (% of Rooms Revenues) 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
Internet Cost (% of Rooms Revenues) 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30%
Licenses & Taxes (THB) 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
Decoration (% of Rooms Revenues) 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
Transportation&Travelling Exp. (% of Rooms Revenues) 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00%
Gardener Expenses (% of Rooms Revenues) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
……. (% of Rooms Revenues) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Room Laundry (from House laundry)
Cost of Uniform/emp/yr start yr2 (THB) - - - - - - - - - - - - - 3,000.00
Entertainment (% of Rooms Revenues) 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04%
Contract Cleaning Expenses (% of Rooms Revenues) - - - - - - - - - - - - - -
Uniform Laundry (from House laundry) - - - - - - - - - - - - - -
Costs Wholesale distribution (% of Wholesale Rooms Revenues) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Commission Agency (% of OTA Rooms Revenues) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Costs Direct Distribution (% of Direct Rooms Revenues) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Guest Transportation (% of Rooms Revenues) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Room Radio & TV (% of Rooms Revenues) 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15%
Newspapers & Magazine (% of Rooms Revenues) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
…. - - - - - - - - - - - - - -
Loss & Damage - Chinaware (% of Rooms Revenues) 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
Loss & Damage - Glassware (% of Rooms Revenues) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Linen Replacement (% of Rooms Revenues) 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30%
Fruit Basket (% of Rooms Revenues) 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
Welcome Drink (% of Rooms Revenues) 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
… (% of Rooms Revenues) 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
F&B department
701419272.xlsx
Assumptions
F&B statistics
B-Bar & Restaurant
Number of Seats - - - - - - - - - - - - - -
BREAKFAST
Capture ratio BF - Food n/a 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0%
Average Rev per Cover BF - Food n/a 280.0 280.0 280.0 280.0 280.0 280.0 280.0 280.0 280.0 280.0 280.0 280.0 280.0 285.6
Capture ratio BF - Beverage n/a 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Average Rev per Cover BF - Beverage n/a - - - - - - - - - - - - - -
LUNCH
Capture ratio Lunch - Food n/a 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%
Average Rev per Cover Lunch - Food n/a 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0 510.0
Capture ratio Lunch - Beverage n/a 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%
Average Rev per Cover Lunch - Beverage n/a 150.0 150.0 150.0 150.0 150.0 150.0 150.0 150.0 150.0 150.0 150.0 150.0 150.0 153.0
Capture ratio Lunch - Wine n/a 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Average Rev per Cover Lunch - Wine n/a - - - - - - - - - - - - - -
DINNER
Capture ratio Dinner - Food n/a 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80% 80%
Average Rev per Cover DINNER - Food n/a 800.0 800.0 800.0 800.0 800.0 800.0 800.0 800.0 800.0 800.0 800.0 800.0 800.0 816.0
Capture ratio DINNER - Beverage n/a 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50% 50%
Average Rev per Cover DINNER - Beverage n/a 200.0 200.0 200.0 200.0 200.0 200.0 200.0 200.0 200.0 200.0 200.0 200.0 200.0 204.0
Capture ratio DINNER - Wine n/a 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Average Rev per Cover DINNER - Wine n/a - - - - - - - - - - - - - -
Cigarette & Cigar Rev (% of Food, Beverage and Wine Rev) n/a 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Other Rev (% of Food, Beverage and Wine Rev) n/a 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Allowance & Discount Rev (% of Food, Beverage and Wine Rev) n/a 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Swimming pool Bar
Number of Seats - - - - - - - - - - - - - -
BREAKFAST
Average Rev per Cover BF - Food n/a - - - - - - - - - - - - - -
LUNCH
Average Rev per Cover Lunch - Food n/a 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 102.0
Average Rev per Cover Lunch - Beverage n/a - - - - - - - - - - - - - -
DINNER
Capture ratio Dinner - Food n/a 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Average Rev per Cover DINNER - Food n/a - - - - - - - - - - - - - -
Capture ratio DINNER - Beverage n/a 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Average Rev per Cover DINNER - Beverage n/a - - - - - - - - - - - - - -
Cigarette & Cigar (% of Food, Beverage and Wine Rev) n/a 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Other Revenue (% of Food, Beverage and Wine Rev) n/a 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Allowance & Discount (% of Food, Beverage and Wine Rev) n/a 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Restaurant 3
Number of Seats - - - - - - - - - - - - - -
BREAKFAST
Average Rev per Cover BF - Food n/a - - - - - - - - - - - - - -
LUNCH
Average Rev per Cover Lunch - Food n/a - - - - - - - - - - - - - -
Average Rev per Cover Lunch - Beverage n/a - - - - - - - - - - - - - -
DINNER
Average Rev per Cover DINNER - Food n/a - - - - - - - - - - - - - -
701419272.xlsx
Assumptions

Average Rev per Cover DINNER - Beverage n/a - - - - - - - - - - - - - -
Room Service
Number of Seats - - - - - - - - - - - - - -
BREAKFAST
Average Rev per Cover BF - Food n/a 350.0 350.0 350.0 350.0 350.0 350.0 350.0 350.0 350.0 350.0 350.0 350.0 350.0 357.0
Average Rev per Cover BF - Beverage n/a - 100 100 100 100 100 100 100 100 100 100 100 92 93.5
LUNCH
Capture ratio Lunch - Food n/a 0% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 0.9% 0.9%
Average Rev per Cover Lunch - Food n/a - 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0 458.3 467.5
Capture ratio Lunch - Beverage n/a 0% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 0.9% 0.9%
Average Rev per Cover Lunch - Beverage n/a - 200.0 200.0 200.0 200.0 200.0 200.0 200.0 200.0 200.0 200.0 200.0 183.3 187.0
Capture ratio Lunch - Wine n/a 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0.0% 0.0%
DINNER
Average Rev per Cover DINNER - Food n/a 800.0 800.0 800.0 800.0 800.0 800.0 800.0 800.0 800.0 800.0 800.0 800.0 800.0 816.0
Average Rev per Cover DINNER - Beverage n/a 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0 510.0
Banqueting
Nb of events - - - - - - - - - - - - - -
Average nb of guests per event - - - - - - - - - - - - - -
Nb of Covers Food (yearly) - - - - - - - - - - - - - -
Nb of Covers Beverage (yearly) - - - - - - - - - - - - - -
Nb of Covers Wine (yearly) - - - - - - - - - - - - - -
Average Rev per Cover - Food - - - - - - - - - - - - - -
Average Rev per Cover - Beverage - - - - - - - - - - - - - -
Average Rev per Cover - Wine - - - - - - - - - - - - - -
Cost of Sales
Cost of Sales - Food (% of Food Rev)

B-Bar & Restaurant n/a 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0%
Swimming pool Bar n/a 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%
Restaurant 3 n/a 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%
Room Service n/a 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0%
Banqueting n/a 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0%
Cost of Sales - Beverage (% of Beverage Rev)

Restaurant 3 n/a 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0%
Room Service n/a 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0%
Banqueting n/a 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0%
Cost of Sales - Wine (% of Wine Rev)

Restaurant 3 n/a 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0%
Room Service n/a 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0%
Banqueting n/a 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0%
Cost of Sales - Cigarette & Cigar (% of Cigarette & Cigar Rev)
701419272.xlsx
Assumptions
Restaurant 3 n/a 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0%
Room Service n/a 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0%
Banqueting n/a 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0%
Cost of Sales - Other (% of Other Rev)

Restaurant 3 n/a 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0%
Room Service n/a 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0%
Banqueting n/a 70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0%
Kitchen Staff

Chef Manager 1 - 60,000 - Chef Manager 1 60,000 -
Sous CHef Asst Mgr 1 - 40,000 - Sous CHef Asst Mgr 1 40,000 -
Chef de Partie Supervisor 2 - 30,000 - Chef de Partie Supervisor 2 30,000 -
Demi Chef Sr. Member 4 - 20,000 - Demi Chef Sr. Member 4 20,000 -
Butcher/Cold kitchen Member - - - - Butcher/Cold kiMember - - -
Commis Member 1 - 15,000 - Commis Member 1 15,000 -
Pastry Chef Supervisor - - Pastry Chef Supervisor - - -
Commis Pastry Member - - Commis PastryMember - - -
Steward Supervisor Supervisor - - - - Steward SupervSupervisor - - -
Steward Member - - - - Steward Member - - -
chef de cuisine Manager - - - - chef de cuisine Manager - - -
Night commis Supervisor - - - - Night commis Supervisor - - -
Total 9 165,000 Total 9 165,000
Service Staff
Mnths Prior Monthly Monthly Monthly Monthly

FB Manager Manager 1 - 50,000 - FB Manager Manager 1 50,000 -
Asst Restaurant Mg Supervisor 1 - 35,000 - Asst RestauranSupervisor 1 35,000 -
FB Supervisor Supervisor - - - FB Supervisor Supervisor - - -
Asst Bar Mg Supervisor 1 - 35,000 - Asst Bar Mg Supervisor 1 35,000 -
F&B Attendant Member 6 - 15,000 - F&B Attendant Member 6 15,000 -
Bartender Member 3 - 20,000 - Bartender Member 3 20,000 -
Bar Captain Supervisor - - Bar Captain Supervisor - - -
Room Service Attendant Member - - Room Service AMember - - -
Beach / pool Attendant Member - - Beach / pool AtMember - - -
F&B coordinator Supervisor - - - F&B coordinatoSupervisor - - -
- - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
Total 12 105,000 Total 12 105,000
Salaries and benefits growth % n/a n/a 2.00%
Other Expenses
Guest Supplies (% of F&B Revenue) 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50%
Cleaning Supplies (% of F&B Revenue) 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
Printing and Stationary (% of F&B Revenue) 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
Replacement Kitchen Utensils (% of F&B Revenue) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Telephone & Fax (% of F&B Revenue) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Kitchen gas (% of F&B Revenue) 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00%
Licenses & Taxes (% of F&B Revenue) 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
Decoration (% of F&B Revenue) 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
701419272.xlsx
Assumptions
Transportion&Travelling Exp. (% of F&B Revenue) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Entertainment (% of F&B Revenue) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
…. (% of F&B Revenue) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Laundry Linnen (frm House Laundry)
Cost of Uniform/emp/yr start yr2 (THB) - - - - - - - - - - - - - -
Operating Supplies (% of F&B Revenue) 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
Banquet Expenses (THB) - - - - - - - - - - - - - -
Music & Band (THB) - - - - - - - - - - - - - -
Food & Drink Lists (% of F&B Revenue) 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
Uniform Laundry (frm House Laundry) - - - - - - - - - - - - - -
…. (THB) - - - - - - - - - - - - - -
.. (% of F&B Revenue) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
.. (% of F&B Revenue) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Loss & Damage - Holloware (% of F&B Revenue) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Loss & Damage - Chinaware (% of F&B Revenue) 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04%
Loss & Damage - Glassware (% of F&B Revenue) 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04%
Linen Replacement (% of F&B Revenue) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Breakage & Spoilage (% of F&B Revenue) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
…. (% of F&B Revenue) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
…. (% of F&B Revenue) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Others (% of F&B Revenue) 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
SPA department
SPA statistics
Capture Ratio Spa (%) 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Average rev per guest Spa (THB) 200 200 200 200 200 200 200 200 200 200 200 200 200 204
Capture Ratio Yoga (%) 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Average rev per guest Yoga (THB) - - - - - - - - - - - - - -
Capture Ratio Other Revenue (%) 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Average rev per guest Other (THB) - - - - - - - - - - - - - -
Allowance & Discount (% of Spa, Yoga and Other Rev) - - - - - - - - - - - - - -
Cost of Sales
Cost of Sales - Spa (% of Spa Rev) 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Cost of Sales - Yoga (% of Yoga Rev) 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Cost of Sales - Other Rev (% of Other Rev) 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
SPA Staff

Spa Manager Manager - - Spa Manager Manager - - -
Assist Spa Mngr / Spa ReSupervisor - - - - Assist Spa Mngr Supervisor - - -
Spa Supervisor Supervisor - - - - Spa SupervisorSupervisor - - -
Spa attendant Member - - Spa attendant Member - - -
Yoga instructor Supervisor - 25,000 - Yoga instructorSupervisor - 25,000 -
Fitness instructor Member - 25,000 - Fitness instructMember - 25,000 -
Nutritionist Supervisor - - - - Nutritionist Supervisor - - -
Activity Member - 25,000 Activity Member - 25,000 -
- - - - -
- - - - -
- - - - -
- - - - -
Total - Total -
701419272.xlsx
Assumptions
Other Expenses
Guest Supplies (% of Spa Rev) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Cleaning Supplies (% of Spa Rev) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Printing and Stationery (% of Spa Rev) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
.. (THB) - - - - - - - - - - - - - -
Telephone & Fax Expenses (THB) - - - - - - - - - - - - - -
… (THB) - - - - - - - - - - - - - -
.. (THB) - - - - - - - - - - - - - -
Decoration (% of Spa Rev) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
.. (% of Spa Rev) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
… (THB) - - - - - - - - - - - - - -
……….. (% of Spa Rev) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Laundry Linen (from House Laundry) 0.00%
Cost of Uniform/emp/yr start yr2 (THB) - - - - - - - - - - - - - 1,000
Uniform Laundry (from House Laundry) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Excise Tax (THB) - - - - - - - - - - - - - -
Miscellaneous (% of Spa Rev) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Boutique department
Other Expenses
Guest Supplies 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Cleaning Supplies 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Printing ans Stationery 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Postage & Telegram 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Telephone & Fax 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Internet Expenses 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Licenses & Taxes 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Decoration 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Transport & Travelling Exp. 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Housing and Relocation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Unifom Laundry (from House Laundry)
Laundry Linen 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Cost of Uniform/emp/yr start yr2 (THB) - - - - - - - - - - - - - -
Transportation Charge-Boutique 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Advertising Boutique 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Promotion Boutique 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Collateral & brochures 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Housing costs 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Miscellaneous 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
Laundry department
Laundry statistics
Laundry Capture Ratio (%) 0.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0%
Average Laundry Rev per guest (THB) - 120 120 120 120 120 120 120 120 120 120 120 120 120 122
Cost of Laundry to guests (% of guest laundry rev)
Av. Nb of working days/yr for uniforms - 26 26 26 26 26 26 26 26 26 26 26 26 312 312

Revenue from Laundry per employee/day (THB) - - - - - - - - - - - - - - -
Revenue from laundry per occupied room/day (THB) - - - - - - - - - - - - - - -
Revenue from laundry per meal cover (THB) - - - - - - - - - - - - - - -
Revenue from laundry per Spa treatment (THB) - - - - - - - - - - - - - - -
Laundry staff
701419272.xlsx
Assumptions

Laundry Supervisor Supervisor 1 - 20,000 - Laundry SupervSupervisor 1 20,000 -
Laundry Attendant Member 1 - 15,000 - Laundry AttendMember 1 15,000 -
Linen/Uniform Member - - Linen/Uniform Member - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
Total 2 Total 2 35,000
Other Expenses
Guest Supplies - - - - - - - - - - - - - - -
Cleaning Supplies - - - - - - - - - - - - - - -
Printing & Stationery - 100 100 100 100 100 100 100 100 100 100 100 100 1,200 1,224
… - - - - - - - - - - - - - - -
Telephone & Fax - - - - - - - - - - - - - - -
Internet Expenses - - - - - - - - - - - - - - -
Transportation - - - - - - - - - - - - - - -
… - - - - - - - - - - - - - - -
…. - - - - - - - - - - - - - - -
Uniform/emp/yr start yr2 (THB) - - - - - - - - - - - - - - 500
Utensils - - - - - - - - - - - - - - -
Laudry Chemicals (% of Total Hotel Rev) - 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
Laundry Fuel (% of Total Hotel Rev) - 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04%
Miscellaneous - 500 500 500 500 500 500 500 500 500 500 500 500 6,000 6,120
Other Operated Departments

DJ Member - 20,000 - DJ Member - 20,000 -
Tennis coach Member - - - - Tennis coach Member - - -
sports/CIRCUS Member - - 20,000 - sports/CIRCUSMember - 20,000 -
Recreation Manager Manager - - 30,000 - Recreation Ma Manager - 30,000 -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
Total - Total -
Staff Facilities department
701419272.xlsx
Assumptions
Property Operation Maintenance & Energy
POMEC Staff

Chief Engineer Manager - 80,000 - Chief Engineer Manager - 80,000 -
Engineering Supervisor Supervisor - 18,000 - Engineering SuSupervisor - 18,000 -
Engineering Attendant Member - 12,000 - Engineering At Member - 12,000 -
Pool Cleaner Member - 15,000 - Pool Cleaner Member - 15,000 -
Engineering Coordinator Member - - - - Engineering CoMember - - -
Boat Maintenance Member - - - - Boat Maintena Member - - -
Carpenter / Painter Member - 15,000 - Carpenter / PaiMember - 15,000 -
Technician Member - 15,000 - Technician Member - 15,000 -
Assitant Chief Engineer Manager - 30,000 - Assitant Chief Manager - 30,000 -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
Total - Total -
Other Expenses (% of Hotel Total Revenues exc. Uniforms)
Cleaning Supplies 0 - 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Pinting and Stationery 0 - 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
Postage & Telegram 0 - 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Telephone , Fax - - - - - - - - - - - - - - - -
Internet Cost - - - - - - - - - - - - - - - -
Linceses & Taxes - - - - - - - - - - - - - - - -
Gardener Expenses - - - - - - - - - - - - - - - -
Transportation &Travelling Exp 0 - 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
Housing & Relocation - - - - - - - - - - - - - - - -
Uniform Laundry (from House Laundry) - - - - - - - - - - - - - - - -
Decoration - - - - - - - - - - - - - - - -
Cost of Uniform/emp/yr start yr2 (THB) - - - - - - - - - - - - - - - 500
Entertainment - - - - - - - - - - - - - - - -
Subsription Fee (termite pest control 42 0 - 0.12% 0.12% 0.12% 0.12% 0.12% 0.12% 0.12% 0.12% 0.12% 0.12% 0.12% 0.12% 0.12% 0.12%
Electrical Bulbs 0 - 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
Engineering Supplies 0 - 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
PABX & Telephone System 0 - 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
Audio & Visual Equipment - - - - - - - - - - - - - - - -
General Electrical & Mechinica 0 - 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
Air Condition & Refrigerator 0 - 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
Building - - - - - - - - - - - - - - - -
Landscape - - - - - - - - - - - - - - - -
Painting & Decoration 0 - 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
Curtain & Draperies - - - - - - - - - - - - - - - -
Wooden floors - - - - - - - - - - - - - - - -
Computer Repair & Maint. 0 - 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
Office Equipment - - - - - - - - - - - - - - - -
Restaurant Equipment 0 - 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
Kitchen Equipment 0 - 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
Laundry Equipment - - - - - - - - - - - - - - - -
Furniture Repair & Maint. - - - - - - - - - - - - - - - -
Swimming Pool Repair & Maint. 0 - 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
Sanitary Ware Repair & Maint. - - - - - - - - - - - - - - - -
Woodwork Repair & Maint. 0 - 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30%
Vehicle Repair & Maint. - - - - - - - - - - - - - - - -
Fire Safety & Security Equip. 0 - 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15%
Other Repair and Maintenace 0 - 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
Waste Removal 0 - 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04%
701419272.xlsx
Assumptions
Water Filter Chemicles 0 - 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
Sign Maintenance 0 - 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
Spa & Suana Repairing - - - - - - - - - - - - - - - -
Elevators - - - - - - - - - - - - - - - -
Miscellaneous Expenses 0 - 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04%
Energy Cost
Electricity - Basic requirements - 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 1,200,000 1,224,000
Electricity - per room per night usage - 100 100 100 100 100 100 100 100 100 100 100 100 100 102
Water Supply - Resort - per room per night usage (THB/night) - 15 15 15 15 15 15 15 15 15 15 15 15 15 15
Water Supply - Staff House - - - - - - - - - - - - - - -
Fuel and Gasoline (THB/night) - - - - - - - - - - - - - - -
G&A
G&A Staff

General/Resident ManagManager 1 - 100,000 20,000 General/ResideManager 1 100,000 20,000
Exec. Asst. Manager Manager - 20,000 - Exec. Asst. MaManager - 20,000 -
Exec. Secretary Manager - - - - Exec. Secretar Manager - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
Total 1 - 120,000 20,000 Total 1 120,000 20,000
Accounting Staff

Chief Accountant Manager - 40,000 - Chief AccountaManager - 40,000 -
Assistant CA Manager - 25,000 - Assistant CA Manager - 25,000 -
AP and AR Officer Member 22,000 - AP and AR OffiMember - 22,000 -
Accounting Officer Member - - - - Accounting OffiMember - - -
Purchasing Supervisor Supervisor 20,000 - Purchasing SupSupervisor - 20,000 -
Purchasing/Receiving OffMember - 15,000 - Purchasing/ReceMember - 15,000 -
Cost Controller Supervisor - - Cost ControllerSupervisor - - -
Store Clerk Member - - - - Store Clerk Member - - -
IT Supervisor Supervisor - - IT Supervisor Supervisor - - -
Income Auditor Member - - - - Income AuditorMember - - -
Security Member - 13,000 - Security Member - 13,000 -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
Total - - - Total - -
701419272.xlsx
Assumptions
Other Expenses
(% of Total Hotel Revenues)
Commission Credit Card - 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00%
Cleaning Supplies - 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Printing and Stationery - 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
Postage & Telegram - 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
Telephone , Fax - 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
Internet Cost - - - - - - - - - - - - - - -
Licenses & Taxes - 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15%
Decoration - - - - - - - - - - - - - - -
Transportation&Travelling Exp. - - - - - - - - - - - - - - -
Housing and Relocation - - - - - - - - - - - - - - -
Entertainment - - - - - - - - - - - - - - -
Contract Service - - - - - - - - - - - - - - -
Newspapers & Magazine - 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Subsription Fee (Aurascent, Royal Streaming) - - - - - - - - - - - - - - -
Auditor Fee - - - - - - - - - - - - - - -
Professional Fee - 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
Recruitment Expenses - 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
Medical Expenses - - - - - - - - - - - - - - -
Training Expenses - - - - - - - - - - - - - - -
Security Force (24K/ MONTH) - - - - - - - - - - - - - - -
Staff Party - 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
Medical Insurance - - - - - - - - - - - - - - -
Uniform Laundry (from House Laundry) - - - - - - - - - - - - - - -
Miscellaneous - - - - - - - - - - - - - - -
Base Management Fee (% of Total Hotel Rev) - - - - - - - - - - - - - - -
HR
HR Staff

Human Resource Mgr Manager - 30,000 - Human ResourManager - 30,000 -
HR & Training SupervisorSupervisor - - - - HR & Training Supervisor - - -
HR Supervisor Member - - - - HR Supervisor Member - - -
Training Manager/Englis Manager - - - - Training ManagManager - - -
- - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
Total Total -
Other Expenses
Commission Credit Card - - - - - - - - - - - - - - -
Cleaning Supplies - - - - - - - - - - - - - - -
Printing and Stationery - 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
Postage & Telegram - 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
Telephone , Fax - 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
Internet Cost - - - - - - - - - - - - - - -
Licenses & Taxes - - - - - - - - - - - - - - -
701419272.xlsx
Assumptions
Decoration - - - - - - - - - - - - - - -
Transportation&Travelling Exp. - - - - - - - - - - - - - - -
Housing and Relocation - 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
Entertainment - - - - - - - - - - - - - - -
Staff Uniform - 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20%
Subscription Fee - - - - - - - - - - - - - - -
Auditor Fee - - - - - - - - - - - - - - -
Professional Fee - - - - - - - - - - - - - - -
Recruitment Expenses - - - - - - - - - - - - - - -
Medical Expenses - 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
Training Expenses - 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
Security Force - - - - - - - - - - - - - - -
Staff Party - 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
Medical Insurance - 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
Miscellaneous - - - - - - - - - - - - - - -
S&M
Printing and stationary - - - - - - - - - - - - - - - -
Postage & Telegram - - - - - - - - - - - - - - - -
Telephone & Fax - - - - - - - - - - - - - - - -
Internet costs - - - - - - - - - - - - - - - -
License & Taxes - - - - - - - - - - - - - - - -
Transportation & Travelling 0 - 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07%
Housing & relocation - - - - - - - - - - - - - - - -
Entertainment 0 - 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50%
Newspaper & Magazine 0 - 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
Subscription fee (Travelclick) 0 - 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20%
Incentive - - - - - - - - - - - - - - - -
Social Media 0 - 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
Photography - - - - - - - - - - - - - - - -
Direct Mail - - - - - - - - - - - - - - - -
PR/COM - - - - - - - - - - - - - - - -
Advertising - Publications - - - - - - - - - - - - - - - -
Advertising - Website - - - - - - - - - - - - - - - -
Advertising - Radio & TV - - - - - - - - - - - - - - - -
Advertising - Other Media 0 - 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50%
Collateral Material & Brochures - - - - - - - - - - - - - - - -
Travelling Trade Show overseas - - - - - - - - - - - - - - - -
Barter Brochures/publications - - - - - - - - - - - - - - - -
F&B/Spa marketing/Promotions - - - - - - - - - - - - - - - -
VIP AMENITIES - - - - - - - - - - - - - - - -
S&M and Reservation Fee (% of Rooms Rev) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Logistics
Office Rental - no real need if we use AKARYN as pre opening site
Telephone, Communication, Internet 40,000
Transportation and Travelling 180,000
Printing & Stationery 40,000
Miscellaneous -
Total Logistic 260,000
Pre-Opening Management Services

Visual One Business system 3,350,000
Spa Concept Development and Training -
AHMS pre-opening management fee -
AHMS Executive Travelling 120,000
Total Pre-Opening Management Services 3,470,000
701419272.xlsx
Assumptions
Sales & Marketing Activities
Cost Units Total

Representation
PR 35,000 6 210,000
UK Representation 36,000 6 216,000
DE Representation 39,000 6 234,000
Total 660,000
PR Additional Costs
Flights for Journalists 20,000 6 120,000
BKK Launch Event 150,000 1 150,000
PR Web Release distribut 5,000 6 30,000
Total 300,000
Web Development
Web Design 90,000 1 90,000
Web Management Retain 20,000 6 120,000
Web Search Costs / Soci 10,000 6 60,000
Total 270,000
S&M Collateral
Pin Drive / Flyers / Prese 20,000 6 120,000
Photography
Photography 4 days ( 2 x 220,000 1 220,000
Flights for photography 20,000 1 20,000
360 photos 80,000 1 80,000
Total 320,000
Tour Operator Costs

Fam Trips Hosting 20,000 6 120,000
DOSM Travel for Hosting 8,000 6 48,000
Total 168,000
Affiliations Costs
Small Luxury Hotels 550,000 1 550,000
Mr and Mrs Smith 45,000 1 45,000
Total 595,000
Sales Missions
ILTM (Cannes - Dec 2013 15,000 1 15,000

WTM ( London November 15,000 1 15,000
ATF ( Venue TBC Jan 20 15,000 1 15,000
ITB ( Berlin March 2014 ) 15,000 1 15,000
ILTM ( Shanghai june 201 15,000 1 15,000
US Sales Trip 2013 /201 15,000 1 15,000
European Sales Trip 201 15,000 1 15,000
Australian Sales Trip 20 15,000 1 15,000
Total 120,000
Total Sales & Marketing 2,553,000
Training Expenses and HR

Management Training -
Staff Training 210,000
Team Building Exercise and Staff Event -
Recruitment Expenses Advertising 50,000
Total Training and HR 260,000
Trial Run 10 days

general store 16,000
Dry goods store 5,000
Market list 9,000
Food store 8,000
Beverage store 5,000
701419272.xlsx
Assumptions
Wine store 2,000

Spa 5,000
Total Trial run 50,000
Total Pre-Opening Expenses 6,593,000
Employee Related Benefits general assumptions 0
Nb of days in a year 366 365

Nb of month in a year 12 12
Insurance /month (THB) 175.00 175.00
Pension (Provident Fund) % of salary - -
Transport / day (THB) - -
Meals / day (THB) - 50.00 Derived from Canteen total cost
Housing costs average / day (THB) - - Derived from Staff House total allocated cost
Laundry / working day (THB) - -
Number of working days / yr 312.00 312.00 1 days off / week
Bonus / month - % of salary - -
Social Security Fund - % of salary inc. bonus
5%*Salary < 600 (%) 5.00% 5.00%
5%*Salary > 600 (THB) 750 750
Other Income/Expenses (expenses before EBITDA)
Incentive Management Fee (% GOP) - 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5%

Hoteld Lease - - - - - - - - - - - - - - -
Property & Other Taxes (per room unit) - 200 200 200 200 200 200 200 200 200 200 200 200 2,400 2,448
Insurance - 6,480 6,480 6,480 6,480 6,480 6,480 6,480 6,480 6,480 6,480 6,480 6,480 77,764 79,320
Other Fixed Charges - - - - - - - - - - - - - - -
Cash Flow Statement Drivers
Change in WC/Change in Total Revenues (%) - (6.0%) (6.0%) (6.0%) (6.0%) (6.0%) (6.0%) (6.0%) (6.0%) (6.0%) (6.0%) (6.0%) (6.0%) (6.0%) (6.0%)
Capex/Total Revenues (%) - 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 3.0%
Depreciation period (years) 17.0 17.0 17.0 17.0 17.0 17.0 17.0 17.0 17.0 17.0 17.0 17.0 17.0 16.8
Dividend Payout (%) - - - - - - - - - - - - - - -
Debt repayment schedule Opening Balance Sheet Assumptions
2023 2024 2025 2026 2027 2028 2029 2030 Total

