ASTON KALIANDA

10 YEARS PROJECTION V.003- in thousand rupiah ( 16-Dec-2019 )

Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Total
365 365 365 366 365 365 365 366 365 365 3,652
# OF ROOMS 130 130 130 130 130 130 130 130 130 130 130
OCCUPANCY ( % ) 58% 66% 70% 72% 73% 75% 75% 75% 75% 75% 71%
AVERAGE ROOM RATE ( RP ) 625,000 651,000 669,000 698,000 722,000 734,000 750,000 750,000 750,000 750,000 712,973
AVERAGE SELLING RATE ( RP ) 756,250 886,710 908,490 943,580 972,620 987,140 1,006,500 1,006,500 1,006,500 1,006,500 961,697
REVENUES
ROOMS 17,200,625 20,387,367 22,220,835 23,911,805 25,008,997 26,121,225 26,690,625 26,763,750 26,690,625 26,690,625 241,686,479
FOOD & BEVERAGE 6,536,099 7,777,958 8,501,308 9,181,413 9,640,483 10,122,507 10,426,183 10,530,444 10,635,749 10,742,106 94,094,251
TELEPHONE 4,816 5,298 5,828 6,410 7,051 7,756 8,532 9,385 10,324 11,356 76,757
SPA 260,073 286,081 314,689 346,158 380,774 418,851 460,736 506,810 557,491 613,240 4,144,901
LAUNDRY 123,845 136,229 149,852 164,837 181,321 199,453 219,398 241,338 265,472 292,019 1,973,762
TOTAL REVENUES 24,125,458 28,592,932 31,192,511 33,610,623 35,218,626 36,869,793 37,805,474 38,051,727 38,159,660 38,349,346 341,976,151
COST OF SALES
FOOD & BEVERAGE 2,107,892 2,566,726 2,805,432 3,029,866 3,181,359 3,340,427 3,440,640 3,475,047 3,509,797 3,544,895 31,002,082
TELEPHONE 2,408 2,649 2,914 3,205 3,526 3,878 4,266 4,693 5,162 5,678 38,379
LAUNDRY 49,538 54,492 59,941 65,935 72,528 79,781 87,759 96,535 106,189 116,808 789,505
TOTAL COST OF SALES 2,110,300 2,569,375 2,808,345 3,033,071 3,184,885 3,344,306 3,444,906 3,479,739 3,514,959 3,550,573 31,040,461
PAYROLL & RELATED EXPENSES
ROOM 1,170,685 1,311,167 1,416,060 1,529,345 1,590,519 1,654,140 1,703,764 1,737,839 1,756,087 1,774,525 15,644,131
FOOD & BEVERAGE 1,088,849 1,219,511 1,317,072 1,422,437 1,479,335 1,538,508 1,584,663 1,616,357 1,633,328 1,650,478 14,550,538
TOTAL PAYROLL & RELATED EXP. 2,259,534 2,530,678 2,733,132 2,951,782 3,069,854 3,192,648 3,288,427 3,354,196 3,389,415 3,425,004 30,194,669
OTHER EXPENSES
ROOM 1,627,049 1,822,295 1,949,856 2,086,346 2,169,799 2,256,591 2,301,723 2,347,758 2,372,409 2,397,320 21,331,147
FOOD & BEVERAGE 462,648 518,165 554,437 593,247 616,977 641,656 654,489 667,579 674,589 681,672 6,065,460
TOTAL OTHER EXPENSES 2,089,697 2,340,460 2,504,293 2,679,593 2,786,777 2,898,248 2,956,213 3,015,337 3,046,998 3,078,992 27,396,606
DEPART. OPERATING COST & EXP. 6,459,530 7,440,513 8,045,770 8,664,447 9,041,516 9,435,201 9,689,546 9,849,272 9,951,372 10,054,569 88,631,736
DEPARTMENT PROFIT (LOSS)
ROOM 14,402,891 17,253,905 18,854,919 20,296,114 21,248,679 22,210,494 22,685,138 22,678,153 22,562,129 22,518,780 204,711,201
FOOD & BEVERAGE 2,876,711 3,473,556 3,824,368 4,135,862 4,362,812 4,601,916 4,746,390 4,771,462 4,818,035 4,865,061 42,476,171
TELEPHONE 2,408 2,649 2,914 3,205 3,526 3,878 4,266 4,693 5,162 5,678 38,379
SPA 260,073 286,081 314,689 346,158 380,774 418,851 460,736 506,810 557,491 613,240 4,144,901
OTHER OPERATING INCOME 74,307 81,737 89,911 98,902 108,792 119,672 131,639 144,803 159,283 175,211 1,184,257
