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{"sheet":"5-Year Projections","index":0,"n_rows":38,"n_cols":16,"rows_kept":38,"cut":false,"hidden":false,"merged":[[1,11,1,12],[3,0,3,12],[10,0,10,12],[14,0,14,12],[18,0,18,12],[25,0,25,12],[30,0,30,12],[0,0,0,12],[1,1,1,2],[1,3,1,4],[1,5,1,6],[1,7,1,8],[1,9,1,10],[1,14,1,15]]}
["La Quinta Inn by Wyndham West Palm Beach — Five-Year Projections"]
[null,"YE 2024",null,"Year 1",null,"Year 2",null,"Year 3",null,"Year 4",null,"Year 5",null,null,"DEAL SUMMARY"]
[null,"Amount ($)","% Rev","Amount ($)","% Rev","Amount ($)","% Rev","Amount ($)","% Rev","Amount ($)","% Rev","Amount ($)","% Rev",null,"List Price",1.3E7]
["KEY OPERATING METRICS",{"$nulls":13},"PIP Cost","$25,000"]
["Occupancy",0.78,null,0.8,null,0.82,null,0.835,null,0.85,null,0.865,null,null,"Project Cost",1.3025E7]
["Average Daily Rate",114.0,null,129.0,null,134.0,null,139.0,null,139.0,null,139.0,null,null,"Project CAP Rate",{"$f":"D30/P5","v":0.1504748148}]
["RevPAR",{"$f":"B5*B6","v":88.92},null,{"$f":"D5*D6","v":103.2},null,{"$f":"F5*F6","v":109.88},null,{"$f":"H5*H6","v":116.065},null,{"$f":"J5*J6","v":118.15},null,{"$f":"L5*L6","v":120.235},null,null,"Price Per Key",{"$f":"P3/P9","v":114035.0877}]
["Available Rooms",41610.0,null,41610.0,null,41610.0,null,41610.0,null,41610.0,null,41610.0,null,null,"Project RRM",{"$f":"P5/D12","v":3.033194913}]
["Occupied Rooms",32456.0,null,{"$f":"P9*365*D5","v":33288},null,34120.0,null,34744.0,null,35369.0,null,35993.0,null,null,"Keys",114.0]
["Revenue Per Room",{"$f":"B6*B5*365","v":32455.8},null,{"$f":"D6*D5*365","v":37668},null,{"$f":"F6*F5*365","v":40106.2},null,{"$f":"H6*H5*365","v":42363.725},null,{"$f":"J6*J5*365","v":43124.75},null,{"$f":"L6*L5*365","v":43885.775},null,null,"Loan Type","SBA/Conventional"]
["REVENUE",{"$nulls":13},"LTV",0.7]
["Room Revenue",3687730.0,{"$f":"B12/B14","v":0.9878693195},{"$f":"P9*365*D5*D6","v":4294152},{"$f":"D12/D14","v":0.9892647609},{"$f":"P9*365*F5*F6","v":4572106.8},{"$f":"F12/F14","v":0.9894817003},{"$f":"$P$9*365*H5*H6","v":4829464.65},{"$f":"H12/H14","v":0.989683202},{"$f":"$P$9*365*J5*J6","v":4916221.5},{"$f":"J12/J14","v":0.9896832784},{"$f":"$P$9*365*L5*L6","v":5002978.35},{"$f":"L12/L14","v":0.9896831563},null,"Equity Required",{"$f":"P5-P13","v":3925000}]
["Other Revenue",45284.0,{"$f":"B13/B14","v":0.01213068046},46599.0,{"$f":"D13/D14","v":0.01073523913},48602.0,{"$f":"F13/F14","v":0.0105182997},50344.0,{"$f":"H13/H14","v":0.01031679798},51248.0,{"$f":"J13/J14","v":0.01031672162},52153.0,{"$f":"L13/L14","v":0.0103168437},null,"Mortgage Amount",{"$f":"P3*P11","v":9100000}]