% of Principal repaid each year - - 14.30% 15.00% 16.00% 17.00% 18.20% 19.50% 100.00% Intangible Assets (% of Total Assets)
Property, Plant & Equipment (% of Total Assets)
Starting Remaining Interest rate % of Repaid Repaid Paid Total WC (% of Total Assets)
Year Month Principal Principal % Principal Principal Interests
1 Jan-23 - - (1.00)% 0.0% - - - Minimum Cash Balance
1 Feb-23 - - (1.00)% 0.0% - - -
1 Mar-23 - - (1.00)% 0.0% - - -
1 Apr-23 - - (1.00)% 0.0% - - -
1 May-23 - - (1.00)% 0.0% - - -
1 Jun-23 - - (1.00)% 0.0% - - -
1 Jul-23 - - (1.00)% 0.0% - - -
1 Aug-23 - - (1.00)% 0.0% - - -
1 Sep-23 - - (1.00)% 0.0% - - - Summary 2023
1 Oct-23 - - (1.00)% 0.0% - - - Total Interest payment -
1 Nov-23 - - (1.00)% 0.0% - - - Total Principal repayment -
701419272.xlsx
Assumptions
1 Dec-23 - - (1.00)% 0.0% - - - Total -

2 Jan-24 - - (1.00)% 0.0% - - -
2 Feb-24 - - (1.00)% 0.0% - - -
2 Mar-24 - - (1.00)% 0.0% - - -
2 Apr-24 - - (1.00)% 0.0% - - -
2 May-24 - - (1.00)% 0.0% - - -
2 Jun-24 - - (1.00)% 0.0% - - -
2 Jul-24 - - (1.00)% 0.0% - - -
2 Aug-24 - - (1.00)% 0.0% - - -
2 Sep-24 - - (1.00)% 0.0% - - - Summary 2024
2 Dec-24 - - (1.00)% 0.0% - - - Total -
3 Jan-25 - - (0.50)% 1.2% - - -
3 Feb-25 - - (0.50)% 1.2% - - -
3 Mar-25 - - (0.50)% 1.2% - - -
3 Apr-25 - - (0.50)% 1.2% - - -
3 May-25 - - (0.50)% 1.2% - - -
3 Jun-25 - - (0.50)% 1.2% - - -
3 Jul-25 - - (0.50)% 1.2% - - -
3 Aug-25 - - (0.50)% 1.2% - - -
3 Sep-25 - - (0.50)% 1.2% - - - Summary 2025
3 Dec-25 - - (0.50)% 1.2% - - - Total -
4 Jan-26 - - - 1.3% - - -
4 Feb-26 - - - 1.3% - - -
4 Mar-26 - - - 1.3% - - -
4 Apr-26 - - - 1.3% - - -
4 May-26 - - - 1.3% - - -
4 Jun-26 - - - 1.3% - - -
4 Jul-26 - - - 1.3% - - -
4 Aug-26 - - - 1.3% - - -
4 Sep-26 - - - 1.3% - - - Summary 2026
4 Oct-26 - - - 1.3% - - - Total Interest payment -
4 Nov-26 - - - 1.3% - - - Total Principal repayment -
4 Dec-26 - - - 1.3% - - - Total -
5 Jan-27 - - - 1.3% - - -
5 Feb-27 - - - 1.3% - - -
5 Mar-27 - - - 1.3% - - -
5 Apr-27 - - - 1.3% - - -
5 May-27 - - - 1.3% - - -
5 Jun-27 - - - 1.3% - - -
5 Jul-27 - - - 1.3% - - -
5 Aug-27 - - - 1.3% - - -
5 Sep-27 - - - 1.3% - - - Summary 2027
5 Dec-27 - - - 1.3% - - - Total -
6 Jan-28 - - - 1.4% - - -
6 Feb-28 - - - 1.4% - - -
6 Mar-28 - - - 1.4% - - -
6 Apr-28 - - - 1.4% - - -
6 May-28 - - - 1.4% - - -
6 Jun-28 - - - 1.4% - - -
6 Jul-28 - - - 1.4% - - -
6 Aug-28 - - - 1.4% - - -
6 Sep-28 - - - 1.4% - - - Summary 2028
6 Dec-28 - - - 1.4% - - - Total -
7 Jan-29 - - - 1.5% - - -
7 Feb-29 - - - 1.5% - - -
7 Mar-29 - - - 1.5% - - -
7 Apr-29 - - - 1.5% - - -
701419272.xlsx
Assumptions
7 May-29 - - - 1.5% - - -
7 Jun-29 - - - 1.5% - - -
7 Jul-29 - - - 1.5% - - -
7 Aug-29 - - - 1.5% - - -
7 Sep-29 - - - 1.5% - - - Summary 2029
7 Dec-29 - - - 1.5% - - - Total -
8 Jan-30 - - - 1.6% - - -
8 Feb-30 - - - 1.6% - - -
8 Mar-30 - - - 1.6% - - -
8 Apr-30 - - - 1.6% - - -
8 May-30 - - - 1.6% - - -
8 Jun-30 - - - 1.6% - - -
8 Jul-30 - - - 1.6% - - -
8 Aug-30 - - - 1.6% - - -
8 Sep-30 - - - 1.6% - - - Summary 2030
8 Dec-30 - 0 - 1.6% - - - Total -
Total 100% - - -
701419272.xlsx
Assumptions
2026E 2027E 2028E 2029E 2030E 2031E 2032E 2033E 2034E
Transaction costs
MLR (%) Margin (bps) Int. rate (%) Exit Costs of Entreprise Value
(100) (1.00)%
(50) (0.50)%
- -
ate on cash (%)
2026E 2027E 2028E 2029E 2030E 2031E 2032E 2033E 2034E Comments
365 365 366 365 365 365 366 365 365

12 12 12 12 12 12 12 12 12
16,565 17,228 17,917 18,633 19,379 20,154 20,960 21,798 22,670

13,622 14,166 14,733 15,322 15,935 16,573 17,236 17,925 18,642
10,578 11,001 11,441 11,899 12,375 12,870 13,385 13,920 14,477
8,224 8,553 8,895 9,251 9,621 10,006 10,406 10,823 11,255
320,277 333,088 346,411 360,268 374,679 389,666 405,252 421,462 438,321
10,009 10,409 10,825 11,258 11,709 12,177 12,664 13,171 13,698
30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%

51.0% 51.0% 51.0% 51.0% 51.0% 51.0% 51.0% 51.0% 51.0%
29.0% 29.0% 29.0% 29.0% 29.0% 29.0% 29.0% 29.0% 29.0%
22.0% 22.0% 22.0% 22.0% 22.0% 22.0% 22.0% 22.0% 22.0%

17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0%
10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%
- - - - - - - - -
701419272.xlsx
Assumptions
- - - - - - - - -
- - - - - - - - -
22.0% 22.0% 22.0% 22.0% 22.0% 22.0% 22.0% 22.0% 22.0%

17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0%
10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%
12,626 13,131 13,656 14,202 14,770 15,361 15,975 16,614 17,279

10,382 10,797 11,229 11,679 12,146 12,632 13,137 13,662 14,209
8,062 8,385 8,720 9,069 9,432 9,809 10,202 10,610 11,034
6,268 6,519 6,780 7,051 7,333 7,627 7,932 8,249 8,579
7,698 8,027 8,372 8,704 9,052 9,414 9,793 10,182 10,589
73.7% 75.7% 77.7% 77.7% 77.7% 77.7% 77.7% 77.7% 77.7%

73.7% 75.7% 77.7% 77.7% 77.7% 77.7% 77.7% 77.7% 77.7%
73.7% 75.7% 77.7% 77.7% 77.7% 77.7% 77.7% 77.7% 77.7%
74.1% 76.1% 78.1% 78.1% 78.1% 78.1% 78.1% 78.1% 78.1%
74% 76% 78% 78% 78% 78% 78% 78% 78%
2 2 2 2 2 2 2 2 2
4 4 4 4 4 4 4 4 4
8 8 8 8 8 8 8 8 8
18 18 18 18 18 18 18 18 18
32 32 32 32 32 32 32 32 32
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00
- - - - - - - - -
- - - - - - - - -
3% 3% 3% 3% 3% 3% 3% 3% 3%
3% 3% 3% 3% 3% 3% 3% 3% 3%
- - - - - - - - -
701419272.xlsx
Assumptions
2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2 years after opening, we assume payroll growth of 2% per year
1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00%

5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40%
0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30%
0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
3,060 3,121 3,184 3,247 3,312 3,378 3,446 3,515 3,585 3% growth in yr 3, 2% growth from yr 4 to 5, then 1%
0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04%
- - - - - - - - -
- - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 3% growth from yr 2 to 3, 2% growth from yr 4 to 5, then 1%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - -
0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30%
0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
701419272.xlsx
Assumptions
- - - - - - - - -
80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0%

291.3 297.1 303.1 309.1 315.3 321.6 328.1 334.6 341.3 2% annual growth after 3rd year
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - 2% annual growth after 3rd year
30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%

30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
80% 80% 80% 80% 80% 80% 80% 80% 80%

50% 50% 50% 50% 50% 50% 50% 50% 50%
0% 0% 0% 0% 0% 0% 0% 0% 0%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

- - - - - - - - - 2% annual growth after 1st year
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

104.0 106.1 108.2 110.4 112.6 114.9 117.2 119.5 121.9 2% annual growth after 1st year
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
0% 0% 0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0% 0% 0%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
0% 0% 0% 0% 0% 0% 0% 0% 0%
701419272.xlsx
Assumptions
0% 0% 0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0% 0% 0%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - -
1.0% 1.0% 1.0% 1.0% 1.0% 1.0% 1.0% 1.0% 1.0%

364.1 371.4 378.9 386.4 394.2 402.0 410.1 418.3 426.6
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
95.4 97.3 99.2 101.2 103.2 105.3 107.4 109.6 111.7
0.9% 0.9% 0.9% 0.9% 0.9% 0.9% 0.9% 0.9% 0.9%

476.9 486.4 496.1 506.0 516.2 526.5 537.0 547.8 558.7
0.9% 0.9% 0.9% 0.9% 0.9% 0.9% 0.9% 0.9% 0.9%
190.7 194.6 198.4 202.4 206.5 210.6 214.8 219.1 223.5
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - -
1% 1% 1% 1% 1% 1% 1% 1% 1%
832.3 849.0 865.9 883.3 900.9 918.9 937.3 956.1 975.2
1% 1% 1% 1% 1% 1% 1% 1% 1%
520.2 530.6 541.2 552.0 563.1 574.3 585.8 597.5 609.5
0% 0% 0% 0% 0% 0% 0% 0% 0%
- - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0%

30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%
30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%
31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0%
31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0%
20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0%

20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0%
20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0%
20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0%
20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0%
35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0%

35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0%
35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0%
35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0%
35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0%
701419272.xlsx
Assumptions
65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0%

65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0%
65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0%
65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0%
65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0%
65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0%

65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0%
65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0%
65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0% 65.0%
70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0% 70.0%
2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 1 year after opening, we assume payroll growth of 2% per year
0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50%

5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00%
0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
701419272.xlsx
Assumptions
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - -
0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
- - - - - - - - -
- - - - - - - - -
0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
- - - - - - - - -
- - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04%
0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

208 212 216 221 225 230 234 239 244
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - -
- - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
701419272.xlsx
Assumptions
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
1,020 1,040 1,061 1,082 1,104 1,126 1,149 1,172 1,195
- - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

- - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0%

125 127 130 132 135 138 141 143 146
312 312 312 312 312 312 312 312 312

- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
701419272.xlsx
Assumptions
- - - - - - - - -
- - - - - - - - -
1,248 1,273 1,299 1,325 1,351 1,378 1,406 1,434 1,463
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
510 520 531 541 552 563 574 586 598
- - - - - - - - -
0.05% 0.05% 0.05% 0.06% 0.06% 0.06% 0.06% 0.06% 0.06%
0.04% 0.04% 0.04% 0.04% 0.05% 0.05% 0.05% 0.05% 0.05%
6,242 6,367 6,495 6,624 6,757 6,892 7,030 7,171 7,314
701419272.xlsx
Assumptions
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
510 520 531 541 552 563 574 586 598
- - - - - - - - -
0.12% 0.12% 0.12% 0.12% 0.12% 0.12% 0.12% 0.12% 0.12%
0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
- - - - - - - - -
0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
- - - - - - - - -
- - - - - - - - -
0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
- - - - - - - - -
- - - - - - - - -
0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
- - - - - - - - -
0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
- - - - - - - - -
- - - - - - - - -
0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
- - - - - - - - -
0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30%
- - - - - - - - -
0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15%
0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04%
701419272.xlsx
Assumptions
0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%

0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
- - - - - - - - -
- - - - - - - - -
0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04%
Grows by 25% per yr after year 2 until year 7, by 15% from yr 7 to yr 9, and by 10% afterwards
1,248,480 1,273,450 1,298,919 1,324,897 1,351,395 1,378,423 1,405,991 1,434,111 1,462,793
104 106 108 110 113 115 117 120 122

16 16 16 17 17 17 18 18 18
- - - - - - - - -
- - - - - - - - -
701419272.xlsx
Assumptions
3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00%

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
- - - - - - - - -
0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15%
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - -
- - - - - - - - -
0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - 0.5% 0.5% 0.5% 0.5% 0.5%
- - - - - - - - -
- - - - - - - - -
0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
- - - - - - - - -
- - - - - - - - -
701419272.xlsx
Assumptions
- - - - - - - - -
- - - - - - - - -
0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
- - - - - - - - -
- - - - - - - - -
0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20%
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
- - - - - - - - -
0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07%
- - - - - - - - -
0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50%
0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20%
- - - - - - - - -
0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50%
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
e use AKARYN as pre opening site
701419272.xlsx
Assumptions
5% 5% 5% 5% 5% 5% 5% 5% 5%
- - - - - - - - -
2,497 2,547 2,598 2,650 2,703 2,757 2,812 2,868 2,926
80,906 82,524 84,175 85,858 87,575 89,327 91,113 92,936 94,794
- - - - - - - - -
(6.0%) (6.0%) (6.0%) (6.0%) (6.0%) (6.0%) (6.0%) (6.0%) (6.0%)

3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0%
16.6 16.4 16.2 16.0 15.8 15.6 15.4 15.2 15.0
- - - - - - - - -
Valuation drivers
1/1/2024
2.0%
97.0%
1.0%
1,000,000 EBITDA exit multiple 8.0x
Long term growth rate 3.0%
701419272.xlsx
10/30/2023 P&L 10 Years 34/
Project Development Model - Blue Tree Eco-Lodge
Fiscal Year Ends 31/12 Jan-01 Feb-01 Mar-01 Apr-01 May-01 Jun-01 Jul-01 Aug-01 Sep-01
P&L (THB)
Room units 32 32 32 32 32 32 32 32 32
Rooms Available 992 928 992 960 992 960 992 992 960
Rooms Sold 843 696 595 672 496 480 694 694 480
Rooms Occupied 843 696 595 672 496 480 694 694 480
Average Selling Rate 10,602 10,602 9,646 8,697 8,373 7,727 7,727 7,727 7,727
ADR (net) 7,288 7,288 6,631 5,979 5,757 5,312 5,312 5,312 5,312
%Growth 0% 0% -9% -10% -4% -8% 0% 0% 0%
Occupancy % 85% 75% 60% 70% 50% 50% 70% 70% 50%
RevPAR 6,195 5,466 3,979 4,185 2,878 2,656 3,718 3,718 2,656
%Growth 0% -12% -27% 5% -31% -8% 40% 0% -29%
Staff Headcount 48 48 48 48 48 48 48 48 48
Nb of Guests 2,530 2,088 1,786 2,016 1,488 1,440 2,083 2,083 1,440
Revenues
Rooms 6,145,627 5,072,766 3,946,927 4,017,892 2,855,297 2,549,725 3,688,602 3,688,602 2,549,725
% of Total Revenues 71.0% 70.9% 68.9% 66.7% 65.8% 64.0% 64.0% 64.0% 64.0%
F&B 2,466,992 2,051,053 1,752,522 1,978,654 1,460,435 1,413,324 2,044,609 2,044,609 1,413,324
% of Room Revenue 40.1% 40.4% 44.4% 49.2% 51.1% 55.4% 55.4% 55.4% 55.4%
Boutique POR (THB) 2,926- 2,947- 2,944- 2,944- 2,944- 2,944- 2,944- 2,944- 2,944-
Guest Laundry 12,597 10,398 8,892 10,040 7,410 7,171 10,374 10,374 7,171
POR (THB) 15 15 15 15 15 15 15 15 15
Other Operated Departments 27,185 22,439 18,540 20,205 14,730 13,900 20,109 20,109 13,900
POR (THB) 32 32 31 30 30 29 29 29 29
Total Revenues 8,652,402 7,156,657 5,726,881 6,026,790 4,337,871 3,984,120 5,763,694 5,763,694 3,984,120
%Growth - (17.3%) (20.0%) 5.2% (28.0%) (8.2%) 44.7% - (30.9%)
%Other revenues/Rooms Revenues 40.8% 41.1% 45.1% 50.0% 51.9% 56.3% 56.3% 56.3% 56.3%
Cost of Sales
F&B (879,390) (730,915) (624,701) (705,308) (520,584) (503,791) (728,818) (728,818) (503,791)
Boutique - - - - - - - - -
SPA - - - - - - - - -
Guest Laundry (4,157) (3,431) (2,934) (3,313) (2,445) (2,366) (3,424) (3,424) (2,366)
Unicorn Hotels Resorts

10/30/2023 P&L 10 Years 35/
Other Operated Departments (7,892) (6,515) (5,571) (6,290) (4,643) (4,493) (6,500) (6,500) (4,493)
Total Cost of Sales (891,440) (740,861) (633,207) (714,911) (527,672) (510,651) (738,741) (738,741) (510,651)
Salaries and Wages

Rooms (575,700) (575,700) (575,700) (575,700) (575,700) (575,700) (575,700) (575,700) (575,700)
F&B (576,363) (576,363) (576,363) (576,363) (576,363) (576,363) (576,363) (576,363) (576,363)
Boutique - - - - - - - - -
SPA - - - - - - - - -
Other Operated Departments - - - - - - - - -
House Laundry (39,892) (39,892) (39,892) (39,892) (39,892) (39,892) (39,892) (39,892) (39,892)
Staff facilities - - - - - - - - -
Total Salaries and Wages (1,191,954) (1,191,954) (1,191,954) (1,191,954) (1,191,954) (1,191,954) (1,191,954) (1,191,954) (1,191,954)
Other expenses
Rooms (527,516) (435,426) (338,788) (344,880) (245,087) (218,858) (316,615) (316,615) (218,858)
F&B (167,805) (139,513) (119,207) (134,588) (99,339) (96,134) (139,074) (139,074) (96,134)
Boutique - - - - - - - - -
SPA - - - - - - - - -
House Laundry (53,077) (43,929) (37,300) (41,640) (30,792) (29,626) (42,591) (42,591) (29,626)
Staff facilities (73,200) (73,200) (73,000) (73,000) (73,000) (73,000) (73,000) (73,000) (73,000)
Total Other expenses (821,598) (692,068) (568,295) (594,108) (448,218) (417,618) (571,280) (571,280) (417,618)
Allocations
House Laundry 92,968 83,821 77,191 81,532 70,684 69,517 82,482 82,482 69,517
Staff facilities 73,200 73,200 73,000 73,000 73,000 73,000 73,000 73,000 73,000
Total Allocations 166,168 157,021 150,191 154,532 143,684 142,517 155,482 155,482 142,517
Departmental Income
Rooms 5,042,411 4,061,641 3,032,438 3,097,312 2,034,509 1,755,167 2,796,287 2,796,287 1,755,167
%Margin 82.0% 80.1% 76.8% 77.1% 71.3% 68.8% 75.8% 75.8% 68.8%
F&B 843,435 604,263 432,252 562,395 264,149 237,036 600,354 600,354 237,036
%Margin 34.2% 29.5% 24.7% 28.4% 18.1% 16.8% 29.4% 29.4% 16.8%
Boutique - - - - - - - - -
%Margin 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SPA - - - - - - - - -
%Margin #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Guest Laundry 8,440 6,967 5,958 6,727 4,965 4,805 6,951 6,951 4,805
%Margin 67.0% 67.0% 67.0% 67.0% 67.0% 67.0% 67.0% 67.0% 67.0%

10/30/2023 P&L 10 Years 36/
Other Operated Departments 19,292 15,925 12,969 13,915 10,087 9,408 13,610 13,610 9,408
%Margin 71.0% 71.0% 70.0% 68.9% 68.5% 67.7% 67.7% 67.7% 67.7%
House Laundry - - - - - - - - -
Staff facilities - - - - - - - - -
Total Departmental Income 5,913,579 4,688,795 3,483,617 3,680,349 2,313,711 2,006,415 3,417,201 3,417,201 2,006,415
%Margin 68.3% 65.5% 60.8% 61.1% 53.3% 50.4% 59.3% 59.3% 50.4%
Undistributed Operating Costs
General & Admimistrative (G&A) (518,691) (458,576) (401,112) (413,166) (345,287) (331,070) (402,592) (402,592) (331,070)
Sales & Marketing (S&M) (120,235) (99,450) (79,582) (83,749) (60,280) (55,364) (80,093) (80,093) (55,364)
% of Rooms Revenues 2.0% 2.0% 2.0% 2.1% 2.1% 2.2% 2.2% 2.2% 2.2%
Property Operation & Maintenance (114,507) (94,712) (75,790) (79,759) (57,408) (52,726) (76,277) (76,277) (52,726)
Per Room Unit (THB) 3,578 2,960 2,368 2,492 1,794 1,648 2,384 2,384 1,648
PAR (THB) 115 102 76 83 58 55 77 77 55
POR (THB) 136 136 127 119 116 110 110 110 110
Utilities (196,968) (180,040) (168,448) (177,280) (157,040) (155,200) (179,856) (179,856) (155,200)
Per Room Unit (THB) 6,155 5,626 5,264 5,540 4,908 4,850 5,621 5,621 4,850
PAR (THB) 199 194 170 185 158 162 181 181 162
POR (THB) 234 259 283 264 317 323 259 259 323
Fee Pirate Girl (259,572) (214,700) (171,806) (180,804) (130,136) (119,524) (172,911) (172,911) (119,524)
% of Rooms Revenues 4.2% 4.4% 4.5% 4.6% 4.7% 4.7% 4.7% 4.7%
Total Undistributed Operating Costs (1,209,973) (1,047,478) (896,739) (934,758) (750,151) (713,884) (911,729) (911,729) (713,884)
GROSS OPERATING PROFIT (GOP) 4,703,606 3,641,317 2,586,878 2,745,591 1,563,560 1,292,531 2,505,472 2,505,472 1,292,531
%Margin 54.4% 50.9% 45.2% 45.6% 36.0% 32.4% 43.5% 43.5% 32.4%
Per Room Unit (THB) 146,988 113,791 80,840 85,800 48,861 40,392 78,296 78,296 40,392
PAR (THB) 4,742 3,924 2,608 2,860 1,576 1,346 2,526 2,526 1,346
POR (THB) 5,578 5,232 4,346 4,086 3,152 2,693 3,608 3,608 2,693
Fixed Charges
Hoteld Lease - - - - - - - - -
Property and Other Taxes (6,400) (6,400) (6,400) (6,400) (6,400) (6,400) (6,400) (6,400) (6,400)
Insurance (6,480) (6,480) (6,480) (6,480) (6,480) (6,480) (6,480) (6,480) (6,480)

10/30/2023 P&L 10 Years 37/
Condo for Owner - - - - - - - - -

Other Fixed Charges - - - - - - - - -
Total Fixed Charges (12,880) (12,880) (12,880) (12,880) (12,880) (12,880) (12,880) (12,880) (12,880)
EBITDA 4,690,726 3,628,437 2,573,998 2,732,710 1,550,679 1,279,651 2,492,592 2,492,592 1,279,651
%Margin 54.2% 50.7% 44.9% 45.3% 35.7% 32.1% 43.2% 43.2% 32.1%
Depreciation & Amortization - - - - - - - - -
% of Total Revenues - - - - - - - - -
Total Capex/D&A (x) 94,072.1x 72,826.3x 51,737.6x 54,911.8x 31,271.2x 25,850.6x 50,109.4x 50,109.4x 25,850.6x
EBIT 4,690,726 3,628,437 2,573,998 2,732,710 1,550,679 1,279,651 2,492,592 2,492,592 1,279,651
%Margin 54.2% 50.7% 44.9% 45.3% 35.7% 32.1% 43.2% 43.2% 32.1%
Interest expense - - - - - - - - -
% Cost of debt
Interest income - - - - - - - - -
% Interest income rate

Net interests - - - - - - - - -
Other financial income/(expense)
Other income/(expense) - - - - - - - - -
Profit Before Tax 4,690,726 3,628,437 2,573,998 2,732,710 1,550,679 1,279,651 2,492,592 2,492,592 1,279,651
%Margin 54.2% 50.7% 44.9% 45.3% 35.7% 32.1% 43.2% 43.2% 32.1%
Corporate income tax
%Tax rate - - - - - - - - -
Net Income (NOP) 4,690,726 3,628,437 2,573,998 2,732,710 1,550,679 1,279,651 2,492,592 2,492,592 1,279,651
%Margin 54.2% 50.7% 44.9% 45.3% 35.7% 32.1% 43.2% 43.2% 32.1%
Total Payroll & Related Expense (1,362,900) (1,362,900) (1,362,900) (1,362,900) (1,362,900) (1,362,900) (1,362,900) (1,362,900) (1,362,900)
Per Room unit (42,591) (42,591) (42,591) (42,591) (42,591) (42,591) (42,591) (42,591) (42,591)
Tax Loss Carry Forward - - - - - - - - -
Cash Flow Statement (THB)

10/30/2023 P&L 10 Years 38/
EBITDA 4,690,726 3,628,437 2,573,998 2,732,710 1,550,679 1,279,651 2,492,592 2,492,592 1,279,651
Interest Paid - - - - - - - - -
Interest Received - - - - - - - - -
Corporate income tax paid - - - - - - - - -
Other financial income/(expense) paid - - - - - - - - -
Other cash adjustments - - - - - - - - -
Cash Flow From Operations before change in WC 4,690,726 3,628,437 2,573,998 2,732,710 1,550,679 1,279,651 2,492,592 2,492,592 1,279,651
Change in Working Capital (519,144) 89,745 85,787 (17,995) 101,335 21,225 (106,774) - 106,774
% of change in Total Revenues 0.0% (6.0%) (6.0%) (6.0%) (6.0%) (6.0%) (6.0%) 0.0% (6.0%)
Cash Flow From Operations after change in WC 4,171,582 3,718,181 2,659,784 2,714,716 1,652,014 1,300,876 2,385,817 2,492,592 1,386,425
Capex (173,048) (143,133) (114,538) (120,536) (86,757) (79,682) (115,274) (115,274) (79,682)
Free Cash Flow 3,998,534 3,575,048 2,545,246 2,594,180 1,565,257 1,221,193 2,270,543 2,377,318 1,306,743
Net acquisitions and financial investments - - - - - - - - -
Share issues / (Share buy-backs) - - - - - - - - -
Other cash flow adjustments(72.09% first Year and 5% nex (2,882,543) (2,577,252) (1,834,868) (1,870,144) (1,128,394) (880,358) (1,636,835) (1,713,808) (942,031)
Cash Flow Available Before Debt Repayments 1,115,991 997,796 710,378 724,036 436,863 340,835 633,709 663,509 364,712
Scheduled Debt repayments - - - - - - - - -
FCF to Equity 1,115,991 997,796 710,378 724,036 436,863 340,835 633,709 663,509 364,712
Dividends paid
Increase/(decrease) in Cash & Cash Equivalents 1,115,991 997,796 710,378 724,036 436,863 340,835 633,709 663,509 364,712
Balance Sheet (THB)
Goodwill - - - - - - - - -
Intangible Assets - - - - - - - - -
Property, Plant & Equipment 173,048 316,181 430,719 551,255 638,012 717,694 832,968 948,242 1,027,925
Working Capital 519,144 429,399 343,613 361,607 260,272 239,047 345,822 345,822 239,047
Cash & Cash Equivalents / (Revolver) 1,115,991 2,113,787 2,824,165 3,548,201 3,985,064 4,325,899 4,959,608 5,623,117 5,987,829
Other Savings account ( cash flow) 2,882,543 2,577,252 1,834,868 1,870,144 1,128,394 880,358 1,636,835 1,713,808 942,031
Total Assets 4,690,726 5,436,620 5,433,365 6,331,207 6,011,742 6,162,999 7,775,232 8,630,989 8,196,832
Shareholders' Equity (Group share) 4,690,726 8,319,162 10,893,160 13,625,870 15,176,550 16,456,200 18,948,792 21,441,384 22,721,034
Financial Debt - - - - - - - - -
Pension Provisions - - - - - - - - -
Other (2,882,543) (5,459,795) (7,294,663) (9,164,808) (10,293,201) (11,173,560) (12,810,394) (14,524,203) (15,466,234)
Total Liabilities 1,808,183 2,859,367 3,598,497 4,461,063 4,883,348 5,282,641 6,138,398 6,917,181 7,254,801

10/30/2023 P&L 10 Years 39/
B/S check 2,882,543 2,577,252 1,834,868 1,870,144 1,128,394 880,358 1,636,835 1,713,808 942,031
Dividens 11,160 9,978 7,104 7,240 4,369 3,408 6,337 6,635 3,647
Value Action

