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03-05-07 Special Called Joint Meeting of the La Porte Development Corporation Board of Directors and the La Porte City Council Minutes
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03-05-07 Special Called Joint Meeting of the La Porte Development Corporation Board of Directors and the La Porte City Council Minutes
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City Meetings
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La Porte Development Board Corporation/Type B
Meeting Doc Type
Minutes
Date
3/5/2007
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<br />PROSPECTIVE FINANCIAL ANALYSIS <br /> <br />V.2 <br /> <br />Annual "ll' .ve~.~ ;:: Rooms <br />Year Occupancy _ b ~iillily ~ ,i~~, Revenue <br /> <br />Estimated Rooms Revenue <br />Proposed Sylvan Beach Hotel <br />la Porte, Texas <br /> <br />2010 64% $158 $9,227,000 <br />2011 68% $162 $10,052,000 <br />2012 72% $167 $10,972,000 <br />2013 74% $172 $11,615,000 <br />2014 74% $177 $11,953,000 <br /> Source: PKF Consulting <br /> <br />Additional sources of revenue include food and beverage, telephone, other operated <br />departments, and rentals and other income. Our stabilized year projections (in 2006 <br />dollars) for additional revenue items are summarized below. <br /> <br /> Departmental lEi.null" ': ~;' <br /> '!;'t{ :<<"jii ~, <br /> Dollars Per ()~j1_!;,t Rggm,,a,,L <br />Items Comparable Hotels Subject Hotel <br /> Projections <br /> Range Average Stabilized Year <br />Food $39.64 - $71.15 $55.32 $55.00 <br />Beverage $6.01 - $11.99 $9.12 $9.00 <br />Telecommunication $1.17-$4.38 $2.58 $2.50 <br />Other Operated Departments $1.85 - $8.68 $5.28 $5.00 <br />Rentals and Other Income $1.70 - $3.17 $2.31 $2.00 <br /> Source: PKF Consulting <br /> <br />DEPARTMENTAL EXPENSES <br /> <br />Departmental expenses are chargeable to a specific revenue-producing department, in <br />this case Rooms, Food and Beverage, Telecommunications and Other Operated <br />Departments. <br /> <br /> Departmenli'.sE1f1J j! <br /> Percent of DepaJ'lm R fl~, <br />Items Comparable Hotels Subject Hotel <br /> Projections <br /> Range Average Stabilized Year <br />Rooms ($ paR) $23.89 - $38.48 $32.28 $32.00 <br />Food and Beverage 66.8% - 81.1% 73.4% 70.0% <br />Telecommunications 49.3% -177.1% 80.3% 95.0% <br />Other Operated Departments 38.2% - 81.0% 49.3% 50.0% <br /> Source: PKF Consulting <br />
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