DisneyLand_Suggestive (version 2)

DisneyLand_Suggestive (version 2) - 80 Profit &...

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Unformatted text preview: 80 Profit & Loss Basic Facts Footfall Projections Construction Cost BASIC FLOW OF SHEETS FOR HONG KONG DISNEY LAND Revenue Assumptions Revenue Projections Project Performance Walt Disney Perspective Hong Pe + Re C Man Instructions: Change figures only in Yellow Cells This colour is relevant for Sensitivity of Item Follow Links to Navigate g Kong Govt. erspective elevant Output Lenders' Perspective Cash Water fall nagerial Tool BASIC FACTS Population Page-4, HK-B 1998 population of HK 6,687,200 Data Entry Page-4, HK-B Average Growth rate 1.70% Total Tourists Page-4, HK-B Tourists in 1998 9,600,000 Page-4, HK-B Average Growth rate 16.00% Sensitivity Target Financial Assumptions Average Inflation Rate (CPI) 7.31% Yield of 10yr bond (Nov.) 7.64% Exihibit - 8 One Week Exchange 4.78% Exihibit - 8 Maturity Premium 2.86% Premium to enter country 0.00% Beta = 0.48 Rm = 24% Oriental Exihibit 3 - HK - A 15.5% Assuming it to remain same 17.82% Prime Rate 8.50% 11.36% Commercial borrowing rate 30.00% PLR+ Maturity Premium 9.0% Concessionary interest rate 12.00% PLR+.5% Depreciation Rate 5.00% of sales Total Investment 18,100 Total Equity Component 905 HKG's Equity 462 51% D/V ratio Walt Disney's Equity 443 49% 95.00% Total Debt 17,195 56% Ratio- Commercial Bank debt 100.00% Debt from Commercial Bank 17,195 HK$ Millions Debt from HKB (Concession, loan) 0 HK$ Millions Years of Repayment 20 Repayment - commercial loan 860 HK$ Millions Repayment - HKB Loan HK$ Millions Land premium (4 Billion) 4000 Land premium (Y/N) 1 Cost Overrun 0% Royalty Paid or Not Revenue Assumptions Hotel Room Rate in 1999 1137 HK$ pe room Hotel Room Rate in 2005 1863 HK$ pe room on spending Spending per day Local Residents 680 HK$ per head Cost of Equity for WD = (Rf + beta(Rm-Rf) + Risk Return of AOI (Sensex in last 10 yrs 70% Entrance fee per person 467.5 HK$ per head Travelling Expenses 60 Food and Merchandise 586.5 1114 check Hotel Occupancy 81.70% Gross Profit of oriental Land Co. 25.00% of revenue Gross Profit of Euro Disney 37.00% of revenue Operating Expenses 63.00% Administrative Expenses Oriental Land co. 6.00% of revenue Euro Disney 34.00% of revenue Scale of New Theme Park Variable Unit Hotel Rooms 2100 Nos. Retail, dining and FEC Area 28000 sqmtrs Total Cost for developing Phase-1 14,100 HK $ Mn excluding land premium Sensitivity Target (250-300) FOOTFALL PROJECTIONS Construction Phase Year Variables 2000 2001 2002 2003 Local Residents Population in HK Market Penetration 1.10% Visit Per Guest Ratio 1.35 Annual Attendance TOTAL TOURISTS VISITING -HK Non Business Tourist 70% Market Penetartion Rate 15.65% Function Growth in Penetration 0% of Marketing Visit Per Guest Ratio 1.17 Annual Attendance Business Tourist Market Penetartion Rate 4.00% Growth in Penetration 0% Visit Per Guest Ratio 1.00 Annual Attendance Induced Tourists 0.20% Ratio of Induced Tourist to base ratio Induced Tourists Market Penetartion Rate 100.00% Growth in Penetration 0% Visit Per Guest Ratio 1.15 Annual Attendance...
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DisneyLand_Suggestive (version 2) - 80 Profit &...

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