10/30/2023 P&L 10 Years 40/
Oct-01 Nov-01 Dec-01 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7
32 32 32 32 32 32 32 32 32 32
992 960 992 11,712 11,680 11,680 11,680 11,712 11,680 11,680
694 672 822 7,839 8,086 8,190 8,293 8,407 8,397 8,398
694 672 822 7,839 8,086 8,190 8,293 8,407 8,397 8,398
8,697 11,231 12,344 9,434 9,717 10,009 10,409 10,825 11,258 11,709
5,979 7,721 8,466 6,482 7,453 7,698 8,027 8,372 8,704 9,052
13% 29.1% 9.7% (23.4%) 15.0% 3.3% 4.3% 4.3% 4.0% 4.0%
70% 70% 83% 67% 69% 70% 71% 72% 72% 72%
4,185 5,405 7,011 4,338 5,160 5,397 5,699 6,010 6,258 6,509
58% 29.1% 29.7% (38.1%) 18.9% 4.6% 5.6% 5.4% 4.1% 4.0%
48 48 48 48 48 48 48 48 48 48
2,083 2,016 2,465 23,517 24,259 24,569 24,878 25,221 25,191 25,194
4,151,822 5,188,754 6,955,223 50,810,962 60,269,179 63,042,050 66,567,120 70,383,647 73,091,524 76,022,738
66.7% 72.1% 73.9% 68.4% 71.0% 71.2% 71.7% 72.1% 72.5% 72.9%
2,044,609 1,978,654 2,418,845 23,067,628 24,262,710 25,063,898 25,887,429 26,768,509 27,271,897 27,820,747
32.8% 27.5% 25.7% 31.1% 28.6% 28.3% 27.9% 27.4% 27.1% 26.7%
49.2% 38.1% 34.8% 45.4% 40.3% 39.8% 38.9% 38.0% 37.3% 36.6%
2,944- 2,944- 2,944- 2,943- 3,000- 3,060- 3,122- 3,184- 3,248- 3,313-
10,374 10,040 12,273 117,116 123,225 127,294 131,477 135,952 138,508 141,296
0.2% 0.1% 0.1% 0.2% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1%
15 15 15 15 15 16 16 16 16 17
20,878 22,148 28,092 242,236 266,173 276,262 287,752 300,120 308,062 316,686
0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3%
30 33 34 31 33 34 35 36 37 38
6,227,683 7,199,596 9,414,433 74,237,942 84,921,287 88,509,504 92,873,778 97,588,228 100,809,992 104,301,467
56.3% 15.6% 30.8% n/a 14.4% 4.2% 4.9% 5.1% 3.3% 3.5%
50.0% 38.8% 35.4% 46.1% 40.9% 40.4% 39.5% 38.7% 37.9% 37.2%
(728,818) (705,308) (862,218) (8,222,460) (8,649,125) (8,934,731) (9,228,301) (9,542,387) (9,721,834) (9,917,487)
- - - - - - - - - -
- - - - - - - - - -
(3,424) (3,313) (4,050) (38,648) (40,664) (42,007) (43,387) (44,864) (45,708) (46,628)

10/30/2023 P&L 10 Years 41/
(6,500) (6,290) (7,689) (73,375) (77,203) (79,752) (82,372) (85,176) (86,778) (88,524)
(738,741) (714,911) (873,957) (8,334,483) (8,766,992) (9,056,490) (9,354,061) (9,672,427) (9,854,320) (10,052,639)
11.9% 9.9% 9.3% 11.2% 10.3% 10.2% 10.1% 9.9% 9.8% 9.6%
(575,700) (575,700) (575,700) (6,908,400) (6,908,400) (7,046,568) (7,187,499) (7,331,249) (7,477,874) (7,627,432)
(576,363) (576,363) (576,363) (6,916,350) (7,054,677) (7,195,771) (7,339,686) (7,486,480) (7,636,209) (7,788,933)
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
(39,892) (39,892) (39,892) (478,700) (488,274) (498,039) (508,000) (518,160) (528,523) (539,094)
- - - - - - - - - -
(1,191,954) (1,191,954) (1,191,954) (14,303,450) (14,451,351) (14,740,378) (15,035,186) (15,335,889) (15,642,607) (15,955,459)
19.1% 16.6% 12.7% 19.3% 17.0% 16.7% 16.2% 15.7% 15.5% 15.3%
(356,376) (445,382) (597,009) (4,361,410) (5,233,211) (5,472,109) (5,775,451) (6,103,781) (6,337,201) (6,589,777)
(139,074) (134,588) (164,530) (1,569,060) (1,650,350) (1,704,846) (1,760,863) (1,820,794) (1,855,034) (1,892,367)
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
(43,008) (42,696) (52,612) (489,486) (518,393) (540,762) (564,733) (589,968) (614,690) (640,632)
(73,000) (73,000) (73,000) (876,400) (893,520) (911,390) (929,618) (950,808) (967,175) (986,518)
(611,458) (695,666) (887,151) (7,296,356) (8,295,474) (8,629,108) (9,030,665) (9,465,351) (9,774,100) (10,109,294)
9.8% 9.7% 9.4% 9.8% 9.8% 9.7% 9.7% 9.7% 9.7% 9.7%
- - - - - - - - - -
82,900 82,587 92,504 968,186 1,006,667 1,038,802 1,072,734 1,108,128 1,143,213 1,179,726
73,000 73,000 73,000 876,400 893,520 911,390 929,618 950,808 967,175 986,518
155,900 155,587 165,504 1,844,586 1,900,187 1,950,192 2,002,352 2,058,937 2,110,388 2,166,244
2.5% 2.2% 1.8% 2.5% 2.2% 2.2% 2.2% 2.1% 2.1% 2.1%
3,219,746 4,167,673 5,782,515 39,541,152 48,127,567 50,523,373 53,604,170 56,948,617 59,276,449 61,805,529
77.6% 80.3% 83.1% 77.8% 79.9% 80.1% 80.5% 80.9% 81.1% 81.3%
600,354 562,395 815,735 6,359,759 6,908,559 7,228,550 7,558,578 7,918,848 8,058,819 8,221,959
29.4% 28.4% 33.7% 27.6% 28.5% 28.8% 29.2% 29.6% 29.5% 29.6%
- - - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -
- - - - - - - - - -
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
6,951 6,727 8,223 78,468 82,561 85,287 88,090 91,088 92,801 94,668
67.0% 67.0% 67.0% 67.0% 67.0% 67.0% 67.0% 67.0% 67.0% 67.0%

10/30/2023 P&L 10 Years 42/
14,378 15,858 20,402 168,861 188,970 196,510 205,380 214,944 221,284 228,162
68.9% 71.6% 72.6% 69.7% 71.0% 71.1% 71.4% 71.6% 71.8% 72.0%
- - - - - - - - - -
- - - - - - - - - -
3,841,429 4,752,653 6,626,875 46,148,240 55,307,658 58,033,721 61,456,217 65,173,497 67,649,353 70,350,319
61.7% 66.0% 70.4% 62.2% 65.1% 65.6% 66.2% 66.8% 67.1% 67.4%
(421,240) (460,302) (549,317) (5,035,015) (5,505,412) (5,691,472) (5,909,559) (6,142,574) (6,316,467) (6,502,089)
6.8% 6.4% 5.8% 6.8% 6.5% 6.4% 6.4% 6.3% 6.3% 6.2%
(86,541) (100,047) (130,824) (1,031,622) (1,180,079) (1,229,942) (1,290,588) (1,356,101) (1,400,871) (1,449,389)
1.4% 1.4% 1.4% 1.4% 1.4% 1.4% 1.4% 1.4% 1.4% 1.4%
2.1% 1.9% 1.9% 2.0% 2.0% 2.0% 1.9% 1.9% 1.9% 1.9%
(82,418) (95,280) (124,592) (982,473) (1,123,858) (1,171,345) (1,229,102) (1,291,494) (1,334,131) (1,380,337)
1.3% 1.3% 1.3% 1.3% 1.3% 1.3% 1.3% 1.3% 1.3% 1.3%
2,576 2,978 3,893 30,702 35,121 36,605 38,409 40,359 41,692 43,136
83 99 126 84 96 100 105 110 114 118
119 142 152 125 139 143 148 154 159 164
(179,856) (177,280) (194,473) (2,101,497) (2,172,522) (2,228,324) (2,285,488) (2,345,402) (2,391,060) (2,439,014)
2.9% 2.5% 2.1% 2.8% 2.6% 2.5% 2.5% 2.4% 2.4% 2.3%
5,621 5,540 6,077 65,672 67,891 69,635 71,422 73,294 74,721 76,219
181 185 196 179 186 191 196 200 205 209
259 264 237 268 269 272 276 279 285 290
(186,830) (215,988) (282,433) (2,227,138) (2,547,639) (2,655,285) (2,786,213) (2,927,647) (3,024,300) (3,129,044)
3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0%
4.5% 4.2% 4.1% 4.4% 4.2% 4.2% 4.2% 4.2% 4.1% 4.1%
(956,885) (1,048,897) (1,281,639) (11,377,745) (12,529,510) (12,976,367) (13,500,951) (14,063,217) (14,466,829) (14,899,874)
15.4% 14.6% 13.6% 15.3% 14.8% 14.7% 14.5% 14.4% 14.4% 14.3%
2,884,544 3,703,756 5,345,236 34,770,494 42,778,147 45,057,353 47,955,266 51,110,279 53,182,524 55,450,445
46.3% 51.4% 56.8% 46.8% 50.4% 50.9% 51.6% 52.4% 52.8% 53.2%
90,142 115,742 167,039 1,086,578 1,336,817 1,408,042 1,498,602 1,597,196 1,661,954 1,732,826
2,908 3,858 5,388 2,969 3,663 3,858 4,106 4,364 4,553 4,747
4,154 5,512 6,507 4,436 5,290 5,502 5,783 6,080 6,334 6,603
- - - - - - - - - -
(6,400) (6,400) (6,400) (76,800) (78,336) (79,903) (81,501) (83,131) (84,793) (86,489)
(6,480) (6,480) (6,480) (77,764) (79,320) (80,906) (82,524) (84,175) (85,858) (87,575)

10/30/2023 P&L 10 Years 43/
- - -
- - - - - - - - - -
(12,880) (12,880) (12,880) (154,564) (157,656) (160,809) (164,025) (167,305) (170,652) (174,065)
2,871,664 3,690,876 5,332,356 34,615,930 42,620,492 44,896,544 47,791,241 50,942,974 53,011,873 55,276,380
46.1% 51.3% 56.6% 46.6% 50.2% 50.7% 51.5% 52.2% 52.6% 53.0%
- - - - - - - - - -
- - - - - - - - - -
57,690.9x 74,075.1x 106,904.7x 1,738,524.7x 1,283,344.4x 1,802,294.1x 1,918,210.6x 2,044,411.2x 2,127,301.0x 2,218,017.8x
2,871,664 3,690,876 5,332,356 34,615,930 42,620,492 44,896,544 47,791,241 50,942,974 53,011,873 55,276,380
46.1% 51.3% 56.6% 46.6% 50.2% 50.7% 51.5% 52.2% 52.6% 53.0%
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
2,871,664 3,690,876 5,332,356 34,615,930 42,620,492 44,896,544 47,791,241 50,942,974 53,011,873 55,276,380
46.1% 51.3% 56.6% 46.6% 50.2% 50.7% 51.5% 52.2% 52.6% 53.0%
(10,602,375) (11,055,276)
- - - - - - - - 20.0% 20.0%
2,871,664 3,690,876 5,332,356 34,615,930 42,620,492 44,896,544 47,791,241 50,942,974 42,409,498 44,221,104
46.1% 51.3% 56.6% 46.6% 50.2% 50.7% 51.5% 52.2% 42.1% 42.4%
(1,362,900) (1,362,900) (1,362,900) (16,354,800) (16,543,728) (16,874,603) (17,212,095) (17,556,337) (17,907,463) (18,265,612)
21.9% 18.9% 14.5% 22.0% 19.5% 19.1% 18.5% 18.0% 17.8% 17.5%
(42,591) (42,591) (42,591) (511,088) (516,992) (527,331) (537,878) (548,636) (559,608) (570,800)
- - - - - - - - - -

10/30/2023 P&L 10 Years 44/
2,871,664 3,690,876 5,332,356 34,615,930 42,620,492 44,896,544 47,791,241 50,942,974 53,011,873 55,276,380
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - (10,602,375) (11,055,276)
- - - - - - - - - -
- - - - - - - - - -
2,871,664 3,690,876 5,332,356 34,615,930 42,620,492 44,896,544 47,791,241 50,942,974 42,409,498 44,221,104
(134,614) (58,315) (132,890) (564,866) (641,001) (215,293) (261,856) (282,867) (193,306) (209,489)
(6.0%) (6.0%) (6.0%) (0.8%) (6.0%) (6.0%) (6.0%) (6.0%) (6.0%) (6.0%)
2,737,050 3,632,561 5,199,466 34,051,064 41,979,491 44,681,251 47,529,385 50,660,107 42,216,192 44,011,616
(124,554) (143,992) (188,289) (1,484,759) (2,547,639) (2,655,285) (2,786,213) (2,927,647) (3,024,300) (3,129,044)
2.0% 2.0% 2.0% 2.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0%
2,612,496 3,488,569 5,011,177 32,566,305 39,431,852 42,025,966 44,743,172 47,732,460 39,191,893 40,882,572
- - - - - - - - - -
- - - - - - - - - -
(1,883,349) (2,514,910) (3,612,558) (23,477,049) (1,971,593) (2,101,298) (2,237,159) (2,386,623) (1,959,595) (2,044,129)
729,148 973,660 1,398,620 9,089,256 37,460,260 39,924,668 42,506,013 45,345,837 37,232,298 38,838,443
- - - - - - - - - -
729,148 973,660 1,398,620 9,089,256 37,460,260 39,924,668 42,506,013 45,345,837 37,232,298 38,838,443
(37,460,260) (39,924,668) (42,506,013) (45,345,837) (37,232,298) (38,838,443)
729,148 973,660 1,398,620 9,089,256 - - - - - -
- - - - - - - - - -
- - - - - - - - - -
1,152,478 1,296,470 1,484,759 1,484,759 4,032,397 6,687,683 9,473,896 12,401,543 15,425,843 18,554,887
373,661 431,976 564,866 564,866 1,205,867 1,421,160 1,683,016 1,965,883 2,159,189 2,368,677
6,716,977 7,690,636 9,089,256 9,089,256 9,089,256 9,089,256 9,089,256 9,089,256 9,089,256 9,089,256
1,883,349 2,514,910 3,612,558 23,477,049 1,971,593 2,101,298 2,237,159 2,386,623 1,959,595 2,044,129
10,126,464 11,933,992 14,751,438 34,615,930 16,299,113 19,299,396 22,483,326 25,843,305 28,633,882 32,056,948
25,592,698 29,283,574 34,615,930 34,615,930 39,776,162 44,748,038 50,033,267 55,630,404 60,807,604 66,190,265
- - - - - - - - - -
- - - - - - - - - -
(17,349,582) (19,864,492) (23,477,049) (23,477,049) (25,448,642) (27,549,940) (29,787,099) (32,173,722) (34,133,316) (36,177,445)
8,243,116 9,419,082 11,138,881 11,138,881 14,327,520 17,198,098 20,246,168 23,456,682 26,674,287 30,012,820

10/30/2023 P&L 10 Years 45/
1,883,349 2,514,910 3,612,558 23,477,049 1,971,593 2,101,298 2,237,159 2,386,623 1,959,595 2,044,129
7,291 9,737 13,986 90,893 374,603 399,247 425,060 453,458 372,323 388,384
2,423,115 4,483,434 4,642,758 4,845,387 3,566,008 2,968,665 3,095,477

10/30/2023 P&L 10 Years 46/
Year 8 Year 9 Year 10 Checks
32 32 32
11,680 11,712 11,680
8,399 8,411 8,401
8,399 8,411 8,401
12,177 12,664 -
9,414 9,793 10,182
4.0% 4.0% 4.0%
72% 72% 72%
6,770 7,033 7,324
4.0% 3.9% 4.1%
48 48 48
25,197 25,233 25,203
79,071,503 82,371,590 85,540,730

73.3% 73.6% 74.0%
28,380,643 28,989,295 29,534,463
26.3% 25.9% 25.6%
35.9% 35.2% 34.5%
3,379- 3,447- 3,516-
144,140 147,231 150,000

0.1% 0.1% 0.1%
17 18 18
325,580 335,226 344,219
0.3% 0.3% 0.3%
39 40 41
107,921,865 111,843,342 115,569,412 -
3.5% 3.6% 3.3%
36.5% 35.8% 35.1%
(10,117,078) (10,334,049) (10,528,389) -

- - - -
- - - -
(47,566) (48,586) (49,500) -

10/30/2023 P&L 10 Years 47/
(90,306) (92,242) (93,977) -

(10,254,949) (10,474,877) (10,671,866) -
9.5% 9.4% 9.2%
(7,779,980) (7,935,580) (8,094,292)

(7,944,712) (8,103,606) (8,265,678)
- - -
- - -
- - -
(549,876) (560,873) (572,091)
- - -
(16,274,568) (16,600,060) (16,932,061) -
15.1% 14.8% 14.7%
(6,852,451) (7,136,679) (7,409,725)

(1,930,451) (1,971,852) (2,008,934)
- - -
- - -
- - -
(667,701) (696,125) (725,427)
(1,006,249) (1,029,186) (1,046,901)
(10,456,852) (10,833,842) (11,190,988) -
9.7% 9.7% 9.7%
- - -
1,217,577 1,256,999 1,297,518
1,006,249 1,029,186 1,046,901
2,223,826 2,286,184 2,344,419 -
2.1% 2.0% 2.0%
64,439,072 67,299,332 70,036,713

81.5% 81.7% 81.9%
8,388,402 8,579,788 8,731,461
29.6% 29.6% 29.6%
- - -
- - -
- - -
#DIV/0! #DIV/0! #DIV/0!
96,573 98,645 100,500
67.0% 67.0% 67.0%

10/30/2023 P&L 10 Years 48/
235,275 242,983 250,242

72.3% 72.5% 72.7%
- - -
- - -
73,159,321 76,220,747 79,118,916 -
67.8% 68.1% 68.5%
(6,693,798) (6,898,531) (7,096,354)

6.2% 6.2% 6.1%
(1,499,699) (1,554,192) (1,605,970)
1.4% 1.4% 1.4%
1.9% 1.9% 1.9%
(1,428,250) (1,480,148) (1,529,459)
1.3% 1.3% 1.3%
44,633 46,255 47,796
122 126 131
170 176 182
(2,487,931) (2,539,294) (2,588,726)
2.3% 2.3% 2.2%
77,748 79,353 80,898
213 217 222
296 302 308
(3,237,656) (3,355,300) (3,467,082)
3.0% 3.0% 3.0%
4.1% 4.1% 4.1%
(15,347,334) (15,827,465) (16,287,591) -
14.2% 14.2% 14.1%
57,811,988 60,393,282 62,831,324 -
53.6% 54.0% 54.4%
1,806,625 1,887,290 1,963,479
4,950 5,157 5,379
6,883 7,180 7,479
- - -
(88,219) (89,983) (91,783) (153,600)
(89,327) (91,113) (92,936)

10/30/2023 P&L 10 Years 49/
- - -
(177,546) (181,097) (184,719) -
57,634,442 60,212,185 62,646,606
53.4% 53.8% 54.2%
- - - -
- - -
2,312,479.5x 2,415,731.3x 2,513,253.0x
57,634,442 60,212,185 62,646,606 -
53.4% 53.8% 54.2%
- - - -
-
- - -
- - - -
- - -
57,634,442 60,212,185 62,646,606 -

53.4% 53.8% 54.2%
(11,526,888) (12,042,437) (12,529,321)
20.0% 20.0% 20.0%
46,107,553 48,169,748 50,117,285 -
42.7% 43.1% 43.4%
(18,630,925) (19,003,543) (19,383,614) -

17.3% 17.0% 16.8%
(582,216) (593,861) (605,738)
- - -
Year 8 Year 9 Year 10

10/30/2023 P&L 10 Years 50/
57,634,442 60,212,185 62,646,606 - -

- - - - -
- - - - -
(11,526,888) (12,042,437) (12,529,321) - -
- - - - -
- - - - -
46,107,553 48,169,748 50,117,285 - -
(217,224) (235,289) (223,564) (23,477,049)
(6.0%) (6.0%) (6.0%)
45,890,330 47,934,460 49,893,720
(3,237,656) (3,355,300) (3,467,082) (23,477,049)
3.0% 3.0% 3.0%
42,652,674 44,579,160 46,426,638
- - -
- - -
(2,132,634) (2,228,958) (2,321,332)
40,520,040 42,350,202 44,105,306 -
- - - - -
40,520,040 42,350,202 44,105,306
(40,520,040) (42,350,202) (44,105,306)
- - -
Year 8 Year 9 Year 10
- - -
- - -
21,792,542 25,147,843 28,614,925
2,585,901 2,821,190 3,044,754
9,089,256 9,089,256 9,089,256
2,132,634 2,228,958 2,321,332
35,600,333 39,287,246 43,070,267
71,777,778 77,597,325 83,609,304

- - -
- - -
(38,310,079) (40,539,037) (42,860,369)
33,467,700 37,058,288 40,748,935

10/30/2023 P&L 10 Years 51/
2,132,634 2,228,958 2,321,332
405,200 423,502 441,053

3,227,529 3,371,882 3,508,210

Selling Rates
Rooms department: Financial Projections
Fiscal Year Ends 31/12 Jan-01 Feb-01 Mar-01 Apr-01 May-01 Jun-01 Jul-01 Aug-01 Sep-01 Oct-01 Nov-01 Dec-01 2024E
In THB
P&L
Effective nb of days in a year 366 366 365 365 365 365 365 365 365 365 365 365 365
Effective nb of months in a year 12 12 12 12 12 12 12 12 12 12 12 12 12
Family Suite 17,250 17,250 16,100 14,950 14,375 14,375 14,375 14,375 14,375 14,950 16,100 17,250 15,614
Family Deluxe 14,375 14,375 13,225 12,650 11,500 11,500 11,500 11,500 11,500 12,650 13,225 14,375 12,840
Suite 11,500 11,500 10,350 9,200 8,625 8,625 8,625 8,625 8,625 9,200 11,000 12,000 9,971
Deluxe 8,625 8,625 7,820 6,900 6,900 5,750 5,750 5,750 5,750 6,900 10,350 11,500 7,752
Daily maximum revenue 339,250 339,250 308,660 278,300 267,950 247,250 247,250 247,250 247,250 278,300 359,400 395,000 301,892
Average rate 10,602 10,602 9,646 8,697 8,373 7,727 7,727 7,727 7,727 8,697 11,231 12,344 9,434

Wholesale & groups 30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30%
OTA 51% 51% 51% 51% 51% 51% 51% 51% 51% 51% 51% 51% 51%
Direct 19% 19% 19% 19% 19% 19% 19% 19% 19% 19% 19% 19% 19%

Wholesale & groups 22% 22% 22% 22% 22% 22% 22% 22% 22% 22% 22% 22% 22%
OTA 17% 17% 17% 17% 17% 17% 17% 17% 17% 17% 17% 17% 17%
Direct 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10%

Wholesale & groups - - - - - - - - - - - - -
OTA - - - - - - - - - - - - -
Direct - - - - - - - - - - - - -
Total Discount, Commissions & Costs distribution chanel:

Wholesale & groups 22.0% 22.0% 22.0% 22.0% 22.0% 22.0% 22.0% 22.0% 22.0% 22.0% 22.0% 22.0% 22.0%
OTA 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0%
Direct 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%
AVERAGE SELLING RATE

Family Suite 11,859 11,859 11,069 10,278 9,883 9,883 9,883 9,883 9,883 10,278 11,069 11,859 10,734
Family Deluxe 9,883 9,883 9,092 8,697 7,906 7,906 7,906 7,906 7,906 8,697 9,092 9,883 8,827
Suite 7,906 7,906 7,116 6,325 5,930 5,930 5,930 5,930 5,930 6,325 7,562 8,250 6,855
Deluxe 5,930 5,930 5,376 4,744 4,744 3,953 3,953 3,953 3,953 4,744 7,116 7,906 5,330
OVERALL AVERAGE SELLING RATE net 7,288 7,288 6,631 5,979 5,757 5,312 5,312 5,312 5,312 5,979 7,721 8,486 6,477
Selling Rate 10,602 10,602 9,646 8,697 8,373 7,727 7,727 7,727 7,727 8,697 11,231 12,344 9,434
Family Suite 85% 75% 60% 70% 50% 50% 70% 70% 50% 70% 70% 80% 67%
Family Deluxe 85% 75% 60% 70% 50% 50% 70% 70% 50% 70% 70% 80% 67%
Suite 85% 75% 60% 70% 50% 50% 70% 70% 50% 70% 70% 80% 67%
Deluxe 85% 75% 60% 70% 50% 50% 70% 70% 50% 70% 70% 80% 67%
Overall Occupancy (%) 85% 75% 60% 70% 50% 50% 70% 70% 50% 70% 70% 80% 67%

Family Suite 2 2 2 2 2 2 2 2 2 2 2 2 2
Family Deluxe 4 4 4 4 4 4 4 4 4 4 4 4 4
Suite 8 8 8 8 8 8 8 8 8 8 8 8 8
Deluxe 18 18 18 18 18 18 18 18 18 18 18 18 18
Total Room units 32 32 32 32 32 32 32 32 32 32 32 32 32
Rooms statistics
Total number of Rooms per category:

Family Suite 62 58 62 60 62 60 62 62 60 62 60 62 732
Family Deluxe 124 116 124 120 124 120 124 124 120 124 120 124 1,464
701419272.xlsx
Selling Rates
Suite 248 232 248 240 248 240 248 248 240 248 240 248 2,928
Deluxe 558 522 558 540 558 540 558 558 540 558 540 558 6,588
Total number of Rooms 992 928 992 960 992 960 992 992 960 992 960 992 11,712

Family Suite - - - - - - - - - - - - -
Family Deluxe - - - - - - - - - - - - -
Suite - - - - - - - - - - - - -
Total Nb of Out Of Order rooms - - - - - - - - - - - - -
Rooms Available per category

Family Suite 62 58 62 60 62 60 62 62 60 62 60 62 732
Tente safari 124 116 124 120 124 120 124 124 120 124 120 124 1,464
Suite 248 232 248 240 248 240 248 248 240 248 240 248 2,928
Deluxe 558 522 558 540 558 540 558 558 540 558 540 558 6,588
Total Rooms Available 992 928 992 960 992 960 992 992 960 992 960 992 11,712
Rooms Sold per category

Family Suite 53 44 37 42 31 30 43 43 30 43 42 50 488
Family Deluxe 105 87 74 84 62 60 87 87 60 87 84 99 976
Suite 211 174 149 168 124 120 174 174 120 174 168 198 1,953
Deluxe 474 392 335 378 279 270 391 391 270 391 378 446 4,394
Total Rooms Sold 843 696 595 672 496 480 694 694 480 694 672 794 7,811
Rooms Complementary - - - - - - - - - - - - -
Rooms Condo owners - - - - - - - - - - - - -
Rooms House Used - - - - - - - - - - - - -
Total Rooms Occupied 843 696 595 672 496 480 694 694 480 694 672 794 7,811
Rooms Vacant 149 232 397 288 496 480 298 298 480 298 288 198 3,901
Average nb of guests per occupied room 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00
Total number of guests 2,530 2,088 1,786 2,016 1,488 1,440 2,083 2,083 1,440 2,083 2,016 2,381 23,434
Rooms Department Total Staff Headcount 24 24 24 24 24 24 24 24 24 24 24 24 24
Revenues
Family Suite 624,979 515,875 411,751 431,674 306,362 296,480 428,907 428,907 296,480 446,063 464,880 588,216 5,240,574
Tente safari 1,041,632 859,791 676,448 730,526 490,180 474,367 686,252 686,252 474,367 754,877 763,732 980,359 8,618,781
Suite 1,666,611 1,375,665 1,058,788 1,062,583 735,269 711,551 1,029,377 1,029,377 711,551 1,098,002 1,270,480 1,636,774 13,386,030
Deluxe 2,812,406 2,321,436 1,799,940 1,793,109 1,323,485 1,067,327 1,544,066 1,544,066 1,067,327 1,852,879 2,689,663 3,529,294 23,344,996
Total Revenues 6,145,627 5,072,766 3,946,927 4,017,892 2,855,297 2,549,725 3,688,602 3,688,602 2,549,725 4,151,822 5,188,754 6,734,642 50,590,381
% Growth 0.0% (17.5%) (22.2%) 1.8% (28.9%) (10.7%) 44.7% 0.0% (30.9%) 62.8% 25.0% 29.8% 0.0%
% of Hotel Total Revenues 71.0% 70.9% 68.9% 66.7% 65.8% 64.0% 64.0% 64.0% 64.0% 66.7% 72.1% 71.5% 68.1%
AVERAGE SELLING RATE 7,288 7,288 6,631 5,979 5,757 5,312 5,312 5,312 5,312 5,979 7,721 8,486 6,477
% Growth 0.0% 0.0% -9.0% -9.8% -3.7% -7.7% 0.0% 0.0% 0.0% 12.6% 29.1% 9.9% (23.7%)
Occupancy % 85% 75% 60% 70% 50% 50% 70% 70% 50% 70% 70% 80% 67%
RevPAR 6,195 5,466 3,979 4,185 2,878 2,656 3,718 3,718 2,656 4,185 5,405 6,789 4,320
% Growth 0.0% (11.8%) (27.2%) 5.2% (31.2%) -7.7% 40.0% 0.0% (28.6%) 57.6% 29.1% 25.6% (36.4%)
Salaries and Employee Related benefits