TOTAL DEPTMENT INCOME 17,616,390 21,097,928 23,086,801 24,880,241 26,104,582 27,354,810 28,028,168 28,105,920 28,102,099 28,177,970 252,554,910
OVERHEAD DEPARTMENT
PAYROLL & RELATED
ADM. & GENERAL 1,142,966 1,280,122 1,382,532 1,493,135 1,567,792 1,646,181 1,695,567 1,729,478 1,747,637 1,765,988 15,451,398
HUMAN RESOURCES 607,925 680,876 735,346 794,174 833,882 875,576 901,844 919,880 929,539 939,299 8,218,341
SALES & MARKETING 490,687 549,569 593,535 641,017 666,658 693,324 714,124 728,407 736,055 743,784 6,557,160
ENGINEERING 360,293 403,529 435,811 470,676 489,503 509,083 524,355 534,843 540,458 546,133 4,814,684
TOTAL PAYROLL & RELATED 2,601,871 2,914,096 3,147,224 3,399,002 3,557,835 3,724,165 3,835,890 3,912,608 3,953,690 3,995,204 35,041,583
OTHER EXPENSES
ADM. & GENERAL 350,313 392,350 419,815 449,202 467,170 485,857 495,574 505,485 510,793 516,156 4,592,715
HUMAN RESOURCES 17,100 19,152 20,493 21,927 22,804 23,716 24,191 24,675 24,934 25,195 224,187
SALES & MARKETING 406,245 629,045 655,043 638,602 669,154 700,526 642,693 494,672 419,756 424,038 5,679,773
ENGINEERING 191,700 214,704 229,733 245,815 255,647 265,873 271,191 276,614 279,519 282,454 2,513,250
ENERGY COST 2,050,315 2,430,399 2,651,363 2,856,903 2,993,583 3,133,932 3,213,465 3,196,345 3,129,092 3,029,598 28,684,997
TOTAL OTHER EXPENSES 3,015,672 3,685,650 3,976,447 4,212,448 4,408,358 4,609,905 4,647,113 4,497,792 4,364,094 4,277,442 41,694,921
TOTAL OVERHEAD DEPARTMENT 5,617,543 6,599,746 7,123,671 7,611,450 7,966,193 8,334,069 8,483,003 8,410,399 8,317,784 8,272,645 76,736,503
GROSS OPERATING INCOME 11,998,847 14,498,182 15,963,130 17,268,791 18,138,389 19,020,741 19,545,165 19,695,521 19,784,316 19,905,325 175,818,407
OTHER NON OPERATING EXP
MANAGEMENT FEES 1,034,982 1,226,637 1,338,159 1,441,896 1,510,879 1,581,714 1,621,855 1,632,419 1,637,049 1,645,187 14,670,777
TOTAL OTHER EXPENSES 1,034,982 1,226,637 1,338,159 1,441,896 1,510,879 1,581,714 1,621,855 1,632,419 1,637,049 1,645,187 14,670,777
GROSS OPERATING PROFIT (GOP) 10,963,865 13,271,545 14,624,971 15,826,895 16,627,510 17,439,027 17,923,310 18,063,102 18,147,266 18,260,138 161,147,630
OTHER EXPENSES
RESERVED FOR FF&E 723,764 857,788 935,775 1,008,319 1,056,559 1,106,094 1,134,164 1,141,552 1,144,790 1,150,480 10,259,285
INCENTIVE FEES 844,218 1,021,909 1,126,123 1,218,671 1,280,318 1,342,805 1,380,095 1,390,859 1,397,340 1,406,031 12,408,367
TOTAL OTHER EXPENSES 1,567,981 1,879,697 2,061,898 2,226,990 2,336,877 2,448,899 2,514,259 2,532,411 2,542,129 2,556,511 22,667,652
OWNER SHARE PROFIT 9,395,883 11,391,848 12,563,073 13,599,906 14,290,633 14,990,128 15,409,051 15,530,691 15,605,137 15,703,627 138,479,978
OWNERS EXPENSE:
OWNER INSURANCE - PROPERTY 180,000 180,000 180,000 180,000 180,000 180,000 180,000 180,000 180,000 180,000 1,800,000
TOTAL OWNERS EXPENSES 180,000 180,000 180,000 180,000 180,000 180,000 180,000 180,000 180,000 180,000 1,800,000
OWNER SHARE PROFIT 9,215,883 11,211,848 12,383,073 13,419,906 14,110,633 14,810,128 15,229,051 15,350,691 15,425,137 15,523,627 136,679,978