["Total Revenue",{"$f":"SUM(B12:B13)","v":3733014},1.0,{"$f":"SUM(D12:D13)","v":4340751},1.0,{"$f":"SUM(F12:F13)","v":4620708.8},1.0,{"$f":"SUM(H12:H13)","v":4879808.65},1.0,{"$f":"SUM(J12:J13)","v":4967469.5},1.0,{"$f":"SUM(L12:L13)","v":5055131.35},1.0,null,"Interest Rate","7.50%"]
["DEPARTMENTAL EXPENSES",{"$nulls":13},"Amortization",25.0]
["Room Expense",{"$f":"B14*C16","v":721591.6062},0.1933,{"$f":"D14*E16","v":839067.1683},0.1933,{"$f":"F14*G16","v":893183.011},0.1933,{"$f":"H14*I16","v":943267.012},0.1933,{"$f":"J14*K16","v":960211.8544},0.1933,{"$f":"L14*M16","v":977156.89},0.1933,null,"Annual Debt Service",{"$f":"PMT(P14/12, P15*12, P13)*12","v":-806978.3662}]
["Other Expense",{"$f":"B14*C17","v":167985.63},0.045,{"$f":"D14*E17","v":195333.795},0.045,{"$f":"F14*G17","v":207931.896},0.045,{"$f":"H14*I17","v":219591.3893},0.045,{"$f":"J14*K17","v":223536.1275},0.045,{"$f":"L14*M17","v":227480.9108},0.045]
["Total Departmental Expenses",{"$f":"SUM(B16:B17)","v":889577.2362},{"$f":"C16+C17","v":0.2383},915379.0,0.2383,954724.0,0.2383,988950.0,0.2383,1006716.0,0.2383,1024481.0,0.2383]
["UNDISTRIBUTED OPERATING EXPENSES"]
["Administrative & General",{"$f":"B$14*C20","v":156039.9852},0.0418,{"$f":"D$14*E20","v":181443.3918},0.0418,{"$f":"F$14*G20","v":193145.6278},0.0418,{"$f":"H$14*I20","v":203976.0016},0.0418,{"$f":"J$14*K20","v":207640.2251},0.0418,{"$f":"L$14*M20","v":211304.4904},0.0418]
["Sales & Marketing",134388.504,0.036,156267.036,0.036,166345.5168,0.036,175673.1114,0.036,178828.902,0.036,181984.7286,0.036]
["Utilities",148947.2586,0.0399,173195.9649,0.0399,184366.2811,0.0399,194704.3651,0.0399,198202.0331,0.0399,201699.7409,0.0399]
["Repairs & Maintenance",192996.8238,0.0517,224416.8267,0.0517,238890.645,0.0517,252286.1072,0.0517,256818.1732,0.0517,261350.2908,0.0517]
["Franchise Fees",376661.1126,0.1009,437981.7759,0.1009,466229.5179,0.1009,492372.6928,0.1009,501217.6726,0.1009,510062.7532,0.1009]
["Total Undistributed Operating Expenses",{"$f":"SUM(B20:B24)","v":1009033.684},{"$f":"SUM(C20:C24)","v":0.2703},{"$f":"SUM(D20:D24)","v":1173304.995},{"$f":"SUM(E20:E24)","v":0.2703},{"$f":"SUM(F20:F24)","v":1248977.589},{"$f":"SUM(G20:G24)","v":0.2703},{"$f":"SUM(H20:H24)","v":1319012.278},{"$f":"SUM(I20:I24)","v":0.2703},{"$f":"SUM(J20:J24)","v":1342707.006},{"$f":"SUM(K20:K24)","v":0.2703},{"$f":"SUM(L20:L24)","v":1366402.004},{"$f":"SUM(M20:M24)","v":0.2703}]
["FIXED EXPENSES"]