Salaries & Wages - Housekeeping (225,000) (225,000) (225,000) (225,000) (225,000) (225,000) (225,000) (225,000) (225,000) (225,000) (225,000) (225,000) (2,700,000)
% of Revenues 3.7% 4.4% 5.7% 5.6% 7.9% 8.8% 6.1% 6.1% 8.8% 5.4% 4.3% 3.3% 5.3%
Salaries & Wages - Front Office (292,000) (292,000) (292,000) (292,000) (292,000) (292,000) (292,000) (292,000) (292,000) (292,000) (292,000) (292,000) (3,504,000)
% of Revenues 4.8% 5.8% 7.4% 7.3% 10.2% 11.5% 7.9% 7.9% 11.5% 7.0% 5.6% 4.3% 6.9%
Bonus - - - - - - - - - - - - -
% of Revenues 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Employee Meals (36,500) (36,500) (36,500) (36,500) (36,500) (36,500) (36,500) (36,500) (36,500) (36,500) (36,500) (36,500) (438,000)
% of Revenues 0.6% 0.7% 0.9% 0.9% 1.3% 1.4% 1.0% 1.0% 1.4% 0.9% 0.7% 0.5% 0.9%
Employee Benefits (4,200) (4,200) (4,200) (4,200) (4,200) (4,200) (4,200) (4,200) (4,200) (4,200) (4,200) (4,200) (50,400)
% of Revenues 0.1% 0.1% 0.1% 0.1% 0.1% 0.2% 0.1% 0.1% 0.2% 0.1% 0.1% 0.1% 0.1%
701419272.xlsx
Selling Rates
Social Security Fund (18,000) (18,000) (18,000) (18,000) (18,000) (18,000) (18,000) (18,000) (18,000) (18,000) (18,000) (18,000) (216,000)
% of Revenues 0.3% 0.4% 0.5% 0.4% 0.6% 0.7% 0.5% 0.5% 0.7% 0.4% 0.3% 0.3% 0.4%
Total Salaries and Employee Related benefits (575,700) (575,700) (575,700) (575,700) (575,700) (575,700) (575,700) (575,700) (575,700) (575,700) (575,700) (575,700) (6,908,400)
% of Revenues 9.4% 11.3% 14.6% 14.3% 20.2% 22.6% 15.6% 15.6% 22.6% 13.9% 11.1% 8.5% 13.7%
Other Expenses
Laundry (61,456) (50,728) (39,469) (40,179) (28,553) (25,497) (36,886) (36,886) (25,497) (41,518) (51,888) (67,346) (505,904)
Guest Supplies (% of Rooms Revenues) (307,281) (253,638) (197,346) (200,895) (142,765) (127,486) (184,430) (184,430) (127,486) (207,591) (259,438) (336,732) (2,529,519)
Cleaning Supplies (% of Rooms Revenues) (24,583) (20,291) (15,788) (16,072) (11,421) (10,199) (14,754) (14,754) (10,199) (16,607) (20,755) (26,939) (202,362)
Printing and Stationery (% of Rooms Revenues) (6,146) (5,073) (3,947) (4,018) (2,855) (2,550) (3,689) (3,689) (2,550) (4,152) (5,189) (6,735) (50,590)
Postage & Telegram (590) (487) (379) (386) (274) (245) (354) (354) (245) (399) (498) (647) (4,857)
Telephone & Fax (% of Rooms Revenues) (1,229) (1,015) (789) (804) (571) (510) (738) (738) (510) (830) (1,038) (1,347) (10,118)
Internet Cost (% of Rooms Revenues) (18,437) (15,218) (11,841) (12,054) (8,566) (7,649) (11,066) (11,066) (7,649) (12,455) (15,566) (20,204) (151,771)
Licenses & Taxes (THB) (0) (0) (0) (0) (0) (0) (0) (0) (0) (0) (0) (0) (0)
Decoration (% of Rooms Revenues) (6,146) (5,073) (3,947) (4,018) (2,855) (2,550) (3,689) (3,689) (2,550) (4,152) (5,189) (6,735) (50,590)
Transportation&Travelling Exp. (% of Rooms Revenues) (61,456) (50,728) (39,469) (40,179) (28,553) (25,497) (36,886) (36,886) (25,497) (41,518) (51,888) (67,346) (505,904)
Gardener Expenses (% of Rooms Revenues) - - - - - - - - - - - - -
……. (% of Rooms Revenues) - - - - - - - - - - - - -
Room Laundry (from House laundry) - - - - - - - - - - - - -
Cost of Uniform/emp/yr start yr2 (THB) - - - - - - - - - - - - -
Entertainment (% of Rooms Revenues) (2,458) (2,029) (1,579) (1,607) (1,142) (1,020) (1,475) (1,475) (1,020) (1,661) (2,076) (2,694) (20,236)
Contract Cleaning Expenses (% of Rooms Revenues) - - - - - - - - - - - - -
Uniform Laundry (from House laundry) - - - - - - - - - - - - -
Costs Wholesale distribution (% of Wholesale Rooms Revenues) - - - - - - - - - - - - -
Commission Agency (% of OTA Rooms Revenues) - - - - - - - - - - - - -
Costs Direct Distribution (% of Direct Rooms Revenues) - - - - - - - - - - - - -
Guest Transportation (% of Rooms Revenues) - - - - - - - - - - - - -
Room Radio & TV (% of Rooms Revenues) (9,218) (7,609) (5,920) (6,027) (4,283) (3,825) (5,533) (5,533) (3,825) (6,228) (7,783) (10,102) (75,886)
Newspapers & Magazine (% of Rooms Revenues) - - - - - - - - - - - - -
…. - - - - - - - - - - - - -
Loss & Damage - Chinaware (% of Rooms Revenues) (6,146) (5,073) (3,947) (4,018) (2,855) (2,550) (3,689) (3,689) (2,550) (4,152) (5,189) (6,735) (50,590)
Loss & Damage - Glassware (% of Rooms Revenues) - - - - - - - - - - - - -
Linen Replacement (% of Rooms Revenues) (18,437) (15,218) (11,841) (12,054) (8,566) (7,649) (11,066) (11,066) (7,649) (12,455) (15,566) (20,204) (151,771)
Fruit Basket (% of Rooms Revenues) (615) (507) (395) (402) (286) (255) (369) (369) (255) (415) (519) (673) (5,059)
Welcome Drink (% of Rooms Revenues) (615) (507) (395) (402) (286) (255) (369) (369) (255) (415) (519) (673) (5,059)
… (% of Rooms Revenues) (1,475) (1,217) (947) (964) (685) (612) (885) (885) (612) (996) (1,245) (1,616) (12,142)
Total Other Expenses (526,287) (434,411) (337,999) (344,076) (244,516) (218,348) (315,877) (315,877) (218,348) (355,545) (444,344) (576,728) (4,332,358)
% of Revenues 8.6% 8.6% 8.6% 8.6% 8.6% 8.6% 8.6% 8.6% 8.6% 8.6% 8.6% 8.6% 8.6%
Departmental Profit 5,043,640 4,062,655 3,033,228 3,098,116 2,035,080 1,755,677 2,797,025 2,797,025 1,755,677 3,220,576 4,168,710 5,582,214 39,349,623
% Margin 82.1% 80.1% 76.9% 77.1% 71.3% 68.9% 75.8% 75.8% 68.9% 77.6% 80.3% 82.9% 77.8%
Condos - Distibution of Revenues & Costs
Revenues
Total Revenues - - - - - - - - - - - - -
Total Revenues - Owners' share (before Agent com. & credit card costs) - - - - - - - - - - - - -
% of Private Villas Total Revenues - - - - - - - - - - - - -
Commission Agency - - - - - - - - - - - - -
% of OTA Private Villlas Total Revenues - - - - - - - - - - - - -
bank/creditcard costs - - - - - - - - - - - - -
Owners' Gross Rental Income - - - - - - - - - - - - -
701419272.xlsx
Selling Rates
Maintenance Expenses (Building & Ground) (347,772) (313,465) (285,110) (297,247) (257,421) (251,400) (296,584) (296,584) (251,400) (302,148) (311,311) (354,497) (3,564,938)
Front Office Employee Costs - - - - - - - - - - - - -
Other Costs incurred in connection with the Villas - - - - - - - - - - - - -
Renovation & Maintenance Capex - - - - - - - - - - - - -
Insurance Cost (2,105) (2,105) (2,105) (2,105) (2,105) (2,105) (2,105) (2,105) (2,105) (2,105) (2,105) (2,105) (25,265)
Owners's Net Rental Income (349,878) (315,571) (287,215) (299,353) (259,526) (253,505) (298,689) (298,689) (253,505) (304,253) (313,416) (356,602) (3,590,203)
% of Private Villas Total Revenues #DIV/0! #DIV/0! #DIV/0! #DIV/0! - - - - - - - - -
NET YIELD - Condos Owners (0.5%)
Account for Front Office Employees -

Account for Other Costs incurred -
Account for Insurance -
Condos - split by category

Family Suite 40 40 40 40 40 40 40 40 40 40 40 40 40
Tente safari 60 60 60 60 60 60 60 60 60 60 60 60 60
Suite 20 20 20 20 20 20 20 20 20 20 20 20 20
Total Condos 120 120 120 120 120 120 120 120 120 120 120 120 120
Condos - Price per sqm

Family Suite 95,763
Tente safari 101,389
Suite 99,513
Deluxe
Daily maximum revenue
Average rate
Condos - Acquisition Cost Area (m^2) Per unit All units

Family Suite 70 6,703,390 268,135,593
Family Deluxe 50 5,069,444 304,166,667
Suite 105 10,448,865 208,977,300
Deluxe
Daily maximum revenue
Average rate
781,279,560
701419272.xlsx
Selling Rates
2025E 2026E 2027E 2028E 2029E 2030E 2031E 2032E 2033E
365 365 365 366 365 365 365 366 365

12 12 12 12 12 12 12 12 12
16,082 16,565 17,228 17,917 18,633 19,379 20,154 20,960 21,798

13,225 13,622 14,166 14,733 15,322 15,935 16,573 17,236 17,925
10,270 10,578 11,001 11,441 11,899 12,375 12,870 13,385 13,920
7,985 8,224 8,553 8,895 9,251 9,621 10,006 10,406 10,823
310,948 320,277 333,088 346,411 360,268 374,679 389,666 405,252 421,462
9,717 10,009 10,409 10,825 11,258 11,709 12,177 12,664 13,171
30% 30% 30% 30% 30% 30% 30% 30% 30%

51% 51% 51% 51% 51% 51% 51% 51% 51%
29% 29% 29% 29% 29% 29% 29% 29% 29%
22% 22% 22% 22% 22% 22% 22% 22% 22%

17% 17% 17% 17% 17% 17% 17% 17% 17%
10% 10% 10% 10% 10% 10% 10% 10% 10%
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
22.0% 22.0% 22.0% 22.0% 22.0% 22.0% 22.0% 22.0% 22.0%

17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0%
10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%
12,258 12,626 13,131 13,656 14,202 14,770 15,361 15,975 16,614 17,279 -
10,080 10,382 10,797 11,229 11,679 12,146 12,632 13,137 13,662 14,209 -
7,828 8,062 8,385 8,720 9,069 9,432 9,809 10,202 10,610 11,034 -
6,086 6,268 6,519 6,780 7,051 7,333 7,627 7,932 8,249 8,579 -
9,201 13,995 23,337 41,308 78,423 152,308 299,849 120,318 125,761
9,717 10,009 10,409 10,825 11,258 11,709 12,177 12,664
72% 74% 76% 78% 78% 78% 78% 78% 78%

72% 74% 76% 78% 78% 78% 78% 78% 78%
72% 74% 76% 78% 78% 78% 78% 78% 78%
72% 74% 76% 78% 78% 78% 78% 78% 78%
72% 74% 76% 78% 78% 78% 78% 384% 733%
2 2 2 2 2 2 2 2 2
4 4 4 4 4 4 4 4 4
8 8 8 8 8 8 8 8 8
18 18 18 18 18 18 18 18 18
32 32 32 32 32 32 32 32 32
730 730 730 732 730 730 730 732 730

1,460 1,460 1,460 1,464 1,460 1,460 1,460 1,464 1,460
701419272.xlsx
Selling Rates
2,920 2,920 2,920 2,928 2,920 2,920 2,920 2,928 2,920

6,570 6,570 6,570 6,588 6,570 6,570 6,570 6,588 6,570
11,680 11,680 11,680 11,712 11,680 11,680 11,680 11,712 11,680
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
730 730 730 732 730 730 730 732 730

1,460 1,460 1,460 1,464 1,460 1,460 1,460 1,464 1,460
2,920 2,920 2,920 2,928 2,920 2,920 2,920 2,928 2,920
6,570 6,570 6,570 6,588 6,570 6,570 6,570 6,588 6,570
11,680 11,680 11,680 11,712 11,680 11,680 11,680 11,712 11,680
523 538 553 569 567 567 567 569 567

1,047 1,076 1,105 1,137 1,134 1,134 1,134 1,137 1,134
2,093 2,152 2,210 2,275 2,269 2,269 2,269 2,275 2,269
4,730 4,862 4,993 5,139 5,125 5,125 5,125 40,977 81,683
8,394 8,628 8,861 9,120 9,095 9,095 9,095 44,958 85,653
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
8,394 8,628 8,861 9,120 9,095 9,095 9,095 44,958 85,653
3,286 3,052 2,819 2,592 2,585 2,585 2,585 (33,246) (73,973)
3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00

25,182 25,883 26,583 27,359 27,284 27,284 27,284 134,873 256,960
24 24 24 24 24 24 24 24 24
6,415,357 6,792,152 7,255,545 7,766,362 8,054,948 8,377,146 8,712,232 9,085,545 9,423,150

10,550,860 11,170,546 11,932,654 12,772,757 13,247,373 13,777,268 14,328,359 14,942,319 15,497,553
16,386,785 17,349,234 18,532,882 19,837,665 20,574,803 21,397,795 22,253,706 23,207,262 24,069,609
43,877,586 85,433,737 169,067,533 336,341,958 671,360,431 1,341,653,535 2,681,763,005 5,361,981,944 10,722,896,561
77,230,588 120,745,668 206,788,615 376,718,742 713,237,555 1,385,205,744 2,727,057,302 5,409,217,071 10,771,886,873
52.7% 56.3% 71.3% 82.2% 89.3% 94.2% 96.9% 98.4% 99.1%
90.9% 136.4% 222.7% 386.0% 707.5% 1328.1% 2526.9% 4836.4% 9320.7%
9,201 13,995 23,337 41,308 78,423 152,308 299,849 120,318 125,761

42.1% 52.1% 66.7% 77.0% 89.8% 94.2% 96.9% (59.9%) 4.5%
72% 74% 76% 78% 78% 78% 78% 384% 733%
6,612 10,338 17,705 32,165 61,065 118,596 233,481 461,853 922,251
53.1% 56.3% 71.3% 81.7% 89.8% 94.2% 96.9% 97.8% 99.7%
(2,700,000) (2,754,000) (2,809,080) (2,865,262) (2,922,567) (2,981,018) (3,040,639) (3,101,451) (3,163,480)

3.5% 2.3% 1.4% 0.8% 0.4% 0.2% 0.1% 0.1% 0.0%
(3,504,000) (3,574,080) (3,645,562) (3,718,473) (3,792,842) (3,868,699) (3,946,073) (4,024,995) (4,105,494)
4.5% 3.0% 1.8% 1.0% 0.5% 0.3% 0.1% 0.1% 0.0%
- - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
(438,000) (446,760) (455,695) (464,809) (474,105) (483,587) (493,259) (503,124) (513,187)
0.6% 0.4% 0.2% 0.1% 0.1% 0.0% 0.0% 0.0% 0.0%
(50,400) (51,408) (52,436) (53,485) (54,555) (55,646) (56,759) (57,894) (59,052)
0.1% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
701419272.xlsx
Selling Rates
(216,000) (220,320) (224,726) (229,221) (233,805) (238,481) (243,251) (248,116) (253,078)

0.3% 0.2% 0.1% 0.1% 0.0% 0.0% 0.0% 0.0% 0.0%
(6,908,400) (7,046,568) (7,187,499) (7,331,249) (7,477,874) (7,627,432) (7,779,980) (7,935,580) (8,094,292)
8.9% 5.8% 3.5% 1.9% 1.0% 0.6% 0.3% 0.1% 0.1%
(772,306) (1,207,457) (2,067,886) (3,767,187) (7,132,376) (13,852,057) (27,270,573) (54,092,171) (107,718,869)

(3,861,529) (6,037,283) (10,339,431) (18,835,937) (35,661,878) (69,260,287) (136,352,865) (270,460,854) (538,594,344)
(308,922) (482,983) (827,154) (1,506,875) (2,852,950) (5,540,823) (10,908,229) (21,636,868) (43,087,547)
(77,231) (120,746) (206,789) (376,719) (713,238) (1,385,206) (2,727,057) (5,409,217) (10,771,887)
(7,414) (11,592) (19,852) (36,165) (68,471) (132,980) (261,798) (519,285) (1,034,101)
(15,446) (24,149) (41,358) (75,344) (142,648) (277,041) (545,411) (1,081,843) (2,154,377)
(231,692) (362,237) (620,366) (1,130,156) (2,139,713) (4,155,617) (8,181,172) (16,227,651) (32,315,661)
(0) (0) (0) (0) (0) (0) (0) (0) (0)
(77,231) (120,746) (206,789) (376,719) (713,238) (1,385,206) (2,727,057) (5,409,217) (10,771,887)
(772,306) (1,207,457) (2,067,886) (3,767,187) (7,132,376) (13,852,057) (27,270,573) (54,092,171) (107,718,869)
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
(72,000) (73,440) (74,909) (76,407) (77,935) (79,494) (81,084) (82,705) (84,359)
(30,892) (48,298) (82,715) (150,687) (285,295) (554,082) (1,090,823) (2,163,687) (4,308,755)
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
(115,846) (181,119) (310,183) (565,078) (1,069,856) (2,077,809) (4,090,586) (8,113,826) (16,157,830)
- - - - - - - - -
- - - - - - - - -
(77,231) (120,746) (206,789) (376,719) (713,238) (1,385,206) (2,727,057) (5,409,217) (10,771,887)
- - - - - - - - -
(231,692) (362,237) (620,366) (1,130,156) (2,139,713) (4,155,617) (8,181,172) (16,227,651) (32,315,661)
(7,723) (12,075) (20,679) (37,672) (71,324) (138,521) (272,706) (540,922) (1,077,189)
(7,723) (12,075) (20,679) (37,672) (71,324) (138,521) (272,706) (540,922) (1,077,189)
(18,535) (28,979) (49,629) (90,412) (171,177) (332,449) (654,494) (1,298,212) (2,585,253)
(6,685,719) (10,413,616) (17,783,459) (32,337,093) (61,156,746) (118,702,973) (233,615,363) (463,306,418) (922,545,664)
8.7% 8.6% 8.6% 8.6% 8.6% 8.6% 8.6% 8.6% 8.6%
63,636,469 103,285,484 181,817,657 337,050,400 644,602,934 1,258,875,339 2,485,661,959 4,937,975,072 9,841,246,918

82.4% 85.5% 87.9% 89.5% 90.4% 90.9% 91.1% 91.3% 91.4%
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
701419272.xlsx
Selling Rates
(3,754,750) (3,864,451) (3,985,030) (4,112,726) (4,209,001) (4,311,000) (4,415,751) (4,526,759) (4,633,843)

- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
(25,770) (26,285) (26,811) (27,347) (27,894) (28,452) (29,021) (29,602) (30,194)
(3,780,520) (3,890,736) (4,011,841) (4,140,073) (4,236,895) (4,339,453) (4,444,773) (4,556,361) (4,664,037)

- - - - - - - - -
(0.5%) (0.5%) (0.5%) (0.5%) (0.5%) (0.6%) (0.6%) (0.6%) (0.6%)
40 40 40 40 40 40 40 40 40
60 60 60 60 60 60 60 60 60
20 20 20 20 20 20 20 20 20
120 120 120 120 120 120 120 120 120
701419272.xlsx
Rooms
Rooms department: Financial Projections
Fiscal Year Ends 31/12 Jan-01 Feb-01 Mar-01 Apr-01 May-01 Jun-01 Jul-01 Aug-01 Sep-01 Oct-01 Nov-01 Dec-01 2024E 2025E
In THB
P&L
Effective nb of days in a year 366 366 365 365 365 365 365 365 365 365 365 365 365 365
Effective nb of months in a year 12 12 12 12 12 12 12 12 12 12 12 12 12 12
Family Suite 17,250 17,250 16,100 14,950 14,375 14,375 14,375 14,375 14,375 14,950 16,100 17,250 15,614 16,082
Tente safari 14,375 14,375 13,225 12,650 11,500 11,500 11,500 11,500 11,500 12,650 13,225 14,375 12,840 13,225
Suite 11,500 11,500 10,350 9,200 8,625 8,625 8,625 8,625 8,625 9,200 11,000 12,000 9,971 10,270
Deluxe 8,625 8,625 7,820 6,900 6,900 5,750 5,750 5,750 5,750 6,900 10,350 11,500 7,752 7,985
Wholesale & groups 30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30%
OTA 40% 40% 40% 40% 40% 40% 40% 40% 40% 40% 40% 40% 51% 51%
Direct 30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 19% 29%

Wholesale & groups 22% 22% 22% 22% 22% 22% 22% 22% 22% 22% 22% 22% 22% 22%
OTA 17% 17% 17% 17% 17% 17% 17% 17% 17% 17% 17% 17% 17% 17%
Direct 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10%

Wholesale & groups - - - - - - - - - - - - - -
OTA - - - - - - - - - - - - - -
Direct - - - - - - - - - - - - - -
Total Discount, Commissions & Costs distribution chanel:

OTA 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0%
Direct 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%
Rate per category after discount & allowance& VAT & SC:
Family Suite 11,859 11,859 11,069 10,278 9,883 9,883 9,883 9,883 9,883 10,278 11,069 11,859 10,734 12,258
Tente safari 9,883 9,883 9,092 8,697 7,906 7,906 7,906 7,906 7,906 8,697 9,092 9,883 8,827 10,080
Suite 7,906 7,906 7,116 6,325 5,930 5,930 5,930 5,930 5,930 6,325 7,562 8,250 6,855 7,828
Deluxe 5,930 5,930 5,376 4,744 4,744 3,953 3,953 3,953 3,953 4,744 7,116 7,906 5,330 6,086
Overall ADR 7,288 7,288 6,631 5,979 5,757 5,312 5,312 5,312 5,312 5,979 7,721 8,466 6,482 7,453

Family Suite 85% 75% 60% 70% 50% 50% 70% 70% 50% 70% 70% 80% 67% 72%
Tente safari 85% 75% 60% 70% 50% 50% 70% 70% 50% 70% 70% 80% 67% 72%
Suite 85% 75% 60% 70% 50% 50% 70% 70% 50% 70% 70% 80% 67% 72%
Deluxe 85% 75% 60% 70% 50% 50% 70% 70% 50% 70% 70% 85% 67% 72%
Overall Occupancy (%) 85% 75% 60% 70% 50% 50% 70% 70% 50% 70% 70% 80% 67% 72%

Family Suite 2 2 2 2 2 2 2 2 2 2 2 2 2 2
Tente safari 4 4 4 4 4 4 4 4 4 4 4 4 4 4
Suite 8 8 8 8 8 8 8 8 8 8 8 8 8 8
Deluxe 18 18 18 18 18 18 18 18 18 18 18 18 18 18
Total Room units 32 32 32 32 32 32 32 32 32 32 32 32 32 32
Rooms statistics
Total number of Rooms per category:

Family Suite 62 58 62 60 62 60 62 62 60 62 60 62 732 730
Tente safari 124 116 124 120 124 120 124 124 120 124 120 124 1,464 1,460
Suite 248 232 248 240 248 240 248 248 240 248 240 248 2,928 2,920
Deluxe 558 522 558 540 558 540 558 558 540 558 540 558 6,570 6,570
Total number of Rooms 992 928 992 960 992 960 992 992 960 992 960 992 11,694 11,680
701419272.xlsx
Rooms

Family Suite - - - - - - - - - - - - - -
Tente safari - - - - - - - - - - - - - -
Suite - - - - - - - - - - - - - -
Deluxe - - - - - - - - - - - - - -
Daily maximum revenue - - - - - - - - - - - - - -
Average rate - - - - - - - - - - - - - -
Total Nb of Out Of Order rooms - - - - - - - - - - - - - -
Rooms Available per category

Family Suite 62 58 62 60 62 60 62 62 60 62 60 62 732 730
Tente safari 124 116 124 120 124 120 124 124 120 124 120 124 1,464 1,460
Suite 248 232 248 240 248 240 248 248 240 248 240 248 2,928 2,920
Deluxe 558 522 558 540 558 540 558 558 540 558 540 558 6,588 6,570
Total Rooms Available 992 928 992 960 992 960 992 992 960 992 960 992 11,712 11,680
Rooms Sold per category

Family Suite 53 44 37 42 31 30 43 43 30 43 42 50 488 523
Tente safari 105 87 74 84 62 60 87 87 60 87 84 99 976 1,047
Suite 211 174 149 168 124 120 174 174 120 174 168 198 1,953 2,093
Deluxe 474 392 335 378 279 270 391 391 270 391 378 474 4,422 4,423
Total Rooms Sold 843 696 595 672 496 480 694 694 480 694 672 822 7,839 8,086
Rooms Complementary - - - - - - - - - - - - - -
Rooms Condo owners - - - - - - - - - - - - - -
Rooms House Used - - - - - - - - - - - - - -
Total Rooms Occupied 843 696 595 672 496 480 694 694 480 694 672 822 7,839 8,086
Rooms Vacant 149 232 397 288 496 480 298 298 480 298 288 171 3,873 3,594
Average nb of guests per occupied room 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00
Total number of guests 2,530 2,088 1,786 2,016 1,488 1,440 2,083 2,083 1,440 2,083 2,016 2,465 23,517 24,259
Rooms Department Total Staff Headcount 24 24 24 24 24 24 24 24 24 24 24 24 24 24
Revenues
Family Suite 624,979 515,875 411,751 431,674 306,362 296,480 428,907 428,907 296,480 446,063 464,880 588,216 5,240,574 6,415,357
Tente safari 1,041,632 859,791 676,448 730,526 490,180 474,367 686,252 686,252 474,367 754,877 763,732 980,359 8,618,781 10,550,860
Suite 1,666,611 1,375,665 1,058,788 1,062,583 735,269 711,551 1,029,377 1,029,377 711,551 1,098,002 1,270,480 1,636,774 13,386,030 16,386,785
Deluxe 2,812,406 2,321,436 1,799,940 1,793,109 1,323,485 1,067,327 1,544,066 1,544,066 1,067,327 1,852,879 2,689,663 3,749,874 23,565,577 26,916,177
Total Revenues 6,145,627 5,072,766 3,946,927 4,017,892 2,855,297 2,549,725 3,688,602 3,688,602 2,549,725 4,151,822 5,188,754 6,955,223 50,810,962 60,269,179
% Growth 0.0% (17.5%) (22.2%) 1.8% (28.9%) (10.7%) 44.7% 0.0% (30.9%) 62.8% 25.0% 34.0% 43.7% 18.6%
% of Hotel Total Revenues 71.0% 70.9% 68.9% 66.7% 65.8% 64.0% 64.0% 64.0% 64.0% 66.7% 72.1% 73.9% 68.4% 71.0%
ADR 7,288 7,288 6,631 5,979 5,757 5,312 5,312 5,312 5,312 5,979 7,721 8,466 6,482 7,453
% Growth 0.0% 0.0% -9.0% -9.8% -3.7% -7.7% 0.0% 0.0% 0.0% 12.6% 29.1% 9.7% (23.4%) 15.0%
Occupancy % 85% 75% 60% 70% 50% 50% 70% 70% 50% 70% 70% 83% 67% 69%
RevPAR 6,195 5,466 3,979 4,185 2,878 2,656 3,718 3,718 2,656 4,185 5,405 7,011 4,338 5,160
% Growth 0.0% -11.8% -27.2% 5.2% -31.2% -7.7% 40.0% 0.0% -28.6% 57.6% 29.1% 29.7% -38.1% 18.9%