PAYROLL RATIO 20% 19% 19% 19% 19% 19% 19% 19% 19% 19%

Note :
For internal discussion purposes only.
Archipelago will not responsible for any decision using this exercise.
First year starts three months after Soft Opening and Commences with the first month of Grand Opening when hotel project work is 100% completed
Year 1 Assumes a Commencement Date: 2021
These numbers assume that the pre-opening sales and marketing has been fully funded and the hotel has been launched properly
The pre-opening sales and marketing funds are charged to the pre-opening budget.
LOAN PAYMENT

Year 0 Year 1 Year 2

PROJECT COST 89,700,000
LOAN 60% 53,820,000
EQUITY 40% 35,880,000
INTEREST 13.0%
CICILAN POKOK 100% 0.0% 10.0%

DRAWDOWN SCHEDULE 100% - -

OS POKOK - 53,820,000 53,820,000 53,820,000
BUNGA 37,781,640 6,996,600 6,996,600

PROFIT & LOSS - ASTON

EBITDA 105,731,214 9,215,883 11,211,848
INTEREST PAYMENT (37,781,640) (6,996,600) (6,996,600)
NPBT 67,949,574 2,219,283 4,215,248
TAX 25% (16,987,393) (554,821) (1,053,812)
NPAT 50,962,180 1,664,463 3,161,436

CASH FLOW - ASTON

Inflow: - Aston NPAT 50,962,180 1,664,463 3,161,436
- GEK - 3,000,000 3,000,000
Outflow: - Principal Payment (53,820,000) - (5,382,000)
Net Cash Flow 4,664,463 779,436

Beginning Balance 2,400,000 2,400,000 7,064,463

Net Cash Flow - 4,664,463 779,436
Ending Balance 2,400,000 7,064,463 7,843,899

SIMULASI CICILAN POKOK

GRACE PERIOD 1 THN - 8 THN 0.0% 10.0%
NO GRACE PERIOD - 8 THN
Year 3 Year 4 Year 5 Year 6 Year 7 Year 8

10.0% 15.0% 15.00% 15.0% 15.0% 20.0%

- - - - - -
48,438,000 43,056,000 34,983,000 26,910,000 18,837,000 10,764,000
6,296,940 5,597,280 4,547,790 3,498,300 2,448,810 1,399,320

12,383,073 13,419,906 14,110,633 14,810,128 15,229,051 15,350,691

(6,296,940) (5,597,280) (4,547,790) (3,498,300) (2,448,810) (1,399,320)
6,086,133 7,822,626 9,562,843 11,311,828 12,780,241 13,951,371
(1,521,533) (1,955,656) (2,390,711) (2,827,957) (3,195,060) (3,487,843)
4,564,600 5,866,969 7,172,132 8,483,871 9,585,181 10,463,528

4,564,600 5,866,969 7,172,132 8,483,871 9,585,181 10,463,528

3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000
(5,382,000) (8,073,000) (8,073,000) (8,073,000) (8,073,000) (10,764,000)
2,182,600 793,969 2,099,132 3,410,871 4,512,181 2,699,528

7,843,899 10,026,499 10,820,468 12,919,600 16,330,471 20,842,652

2,182,600 793,969 2,099,132 3,410,871 4,512,181 2,699,528
10,026,499 10,820,468 12,919,600 16,330,471 20,842,652 23,542,180

10.0% 15.0% 15.00% 15.0% 15.0% 20.0%