["Property Taxes & Insurance",{"$f":"B$14*C27","v":251231.8422},0.0673,{"$f":"D$14*E27","v":292132.5423},0.0673,{"$f":"F$14*G27","v":310973.7022},0.0673,{"$f":"H$14*I27","v":328411.1221},0.0673,{"$f":"J$14*K27","v":334310.6974},0.0673,{"$f":"L$14*M27","v":340210.3399},0.0673]
["Total Fixed Expenses",251231.8422,0.0673,292132.5423,0.0673,310973.7022,0.0673,328411.1221,0.0673,334310.6974,0.0673,340210.3399,0.0673]
["Total Expenses",{"$f":"SUM(B18+B25+B28)","v":2149842.763},{"$f":"B29/B$14","v":0.5759},{"$f":"SUM(D18+D25+D28)","v":2380816.538},{"$f":"D29/D$14","v":0.5484803292},{"$f":"SUM(F18+F25+F28)","v":2514675.291},{"$f":"F29/F$14","v":0.5442185171},{"$f":"SUM(H18+H25+H28)","v":2636373.4},{"$f":"H29/H$14","v":0.5402616351},{"$f":"SUM(J18+J25+J28)","v":2683733.703},{"$f":"J29/J$14","v":0.5402617375},{"$f":"SUM(L18+L25+L28)","v":2731093.344},{"$f":"L29/L$14","v":0.5402615985}]
["Net Operating Income",{"$f":"B14-B29","v":1583171.237},0.4241,{"$f":"D14-D29","v":1959934.462},0.4515196708,{"$f":"F14-F29","v":2106033.509},0.4557814829,{"$f":"H14-H29","v":2243435.25},0.4597383649,{"$f":"J14-J29","v":2283735.797},0.4597382625,{"$f":"L14-L29","v":2324038.006},0.4597384015]
["VALUATION & RETURNS"]
["Projected Revenue Change",null,null,0.029,null,0.043,null,0.0358,null,0.018,null,0.0176]
["Cap Rate",null,null,{"$f":"D30/$P$3","v":0.1507641894},null,{"$f":"F30/$P$3","v":0.1620025776},null,{"$f":"H30/$P$3","v":0.1725719423},null,{"$f":"J30/$P$3","v":0.1756719844},null,{"$f":"L30/$P$3","v":0.1787721543}]
["Project Cap Rate",0.0758,null,{"$f":"D30/$P$5","v":0.1504748148},null,{"$f":"F30/$P$5","v":0.1616916322},null,{"$f":"H30/$P$5","v":0.1722407102},null,{"$f":"J30/$P$5","v":0.1753348021},null,{"$f":"L30/$P$5","v":0.1784290216}]
["Room Revenue Multiplier",{"$f":"$P$3/B12","v":3.525203852},null,{"$f":"$P$3/D12","v":3.027373041},null,{"$f":"$P$3/F12","v":2.843328157},null,{"$f":"$P$3/H12","v":2.691809743},null,{"$f":"$P$3/J12","v":2.644307218},null,{"$f":"$P$3/L12","v":2.59845218}]
["Project RRM",{"$f":"$P$5/B12","v":3.53198309},null,{"$f":"$P$5/D12","v":3.033194913},null,{"$f":"$P$5/F12","v":2.848796095},null,{"$f":"$P$5/H12","v":2.696986301},null,{"$f":"$P$5/J12","v":2.649392425},null,{"$f":"$P$5/L12","v":2.603449203}]
["Annual Debt Service",-746455.0,null,{"$f":"$P$16","v":-806978.3662},null,{"$f":"$P$16","v":-806978.3662},null,{"$f":"$P$16","v":-806978.3662},null,{"$f":"$P$16","v":-806978.3662},null,{"$f":"$P$16","v":-806978.3662}]
["Annual Cash Flow After Debt",{"$f":"B30+B37","v":836716.2374},null,{"$f":"D30+D37","v":1152956.096},null,{"$f":"F30+F37","v":1299055.143},null,{"$f":"H30+H37","v":1436456.884},null,{"$f":"J30+J37","v":1476757.431},null,{"$f":"L30+L37","v":1517059.64}]