Salaries & Wages - Housekeeping (225,000) (225,000) (225,000) (225,000) (225,000) (225,000) (225,000) (225,000) (225,000) (225,000) (225,000) (225,000) (2,700,000) (2,700,000)
% of Revenues 3.7% 4.4% 5.7% 5.6% 7.9% 8.8% 6.1% 6.1% 8.8% 5.4% 4.3% 3.2% 5.3% 4.5%
Salaries & Wages - Front Office (292,000) (292,000) (292,000) (292,000) (292,000) (292,000) (292,000) (292,000) (292,000) (292,000) (292,000) (292,000) (3,504,000) (3,504,000)
% of Revenues 4.8% 5.8% 7.4% 7.3% 10.2% 11.5% 7.9% 7.9% 11.5% 7.0% 5.6% 4.2% 6.9% 5.8%
Bonus - - - - - - - - - - - - - -
% of Revenues 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Employee Meals (36,500) (36,500) (36,500) (36,500) (36,500) (36,500) (36,500) (36,500) (36,500) (36,500) (36,500) (36,500) (438,000) (438,000)
% of Revenues 0.6% 0.7% 0.9% 0.9% 1.3% 1.4% 1.0% 1.0% 1.4% 0.9% 0.7% 0.5% 0.9% 0.7%
Employee Benefits (4,200) (4,200) (4,200) (4,200) (4,200) (4,200) (4,200) (4,200) (4,200) (4,200) (4,200) (4,200) (50,400) (50,400)
701419272.xlsx
Rooms
% of Revenues 0.1% 0.1% 0.1% 0.1% 0.1% 0.2% 0.1% 0.1% 0.2% 0.1% 0.1% 0.1% 0.1% 0.1%
Social Security Fund (18,000) (18,000) (18,000) (18,000) (18,000) (18,000) (18,000) (18,000) (18,000) (18,000) (18,000) (18,000) (216,000) (216,000)
% of Revenues 0.3% 0.4% 0.5% 0.4% 0.6% 0.7% 0.5% 0.5% 0.7% 0.4% 0.3% 0.3% 0.4% 0.4%
Total Salaries and Employee Related benefits (575,700) (575,700) (575,700) (575,700) (575,700) (575,700) (575,700) (575,700) (575,700) (575,700) (575,700) (575,700) (6,908,400) (6,908,400)
% of Revenues 9.4% 11.3% 14.6% 14.3% 20.2% 22.6% 15.6% 15.6% 22.6% 13.9% 11.1% 8.3% 13.6% 11.5%
Other Expenses
Laundry (61,456) (50,728) (39,469) (40,179) (28,553) (25,497) (36,886) (36,886) (25,497) (41,518) (51,888) (69,552) (508,110) (602,692)
Guest Supplies (% of Rooms Revenues) (307,281) (253,638) (197,346) (200,895) (142,765) (127,486) (184,430) (184,430) (127,486) (207,591) (259,438) (347,761) (2,540,548) (3,013,459)
Cleaning Supplies (% of Rooms Revenues) (24,583) (20,291) (15,788) (16,072) (11,421) (10,199) (14,754) (14,754) (10,199) (16,607) (20,755) (27,821) (203,244) (241,077)
Printing and Stationery (% of Rooms Revenues) (6,146) (5,073) (3,947) (4,018) (2,855) (2,550) (3,689) (3,689) (2,550) (4,152) (5,189) (6,955) (50,811) (60,269)
Postage & Telegram (590) (487) (379) (386) (274) (245) (354) (354) (245) (399) (498) (668) (4,878) (5,786)
Telephone & Fax (% of Rooms Revenues) (1,229) (1,015) (789) (804) (571) (510) (738) (738) (510) (830) (1,038) (1,391) (10,162) (12,054)
Internet Cost (% of Rooms Revenues) (18,437) (15,218) (11,841) (12,054) (8,566) (7,649) (11,066) (11,066) (7,649) (12,455) (15,566) (20,866) (152,433) (180,808)
Licenses & Taxes (THB) (1,229) (1,015) (789) (804) (571) (510) (738) (738) (510) (830) (1,038) (1,391) (10,162) (0)
Decoration (% of Rooms Revenues) (6,146) (5,073) (3,947) (4,018) (2,855) (2,550) (3,689) (3,689) (2,550) (4,152) (5,189) (6,955) (50,811) (60,269)
Transportation&Travelling Exp. (% of Rooms Revenues) (61,456) (50,728) (39,469) (40,179) (28,553) (25,497) (36,886) (36,886) (25,497) (41,518) (51,888) (69,552) (508,110) (602,692)
Gardener Expenses (% of Rooms Revenues) - - - - - - - - - - - - - -
……. (% of Rooms Revenues) - - - - - - - - - - - - - -
Room Laundry (from House laundry) - - - - - - - - - - - - - -
Cost of Uniform/emp/yr start yr2 (THB) - - - - - - - - - - - - - (72,000)
Entertainment (% of Rooms Revenues) (2,458) (2,029) (1,579) (1,607) (1,142) (1,020) (1,475) (1,475) (1,020) (1,661) (2,076) (2,782) (20,324) (24,108)
Contract Cleaning Expenses (% of Rooms Revenues) - - - - - - - - - - - - - -
Uniform Laundry (from House laundry) - - - - - - - - - - - - - -
Costs Wholesale distribution (% of Wholesale Rooms Revenues) - - - - - - - - - - - - - -
1 - - - - - - - - - - - - - -
Costs Direct Distribution (% of Direct Rooms Revenues) - - - - - - - - - - - - - -
Guest Transportation (% of Rooms Revenues) - - - - - - - - - - - - - -
Room Radio & TV (% of Rooms Revenues) (9,218) (7,609) (5,920) (6,027) (4,283) (3,825) (5,533) (5,533) (3,825) (6,228) (7,783) (10,433) (76,216) (90,404)
Newspapers & Magazine (% of Rooms Revenues) - - - - - - - - - - - - - -
…. - - - - - - - - - - - - - -
Loss & Damage - Chinaware (% of Rooms Revenues) (6,146) (5,073) (3,947) (4,018) (2,855) (2,550) (3,689) (3,689) (2,550) (4,152) (5,189) (6,955) (50,811) (60,269)
Loss & Damage - Glassware (% of Rooms Revenues) - - - - - - - - - - - - - -
Linen Replacement (% of Rooms Revenues) (18,437) (15,218) (11,841) (12,054) (8,566) (7,649) (11,066) (11,066) (7,649) (12,455) (15,566) (20,866) (152,433) (180,808)
Fruit Basket (% of Rooms Revenues) (615) (507) (395) (402) (286) (255) (369) (369) (255) (415) (519) (696) (5,081) (6,027)
Welcome Drink (% of Rooms Revenues) (615) (507) (395) (402) (286) (255) (369) (369) (255) (415) (519) (696) (5,081) (6,027)
… (% of Rooms Revenues) (1,475) (1,217) (947) (964) (685) (612) (885) (885) (612) (996) (1,245) (1,669) (12,195) (14,465)
Total Other Expenses (527,516) (435,426) (338,788) (344,880) (245,087) (218,858) (316,615) (316,615) (218,858) (356,376) (445,382) (597,009) (4,361,410) (5,233,211)
% of Revenues 8.6% 8.6% 8.6% 8.6% 8.6% 8.6% 8.6% 8.6% 8.6% 8.6% 8.6% 8.6% 8.6% 8.7%
Departmental Profit 5,042,411 4,061,641 3,032,438 3,097,312 2,034,509 1,755,167 2,796,287 2,796,287 1,755,167 3,219,746 4,167,673 5,782,515 39,541,152 48,127,567
% Margin 82.0% 80.1% 76.8% 77.1% 71.3% 68.8% 75.8% 75.8% 68.8% 77.6% 80.3% 83.1% 77.8% 79.9%
Condos - Distibution of Revenues & Costs ???
Revenues
Total Revenues - - - - - - - - - - - - - -
Total Revenues - Owners' share (before Agent com. & credit card costs) - - - - - - - - - - - - - -
% of Private Villas Total Revenues - - - - - - - - - - - - - -
Commission Agency - - - - - - - - - - - - - -
% of OTA Private Villlas Total Revenues - - - - - - - - - - - - - -
bank/creditcard costs - - - - - - - - - - - - - -
Owners' Gross Rental Income - - - - - - - - - - - - - -
701419272.xlsx
Rooms

Maintenance Expenses (Building & Ground) (347,772) (313,465) (285,110) (297,247) (257,421) (251,400) (296,584) (296,584) (251,400) (302,148) (311,311) (354,497) (3,564,938) (3,754,750)
Front Office Employee Costs - - - - - - - - - - - - - -
Other Costs incurred in connection with the Villas - - - - - - - - - - - - - -
Renovation & Maintenance Capex - - - - - - - - - - - - - -
Insurance Cost (2,105) (2,105) (2,105) (2,105) (2,105) (2,105) (2,105) (2,105) (2,105) (2,105) (2,105) (2,105) (25,265) (25,770)
Owners's Net Rental Income (349,878) (315,571) (287,215) (299,353) (259,526) (253,505) (298,689) (298,689) (253,505) (304,253) (313,416) (356,602) (3,590,203) (3,780,520)
NET YIELD - Condos Owners (3.6%) (3.8%)
Account for Front Office Employees -

Account for Other Costs incurred -
Account for Insurance -
Condos - split by category

Family Suite 13 13 13 13 13 13 13 13 13 13 13 13 13 13
#REF! 2 2 2 2 2 2 2 2 2 2 2 2 2 2
Hute - - - - - - - - - - - - - -
Tente safari 8 8 8 8 8 8 8 8 8 8 8 8 8 8
#REF! - - - - - - - - - - - - - -
#REF! 7 7 7 7 7 7 7 7 7 7 7 7 7 7
Suite 1 1 1 1 1 1 1 1 1 1 1 1 1 1
Total Condos 31 31 31 31 31 31 31 31 31 31 31 31 31 31
Condos - Price per sqm

Family Suite 95,763
#REF! 101,389
Hute
Tente safari
#REF! 99,513
#REF! 99,513
Suite 99,513
Condos - Acquisition Cost Area (m^2) Per unit All units

Family Suite 45 4,309,322 8,618,644
#REF! 75 7,604,167 -
Hute
Tente safari
#REF! 105 10,448,865 -
#REF! 105 10,448,865 73,142,055
Suite 170 16,917,210 16,917,210
98,677,909
701419272.xlsx
Rooms
2026E 2027E 2028E 2029E 2030E 2031E 2032E 2033E 2034E
365 365 366 365 365 365 366 365 365

12 12 12 12 12 12 12 12 12
16,565 17,228 17,917 18,633 19,379 20,154 20,960 21,798 22,670

13,622 14,166 14,733 15,322 15,935 16,573 17,236 17,925 18,642
10,578 11,001 11,441 11,899 12,375 12,870 13,385 13,920 14,477
8,224 8,553 8,895 9,251 9,621 10,006 10,406 10,823 11,255
30% 30% 30% 30% 30% 30% 30% 30% 30%

51% 51% 51% 51% 51% 51% 51% 51% 51%
29% 29% 29% 29% 29% 29% 29% 29% 29%
22% 22% 22% 22% 22% 22% 22% 22% 22%

17% 17% 17% 17% 17% 17% 17% 17% 17%
10% 10% 10% 10% 10% 10% 10% 10% 10%
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
22.0% 22.0% 22.0% 22.0% 22.0% 22.0% 22.0% 22.0% 22.0%

17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0% 17.0%
10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%
12,626 13,131 13,656 14,202 14,770 15,361 15,975 16,614 17,279

10,382 10,797 11,229 11,679 12,146 12,632 13,137 13,662 14,209
8,062 8,385 8,720 9,069 9,432 9,809 10,202 10,610 11,034
6,268 6,519 6,780 7,051 7,333 7,627 7,932 8,249 8,579
7,698 8,027 8,372 8,704 9,052 9,414 9,793 10,182 10,589
74% 76% 78% 78% 78% 78% 78% 78% 78%

74% 76% 78% 78% 78% 78% 78% 78% 78%
74% 76% 78% 78% 78% 78% 78% 78% 78%
74% 76% 78% 78% 78% 78% 78% 78% 78%
74% 76% 78% 78% 78% 78% 78% 78% 78%
2 2 2 2 2 2 2 2 2
4 4 4 4 4 4 4 4 4
8 8 8 8 8 8 8 8 8
18 18 18 18 18 18 18 18 18
32 32 32 32 32 32 32 32 32
730 730 732 730 730 730 732 730 730

1,460 1,460 1,464 1,460 1,460 1,460 1,464 1,460 1,460
2,920 2,920 2,928 2,920 2,920 2,920 2,928 2,920 2,920
6,570 6,570 6,588 6,570 6,570 6,570 6,588 6,570 6,570
11,680 11,680 11,712 11,680 11,680 11,680 11,712 11,680 11,680
701419272.xlsx
Rooms
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
730 730 732 730 730 730 732 730 730

1,460 1,460 1,464 1,460 1,460 1,460 1,464 1,460 1,460
2,920 2,920 2,928 2,920 2,920 2,920 2,928 2,920 2,920
6,570 6,570 6,588 6,570 6,570 6,570 6,588 6,570 6,570
11,680 11,680 11,712 11,680 11,680 11,680 11,712 11,680 11,680
538 553 569 567 567 567 569 567 567

1,076 1,105 1,137 1,134 1,134 1,134 1,137 1,134 1,134
2,152 2,210 2,275 2,269 2,269 2,269 2,275 2,269 2,269
4,424 4,425 4,426 4,427 4,428 4,429 4,430 4,431 4,432
8,190 8,293 8,407 8,397 8,398 8,399 8,411 8,401 8,402
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
8,190 8,293 8,407 8,397 8,398 8,399 8,411 8,401 8,402
3,490 3,387 3,305 3,283 3,282 3,281 3,301 3,279 3,278
3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00

24,569 24,878 25,221 25,191 25,194 25,197 25,233 25,203 25,206
24 24 24 24 24 24 24 24 24
6,792,152 7,255,545 7,766,362 8,054,948 8,377,146 8,712,232 9,085,545 9,423,150 9,800,076

11,170,546 11,932,654 12,772,757 13,247,373 13,777,268 14,328,359 14,942,319 15,497,553 16,117,455
17,349,234 18,532,882 19,837,665 20,574,803 21,397,795 22,253,706 23,207,262 24,069,609 25,032,393

27,730,119 28,846,038 30,006,863 31,214,400 32,470,530 33,777,206 35,136,464 36,550,419 38,021,272
63,042,050 66,567,120 70,383,647 73,091,524 76,022,738 79,071,503 82,371,590 85,540,730 88,971,196
4.6% 5.6% 5.7% 3.8% 4.0% 4.0% 4.2% 3.8% 4.0%
71.2% 71.7% 72.1% 72.5% 72.9% 73.3% 73.6% 74.0% #DIV/0!
7,698 8,027 8,372 8,704 9,052 9,414 9,793 10,182 10,589

3.3% 4.3% 4.3% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0%
70% 71% 72% 72% 72% 72% 72% 72% 72%
5,397 5,699 6,010 6,258 6,509 6,770 7,033 7,324 7,617
4.6% 5.6% 5.4% 4.1% 4.0% 4.0% 3.9% 4.1% 4.0%
(2,754,000) (2,809,080) (2,865,262) (2,922,567) (2,981,018) (3,040,639) (3,101,451) (3,163,480) (3,226,750)

4.4% 4.2% 4.1% 4.0% 3.9% 3.8% 3.8% 3.7% 3.6%
(3,574,080) (3,645,562) (3,718,473) (3,792,842) (3,868,699) (3,946,073) (4,024,995) (4,105,494) (4,187,604)
5.7% 5.5% 5.3% 5.2% 5.1% 5.0% 4.9% 4.8% 4.7%
- - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
(446,760) (455,695) (464,809) (474,105) (483,587) (493,259) (503,124) (513,187) (523,451)
0.7% 0.7% 0.7% 0.6% 0.6% 0.6% 0.6% 0.6% 0.6%
(51,408) (52,436) (53,485) (54,555) (55,646) (56,759) (57,894) (59,052) (60,233)
701419272.xlsx
Rooms
0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1%

(220,320) (224,726) (229,221) (233,805) (238,481) (243,251) (248,116) (253,078) (258,140)
0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3%
(7,046,568) (7,187,499) (7,331,249) (7,477,874) (7,627,432) (7,779,980) (7,935,580) (8,094,292) (8,256,178)
11.2% 10.8% 10.4% 10.2% 10.0% 9.8% 9.6% 9.5% 9.3%
(630,421) (665,671) (703,836) (730,915) (760,227) (790,715) (823,716) (855,407) (889,712)

(3,152,103) (3,328,356) (3,519,182) (3,654,576) (3,801,137) (3,953,575) (4,118,580) (4,277,037) (4,448,560)
(252,168) (266,268) (281,535) (292,366) (304,091) (316,286) (329,486) (342,163) (355,885)
(63,042) (66,567) (70,384) (73,092) (76,023) (79,072) (82,372) (85,541) (88,971)
(6,052) (6,390) (6,757) (7,017) (7,298) (7,591) (7,908) (8,212) (8,541)
(12,608) (13,313) (14,077) (14,618) (15,205) (15,814) (16,474) (17,108) (17,794)
(189,126) (199,701) (211,151) (219,275) (228,068) (237,215) (247,115) (256,622) (266,914)
(0) (0) (0) (0) (0) (0) (0) (0) (0)
(63,042) (66,567) (70,384) (73,092) (76,023) (79,072) (82,372) (85,541) (88,971)
(630,421) (665,671) (703,836) (730,915) (760,227) (790,715) (823,716) (855,407) (889,712)
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
(73,440) (74,909) (76,407) (77,935) (79,494) (81,084) (82,705) (84,359) (86,047)
(25,217) (26,627) (28,153) (29,237) (30,409) (31,629) (32,949) (34,216) (35,588)
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
(94,563) (99,851) (105,575) (109,637) (114,034) (118,607) (123,557) (128,311) (133,457)
- - - - - - - - -
- - - - - - - - -
(63,042) (66,567) (70,384) (73,092) (76,023) (79,072) (82,372) (85,541) (88,971)
- - - - - - - - -
(189,126) (199,701) (211,151) (219,275) (228,068) (237,215) (247,115) (256,622) (266,914)
(6,304) (6,657) (7,038) (7,309) (7,602) (7,907) (8,237) (8,554) (8,897)
(6,304) (6,657) (7,038) (7,309) (7,602) (7,907) (8,237) (8,554) (8,897)
(15,130) (15,976) (16,892) (17,542) (18,245) (18,977) (19,769) (20,530) (21,353)
(5,472,109) (5,775,451) (6,103,781) (6,337,201) (6,589,777) (6,852,451) (7,136,679) (7,409,725) (7,705,184)
8.7% 8.7% 8.7% 8.7% 8.7% 8.7% 8.7% 8.7% 8.7%
50,523,373 53,604,170 56,948,617 59,276,449 61,805,529 64,439,072 67,299,332 70,036,713 73,009,834

80.1% 80.5% 80.9% 81.1% 81.3% 81.5% 81.7% 81.9% 82.1%
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
701419272.xlsx
Rooms
- - - - - - - - -
(3,864,451) (3,985,030) (4,112,726) (4,209,001) (4,311,000) (4,415,751) (4,526,759) (4,633,843) -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
(26,285) (26,811) (27,347) (27,894) (28,452) (29,021) (29,602) (30,194) -
(3,890,736) (4,011,841) (4,140,073) (4,236,895) (4,339,453) (4,444,773) (4,556,361) (4,664,037) -

- - - - - - - - -
(3.9%) (4.1%) (4.2%) (4.3%) (4.4%) (4.5%) (4.6%) (4.7%) -
13 13 13 13 13 13 13 13 13
2 2 2 2 2 2 2 2 2
- - - - - - - - -
8 8 8 8 8 8 8 8 8
- - - - - - - - -
7 7 7 7 7 7 7 7 7
1 1 1 1 1 1 1 1 1
31 31 31 31 31 31 31 31 31
701419272.xlsx
F&B
F&B department: Financial Projections
Fiscal Year Ends 31/12 Jan-01 Feb-01 Mar-01 Apr-01 May-01 Jun-01 Jul-01 Aug-01 Sep-01 Oct-01
In THB
Total number of guests 2,530 2,088 1,786 2,016 1,488 1,440 2,083 2,083 1,440 2,083
F&B Department Total Staff Headcount 21 21 21 21 21 21 21 21 21 21
B-Bar & Restaurant
Number of Seats - - - - - - - - - -
BREAKFAST
Capture ratio BF - Food 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0%
Average Rev per Cover BF - Food 280.0 280.0 280.0 280.0 280.0 280.0 280.0 280.0 280.0 280.0
Capture ratio BF - Beverage 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Average Rev per Cover BF - Beverage - - - - - - - - - -
Nb of Covers BF 2,024 1,670 1,428 1,613 1,190 1,152 1,667 1,667 1,152 1,667
Avg BF Check 280 280 280 280 280 280 280 280 280 280
LUNCH
Capture ratio Lunch - Food 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%
Average Rev per Cover Lunch - Food 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0
Capture ratio Lunch - Beverage 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%
Average Rev per Cover Lunch - Beverage 150.0 150.0 150.0 150.0 150.0 150.0 150.0 150.0 150.0 150.0
Capture ratio Lunch - Wine 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Average Rev per Cover Lunch - Wine - - - - - - - - - -
Nb of Covers Lunch 759 626 536 605 446 432 625 625 432 625
Avg Lunch Check 493,272 407,160 348,192 393,120 290,160 280,800 406,224 406,224 280,800 406,224
DINNER
Capture ratio Dinner - Food 80% 80% 80% 80% 80% 80% 80% 80% 80% 80%
Average Rev per Cover DINNER - Food 800.0 800.0 800.0 800.0 800.0 800.0 800.0 800.0 800.0 800.0
Capture ratio DINNER - Beverage 50% 50% 50% 50% 50% 50% 50% 50% 50% 50%
Average Rev per Cover DINNER - Beverage 200.0 200.0 200.0 200.0 200.0 200.0 200.0 200.0 200.0 200.0
Capture ratio DINNER - Wine 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Average Rev per Cover DINNER - Wine - - - - - - - - - -
Nb of Covers Dinner 2,024 1,670 1,428 1,613 1,190 1,152 1,667 1,667 1,152 1,667
Avg Dinner Check 925 925 925 925 925 925 925 925 925 925
Cigarette & Cigar Rev (% of Food, Beverage and Wine Rev) - - - - - - - - - -

Other Rev (% of Food, Beverage and Wine Rev) - - - - - - - - - -
Allowance & Discount Rev (% of Food, Beverage and Wine Rev) - - - - - - - - - -
Total number of covers - B-Bar & Restaurant 4,806 3,967 3,393 3,830 2,827 2,736 3,958 3,958 2,736 3,958
701419272.xlsx
F&B
Avg Food Check 534 534 534 534 534 534 534 534 534 534
Avg Bev Check 76 76 76 76 76 76 76 76 76 76
Avg Wine Check - - - - - - - - - -
Avg Other Check - - - - - - - - - -
Avg F&B Check 610 610 610 610 610 610 610 610 610 610
Swimming pool Bar
Number of Seats - - - - - - - - - -
BREAKFAST
Average Rev per Cover BF - Food - - - - - - - - - -
Nb of Covers BF - - - - - - - - - -
Avg BF Check - - - - - - - - - -
LUNCH
Average Rev per Cover Lunch - Food 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
Average Rev per Cover Lunch - Beverage - - - - - - - - - -
Nb of Covers Lunch - - - - - - - - - -
Avg Lunch Check - - - - - - - - - -
DINNER
Average Rev per Cover DINNER - Food - - - - - - - - - -
Average Rev per Cover DINNER - Beverage - - - - - - - - - -
Nb of Covers Dinner - - - - - - - - - -
Avg Dinner Check - - - - - - - - - -

Total number of covers - Swimming pool Bar - - - - - - - - - -
Avg Food Check - - - - - - - - - -

Avg Bev Check - - - - - - - - - -
701419272.xlsx
F&B
Avg Wine Check - - - - - - - - - -

Avg Other Check - - - - - - - - - -
Avg F&B Check - - - - - - - - - -
Restaurant 3
Number of Seats - - - - - - - - - -
BREAKFAST
Average Rev per Cover BF - Food - - - - - - - - - -
Nb of Covers BF - - - - - - - - - -
Avg BF Check - - - - - - - - - -
LUNCH
Average Rev per Cover Lunch - Food - - - - - - - - - -
Average Rev per Cover Lunch - Beverage - - - - - - - - - -
Nb of Covers Lunch - - - - - - - - - -
Avg Lunch Check - - - - - - - - - -
DINNER
Average Rev per Cover DINNER - Food - - - - - - - - - -
Average Rev per Cover DINNER - Beverage - - - - - - - - - -
Avg Dinner Check - - - - - - - - - -

Total number of covers - Restaurant 3 - - - - - - - - - -
Avg Food Check - - - - - - - - - -

Avg Bev Check - - - - - - - - - -
Avg Wine Check - - - - - - - - - -
Avg Other Check - - - - - - - - - -
701419272.xlsx
F&B
Avg F&B Check - - - - - - - - - -
Room Service
Number of Seats - - - - - - - - - -
BREAKFAST
Average Rev per Cover BF - Food 200.0 350.0 350.0 350.0 350.0 350.0 350.0 350.0 350.0 350.0
Average Rev per Cover BF - Beverage 100 100 100 100 100 100 100 100 100 100
Nb of Covers BF 25 21 18 20 15 14 21 21 14 21
Avg BF Check 300 450 350 350 350 350 350 350 350 350
LUNCH
Average Rev per Cover Lunch - Food - 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0
Average Rev per Cover Lunch - Beverage - 200.0 200.0 200.0 200.0 200.0 200.0 200.0 200.0 200.0
Nb of Covers Lunch - 21 18 20 15 14 21 21 14 21
Avg Lunch Check - 14,616 12,499 14,112 10,416 10,080 14,582 14,582 10,080 14,582
DINNER
Average Rev per Cover DINNER - Food 800.0 800.0 800.0 800.0 800.0 800.0 800.0 800.0 800.0 800.0
Average Rev per Cover DINNER - Beverage 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0
Nb of Covers Dinner 25 21 18 20 15 14 21 21 14 21
Avg Dinner Check 32,885 27,144 23,213 26,208 19,344 18,720 27,082 27,082 18,720 27,082

Total number of covers - Room Service 51 63 54 60 45 43 62 62 43 62
Avg Food Check - - - - - - - - - -

Avg Bev Check - - - - - - - - - -
Avg Wine Check - - - - - - - - - -
Avg Other Check - - - - - - - - - -
Avg F&B Check - - - - - - - - - -
701419272.xlsx
F&B
Banqueting
Nb of events - - - - - - - - - -
Average nb of guests per event - - - - - - - - - -
Nb of Covers Food (yearly) - - - - - - - - - -
Nb of Covers Beverage (yearly) - - - - - - - - - -
Nb of Covers Wine (yearly) - - - - - - - - - -
Average Rev per Cover - Food - - - - - - - - - -
Average Rev per Cover - Beverage - - - - - - - - - -
Average Rev per Cover - Wine - - - - - - - - - -
Avg Dinner Check - - - - - - - - - -

Total number of covers - Banqueting - - - - - - - - - -
Avg Food Check - - - - - - - - - -

Avg Bev Check - - - - - - - - - -
Avg Wine Check - - - - - - - - - -
Avg Other Check - - - - - - - - - -
Avg F&B Check - - - - - - - - - -
F&B Summary
Total Nb of Covers BF 2,049 1,691 1,446 1,633 1,205 1,166 1,687 1,687 1,166 1,687
Total Nb of Covers Lunch 759 647 554 625 461 446 646 646 446 646
Total Nb of Covers Dinner 2,049 1,691 1,446 1,633 1,205 1,166 1,687 1,687 1,166 1,687
Total number of covers - F&B 4,857 4,030 3,446 3,891 2,872 2,779 4,021 4,021 2,779 4,021
- - - - - - - - - -
Avg BF Check 280 282 281 281 281 281 281 281 281 281
Avg Lunch Check - - - - - - - - - -
Avg Dinner Check 1,320 1,249 1,200 1,237 1,152 1,145 1,248 1,248 1,145 1,248
Avg Food Check 533 534 534 534 534 534 534 534 534 534
Avg Bev Check 79 79 79 79 79 79 79 79 79 79
Avg Wine Check - - - - - - - - - -
Avg Other Check - - - - - - - - - -
Avg F&B Check 612 613 613 613 613 613 613 613 613 613
701419272.xlsx
F&B
(104) (104) (104) (104) (104) (104) (104) (104) (104) (104)
Revenues
Food B-Bar & Restaurant 2,565,014 2,117,232 1,810,598 2,044,224 1,508,832 1,460,160 2,112,365 2,112,365 1,460,160 2,112,365
Food Swimming pool Bar - - - - - - - - - -
Food Restaurant 3 - - - - - - - - - -
Food Room Service 25,296 34,452 29,462 33,264 24,552 23,760 34,373 34,373 23,760 34,373
Food Banqueting - - - - - - - - - -
Total Food Revenues 2,590,310 2,151,684 1,840,061 2,077,488 1,533,384 1,483,920 2,146,738 2,146,738 1,483,920 2,146,738
% Growth 0.0% -16.9% -14.5% 12.9% -26.2% -3.2% 44.7% 0.0% -30.9% 44.7%
Beverage B-Bar & Restaurant 366,792 302,760 258,912 292,320 215,760 208,800 302,064 302,064 208,800 302,064
Beverage Swimming pool Bar - - - - - - - - - -
Beverage Restaurant 3 - - - - - - - - - -
Beverage Room Service 15,178 16,704 12,499 14,112 10,416 10,080 14,582 14,582 10,080 14,582
Beverage Banqueting - - - - - - - - - -
Total Beverage Revenues 381,970 319,464 271,411 306,432 226,176 218,880 316,646 316,646 218,880 316,646
% Growth 0.0% -16.4% -15.0% 12.9% -26.2% -3.2% 44.7% 0.0% -30.9% 44.7%
Wine B-Bar & Restaurant - - - - - - - - - -
Wine Swimming pool Bar - - - - - - - - - -
Wine Restaurant 3 - - - - - - - - - -
Wine Room Service - - - - - - - - - -
Wine Banqueting - - - - - - - - - -
Total Wine Revenues - - - - - - - - - -
% Growth 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Cigarette & Cigar B-Bar & Restaurant - - - - - - - - - -
Cigarette & Cigar Swimming pool Bar - - - - - - - - - -
Cigarette & Cigar Restaurant 3 - - - - - - - - - -
Cigarette & Cigar Room Service - - - - - - - - - -
Cigarette & Cigar Banqueting - - - - - - - - - -
Total Cigarette & Cigar Revenues - - - - - - - - - -
% Growth 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Other Revenue B-Bar & Restaurant - - - - - - - - - -
Other Revenue Swimming pool Bar - - - - - - - - - -
Other Revenue Restaurant 3 - - - - - - - - - -
Other Revenue Room Service - - - - - - - - - -
Other Revenue Banqueting - - - - - - - - - -
Total Other Revenue - - - - - - - - - -
% Growth 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Allowance & Discount B-Bar & Restaurant - - - - - - - - - -
Allowance & Discount Swimming pool Bar - - - - - - - - - -
Allowance & Discount Restaurant 3 - - - - - - - - - -
Allowance & Discount Room Service - - - - - - - - - -
701419272.xlsx
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Allowance & Discount Banqueting - - - - - - - - - -

Total Allowance & Discount - - - - - - - - - -
Total Revenues 2,466,992 2,051,053 1,752,522 1,978,654 1,460,435 1,413,324 2,044,609 2,044,609 1,413,324 2,044,609
% Growth 0.0% -16.9% -14.6% 12.9% -26.2% -3.2% 44.7% 0.0% -30.9% 44.7%
% of Hotel Total Revenues 28.5% 28.7% 30.6% 32.8% 33.7% 35.5% 35.5% 35.5% 35.5% 32.8%
Cost of Sales
Food B-Bar & Restaurant (795,154) (656,342) (561,286) (633,709) (467,738) (452,650) (654,833) (654,833) (452,650) (654,833)
Food Swimming pool Bar - - - - - - - - - -
Food Restaurant 3 - - - - - - - - - -
Food Room Service (7,842) (10,680) (9,133) (10,312) (7,611) (7,366) (10,656) (10,656) (7,366) (10,656)
Food Banqueting - - - - - - - - - -
Total Cost of Sales - Food (802,996) (667,022) (570,419) (644,021) (475,349) (460,015) (665,489) (665,489) (460,015) (665,489)
% of Food Revenues 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0%
Beverage B-Bar & Restaurant (73,358) (60,552) (51,782) (58,464) (43,152) (41,760) (60,413) (60,413) (41,760) (60,413)
Beverage Swimming pool Bar - - - - - - - - - -
Beverage Restaurant 3 - - - - - - - - - -
Beverage Room Service (3,036) (3,341) (2,500) (2,822) (2,083) (2,016) (2,916) (2,916) (2,016) (2,916)
Beverage Banqueting - - - - - - - - - -
Total Cost of Sales - Beverage (76,394) (63,893) (54,282) (61,286) (45,235) (43,776) (63,329) (63,329) (43,776) (63,329)
% of Beverage Revenues 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0%
Wine B-Bar & Restaurant - - - - - - - - - -
Wine Swimming pool Bar - - - - - - - - - -
Wine Restaurant 3 - - - - - - - - - -
Wine Room Service - - - - - - - - - -
Wine Banqueting - - - - - - - - - -
Total Cost of Sales - Wine - - - - - - - - - -
% of Wine Revenues 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Cigarette & Cigar B-Bar & Restaurant - - - - - - - - - -
Cigarette & Cigar Swimming pool Bar - - - - - - - - - -
Cigarette & Cigar Restaurant 3 - - - - - - - - - -
Cigarette & Cigar Room Service - - - - - - - - - -
Cigarette & Cigar Banqueting - - - - - - - - - -
Total Cos of Sales - Cigarette & Cigar - - - - - - - - - -
% of Cigarette & Cigar Revenues 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Other B-Bar & Restaurant - - - - - - - - - -
Other Swimming pool Bar - - - - - - - - - -
Other Restaurant 3 - - - - - - - - - -
Other Room Service - - - - - - - - - -
Other Banqueting - - - - - - - - - -
Total Cost of Sales - Other Revenues - - - - - - - - - -
701419272.xlsx
F&B
% of Other Revenues 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Total Cost of Sales (879,390) (730,915) (624,701) (705,308) (520,584) (503,791) (728,818) (728,818) (503,791) (728,818)
% of Revenues 35.6% 35.6% 35.6% 35.6% 35.6% 35.6% 35.6% 35.6% 35.6% 35.6%
Gross Profit 1,587,602 1,320,138 1,127,821 1,273,346 939,851 909,533 1,315,791 1,315,791 909,533 1,315,791
% Margin 64.4% 64.4% 64.4% 64.4% 64.4% 64.4% 64.4% 64.4% 64.4% 64.4%

