Proposed arrangement & commercials
Following the POP, we propose to close the restaurant and bar to do a complete fitout for the new concept while keeping the pool operation as is ( Managed by the hotel).
A new concept to open in October will include the Pool and dining areas (mood board and cussing direction attached).
Commercial proposal:
Base rent: AED 250 psft for the indoor area only (total 2500 sqft)
TOR 10% on all net revenue generated from the pool operation & Dine in
Rent commencement date: 1st September 2023
Pool management and charges:
§ The main pool area will be managed by Elements hospitality, any hotel guest will be accommodated based on availability.
§ The Secondary pool will be dedicated to the Hotel guest at all times.
PERMANENT CONCEPT Revenue Forecast 2023/2024 2024/2025 2025/2026 2026/2027 2027/2028 2028/2029 2029/2030 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Total Estimated growth in sale % 10% 8% 3% 3% 3% 3% Food Revenue 10,013,400 11,014,740 11,895,919 12,252,797 12,620,381 12,998,992 13,388,962 84,185,191.00 Alc. Beverage Revenue 15,020,100 16,522,110 17,843,879 18,379,195 18,930,571 19,498,488 20,083,443 126,277,786.00 Other revenueTotal net Revenue Exc Vat & Incl DM tax 25,033,500 27,536,850 29,739,798 30,631,992 31,550,952 32,497,480 33,472,405 210,462,977 Average daily sale 68,584.93
Average daily covers 278
Average weekly sale
Food
Alc.
Total
Sales
Revenue Forecast POP UP Dec-22 Jan-23 Feb-23 Mar-23 Estimated growth in sale % 8% 5% 5% Food Revenue 180,000 194,400 204,120 214,326 Alc. Beverage Revenue 252,000 272,160 285,768 300,056 Other revenueTotal net Revenue Exc Vat & Incl DM tax 432,000 466,560 489,888 514,382 Average daily sale 1,183.56 1,278.25 1,342.16 1,409.27 Average daily covers 278 301 316 332 Average weekly sale 8,307.69 8,972.31 9,420.92 9,891.96
75,443.42 81,478.90 83,923.27 86,440.96 89,034.19 91,705.22
306 331 341 351 361 372
481,413.46 529,554.81 571,919.19 589,076.77 606,749.08 624,951.54 643,700.10
Cost 30.00% 3,004,020 3,304,422 3,568,776 3,675,839 3,786,114 3,899,698 4,016,689 25,255,557
Cost 25.00% 3,755,025 4,130,528 4,460,970 4,594,799 4,732,643 4,874,622 5,020,861 26,548,586
Cost of
6,759,045 7,434,950 8,029,745 8,270,638 8,518,757 8,774,320 9,037,549 56,825,004