Revenue by department (R m)
|
Department |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
Accommodation |
72 |
108 |
150 |
196 |
255 |
|
Food & beverage |
45 |
68 |
98 |
130 |
170 |
|
Conferences & events |
18 |
32 |
50 |
72 |
100 |
|
Wellness & spa |
7 |
12 |
18 |
25 |
33 |
|
Other (mgmt, residences, memberships) |
3 |
5 |
9 |
12 |
17 |
|
Total revenue |
145 |
225 |
325 |
435 |
575 |
Flagship operating KPIs (144 keys)
|
Metric |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
Occupancy |
52.0% |
60.0% |
65.0% |
68.0% |
70.0% |
|
ADR (ZAR) |
R3900 |
R4100 |
R4300 |
R4500 |
R4700 |
|
RevPAR (ZAR) |
R2028 |
R2460 |
R2795 |
R3060 |
R3290 |
|
Total headcount |
245 |
297 |
361 |
425 |
489 |
Credit & coverage metrics
|
Metric |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
Senior debt (closing, R m) |
290.0 |
290.0 |
267.7 |
245.4 |
223.1 |
|
DSCR (x) |
0.87x |
1.57x |
1.55x |
2.34x |
3.40x |
|
Interest cover (x) |
0.87x |
1.57x |
2.49x |
3.87x |
5.82x |
|
Net debt / EBITDA (x) |
7.3x |
3.8x |
1.9x |
0.9x |
0.1x |
|
Closing cash (R m) |
57.1 |
69.8 |
90.8 |
132.9 |
208.1 |
Profit reconciliation (R m)
|
Line |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
EBITDA |
32 |
58 |
92 |
132 |
182 |
|
Less depreciation |
(24.9) |
(24.9) |
(25.5) |
(26.5) |
(27.8) |
|
Less interest |
(37.0) |
(37.0) |
(37.0) |
(34.1) |
(31.3) |
|
Profit before tax |
(29.8) |
(3.8) |
29.5 |
71.4 |
122.9 |
|
Less tax |
0.0 |
0.0 |
0.0 |
(18.1) |
(33.2) |
|
Net profit after tax |
(29.8) |
(3.8) |
29.5 |
53.2 |
89.7 |