Salaries & Wages - Kitchen (255,000) (255,000) (255,000) (255,000) (255,000) (255,000) (255,000) (255,000) (255,000) (255,000)
% of Revenues 10.3% 12.4% 14.6% 12.9% 17.5% 18.0% 12.5% 12.5% 18.0% 12.5%
Salaries & Wages - Service (270,000) (270,000) (270,000) (270,000) (270,000) (270,000) (270,000) (270,000) (270,000) (270,000)
% of Revenues 10.9% 13.2% 15.4% 13.6% 18.5% 19.1% 13.2% 13.2% 19.1% 13.2%
Bonus - - - - - - - - - -
% of Revenues 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Employee Meals (31,938) (31,938) (31,938) (31,938) (31,938) (31,938) (31,938) (31,938) (31,938) (31,938)
% of Revenues 1.3% 1.6% 1.8% 1.6% 2.2% 2.3% 1.6% 1.6% 2.3% 1.6%
Employee Benefits (3,675) (3,675) (3,675) (3,675) (3,675) (3,675) (3,675) (3,675) (3,675) (3,675)
% of Revenues 0.1% 0.2% 0.2% 0.2% 0.3% 0.3% 0.2% 0.2% 0.3% 0.2%
Social Security Fund (15,750) (15,750) (15,750) (15,750) (15,750) (15,750) (15,750) (15,750) (15,750) (15,750)
% of Revenues 0.6% 0.8% 0.9% 0.8% 1.1% 1.1% 0.8% 0.8% 1.1% 0.8%
Total Salaries and Employee Related benefits (576,363) (576,363) (576,363) (576,363) (576,363) (576,363) (576,363) (576,363) (576,363) (576,363)
% of Revenues 23.4% 28.1% 32.9% 29.1% 39.5% 40.8% 28.2% 28.2% 40.8% 28.2%
Other Expenses
Guest Supplies (% of F&B Revenue) (12,335) (10,255) (8,763) (9,893) (7,302) (7,067) (10,223) (10,223) (7,067) (10,223)
Cleaning Supplies (% of F&B Revenue) (123,350) (102,553) (87,626) (98,933) (73,022) (70,666) (102,230) (102,230) (70,666) (102,230)
Printing and Stationary (% of F&B Revenue) (1,233) (1,026) (876) (989) (730) (707) (1,022) (1,022) (707) (1,022)
Replacement Kitchen Utensils (% of F&B Revenue) - - - - - - - - - -
Telephone & Fax (% of F&B Revenue) - - - - - - - - - -
Kitchen gas (% of F&B Revenue) (24,670) (20,511) (17,525) (19,787) (14,604) (14,133) (20,446) (20,446) (14,133) (20,446)
Licenses & Taxes (% of F&B Revenue) (296) (246) (210) (237) (175) (170) (245) (245) (170) (245)
Decoration (% of F&B Revenue) (1,233) (1,026) (876) (989) (730) (707) (1,022) (1,022) (707) (1,022)
Transportion&Travelling Exp. (% of F&B Revenue) - - - - - - - - - -
Entertainment (% of F&B Revenue) - - - - - - - - - -
…. (% of F&B Revenue) - - - - - - - - - -
Laundry Linnen (frm House Laundry) - - - - - - - - - -
Cost of Uniform/emp/yr start yr2 (THB) - - - - - - - - - -
Operating Supplies (% of F&B Revenue) (1,233) (1,026) (876) (989) (730) (707) (1,022) (1,022) (707) (1,022)
Banquet Expenses (THB) - - - - - - - - - -
Music & Band (THB) - - - - - - - - - -
Food & Drink Lists (% of F&B Revenue) (247) (205) (175) (198) (146) (141) (204) (204) (141) (204)
Uniform Laundry (frm House Laundry) - - - - - - - - - -
…. (THB) - - - - - - - - - -
701419272.xlsx
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.. (% of F&B Revenue) - - - - - - - - - -
.. (% of F&B Revenue) - - - - - - - - - -
Loss & Damage - Holloware (% of F&B Revenue) - - - - - - - - - -
Loss & Damage - Chinaware (% of F&B Revenue) (987) (820) (701) (791) (584) (565) (818) (818) (565) (818)
Loss & Damage - Glassware (% of F&B Revenue) (987) (820) (701) (791) (584) (565) (818) (818) (565) (818)
Linen Replacement (% of F&B Revenue) - - - - - - - - - -
Breakage & Spoilage (% of F&B Revenue) - - - - - - - - - -
…. (% of F&B Revenue) - - - - - - - - - -
…. (% of F&B Revenue) - - - - - - - - - -
Others (% of F&B Revenue) (1,233) (1,026) (876) (989) (730) (707) (1,022) (1,022) (707) (1,022)
Total Other Expenses (167,805) (139,513) (119,207) (134,588) (99,339) (96,134) (139,074) (139,074) (96,134) (139,074)
% of Revenues 6.8% 6.8% 6.8% 6.8% 6.8% 6.8% 6.8% 6.8% 6.8% 6.8%
Departmental Profit 843,435 604,263 432,252 562,395 264,149 237,036 600,354 600,354 237,036 600,354
% Margin 34.2% 29.5% 24.7% 28.4% 18.1% 16.8% 29.4% 29.4% 16.8% 29.4%
701419272.xlsx
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Nov-01 Dec-01 2024E 2025E 2026E 2027E 2028E 2029E 2030E 2031E 2032E 2033E
2,016 2,465 23,517 24,259 24,569 24,878 25,221 25,191 25,194 25,197 25,233 25,203
21 21 21 21 21 21 21 21 21 21 21 21
- - - - - - - - - - - -
80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0% 80.0%
280.0 280.0 280.0 285.6 291.3 297.1 303.1 309.1 315.3 321.6 328.1 334.6
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - - -
1,613 1,972 18,814 19,407 19,655 19,902.6 20,176.5 20,152.8 20,155.3 20,157.8 20,186.4 20,162.7
280 280 280 286 291 297 303 309 315 322 328 335
30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%
500.0 500.0 500.0 510.0 520.2 530.6 541.2 552.0 563.1 574.3 585.8 597.5
30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%
150.0 150.0 150.0 153.0 156.1 159.2 162.4 165.6 168.9 172.3 175.7 179.3
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - - -
605 739 7,055 7,278 7,371 7,463 7,566 7,557 7,558 7,559 7,570 7,561
393,120 480,578 4,585,874 4,825,091 4,984,422 5,148,196 5,323,416 5,423,524 5,532,673 5,644,018 5,765,060 5,873,477
80% 80% 80% 80% 80% 80% 80% 80% 80% 80% 80% 80%
800.0 800.0 800.0 816.0 832.3 849.0 865.9 883.3 900.9 918.9 937.3 956.1
50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50%
200.0 200.0 200.0 204.0 208.1 212.2 216.5 220.8 225.2 229.7 234.3 239.0
0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
- - - - - - - - - - - -
1,613 1,972 18,814 19,407 19,655 19,903 20,176 20,153 20,155 20,158 20,186 20,163
925 925 925 944 962 982 1,001 1,021 1,042 1,063 1,084 1,105
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
3,830 4,683 44,683 46,092 46,680 47,269 47,919 47,863 47,869 47,875 47,943 47,886
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534 534 534 544 555 566 578 589 601 613 625 638
76 76 76 78 79 81 83 84 86 88 89 91
- - - - - - - - - - - -
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610 610 610 622 635 647 660 673 687 701 715 729
- - - - - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - - -
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0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
100.0 100.0 100.0 102.0 104.0 106.1 108.2 110.4 112.6 114.9 117.2 119.5
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - - -
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0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
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0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
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0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
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- - - - - - - - - - - -
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0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - - -
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0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
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0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - - -
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0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
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0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
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0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
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1.0% 1.0% 1.0% 1.0% 1.0% 1.0% 1.0% 1.0% 1.0% 1.0% 1.0% 1.0%
350.0 350.0 350.0 357.0 364.1 371.4 378.9 386.4 394.2 402.0 410.1 418.3
0.0% 0.0% 0.1% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
100 100 92 94 95 97 99 101 103 105 107 110
20 25 235 243 246 248.8 252.2 251.9 251.9 252.0 252.3 252.0
350 350 358 357 364 371 379 386 394 402 410 418
1.0% 1.0% 0.9% 0.9% 0.9% 0.9% 0.9% 0.9% 0.9% 0.9% 0.9% 0.9%
500.0 500.0 458.3 467.5 476.9 486.4 496.1 506.0 516.2 526.5 537.0 547.8
1.0% 1.0% 0.9% 0.9% 0.9% 0.9% 0.9% 0.9% 0.9% 0.9% 0.9% 0.9%
200.0 200.0 183.3 187.0 190.7 194.6 198.4 202.4 206.5 210.6 214.8 219.1
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - - -
20 25 216 222 225 228 231 231 231 231 231 231
14,112 17,252 138,327 145,543 150,349 155,289 160,575 163,594 166,887 170,245 173,896 177,166
1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1%
800.0 800.0 800.0 816.0 832.3 849.0 865.9 883.3 900.9 918.9 937.3 956.1
1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1%
500.0 500.0 500.0 510.0 520.2 530.6 541.2 552.0 563.1 574.3 585.8 597.5
0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
- - - - - - - - - - - -
20 25 235 243 246 249 252 252 252 252 252 252
26,208 32,039 305,725 321,673 332,295 343,213 354,894 361,568 368,845 376,268 384,337 391,565
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
60 74 686 708 717 726 736 735 735 735 736 735
- - - - - - - - - - - -
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- - - - - - - - - - - -
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- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
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1,633 1,996 19,049 19,650 19,901 20,151 20,429 20,405 20,407 20,410 20,439 20,415
625 764 7,271 7,500 7,596 7,692 7,797 7,788 7,789 7,790 7,801 7,792
1,633 1,996 19,049 19,650 19,901 20,151 20,429 20,405 20,407 20,410 20,439 20,415
3,891 4,756 45,369 46,799 47,397 47,994 48,655 48,598 48,604 48,610 48,679 48,622
- - - - - - - - - - - -
281 281 281 286 292 298 304 310 316 323 329 336
- - - - - - - - - - - -
1,237 1,309 4,688 4,903 5,053 5,207 5,370 5,472 5,582 5,695 5,815 5,926
534 534 534 544 555 566 578 589 601 613 625 638
79 79 79 80 82 83 85 87 89 90 92 94
- - - - - - - - - - - -
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613 613 613 625 637 650 663 676 690 703 718 732
701419272.xlsx
F&B
(104) (104) (104) (106) (108) (110) (113) (115) (117) (120) (122) (124)
2,044,224 2,499,003 23,846,542 25,090,473 25,918,995 26,770,621 27,681,761 28,202,323 28,769,898 29,348,895 29,978,313 30,542,080
- - - - - - - - - - - -
- - - - - - - - - - - -
33,264 40,664 371,593 388,516 401,345 414,532 428,641 436,702 445,490 454,456 464,202 472,932
- - - - - - - - - - - -
2,077,488 2,539,667 24,218,135 25,478,989 26,320,340 27,185,154 28,110,402 28,639,025 29,215,389 29,803,351 30,442,515 31,015,012
-3.2% 22.2% 0.0% 5.2% 3.3% 3.3% 3.4% 1.9% 2.0% 2.0% 2.1% 1.9%
292,320 357,353 3,410,009 3,587,888 3,706,365 3,828,146 3,958,437 4,032,877 4,114,039 4,196,834 4,286,840 4,367,457
- - - - - - - - - - - -
- - - - - - - - - - - -
14,112 17,252 164,180 165,304 170,763 176,373 182,376 185,806 189,545 193,360 197,507 201,221
- - - - - - - - - - - -
306,432 374,604 3,574,188 3,753,192 3,877,128 4,004,519 4,140,813 4,218,683 4,303,584 4,390,194 4,484,346 4,568,678
-3.2% 22.2% 0.0% 5.0% 3.3% 3.3% 3.4% 1.9% 2.0% 2.0% 2.1% 1.9%
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
701419272.xlsx
F&B
- - - - - - - - - - - -
- - - - - - - - - - - -
1,978,654 2,418,845 23,067,628 24,262,710 25,063,898 25,887,429 26,768,509 27,271,897 27,820,747 28,380,643 28,989,295 29,534,463
-3.2% 22.2% 0.0% 5.2% 3.3% 3.3% 3.4% 1.9% 2.0% 2.0% 2.1% 1.9%
27.5% 25.7% 31.1% 28.6% 28.3% 27.9% 27.4% 27.1% 26.7% 26.3% 25.9% 25.6%
(633,709) (774,691) (7,392,428) (7,778,047) (8,034,888) (8,298,893) (8,581,346) (8,742,720) (8,918,668) (9,098,158) (9,293,277) (9,468,045)
- - - - - - - - - - - -
- - - - - - - - - - - -
(10,312) (12,606) (115,194) (120,440) (124,417) (128,505) (132,879) (135,378) (138,102) (140,881) (143,903) (146,609)
- - - - - - - - - - - -
(644,021) (787,297) (7,507,622) (7,898,487) (8,159,305) (8,427,398) (8,714,225) (8,878,098) (9,056,771) (9,239,039) (9,437,180) (9,614,654)
31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0% 31.0%
(58,464) (71,471) (682,002) (717,578) (741,273) (765,629) (791,687) (806,575) (822,808) (839,367) (857,368) (873,491)
- - - - - - - - - - - - 275,990
- - - - - - - - - - - - 111,511
(2,822) (3,450) (32,836) (33,061) (34,153) (35,275) (36,475) (37,161) (37,909) (38,672) (39,501) (40,244) 134,287
- - - - - - - - - - - -
(61,286) (74,921) (714,838) (750,638) (775,426) (800,904) (828,163) (843,737) (860,717) (878,039) (896,869) (913,736)
20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0%
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
701419272.xlsx
F&B
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
(705,308) (862,218) (8,222,460) (8,649,125) (8,934,731) (9,228,301) (9,542,387) (9,721,834) (9,917,487) (10,117,078) (10,334,049) (10,528,389)
35.6% 35.6% 35.6% 35.6% 35.6% 35.6% 35.6% 35.6% 35.6% 35.6% 35.6% 35.6%
1,273,346 1,556,627 14,845,169 15,613,585 16,129,167 16,659,127 17,226,121 17,550,063 17,903,260 18,263,565 18,655,246 19,006,073
64.4% 64.4% 64.4% 64.4% 64.4% 64.4% 64.4% 64.4% 64.4% 64.4% 64.4% 64.4%
(255,000) (255,000) (3,060,000) (3,121,200) (3,183,624) (3,247,296) (3,312,242) (3,378,487) (3,446,057) (3,514,978) (3,585,278) (3,656,983)
12.9% 10.5% 13.3% 12.9% 12.7% 12.5% 12.4% 12.4% 12.4% 12.4% 12.4% 12.4%
(270,000) (270,000) (3,240,000) (3,304,800) (3,370,896) (3,438,314) (3,507,080) (3,577,222) (3,648,766) (3,721,742) (3,796,176) (3,872,100)
13.6% 11.2% 14.0% 13.6% 13.4% 13.3% 13.1% 13.1% 13.1% 13.1% 13.1% 13.1%
- - - - - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
(31,938) (31,938) (383,250) (390,915) (398,733) (406,708) (414,842) (423,139) (431,602) (440,234) (449,038) (458,019)
1.6% 1.3% 1.7% 1.6% 1.6% 1.6% 1.5% 1.6% 1.6% 1.6% 1.5% 1.6%
(3,675) (3,675) (44,100) (44,982) (45,882) (46,799) (47,735) (48,690) (49,664) (50,657) (51,670) (52,704)
0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2%
(15,750) (15,750) (189,000) (192,780) (196,636) (200,568) (204,580) (208,671) (212,845) (217,102) (221,444) (225,872)
0.8% 0.7% 0.8% 0.8% 0.8% 0.8% 0.8% 0.8% 0.8% 0.8% 0.8% 0.8%
(576,363) (576,363) (6,916,350) (7,054,677) (7,195,771) (7,339,686) (7,486,480) (7,636,209) (7,788,933) (7,944,712) (8,103,606) (8,265,678)
29.1% 23.8% 30.0% 29.1% 28.7% 28.4% 28.0% 28.0% 28.0% 28.0% 28.0% 28.0%
(9,893) (12,094) (115,338) (121,314) (125,319) (129,437) (133,843) (136,359) (139,104) (141,903) (144,946) (147,672)
(98,933) (120,942) (1,153,381) (1,213,136) (1,253,195) (1,294,371) (1,338,425) (1,363,595) (1,391,037) (1,419,032) (1,449,465) (1,476,723)
(989) (1,209) (11,534) (12,131) (12,532) (12,944) (13,384) (13,636) (13,910) (14,190) (14,495) (14,767)
- - - - - - - - - - - -
- - - - - - - - - - - -
(19,787) (24,188) (230,676) (242,627) (250,639) (258,874) (267,685) (272,719) (278,207) (283,806) (289,893) (295,345)
(237) (290) (2,768) (2,912) (3,008) (3,106) (3,212) (3,273) (3,338) (3,406) (3,479) (3,544)
(989) (1,209) (11,534) (12,131) (12,532) (12,944) (13,384) (13,636) (13,910) (14,190) (14,495) (14,767)
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
(989) (1,209) (11,534) (12,131) (12,532) (12,944) (13,384) (13,636) (13,910) (14,190) (14,495) (14,767)
- - - - - - - - - - - -
- - - - - - - - - - - -
(198) (242) (2,307) (2,426) (2,506) (2,589) (2,677) (2,727) (2,782) (2,838) (2,899) (2,953)
- - - - - - - - - - - -
- - - - - - - - - - - -
701419272.xlsx
F&B
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
(791) (968) (9,227) (9,705) (10,026) (10,355) (10,707) (10,909) (11,128) (11,352) (11,596) (11,814)
(791) (968) (9,227) (9,705) (10,026) (10,355) (10,707) (10,909) (11,128) (11,352) (11,596) (11,814)
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
(989) (1,209) (11,534) (12,131) (12,532) (12,944) (13,384) (13,636) (13,910) (14,190) (14,495) (14,767)
(134,588) (164,530) (1,569,060) (1,650,350) (1,704,846) (1,760,863) (1,820,794) (1,855,034) (1,892,367) (1,930,451) (1,971,852) (2,008,934)
6.8% 6.8% 6.8% 6.8% 6.8% 6.8% 6.8% 6.8% 6.8% 6.8% 6.8% 6.8%
562,395 815,735 6,359,759 6,908,559 7,228,550 7,558,578 7,918,848 8,058,819 8,221,959 8,388,402 8,579,788 8,731,461
28.4% 33.7% 27.6% 28.5% 28.8% 29.2% 29.6% 29.5% 29.6% 29.6% 29.6% 29.6%
701419272.xlsx
SPA
SPA department: Financial Projections
Fiscal Year Ends 31/12 Jan-01 Feb-01 Mar-01 Apr-01 May-01 Jun-01 Jul-01 Aug-01 Sep-01 Oct-01 Nov-01
In THB
Total number of guests 2,530 2,088 1,786 2,016 1,488 1,440 2,083 2,083 1,440 2,083 2,016
Capture Ratio Spa (%) 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Average rev per guest Spa (THB) 200 200 200 200 200 200 200 200 200 200 200
Capture Ratio Yoga (%) 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Average rev per guest Yoga (THB) - - - - - - - - - - -
Capture Ratio Other Revenue (%) 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Average rev per guest Other (THB) - - - - - - - - - - -
Allowance & Discount (% of Spa, Yoga and Oth 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
SPA Department Total Staff Headcount - - - - - - - - - - -
Revenues
Spa Revenue - - - - - - - - - - -
Yoga - - - - - - - - - - -
Other Revenue - - - - - - - - - - -
Allowance & Discount - - - - - - - - - - -
Total Revenues - - - - - - - - - - -
% Growth 0.0% 0.0% #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
% of Hotel Total Revenues 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Cost of Sales
Cost of Sales - Spa (% of Spa Rev) - - - - - - - - - - -
% of Revenues #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Cost of Sales - Yoga (% of Yoga Rev) - - - - - - - - - - -
% of Revenues 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Cost of Sales - Other Rev (% of Other Rev) - - - - - - - - - - -
% of Revenues 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Total Cost of Sales - - - - - - - - - - -
Gross Profit - - - - - - - - - - -
% Margin #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Salaries and Employee Related benefits -

Salaries & Wages - Spa - - - - - - - - - - -
701419272.xlsx
SPA
Bonus - - - - - - - - - - -
Employee Meals - - - - - - - - - - -
Employee Benefits - - - - - - - - - - -
% of Revenues #DIV/0!
Social Security Fund - - - - - - - - - - -
% of Revenues #DIV/0!
Total Salaries and Employee Related benefit - - - - - - - - - - -
Other Expenses
Guest Supplies (% of Spa Rev) - - - - - - - - - - -
Cleaning Supplies (% of Spa Rev) - - - - - - - - - - -
Printing and Stationery (% of Spa Rev) - - - - - - - - - - -
.. (THB) - - - - - - - - - - -
Telephone & Fax Expenses (THB) - - - - - - - - - - -
… (THB) - - - - - - - - - - -
.. (THB) - - - - - - - - - - -
Decoration (% of Spa Rev) - - - - - - - - - - -
.. (% of Spa Rev) - - - - - - - - - - -
… (THB) - - - - - - - - - - -
……….. (% of Spa Rev) - - - - - - - - - - -
Laundry Linen (from House Laundry) - - - - - - - - - - -
Cost of Uniform/emp/yr start yr2 (THB) - - - - - - - - - - -
Uniform Laundry (from House Laundry) - - - - - - - - - - -
Excise Tax (THB) - - - - - - - - - - -
Miscellaneous (% of Spa Rev) - - - - - - - - - - -
Total Other Expenses - - - - - - - - - - -
Departmental Profit - - - - - - - - - - -
% Margin #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
701419272.xlsx
SPA
Dec-01 2024E 2025E 2026E 2027E 2028E 2029E 2030E 2031E 2032E 2033E
2,465 23,517 24,259 24,569 24,878 25,221 25,191 25,194 25,197 25,233 25,203
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
200 200 204 208 212 216 221 225 230 234 239
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
#DIV/0! 0.0% #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - -
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
- - - - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
701419272.xlsx
SPA
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
701419272.xlsx
House Laundry
Laundry department: Financial Projections
In THB
Laundry statistics
Total number of guests 2,530 2,088 1,786 2,016 1,488 1,440 2,083 2,083 1,440
Hotel Total Staff Headcount 48.0 48.0 48.0 48.0 48.0 48.0 48.0 48.0 48.0
Revenue from laundry per Spa treatment (THB) - - - - - - - - -
Laundry Department Total Staff Headcount 2 2 2 2 2 2 2 2 2

Salaries & Wages - Laundry (35,000) (35,000) (35,000) (35,000) (35,000) (35,000) (35,000) (35,000) (35,000)
% of Total Hotel Revenues 0.4% 0.5% 0.6% 0.6% 0.8% 0.9% 0.6% 0.6% 0.9%
Bonus - - - - - - - - -
Employee Meals (3,042) (3,042) (3,042) (3,042) (3,042) (3,042) (3,042) (3,042) (3,042)
Employee Benefits (350) (350) (350) (350) (350) (350) (350) (350) (350)
Social Security Fund (1,500) (1,500) (1,500) (1,500) (1,500) (1,500) (1,500) (1,500) (1,500)
Total Salaries and Employee Related benefits (39,892) (39,892) (39,892) (39,892) (39,892) (39,892) (39,892) (39,892) (39,892)
Other Expenses
Guest Supplies - - - - - - - - -
Cleaning Supplies - - - - - - - - -
Printing & Stationery (100) (100) (100) (100) (100) (100) (100) (100) (100)
… - - - - - - - - -
Telephone & Fax - - - - - - - - -
Internet Expenses - - - - - - - - -
Transportation - - - - - - - - -
… - - - - - - - - -
…. - - - - - - - - -
Uniform/emp/yr start yr2 (THB) - - - - - - - - -
Outsourcing (44,690) (36,888) (31,546) (35,616) (26,288) (25,440) (36,803) (36,803) (25,440)
Laudry Chemicals (% of Total Hotel Rev) (4,326) (3,578) (2,863) (3,013) (2,169) (1,992) (2,882) (2,882) (1,992)
Laundry Fuel (% of Total Hotel Rev) (3,461) (2,863) (2,291) (2,411) (1,735) (1,594) (2,305) (2,305) (1,594)
Miscellaneous (500) (500) (500) (500) (500) (500) (500) (500) (500)
701419272.xlsx
House Laundry
Total Other Expenses (53,077) (43,929) (37,300) (41,640) (30,792) (29,626) (42,591) (42,591) (29,626)
Total Expenses (92,968) (83,821) (77,191) (81,532) (70,684) (69,517) (82,482) (82,482) (69,517)
Allocation between departments (Based on the number of items):
Number of items:
Rooms - - - - - - - - -
F&B - - - - - - - - -
SPA - - - - - - - - -
Employees - - - - - - - - -
Guests - - - - - - - - -
Total - - - - - - - - -
Cost Allocation:
Rooms - - - - - - - - -
F&B - - - - - - - - -
SPA - - - - - - - - -
Employees - - - - - - - - -
Guests - - - - - - - - -
Total - - - - - - - - -
Allocation between employees (Based on Headcount):
Headcount:
Rooms 24 24 24 24 24 24 24 24 24
F&B 21 21 21 21 21 21 21 21 21
SPA - - - - - - - - -
Boutique - - - - - - - - -
OODs - - - - - - - - -
Staff Canteen - - - - - - - - -
Staff House - - - - - - - - -
POMEC - - - - - - - - -
G&A 1 1 1 1 1 1 1 1 1
HR - - - - - - - - -
S&M - - - - - - - - -
Total 46 46 46 46 46 46 46 46 46
701419272.xlsx
House Laundry
Cost Allocation:
Rooms - - - - - - - - -
F&B - - - - - - - - -
SPA - - - - - - - - -
Boutique - - - - - - - - -
OODs - - - - - - - - -
Staff Canteen - - - - - - - - -
Staff House - - - - - - - - -
POMEC - - - - - - - - -
G&A - - - - - - - - -
HR - - - - - - - - -
S&M - - - - - - - - -
Total - - - - - - - - -
701419272.xlsx
House Laundry
Oct-01 Nov-01 Dec-01 2024E 2025E 2026E 2027E 2028E 2029E 2030E 2031E 2032E 2033E
2,083 2,016 2,465 23,517 24,259 24,569 24,878 25,221 25,191 25,194 25,197 25,233 25,203
48.0 48.0 48.0 48.0 48.0 48.0 48.0 48.0 48.0 48.0 48.0 48.0 48.0
- - - - - - - - - - - - -
2 2 2 2 2 2 2 2 2 2 2 2 2
(35,000) (35,000) (35,000) (420,000) (428,400) (436,968) (445,707) (454,622) (463,714) (472,988) (482,448) (492,097) (501,939)
0.6% 0.5% 0.4% 0.6% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.4% 0.4% 0.4%
- - - - - - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
(3,042) (3,042) (3,042) (36,500) (37,230) (37,975) (38,734) (39,509) (40,299) (41,105) (41,927) (42,766) (43,621)
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
(350) (350) (350) (4,200) (4,284) (4,370) (4,457) (4,546) (4,637) (4,730) (4,824) (4,921) (5,019)
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
(1,500) (1,500) (1,500) (18,000) (18,360) (18,727) (19,102) (19,484) (19,873) (20,271) (20,676) (21,090) (21,512)
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
(39,892) (39,892) (39,892) (478,700) (488,274) (498,039) (508,000) (518,160) (528,523) (539,094) (549,876) (560,873) (572,091)
0.6% 0.6% 0.4% 0.6% 0.6% 0.6% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5%
- - - - - - - - - - - - -
- - - - - - - - - - - - -
(100) (100) (100) (1,200) (1,224) (1,248) (1,273) (1,299) (1,325) (1,351) (1,378) (1,406) (1,434)
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - (1,000) (1,020) (1,040) (1,061) (1,082) (1,104) (1,126) (1,149) (1,172)
(36,803) (35,616) (43,540) (415,472) (432,091) (449,375) (467,350) (486,044) (505,486) (525,705) (546,733) (568,603) (591,347)
(3,114) (3,600) (4,707) (37,119) (43,310) (46,043) (49,279) (52,816) (55,651) (58,730) (61,984) (65,521) (69,058)
(2,491) (2,880) (3,766) (29,695) (34,648) (36,834) (39,423) (42,253) (44,521) (46,984) (49,587) (52,417) (55,246)
(500) (500) (500) (6,000) (6,120) (6,242) (6,367) (6,495) (6,624) (6,757) (6,892) (7,030) (7,171)
701419272.xlsx
House Laundry
(43,008) (42,696) (52,612) (489,486) (518,393) (540,762) (564,733) (589,968) (614,690) (640,632) (667,701) (696,125) (725,427)
0.7% 0.6% 0.6% 0.7% 0.6% 0.6% 0.6% 0.6% 0.6% 0.6% 0.6% 0.6% 0.6%
(82,900) (82,587) (92,504) (968,186) (1,006,667) (1,038,802) (1,072,734) (1,108,128) (1,143,213) (1,179,726) (1,217,577) (1,256,999) (1,297,518)
1.3% 1.1% 1.0% 1.3% 1.2% 1.2% 1.2% 1.1% 1.1% 1.1% 1.1% 1.1% 1.1%
(968,186)
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
24 24 24 24 24 24 24 24 24 24 24 24 24
21 21 21 21 21 21 21 21 21 21 21 21 21
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
1 1 1 1 1 1 1 1 1 1 1 1 1
- - - - - - - - - - - - -
- - - - - - - - - - - - -
46 46 46 46 46 46 46 46 46 46 46 46 46
701419272.xlsx
House Laundry
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
701419272.xlsx
Guest Laundry
Guest Laundry department: Financial Projections
In THB
Laundry statistics
Laundry Capture Ratio (%) 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0%
Average Laundry Rev per guest (THB) 120.0 120.0 120.0 120.0 120.0 120.0 120.0 120.0 120.0 120.0 120.0
Nb of Laundry Sales 126 104 89 101 74 72 104 104 72 104 101
Laundry Department Total Staff Headcount 2 2 2 2 2 2 2 2 2 2 2
Revenue
Sales to guests 12,597 10,398 8,892 10,040 7,410 7,171 10,374 10,374 7,171 10,374 10,040
Allowance & Discount - - - - - - - - - - -
Total Revenue 12,597 10,398 8,892 10,040 7,410 7,171 10,374 10,374 7,171 10,374 10,040
% Growth 0.0% -17.5% -14.5% 12.9% -26.2% -3.2% 44.7% 0.0% -30.9% 44.7% -3.2%
Cost Of Guest Laundry (House Laundry allocation) (4,157) (3,431) (2,934) (3,313) (2,445) (2,366) (3,424) (3,424) (2,366) (3,424) (3,313)
% of Revenues 33.0% 33.0% 33.0% 33.0% 33.0% 33.0% 33.0% 33.0% 33.0% 33.0% 33.0%
Departmental Profit 8,440 6,967 5,958 6,727 4,965 4,805 6,951 6,951 4,805 6,951 6,727
% Margin 67.0% 67.0% 67.0% 67.0% 67.0% 67.0% 67.0% 67.0% 67.0% 67.0% 67.0%
701419272.xlsx
Guest Laundry
Dec-01 2024E 2025E 2026E 2027E 2028E 2029E 2030E 2031E 2032E 2033E
5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0%
120.0 120.0 122.4 124.8 127.3 129.9 132.5 135.1 137.8 140.6 143.4
2,465 23,517 24,259 24,569 24,878 25,221 25,191 25,194 25,197 25,233 25,203
123 1,176 1,213 1,228 1,244 1,261 1,260 1,260 1,260 1,262 1,260
2 2 2 2 2 2 2 2 2 2 2
12,273 117,116 123,225 127,294 131,477 135,952 138,508 141,296 144,140 147,231 150,000
- - - - - - - - - - -
12,273 117,116 123,225 127,294 131,477 135,952 138,508 141,296 144,140 147,231 150,000
22.2% 0.0% 5.2% 3.3% 3.3% 3.4% 1.9% 2.0% 2.0% 2.1% 1.9%
0.1% 0.2% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1%
(4,050) (38,648) (40,664) (42,007) (43,387) (44,864) (45,708) (46,628) (47,566) (48,586) (49,500)
33.0% 33.0% 33.0% 33.0% 33.0% 33.0% 33.0% 33.0% 33.0% 33.0% 33.0%
8,223 78,468 82,561 85,287 88,090 91,088 92,801 94,668 96,573 98,645 100,500
67.0% 67.0% 67.0% 67.0% 67.0% 67.0% 67.0% 67.0% 67.0% 67.0% 67.0%
701419272.xlsx
OODs
Other Operated Departments: Financial Projections
In THB
Transportation Revenue
Total Rooms Sold 843 696 595 672 496 480 694 694 480 694 672
Average length of stay (nights) 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0
Number of arrivals / yr 281 232 198 224 165 160 231 231 160 231 224
Capture ratio limmo (%) 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2%
Sales price per ONE-WAY trip (THB) 200 200 200 200 200 200 200 200 200 200 200
Minibar Revenue
Average revenue per guest (THB) 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
Capture ratio (%) 8.0% 8.0% 8.0% 8.0% 8.0% 8.0% 8.0% 8.0% 8.0% 8.0% 8.0%
Other Revenues (% of Room Rev) 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20%
Revenues
Transportation Revenue 225 186 159 179 132 128 185 185 128 185 179
Minibar Revenue 20,237 16,704 14,285 16,128 11,904 11,520 16,666 16,666 11,520 16,666 16,128
Tennis - - - - - - - - - - -
Watersports - - - - - - - - - - -
Guest Activities Revenue - - - - - - - - - - -
Communication Revenue - - - - - - - - - - -
Gain on money exchange - - - - - - - - - - -
Other Revenues (% of Room Rev) 12,291 10,146 7,894 8,036 5,711 5,099 7,377 7,377 5,099 8,304 10,378
Total Revenues 27,185 22,439 18,540 20,205 14,730 13,900 20,109 20,109 13,900 20,878 22,148
% Growth 0.0% -17.5% -17.4% 9.0% -27.1% -5.6% 44.7% 0.0% -30.9% 50.2% 6.1%
Cost of Sales
Cost of Sales - Transport (0) (0) (0) (0) (0) (0) (0) (0) (0) (0) (0)
Cost of Sales - Minibar (7,892) (6,515) (5,571) (6,290) (4,643) (4,493) (6,500) (6,500) (4,493) (6,500) (6,290)
Cost of Sales - Tennis - - - - - - - - - - -
Cost of Sales - Watersports - - - - - - - - - - -
Cost of Sales - Guest Activities - - - - - - - - - - -
Cost of Sales - Communication - - - - - - - - - - -
Cost of Sales - Others - - - - - - - - - - -
Total Cost of Sales (7,892) (6,515) (5,571) (6,290) (4,643) (4,493) (6,500) (6,500) (4,493) (6,500) (6,290)
701419272.xlsx
OODs
% of Revenues 29.0% 29.0% 30.0% 31.1% 31.5% 32.3% 32.3% 32.3% 32.3% 31.1% 28.4%

Salaries & Wages - Boutique - - - - - - - - - - -
% of Revenues 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Bonus - - - - - - - - - - -
% of Revenues 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Employee Meals - - - - - - - - - - -
% of Revenues 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
% of Revenues 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
% of Revenues 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Total Salaries and Employee Related benefits - - - - - - - - - - -
% of Revenues 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Departmental Profit 19,292 15,925 12,969 13,915 10,087 9,408 13,610 13,610 9,408 14,378 15,858
% Margin 71.0% 71.0% 70.0% 68.9% 68.5% 67.7% 67.7% 67.7% 67.7% 68.9% 71.6%
701419272.xlsx
OODs
Dec-01 2024E 2025E 2026E 2027E 2028E 2029E 2030E 2031E 2032E 2033E
2,465 23,517 24,259 24,569 24,878 25,221 25,191 25,194 25,197 25,233 25,203
822 7,839 8,086 8,190 8,293 8,407 8,397 8,398 8,399 8,411 8,401
3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0
274 2,613 2,695 2,730 2,764 2,802 2,799 2,799 2,800 2,804 2,800
0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2%
200 200 204 208 212 216 221 225 230 234 239
100.0 100.0 102.0 104.0 106.1 108.2 110.4 112.6 114.9 117.2 119.5
8.0% 8.0% 8.0% 8.0% 8.0% 8.0% 8.0% 8.0% 8.0% 8.0% 8.0%
0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20%
219 2,090 2,199 2,272 2,347 2,427 2,472 2,522 2,573 2,628 2,677
19,716 188,138 197,952 204,489 211,208 218,397 222,504 226,981 231,549 236,515 240,963
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
13,910 101,622 120,538 126,084 133,134 140,767 146,183 152,045 158,143 164,743 171,081
28,092 242,236 266,173 276,262 287,752 300,120 308,062 316,686 325,580 335,226 344,219
26.8% 0.0% 9.9% 3.8% 4.2% 4.3% 2.6% 2.8% 2.8% 3.0% 2.7%
0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3%
(0) (1) (1) (1) (1) (1) (1) (1) (1) (1) (1)
(7,689) (73,374) (77,201) (79,751) (82,371) (85,175) (86,776) (88,523) (90,304) (92,241) (93,976)
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
(7,689) (73,375) (77,203) (79,752) (82,372) (85,176) (86,778) (88,524) (90,306) (92,242) (93,977)
701419272.xlsx
OODs
27.4% 30.3% 29.0% 28.9% 28.6% 28.4% 28.2% 28.0% 27.7% 27.5% 27.3%
- - - - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - -
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
20,402 168,861 188,970 196,510 205,380 214,944 221,284 228,162 235,275 242,983 250,242
72.6% 69.7% 71.0% 71.1% 71.4% 71.6% 71.8% 72.0% 72.3% 72.5% 72.7%
701419272.xlsx
Staff Facilities
Staff Facilities department: Financial Projections
In THB
Effective nb of days in a year 366 366 365 365 365 365 365 365 365 365
Effective nb of months in a year 12 12 12 12 12 12 12 12 12 12
Staff House statistics
Cost of electricity per person/day (THB) - - - - - - - - - -

Other cost per person/day (THB) - - - - - - - - - -
Charge to staff members (THB) - - - - - - - - - -
Hotel Total Staff Headcount 48.0 48.0 48.0 48.0 48.0 48.0 48.0 48.0 48.0 48.0
% of staff that uses Staff house (%) 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Nb of employees that uses Staff house - - - - - - - - - -
Staff House Total employee Headcount - - - - - - - - - -
Housing cost per employee/day - - - - - - - - - -
Staff Canteen statistics
Cost of FOOD per person/day (THB) 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0
Cost of DRINKS per person/day (THB) - - - - - - - - - -
Other cost per person/day (THB) - - - - - - - - - -
Number of Staff provided for 48 48 48 48 48 48 48 48 48 48

Canteen cost per employee/day 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00
Staff Canteen Total employee Headcount - - - - - - - - - -
STAFF HOUSE
Direct Cost
Utility - Electricity - - - - - - - - - -
Utility - Other Costs - - - - - - - - - -
Total Direct Cost - - - - - - - - - -
% of Hotel Total Revenues - - - - - - - - - -
Total Salaries and Employee Related benefits - - - - - - - - - -
% of Hotel Total Revenues -
Other Expenses
Cleaning Supplies (% of Total Revenues) - - - - - - - - - -
Printing and Stationery (% of Total Revenues) - - - - - - - - - -
Postage & Telegram (% of Total Revenues) - - - - - - - - - -
… (% of Total Revenues) - - - - - - - - - -
701419272.xlsx
Staff Facilities
Internet Cost Staff House (% of Total Revenues) - - - - - - - - - -

Decoration (% of Total Revenues) - - - - - - - - - -
Staff Bus (% of Total Revenues) - - - - - - - - - -
Staff boat fuel (% of Total Revenues) - - - - - - - - - -
…. (% of Total Revenues) - - - - - - - - - -
Loss & Damage - Chinaware (% of Total Revenues) - - - - - - - - - -
Loss & Damage - Glassware (% of Total Revenues) - - - - - - - - - -
Uniform Laundry (from House Laundry) - - - - - - - - - -
Miscellaneous (% of Total Revenues) - - - - - - - - - -
Total Other Expenses - - - - - - - - - -
Total Staff House Expenses before allocations - - - - - - - - - -

Charged to Staff - - - - - - - - - -
Allocations to departments - - - - - - - - - -
Staff House Departmental Profit/(Loss) - - - - - - - - - -
STAFF Canteen
Direct Cost
Food (73,200) (73,200) (73,000) (73,000) (73,000) (73,000) (73,000) (73,000) (73,000) (73,000)
Beverage - - - - - - - - - -
Other Costs - - - - - - - - - -
Total Direct Cost (73,200) (73,200) (73,000) (73,000) (73,000) (73,000) (73,000) (73,000) (73,000) (73,000)
Other Expenses
Cleaning Supplies (% of Total Revenues) - - - - - - - - - -
Pinting and Stationery (% of Total Revenues) - - - - - - - - - -
Postage & Telegram (% of Total Revenues) - - - - - - - - - -
Telephone, Fax (% of Total Revenues) - - - - - - - - - -
Internet Cost (% of Total Revenues) - - - - - - - - - -
Decoration (% of Total Revenues) - - - - - - - - - -
Transportation Expenses (% of Total Revenues) - - - - - - - - - -
701419272.xlsx
Staff Facilities

Loss & Damage - Chinaware (% of Total Revenues) - - - - - - - - - -
Loss & Damage - Glassware (% of Total Revenues) - - - - - - - - - -
Staff Canteen Utensils (% of Total Revenues) - - - - - - - - - -
Staff Canteen Fuel (% of Total Revenues) - - - - - - - - - -
Miscellaneous (% of Total Revenues) - - - - - - - - - -
Total Canteen House Expenses before allocations (73,200) (73,200) (73,000) (73,000) (73,000) (73,000) (73,000) (73,000) (73,000) (73,000)
Allocations to departments 73,200 73,200 73,000 73,000 73,000 73,000 73,000 73,000 73,000 73,000
Staff Canteen Departmental Profit/(Loss) - - - - - - - - - -
STAFF FACILITIES (Staff House + Staff Canteen)
Direct Cost (73,200) (73,200) (73,000) (73,000) (73,000) (73,000) (73,000) (73,000) (73,000) (73,000)
Salaries and Employee Related benefits - - - - - - - - - -
Total Staff Facilities Expenses before Allocations (73,200) (73,200) (73,000) (73,000) (73,000) (73,000) (73,000) (73,000) (73,000) (73,000)
Charged to Staff - - - - - - - - - -
Allocations to departments 73,200 73,200 73,000 73,000 73,000 73,000 73,000 73,000 73,000 73,000
Departmental Profit/(Loss) - - - - - - - - - -
701419272.xlsx
Staff Facilities
365 365 365 365 365 365 366 365 365 365 366 365
12 12 12 12 12 12 12 12 12 12 12 12
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
48.0 48.0 48.0 48.0 48.0 48.0 48.0 48.0 48.0 48.0 48.0 48.0
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
50.0 50.0 50.0 51.0 52.0 53.1 54.1 55.2 56.3 57.4 58.6 59.8
- - - - - - - - - - - -
- - - - - - - - - - - -
48 48 48 48 48 48 48 48 48 48 48 48
50.00 50.00 50.02 51.00 52.02 53.06 54.12 55.20 56.31 57.43 58.58 59.75
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
701419272.xlsx
Staff Facilities
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
(73,000) (73,000) (876,400) (893,520) (911,390) (929,618) (950,808) (967,175) (986,518) (1,006,249) (1,029,186) (1,046,901)
- - - - - - - - - - - -
- - - - - - - - - - - -
(73,000) (73,000) (876,400) (893,520) (911,390) (929,618) (950,808) (967,175) (986,518) (1,006,249) (1,029,186) (1,046,901)
1.01% 0.78% 1.18% 1.05% 1.03% 1.00% 0.97% 0.96% 0.95% 0.93% 0.92% 0.91%
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
701419272.xlsx
Staff Facilities
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
(73,000) (73,000) (876,400) (893,520) (911,390) (929,618) (950,808) (967,175) (986,518) (1,006,249) (1,029,186) (1,046,901)
1.01% 0.78% 1.18% 1.05% 1.03% 1.00% 0.97% 0.96% 0.95% 0.93% 0.92% 0.91%
73,000 73,000 876,400 893,520 911,390 929,618 950,808 967,175 986,518 1,006,249 1,029,186 1,046,901
- - - - - - - - - - - -
(73,000) (73,000) (876,400) (893,520) (911,390) (929,618) (950,808) (967,175) (986,518) (1,006,249) (1,029,186) (1,046,901)
1.01% 0.78% 1.18% 1.05% 1.03% 1.00% 0.97% 0.96% 0.95% 0.93% 0.92% 0.91%
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
(73,000) (73,000) (876,400) (893,520) (911,390) (929,618) (950,808) (967,175) (986,518) (1,006,249) (1,029,186) (1,046,901)
1.01% 0.78% 1.18% 1.05% 1.03% 1.00% 0.97% 0.96% 0.95% 0.93% 0.92% 0.91%
- - - - - - - - - - - -
73,000 73,000 876,400 893,520 911,390 929,618 950,808 967,175 986,518 1,006,249 1,029,186 1,046,901
- - - - - - - - - - - -
701419272.xlsx
POMEC
Property Operation Maintenance & Energy: Financial Projections
In THB
Total Rooms Occupied 843 696 595 672 496 480 694 694 480 694
POMEC Total Staff Headcount - - - - - - - - - -

Salaries & Wages - POMEC - - - - - - - - - -
Bonus - - - - - - - - - -
Employee Meals - - - - - - - - - -
Employee Benefits - - - - - - - - - -
Social Security Fund - - - - - - - - - -
Other Expenses (% of Hotel Total Revenues exc. Uniforms)

Cleaning Supplies (240) (199) (159) (167) (120) (111) (160) (160) (111) (173)
Pinting and Stationery (1,121) (927) (742) (781) (562) (516) (747) (747) (516) (807)
Postage & Telegram (120) (99) (79) (84) (60) (55) (80) (80) (55) (86)
Telephone , Fax - - - - - - - - - -
Internet Cost - - - - - - - - - -
Linceses & Taxes - - - - - - - - - -
Gardener Expenses - - - - - - - - - -
Transportation &Travelling Exp (1,201) (993) (795) (837) (602) (553) (800) (800) (553) (864)
Housing & Relocation - - - - - - - - - -
Decoration - - - - - - - - - -
Entertainment - - - - - - - - - -
Subsription Fee (termite pest control 42K!) (10,383) (8,588) (6,872) (7,232) (5,205) (4,781) (6,916) (6,916) (4,781) (7,473)
Electrical Bulbs (4,326) (3,578) (2,863) (3,013) (2,169) (1,992) (2,882) (2,882) (1,992) (3,114)
Engineering Supplies (4,326) (3,578) (2,863) (3,013) (2,169) (1,992) (2,882) (2,882) (1,992) (3,114)
PABX & Telephone System (4,004) (3,311) (2,650) (2,789) (2,007) (1,843) (2,667) (2,667) (1,843) (2,882)
Audio & Visual Equipment - - - - - - - - - -
General Electrical & Mechinica (4,326) (3,578) (2,863) (3,013) (2,169) (1,992) (2,882) (2,882) (1,992) (3,114)
Air Condition & Refrigerator (8,652) (7,157) (5,727) (6,027) (4,338) (3,984) (5,764) (5,764) (3,984) (6,228)
701419272.xlsx
POMEC
Building - - - - - - - - - -
Landscape - - - - - - - - - -
Painting & Decoration (4,326) (3,578) (2,863) (3,013) (2,169) (1,992) (2,882) (2,882) (1,992) (3,114)
Curtain & Draperies - - - - - - - - - -
Wooden floors - - - - - - - - - -
Computer Repair & Maint. (1,601) (1,325) (1,060) (1,115) (803) (737) (1,067) (1,067) (737) (1,153)
Office Equipment - - - - - - - - - -
Restaurant Equipment (865) (716) (573) (603) (434) (398) (576) (576) (398) (623)
Kitchen Equipment (865) (716) (573) (603) (434) (398) (576) (576) (398) (623)
Laundry Equipment - - - - - - - - - -
Furniture Repair & Maint. - - - - - - - - - -
Swimming Pool Repair & Maint. (8,652) (7,157) (5,727) (6,027) (4,338) (3,984) (5,764) (5,764) (3,984) (6,228)
Sanitary Ware Repair & Maint. - - - - - - - - - -
Woodwork Repair & Maint. (25,957) (21,470) (17,181) (18,080) (13,014) (11,952) (17,291) (17,291) (11,952) (18,683)
Vehicle Repair & Maint. - - - - - - - - - -
Fire Safety & Security Equip. (12,979) (10,735) (8,590) (9,040) (6,507) (5,976) (8,646) (8,646) (5,976) (9,342)
Other Repair and Maintenace (8,652) (7,157) (5,727) (6,027) (4,338) (3,984) (5,764) (5,764) (3,984) (6,228)
Waste Removal (3,603) (2,980) (2,385) (2,510) (1,806) (1,659) (2,400) (2,400) (1,659) (2,593)
Water Filter Chemicles (4,326) (3,578) (2,863) (3,013) (2,169) (1,992) (2,882) (2,882) (1,992) (3,114)
Sign Maintenance (801) (662) (530) (558) (401) (369) (533) (533) (369) (576)
Spa & Suana Repairing - - - - - - - - - -
Elevators - - - - - - - - - -
Miscellaneous Expenses (3,178) (2,629) (2,104) (2,214) (1,593) (1,464) (2,117) (2,117) (1,464) (2,288)
Total Other Expenses (114,507) (94,712) (75,790) (79,759) (57,408) (52,726) (76,277) (76,277) (52,726) (82,418)
Energy Cost
Electricity - Basic requirements (100,000) (100,000) (100,000) (100,000) (100,000) (100,000) (100,000) (100,000) (100,000) (100,000)
Electricity - Staff House - - - - - - - - - -
Electricity - per room per night usage (84,320) (69,600) (59,520) (67,200) (49,600) (48,000) (69,440) (69,440) (48,000) (69,440)
Water Supply - Resort - per room per night usage (THB/night) (12,648) (10,440) (8,928) (10,080) (7,440) (7,200) (10,416) (10,416) (7,200) (10,416)
Water Supply - Staff House - - - - - - - - - -
Fuel and Gasoline (THB/night) - - - - - - - - - -
Total Energy Cost (196,968) (180,040) (168,448) (177,280) (157,040) (155,200) (179,856) (179,856) (155,200) (179,856)
Total POMEC Costs (311,475) (274,752) (244,238) (257,039) (214,448) (207,926) (256,133) (256,133) (207,926) (262,274)
701419272.xlsx
POMEC
672 822 7,839 8,086 8,190 8,293 8,407 8,397 8,398 8,399 8,411 8,401
- - - - - - - - - - - -
- - - - - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
(200) (261) (2,061) (2,358) (2,457) (2,578) (2,709) (2,799) (2,896) (2,996) (3,105) (3,208)
(933) (1,220) (9,618) (11,002) (11,467) (12,033) (12,643) (13,061) (13,513) (13,982) (14,490) (14,973)
(100) (131) (1,031) (1,179) (1,229) (1,289) (1,355) (1,399) (1,448) (1,498) (1,553) (1,604)
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
(999) (1,307) (10,305) (11,788) (12,286) (12,892) (13,546) (13,994) (14,478) (14,981) (15,525) (16,042)
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
- - - - - - - - - - - -
(8,640) (11,297) (89,086) (101,906) (106,211) (111,449) (117,106) (120,972) (125,162) (129,506) (134,212) (138,683)
(3,600) (4,707) (37,119) (42,461) (44,255) (46,437) (48,794) (50,405) (52,151) (53,961) (55,922) (57,785)
(3,600) (4,707) (37,119) (42,461) (44,255) (46,437) (48,794) (50,405) (52,151) (53,961) (55,922) (57,785)
(3,331) (4,356) (34,350) (39,294) (40,954) (42,973) (45,155) (46,645) (48,261) (49,936) (51,751) (53,475)
- - - - - - - - - - - -
(3,600) (4,707) (37,119) (42,461) (44,255) (46,437) (48,794) (50,405) (52,151) (53,961) (55,922) (57,785)
(7,200) (9,414) (74,238) (84,921) (88,510) (92,874) (97,588) (100,810) (104,301) (107,922) (111,843) (115,569)
701419272.xlsx
POMEC
- - - - - - - - - - - -
- - - - - - - - - - - -
(3,600) (4,707) (37,119) (42,461) (44,255) (46,437) (48,794) (50,405) (52,151) (53,961) (55,922) (57,785)
- - - - - - - - - - - -
- - - - - - - - - - - -
(1,333) (1,742) (13,740) (15,717) (16,382) (17,189) (18,062) (18,658) (19,304) (19,974) (20,700) (21,390)
- - - - - - - - - - - -
(720) (941) (7,424) (8,492) (8,851) (9,287) (9,759) (10,081) (10,430) (10,792) (11,184) (11,557)
(720) (941) (7,424) (8,492) (8,851) (9,287) (9,759) (10,081) (10,430) (10,792) (11,184) (11,557)
- - - - - - - - - - - -
- - - - - - - - - - - -
(7,200) (9,414) (74,238) (84,921) (88,510) (92,874) (97,588) (100,810) (104,301) (107,922) (111,843) (115,569)
- - - - - - - - - - - -
(21,599) (28,243) (222,714) (254,764) (265,529) (278,621) (292,765) (302,430) (312,904) (323,766) (335,530) (346,708)
- - - - - - - - - - - -
(10,799) (14,122) (111,357) (127,382) (132,764) (139,311) (146,382) (151,215) (156,452) (161,883) (167,765) (173,354)
(7,200) (9,414) (74,238) (84,921) (88,510) (92,874) (97,588) (100,810) (104,301) (107,922) (111,843) (115,569)
(2,998) (3,921) (30,915) (35,364) (36,859) (38,676) (40,639) (41,981) (43,435) (44,943) (46,576) (48,127)
(3,600) (4,707) (37,119) (42,461) (44,255) (46,437) (48,794) (50,405) (52,151) (53,961) (55,922) (57,785)
(666) (871) (6,870) (7,859) (8,191) (8,595) (9,031) (9,329) (9,652) (9,987) (10,350) (10,695)
- - - - - - - - - - - -
- - - - - - - - - - - -
(2,645) (3,458) (27,270) (31,195) (32,513) (34,116) (35,848) (37,031) (38,314) (39,643) (41,084) (42,453)
(95,280) (124,592) (982,473) (1,123,858) (1,171,345) (1,229,102) (1,291,494) (1,334,131) (1,380,337) (1,428,250) (1,480,148) (1,529,459)
1.32% 1.32% 1.32% 1.32% 1.32% 1.32% 1.32% 1.32% 1.32% 1.32% 1.32% 1.32%
(100,000) (100,000) (1,200,000) (1,224,000) (1,248,480) (1,273,450) (1,298,919) (1,324,897) (1,351,395) (1,378,423) (1,405,991) (1,434,111)
- - - - - - - - - - - -
(67,200) (82,150) (783,910) (824,802) (852,038) (880,034) (909,986) (927,098) (945,756) (964,789) (985,480) (1,004,013)
(10,080) (12,323) (117,587) (123,720) (127,806) (132,005) (136,498) (139,065) (141,863) (144,718) (147,822) (150,602)
- - - - - - - - - - - -
- - - - - - - - - - - -
(177,280) (194,473) (2,101,497) (2,172,522) (2,228,324) (2,285,488) (2,345,402) (2,391,060) (2,439,014) (2,487,931) (2,539,294) (2,588,726)
2.46% 2.07% 2.83% 2.56% 2.52% 2.46% 2.40% 2.37% 2.34% 2.31% 2.27% 2.24%
(272,560) (319,064) (3,083,970) (3,296,380) (3,399,668) (3,514,590) (3,636,896) (3,725,191) (3,819,352) (3,916,181) (4,019,441) (4,118,185)
3.79% 3.39% 4.15% 3.88% 3.84% 3.78% 3.73% 3.70% 3.66% 3.63% 3.59% 3.56%
701419272.xlsx
G&A+HR
G&A: Financial Projections
In THB
G&A COST

Salaries & Wages - G&A (100,000) (100,000) (100,000) (100,000) (100,000) (100,000) (100,000) (100,000) (100,000) (100,000) (100,000)
Salaries & Wages - Accounting - - - - - - - - - - -
Bonus - - - - - - - - - - -
Employee Meals (1,521) (1,521) (1,521) (1,521) (1,521) (1,521) (1,521) (1,521) (1,521) (1,521) (1,521)
Employee Benefits (68,675) (68,675) (68,675) (68,675) (68,675) (68,675) (68,675) (68,675) (68,675) (68,675) (68,675)
Social Security Fund (750) (750) (750) (750) (750) (750) (750) (750) (750) (750) (750)
Total Salaries and Employee Related benefits (170,946) (170,946) (170,946) (170,946) (170,946) (170,946) (170,946) (170,946) (170,946) (170,946) (170,946)
Other Expenses
Commission Credit Card (259,572) (214,700) (171,806) (180,804) (130,136) (119,524) (172,911) (172,911) (119,524) (186,830) (215,988)
Cleaning Supplies (327) (270) (216) (228) (164) (151) (218) (218) (151) (235) (272)
Printing and Stationery (8,652) (7,157) (5,727) (6,027) (4,338) (3,984) (5,764) (5,764) (3,984) (6,228) (7,200)
Postage & Telegram (4,326) (3,578) (2,863) (3,013) (2,169) (1,992) (2,882) (2,882) (1,992) (3,114) (3,600)
Telephone , Fax (8,652) (7,157) (5,727) (6,027) (4,338) (3,984) (5,764) (5,764) (3,984) (6,228) (7,200)
Internet Cost - - - - - - - - - - -
Licenses & Taxes (13,079) (10,818) (8,657) (9,110) (6,557) (6,022) (8,712) (8,712) (6,022) (9,413) (10,883)
Decoration - - - - - - - - - - -
Transportation&Travelling Exp. - - - - - - - - - - -
Housing and Relocation - - - - - - - - - - -
Entertainment - - - - - - - - - - -
Contract Service - - - - - - - - - - -
Newspapers & Magazine (392) (325) (260) (273) (197) (181) (261) (261) (181) (282) (326)
Subsription Fee (Aurascent, Royal Streaming) - - - - - - - - - - -
Auditor Fee - - - - - - - - - - -
Professional Fee (8,652) (7,157) (5,727) (6,027) (4,338) (3,984) (5,764) (5,764) (3,984) (6,228) (7,200)
Recruitment Expenses (1,730) (1,431) (1,145) (1,205) (868) (797) (1,153) (1,153) (797) (1,246) (1,440)
Medical Expenses - - - - - - - - - - -
Training Expenses - - - - - - - - - - -
701419272.xlsx
G&A+HR
Security Force (24K/ MONTH) - - - - - - - - - - -

Staff Party (1,730) (1,431) (1,145) (1,205) (868) (797) (1,153) (1,153) (797) (1,246) (1,440)
Medical Insurance - - - - - - - - - - -
Miscellaneous - - - - - - - - - - -
Total Other Expenses (307,114) (254,023) (203,274) (213,919) (153,971) (141,415) (204,581) (204,581) (141,415) (221,050) (255,547)
Total G&A Cost (478,060) (424,969) (374,220) (384,865) (324,917) (312,361) (375,526) (375,526) (312,361) (391,996) (426,493)
HR COST

Salaries & Wages - HR - - - - - - - - - - -
Bonus - - - - - - - - - - -
Employee Meals - - - - - - - - - - -
Other Expenses
Commission Credit Card - - - - - - - - - - -
Cleaning Supplies - - - - - - - - - - -
Printing and Stationery (1,962) (1,623) (1,298) (1,366) (984) (903) (1,307) (1,307) (903) (1,412) (1,632)
Postage & Telegram (981) (811) (649) (683) (492) (452) (653) (653) (452) (706) (816)
Telephone , Fax (1,962) (1,623) (1,298) (1,366) (984) (903) (1,307) (1,307) (903) (1,412) (1,632)
Internet Cost - - - - - - - - - - -
Licenses & Taxes - - - - - - - - - - -
Decoration - - - - - - - - - - -
Transportation&Travelling Exp. - - - - - - - - - - -
Housing and Relocation (1,730) (1,431) (1,145) (1,205) (868) (797) (1,153) (1,153) (797) (1,246) (1,440)
Entertainment - - - - - - - - - - -
Staff Uniform (17,305) (14,313) (11,454) (12,054) (8,676) (7,968) (11,527) (11,527) (7,968) (12,455) (14,399)
Subscription Fee - - - - - - - - - - -
Auditor Fee - - - - - - - - - - -
701419272.xlsx
G&A+HR
Professional Fee - - - - - - - - - - -
Recruitment Expenses - - - - - - - - - - -
Medical Expenses (8,652) (7,157) (5,727) (6,027) (4,338) (3,984) (5,764) (5,764) (3,984) (6,228) (7,200)
Training Expenses (1,730) (1,431) (1,145) (1,205) (868) (797) (1,153) (1,153) (797) (1,246) (1,440)
Security Force - - - - - - - - - - -
Staff Party (1,730) (1,431) (1,145) (1,205) (868) (797) (1,153) (1,153) (797) (1,246) (1,440)
Medical Insurance (4,578) (3,786) (3,030) (3,188) (2,295) (2,108) (3,049) (3,049) (2,108) (3,295) (3,809)
Miscellaneous - - - - - - - - - - -
Total H&R Cost (40,631) (33,607) (26,893) (28,301) (20,370) (18,709) (27,066) (27,066) (18,709) (29,244) (33,808)
G&A + HR COST

Salaries & Wages - G&A + HR (100,000) (100,000) (100,000) (100,000) (100,000) (100,000) (100,000) (100,000) (100,000) (100,000) (100,000)
Bonus - - - - - - - - - - -
Employee Meals (1,521) (1,521) (1,521) (1,521) (1,521) (1,521) (1,521) (1,521) (1,521) (1,521) (1,521)
Employee Benefits (68,675) (68,675) (68,675) (68,675) (68,675) (68,675) (68,675) (68,675) (68,675) (68,675) (68,675)
Social Security Fund (750) (750) (750) (750) (750) (750) (750) (750) (750) (750) (750)
Total Salaries and Employee Related benefits (170,946) (170,946) (170,946) (170,946) (170,946) (170,946) (170,946) (170,946) (170,946) (170,946) (170,946)
TOTAL G&A & HR COST (518,691) (458,576) (401,112) (413,166) (345,287) (331,070) (402,592) (402,592) (331,070) (421,240) (460,302)
701419272.xlsx
G&A+HR
Dec-01 2024E 2025E 2026E 2027E 2028E 2029E 2030E 2031E 2032E 2033E
(100,000) (1,200,000) (1,224,000) (1,248,480) (1,273,450) (1,298,919) (1,324,897) (1,351,395) (1,378,423) (1,405,991) (1,434,111)
1.06% 1.62% 1.44% 1.41% 1.37% 1.33% 1.31% 1.30% 1.28% 1.26% 1.24%
- - - - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
(1,521) (18,250) (18,615) (18,987) (19,367) (19,754) (20,149) (20,552) (20,964) (21,383) (21,810)
0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
(68,675) (824,100) (840,582) (857,394) (874,542) (892,032) (909,873) (928,070) (946,632) (965,564) (984,876)
0.73% 1.11% 0.99% 0.97% 0.94% 0.91% 0.90% 0.89% 0.88% 0.86% 0.85%
(750) (9,000) (9,180) (9,364) (9,551) (9,742) (9,937) (10,135) (10,338) (10,545) (10,756)
0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
(170,946) (2,051,350) (2,092,377) (2,134,225) (2,176,909) (2,220,447) (2,264,856) (2,310,153) (2,356,356) (2,403,483) (2,451,553)
1.82% 2.76% 2.46% 2.41% 2.34% 2.28% 2.25% 2.21% 2.18% 2.15% 2.12%
(282,433) (2,227,138) (2,547,639) (2,655,285) (2,786,213) (2,927,647) (3,024,300) (3,129,044) (3,237,656) (3,355,300) (3,467,082)
(356) (2,805) (3,209) (3,345) (3,510) (3,688) (3,810) (3,941) (4,078) (4,226) (4,367)
(9,414) (74,238) (84,921) (88,510) (92,874) (97,588) (100,810) (104,301) (107,922) (111,843) (115,569)
(4,707) (37,119) (42,461) (44,255) (46,437) (48,794) (50,405) (52,151) (53,961) (55,922) (57,785)
(9,414) (74,238) (84,921) (88,510) (92,874) (97,588) (100,810) (104,301) (107,922) (111,843) (115,569)
- - - - - - - - - - -
(14,230) (112,215) (128,363) (133,787) (140,384) (147,510) (152,380) (157,658) (163,130) (169,058) (174,690)
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
(427) (3,366) (3,851) (4,014) (4,212) (4,425) (4,571) (4,730) (4,894) (5,072) (5,241)
- - - - - - - - - - -
- - - - - - - - - - -
(9,414) (74,238) (84,921) (88,510) (92,874) (97,588) (100,810) (104,301) (107,922) (111,843) (115,569)
(1,883) (14,848) (16,984) (17,702) (18,575) (19,518) (20,162) (20,860) (21,584) (22,369) (23,114)
- - - - - - - - - - -
- - - - - - - - - - -
701419272.xlsx
G&A+HR
- - - - - - - - - - -
(1,883) (14,848) (16,984) (17,702) (18,575) (19,518) (20,162) (20,860) (21,584) (22,369) (23,114)
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
(334,162) (2,635,053) (3,014,255) (3,141,618) (3,296,526) (3,463,864) (3,578,220) (3,702,148) (3,830,653) (3,969,845) (4,102,101)
3.55% 3.55% 3.55% 3.55% 3.55% 3.55% 3.55% 3.55% 3.55% 3.55% 3.55%
(505,108) (4,686,403) (5,106,632) (5,275,842) (5,473,435) (5,684,311) (5,843,076) (6,012,302) (6,187,010) (6,373,328) (6,553,654)
5.37% 6.31% 6.01% 5.96% 5.89% 5.82% 5.80% 5.76% 5.73% 5.70% 5.67%
- - - - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - - - -
- - - - - - - - - - -
(2,135) (16,832) (19,255) (20,068) (21,058) (22,127) (22,857) (23,649) (24,470) (25,359) (26,203)
(1,067) (8,416) (9,627) (10,034) (10,529) (11,063) (11,429) (11,824) (12,235) (12,679) (13,102)
(2,135) (16,832) (19,255) (20,068) (21,058) (22,127) (22,857) (23,649) (24,470) (25,359) (26,203)
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
(1,883) (14,848) (16,984) (17,702) (18,575) (19,518) (20,162) (20,860) (21,584) (22,369) (23,114)
- - - - - - - - - - -
- - - - - - - - - - -
(18,829) (148,476) (169,843) (177,019) (185,748) (195,176) (201,620) (208,603) (215,844) (223,687) (231,139)
- - - - - - - - - - -
- - - - - - - - - - -
701419272.xlsx
G&A+HR
- - - - - - - - - - -
- - - - - - - - - - -
(9,414) (74,238) (84,921) (88,510) (92,874) (97,588) (100,810) (104,301) (107,922) (111,843) (115,569)
(1,883) (14,848) (16,984) (17,702) (18,575) (19,518) (20,162) (20,860) (21,584) (22,369) (23,114)
- - - - - - - - - - -
(1,883) (14,848) (16,984) (17,702) (18,575) (19,518) (20,162) (20,860) (21,584) (22,369) (23,114)
(4,981) (39,275) (44,927) (46,826) (49,134) (51,629) (53,333) (55,180) (57,096) (59,170) (61,141)
- - - - - - - - - - -
- - - - - - - - - - -
(44,209) (348,612) (398,780) (415,630) (436,124) (458,262) (473,391) (489,787) (506,788) (525,203) (542,700)
0.47% 0.47% 0.47% 0.47% 0.47% 0.47% 0.47% 0.47% 0.47% 0.47% 0.47%
(44,209) (348,612) (398,780) (415,630) (436,124) (458,262) (473,391) (489,787) (506,788) (525,203) (542,700)
0.47% 0.47% 0.47% 0.47% 0.47% 0.47% 0.47% 0.47% 0.47% 0.47% 0.47%
(100,000) (1,200,000) (1,224,000) (1,248,480) (1,273,450) (1,298,919) (1,324,897) (1,351,395) (1,378,423) (1,405,991) (1,434,111)
1.06% 1.62% 1.44% 1.41% 1.37% 1.33% 1.31% 1.30% 1.28% 1.26% 1.24%
- - - - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
(1,521) (18,250) (18,615) (18,987) (19,367) (19,754) (20,149) (20,552) (20,964) (21,383) (21,810)
0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
(68,675) (824,100) (840,582) (857,394) (874,542) (892,032) (909,873) (928,070) (946,632) (965,564) (984,876)
0.73% 1.11% 0.99% 0.97% 0.94% 0.91% 0.90% 0.89% 0.88% 0.86% 0.85%
(750) (9,000) (9,180) (9,364) (9,551) (9,742) (9,937) (10,135) (10,338) (10,545) (10,756)
0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
(170,946) (2,051,350) (2,092,377) (2,134,225) (2,176,909) (2,220,447) (2,264,856) (2,310,153) (2,356,356) (2,403,483) (2,451,553)
1.8% 2.8% 2.5% 2.4% 2.3% 2.3% 2.2% 2.2% 2.2% 2.1% 2.1%
(378,371) (2,983,665) (3,413,035) (3,557,248) (3,732,650) (3,922,127) (4,051,611) (4,191,936) (4,337,441) (4,495,048) (4,644,801)
4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0% 4.0%
(549,317) (5,035,015) (5,505,412) (5,691,472) (5,909,559) (6,142,574) (6,316,467) (6,502,089) (6,693,798) (6,898,531) (7,096,354)
5.8% 6.8% 6.5% 6.4% 6.4% 6.3% 6.3% 6.2% 6.2% 6.2% 6.1%
701419272.xlsx
S&M
S&M: Financial Projections
In THB
S&M Total Staff Headcount - - - - - - - - - - -

Salaries & Wages - S&M - - - - - - - - - - -
Bonus - - - - - - - - - - -
Employee Meals - - - - - - - - - - -
Other Expenses
Printing and stationary - - - - - - - - - - -
Postage & Telegram - - - - - - - - - - -
Telephone & Fax - - - - - - - - - - -
Internet costs - - - - - - - - - - -
License & Taxes - - - - - - - - - - -
Transportation & Travelling (6,271) (5,187) (4,151) (4,368) (3,144) (2,888) (4,177) (4,177) (2,888) (4,514) (5,218)
Housing & relocation - - - - - - - - - - -
Entertainment (43,262) (35,783) (28,634) (30,134) (21,689) (19,921) (28,818) (28,818) (19,921) (31,138) (35,998)
Newspaper & Magazine (1,483) (1,227) (981) (1,033) (743) (683) (988) (988) (683) (1,067) (1,234)
Subscription fee (Travelclick) (17,305) (14,313) (11,454) (12,054) (8,676) (7,968) (11,527) (11,527) (7,968) (12,455) (14,399)
Incentive - - - - - - - - - - -
Social Media (8,652) (7,157) (5,727) (6,027) (4,338) (3,984) (5,764) (5,764) (3,984) (6,228) (7,200)
Photography - - - - - - - - - - -
Direct Mail - - - - - - - - - - -
PR/COM - - - - - - - - - - -
Advertising - Publications - - - - - - - - - - -
Advertising - Website - - - - - - - - - - -
Advertising - Radio & TV - - - - - - - - - - -
Advertising - Other Media (43,262) (35,783) (28,634) (30,134) (21,689) (19,921) (28,818) (28,818) (19,921) (31,138) (35,998)
Collateral Material & Brochures - - - - - - - - - - -
Travelling Trade Show overseas - - - - - - - - - - -
701419272.xlsx
S&M
Barter Brochures/publications - - - - - - - - - - -
F&B/Spa marketing/Promotions - - - - - - - - - - -
VIP AMENITIES - - - - - - - - - - -
S&M Total Cost (120,235) (99,450) (79,582) (83,749) (60,280) (55,364) (80,093) (80,093) (55,364) (86,541) (100,047)
701419272.xlsx
S&M
Dec-01 2024E 2025E 2026E 2027E 2028E 2029E 2030E 2031E 2032E 2033E
- - - - - - - - - - -
- - - - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - - - -
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
(6,823) (53,806) (61,549) (64,149) (67,312) (70,729) (73,064) (75,595) (78,219) (81,061) (83,761)
- - - - - - - - - - -
(47,072) (371,190) (424,606) (442,548) (464,369) (487,941) (504,050) (521,507) (539,609) (559,217) (577,847)
(1,613) (12,723) (14,554) (15,169) (15,917) (16,725) (17,277) (17,875) (18,496) (19,168) (19,807)
(18,829) (148,476) (169,843) (177,019) (185,748) (195,176) (201,620) (208,603) (215,844) (223,687) (231,139)
- - - - - - - - - - -
(9,414) (74,238) (84,921) (88,510) (92,874) (97,588) (100,810) (104,301) (107,922) (111,843) (115,569)
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
(47,072) (371,190) (424,606) (442,548) (464,369) (487,941) (504,050) (521,507) (539,609) (559,217) (577,847)
- - - - - - - - - - -
- - - - - - - - - - -
701419272.xlsx
S&M
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
(130,824) (1,031,622) (1,180,079) (1,229,942) (1,290,588) (1,356,101) (1,400,871) (1,449,389) (1,499,699) (1,554,192) (1,605,970)
1.4% 1.4% 1.4% 1.4% 1.4% 1.4% 1.4% 1.4% 1.4% 1.4% 1.4%
(130,824) (1,031,622) (1,180,079) (1,229,942) (1,290,588) (1,356,101) (1,400,871) (1,449,389) (1,499,699) (1,554,192) (1,605,970)
1.39% 1.39% 1.39% 1.39% 1.39% 1.39% 1.39% 1.39% 1.39% 1.39% 1.39%
701419272.xlsx
Manning
MANNING Blue Tree Eco-Lodge
Salaries and Employee Related Benefits 2024 (First year)
Employee Related Benefits general assumptions

Nb of days in a year 365
Nb of month in a year 12
Insurance /month (THB) 175.00
Pension (Provident Fund) % of salary -
Transport / day (THB) -
Meals / day (THB) 60.00
Housing costs average / day (THB) -
Laundry / working day (THB) -
Number of working days / yr 312.00
Bonus / month - % of salary -
Social Security Fund - % of salary inc. bonus -
5%*Salary < 600 (%) 5.00%
5%*Salary > 600 (THB) 750
Housekeeping Staff
Total amounts per month
Total Provident Social Allowance /
Position Level Headcount salary Allowance Salary Fund Security Housing Insurance
HK Manager 1 40,000 - 40,000 - 750 - 175
Housekeeping Supervisor Supervisor 1 20,000 - 20,000 - 750 - 175
Butler Member - 20,000 - - - - - -
Room attendant Member 6 15,000 - 90,000 - 4,500 - 1,050
Linen/uniform attendant Member - 15,000 - - - - - -
Public Area Attendant Member 3 15,000 - 45,000 - 2,250 - 525
Florist/HK Attendant Member - - - - - - - -
Chief Gardener Supervisor - 15,000 - - - - - -
701419272.xlsx
Manning
Gardeners Member - 12,000 - - - - - -

Assistant Houskeping Manager Manager 1 30,000 - 30,000 - 750 - 175
- - - - - - - - - -
- - - - - - - - - -
Total 12 Monthly Total 225,000 - 9,000 - 2,100
Total 2024E 2,700,000 - 108,000 - 25,200
Front Office Staff

Front office Manager Manager 1 50,000 - 50,000 - 750 - 175
GSA Supervisor Supervisor 1 35,000 - 35,000 - 750 - 175
GRO Supervisor Supervisor 1 35,000 - 35,000 - 750 - 175
GSA Member 4 18,000 - 72,000 - 3,000 - 700
Night GSA Supervisor 1 20,000 - 20,000 - 750 - 175
Reservasion supervisor Member 1 30,000 - 30,000 - 750 - 175
Bellman / concierge Member 2 15,000 - 30,000 - 1,500 - 350
Concierge Supervisor 1 20,000 - 20,000 - 750 - 175
Lounge Supervisor Supervisor - 25,000 - - - - - -
Driver Member - 15,000 - - - - - -
room division Supervisor - 80,000 - - - - - -
- Member - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
Total 2024E 3,504,000 - 108,000 - 25,200
701419272.xlsx
Manning
Kitchen Staff
Total Provident Social Allowance / Gross-up
Position Level Headcount salary Allowance Salary Fund Security Housing Tax Insurance
Chef Manager 1 60,000 - 60,000 - 750 - 175
Sous CHef Asst Mgr 1 40,000 - 40,000 - 750 - 175
Chef de Partie Supervisor 2 30,000 - 60,000 - 1,500 - 350
Demi Chef Sr. Member 4 20,000 - 80,000 - 3,000 - 700
Butcher/Cold kitchen Member - - - - - - - -
Commis Member 1 15,000 - 15,000 - 750 - 175
Pastry Chef Supervisor - - - - - - - -
Commis Pastry Member - - - - - - - -
Steward Supervisor Supervisor - - - - - - - -
Steward Member - - - - - - - -
chef de cuisine Manager - - - - - - - -
Night commis Supervisor - - - - - - - -
Total 9 Monthly Total 255,000 - 6,750 - - 1,575
Total 2024E 3,060,000 - 81,000 - - 18,900
Service Staff
FB Manager Manager 1 50,000 - 50,000 - 750 - 175
Asst Restaurant Mg Supervisor 1 35,000 - 35,000 - 750 - 175
FB Supervisor Supervisor - - - - - - - -
701419272.xlsx
Manning
Asst Bar Mg Supervisor 1 35,000 - 35,000 - 750 - 175

F&B Attendant Member 6 15,000 - 90,000 - 4,500 - 1,050
Bartender Member 3 20,000 - 60,000 - 2,250 - 525
Bar Captain Supervisor - - - - - - - -
Room Service Attendant Member - - - - - - - -
Beach / pool Attendant Member - - - - - - - -
F&B coordinator Supervisor - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
Total 2024E 3,240,000 - 108,000 - 25,200
SPA Staff
Monthly - Total Provident Social Allowance /
Spa Manager Manager - - - - - - - -
Assist Spa Mngr / Spa ReceptioniSupervisor - - - - - - - -
Spa Supervisor Supervisor - - - - - - - -
Spa attendant Member - - - - - - - -
Yoga instructor Supervisor - 25,000 - - - - - -
Fitness instructor Member - 25,000 - - - - - -
Nutritionist Supervisor - - - - - - - -
Activity Member - 25,000 - - - - - -
- - - - - - - - - -
- - - - - - - - - -
701419272.xlsx
Manning
- - - - - - - - - -
- - - - - - - - - -
Total - Monthly Total - - - - -
Total 2024E - - - - -
POMEC Staff
Chief Engineer Manager - 80,000 - - - - - -
Engineering Supervisor Supervisor - 18,000 - - - - - -
Engineering Attendant Member - 12,000 - - - - - -
Pool Cleaner Member - 15,000 - - - - - -
Engineering Coordinator Member - - - - - - - -
Boat Maintenance Member - - - - - - - -
Carpenter / Painter Member - 15,000 - - - - - -
Technician Member - 15,000 - - - - - -
Assitant Chief Engineer Manager - 30,000 - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
Total 2024E - - - - -
G&A Staff
701419272.xlsx
Manning

Monthly - Total Provident Social Allowance / Gross-up
Position Level Headcount salary Allowance Salary Fund Security Housing Tax Insurance
General/Resident Manager Manager 1 100,000 20,000 100,000 - 750 20,000 48,500 175
Exec. Asst. Manager Manager - - - - - -
Exec. Secretary Manager - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
Total 1 Monthly Total 100,000 - 750 20,000 48,500 175
Total 2024E 1,200,000 - 9,000 240,000 582,000 2,100
Accounting Staff

Chief Accountant Manager - 40,000 - - - - - -
Assistant CA Manager - 25,000 - - - - - -
AP and AR Officer Member - 22,000 - - - - - -
Accounting Officer Member - - - - - - - -
Purchasing Supervisor Supervisor - 20,000 - - - - - -
701419272.xlsx
Manning
Purchasing/Receiving Officer Member - 15,000 - - - - - -

Cost Controller Supervisor - - - - - - - -
Store Clerk Member - - - - - - - -
IT Supervisor Supervisor - - - - - - - -
Income Auditor Member - - - - - - - -
Security Member - 13,000 - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
Total 2024E - - - - -
HR Staff
Human Resource Mgr Manager - 30,000 - - - - - -
HR & Training Supervisor Supervisor - - - - - - - -
HR Supervisor Member - - - - - - - -
Training Manager/English TeacheManager - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
701419272.xlsx
Manning
Total 2024E - - - - -
Summary Manning 2024 First year of business
Total Total
Monthly Yearly
Hotel Total Staff Headcount 48 48
Salaries & Wages (1,177,000) (14,124,000)

Bonus - -
Employee Meals (73,000) (876,000)
Employee Benefits (76,900) (922,800)
Social Security Fund (36,000) (432,000)
Total (1,362,900) (16,354,800)
701419272.xlsx
Manning
Trans- Monthly Total Monthly Total

Meals portation Total 2024E Summary Total 2024E
1,521 - 42,446 509,350
1,521 - 22,446 269,350 Staff Headcount 12 12
- - - -
9,125 - 104,675 1,256,100 Salaries & Wages (225,000) (2,700,000)
- - - - Bonus - -
4,563 - 52,338 628,050 Employee Meals (18,250) (219,000)
- - - - Employee Benefits (2,100) (25,200)
- - - - Social Security Fund (9,000) (108,000)
701419272.xlsx
Manning
- - - - Total (254,350) (3,052,200)

1,521 - 32,446 389,350
- - - -
- - - -
18,250 - 254,350
Check -
219,000 -
Check -

1,521 - 52,446 629,350
1,521 - 37,446 449,350 Staff Headcount 12 12
1,521 - 37,446 449,350
6,083 - 81,783 981,400 Salaries & Wages (292,000) (3,504,000)
1,521 - 22,446 269,350 Bonus - -
1,521 - 32,446 389,350 Employee Meals (18,250) (219,000)
3,042 - 34,892 418,700 Employee Benefits (2,100) (25,200)
1,521 - 22,446 269,350 Social Security Fund (9,000) (108,000)
- - - - Total (321,350) (3,856,200)
- - - -
- - - -
- - - -
- - - -
- - - -
18,250 - 321,350
Check -
219,000 -
701419272.xlsx
Manning
Check -

1,521 - 62,446 749,350
1,521 - 42,446 509,350 Staff Headcount 9 9
3,042 - 64,892 778,700
6,083 - 89,783 1,077,400 Salaries & Wages (255,000) (3,060,000)
- - - - Bonus - -
1,521 - 17,446 209,350 Employee Meals (13,688) (164,250)
- - - - Total (277,013) (3,324,150)
- - - -
- - - -
- - - -
13,687 - 277,013
Check -
164,250 -
Check -

1,521 - 52,446 629,350
1,521 - 37,446 449,350 Staff Headcount 12 12
- - - -
701419272.xlsx
Manning
1,521 - 37,446 449,350 Salaries & Wages (270,000) (3,240,000)

9,125 - 104,675 1,256,100 Bonus - -
4,563 - 67,338 808,050 Employee Meals (18,250) (219,000)
- - - - Total (299,350) (3,592,200)
- - - -
- - - -
- - - -
- - - -
- - - -
18,250 - 299,350
Check -
219,000 -
Check -

- - - -
- - - - Staff Headcount - -
- - - -
- - - - Salaries & Wages - -
- - - - Bonus - -
- - - - Employee Meals - -
- - - - Employee Benefits - -
- - - - Social Security Fund - -
- - - - Total - -
- - - -
701419272.xlsx
Manning
- - - -
- - - -
- - -
Check -
- -
Check -

- - - -
- - - -
- - - - Bonus - -
- - - - Total - -
- - - -
- - - -
- - - -
- - -
Check -
- -
Check -
701419272.xlsx
Manning

1,521 - 170,946 2,051,350
- - - - Staff Headcount 1 1
- - - -
- - - - Salaries & Wages (100,000) (1,200,000)
- - - - Bonus - -
- - - - Employee Meals (1,521) (18,250)
- - - - Social Security Fund (750) (9,000)
- - - - Total (170,946) (2,051,350)
- - - -
- - - -
- - - -
1,521 - 170,946
Check -
18,250 -
Check -

- - - -
- - - -
- - - - Bonus - -
701419272.xlsx
Manning
- - - - Total - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - -
Check -
- -
Check -

- - - -
- - - -
- - - - Bonus - -
- - - - Total - -
- - - -
- - - -
- - - -
701419272.xlsx
Manning
- - -
Check -
- -
Check -
701419272.xlsx
Insurance
Industrial All Risks 0.075% 450,000,000 337,500
Public & Product Liability 80,000 80,000
Employer's Liability 0.03% 16,354,800 4,906
77,764
448

P - L Glamping Blue Tree

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Cover

L.B Aresia Co.,Ltd.

Project Development Model

Project Name: Blue Tree Eco-Lodge

Project Cost Debt - Project Cost - - yr 3

Equity - - Interest during Construction - - From yr 4 to yr 8

Total Sources - Total Uses - Interest income rate on cash (%)

Breakdown of revenues by distribution chanel:

Discount & Allowance by distribution chanel:

Commissions & Costs by distribution chanel:

Total Discount, Commissions & Costs by distribution chanel:

Occupancy per category:

Room units per category:

Nb of Out Of Order rooms per category:

Private Villas Owners' asssumptions

Mnths Prior Monthly Monthly Monthly Monthly

Assistant Houskeping MaManager 1 - 30,000 - Assistant Hous Manager 1 30,000 -

Front Office Staff

Mnths Prior Monthly Monthly

Salaries and benefits growth % n/a n/a -

B-Bar & Restaurant

Swimming pool Bar

Capture ratio DINNER - Beverage n/a 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%

Cost of Sales - Food (% of Food Rev)

Cost of Sales - Beverage (% of Beverage Rev)

Cost of Sales - Wine (% of Wine Rev)

Cost of Sales - Cigarette & Cigar (% of Cigarette & Cigar Rev)

Cost of Sales - Other (% of Other Rev)

Mnths Prior Monthly Monthly

Mnths Prior Monthly Monthly Monthly Monthly

Salaries and benefits growth % n/a n/a 2.00%

Mnths Prior Monthly Monthly

Salaries and benefits growth % n/a n/a 2.00%

Av. Nb of working days/yr for uniforms - 26 26 26 26 26 26 26 26 26 26 26 26 312 312

Mnths Prior Monthly Monthly

Salaries and benefits growth % n/a n/a 2.00%

Other Operated Departments

Mnths Prior Monthly Monthly

Salaries and benefits growth % n/a n/a 2.00%

Staff Facilities department

Property Operation Maintenance & Energy

Mnths Prior Monthly Monthly

Salaries and benefits growth % n/a n/a 2.00%

Other Expenses (% of Hotel Total Revenues exc. Uniforms)

Mnths Prior Monthly Monthly

Mnths Prior Monthly Monthly

Salaries and benefits growth % n/a n/a 2.00%

Base Management Fee (% of Total Hotel Rev) - - - - - - - - - - - - - - -

Mnths Prior Monthly Monthly

Salaries and benefits growth % n/a n/a 2.00%

Pre-Opening Management Services

Sales & Marketing Activities

Cost Units Total

Tour Operator Costs

ILTM (Cannes - Dec 2013 15,000 1 15,000

Total Sales & Marketing 2,553,000

Training Expenses and HR

Trial Run 10 days

Wine store 2,000

Total Pre-Opening Expenses 6,593,000

Employee Related Benefits general assumptions 0

Nb of days in a year 366 365