Академический Документы
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YILAN, TAIWAN
JANUARY 2010
Property Information
two fitness centres and 26,000 square ft. spa managed by Banyan Trees
Angsana Spa, 44 oriental and family hot spring houses, as well as a 17,800
square ft. outdoor hot spring pool and an indoor heated swimming pool.
The Resort features 5 separate blocks: The Main Hotel, Hot Springs,
Resort, Villa, and the Administrative block1. Each block is catered towards
different customer groups, and is designed with the appropriate facilities.
Block
Purpose
Hotel
Family Vacation,
Meetings &
Conventions
90
Hot Springs
---
Resort
Couples Retreat
65
Villa
Provides privacy
and exclusiveness
27
The blocks can be roughly grouped into 2 zones, with Zone 2 being more
family friendly, while Zone 1 is geared towards adults and commands
premium prices.
The site covers approximately 1 million sq. ft. on a hilltop and has a GFA
of 510,000 sq. ft.. Due to its high altitude of 200 to 280 meters above sealevel, the Property offers unobstructed panoramic views of the Yilan
Plains, Pacific Ocean, and the surrounding landscapes and tea plantations.
The Property will be branded as a Sheraton franchised hotel, utilising the
Sheraton name, logo, reservation systems, marketing programs, as well as
operating procedures.
The hotel interior is designed by Hong Kong designer John Chan who
specializes in hotel interiors and whose previous assignments include
Grand Hyatt Taipei, Grand Hyatt Hong Kong, Sheraton Hong Kong, St.
Regis International Club Beijing and many other hotels in China.
Business Plan
The Sheraton Yilan Resort will provide 182 spacious guest rooms and
suites (ranging from 360 sq. ft. to 3384 sq. ft.) all enjoying beautiful views
from private balconies. It will also feature over 10,000 square ft. of highly
flexible meeting and function space, eight dining and entertainment outlets,
CONFIDENTIAL INFORMATION MEMORANDUM
The construction of the Hotel commenced in Nov 2007 and has since
finished the construction of the majority of structural works in July 2008.
The final completion of the interior and exterior of the Project is
estimated early 2010.
The Resort features a top-notch design team, which includes renowned
architect firm I-Connect Architect & Associates and interior fit-out firm
Dynasty Design Corp. Leeming, one of the largest construction
companies in Taiwan, is contracted to build the Resort.
1
Administrative Block is for back office use only. Hotel guests are off limits.
NT$6,800 for the past 2 years. The Resorts hotel block targets similar
customers, and thus comparable results can be reasonably expected.
Lalu Resort at Sun Moon Lake, which Zone 1 of the Resort is
benchmarked to, has averaged an outstanding 81% occupancy rate with an
excellent NT$10,119 avg. room rate.
5 more hotels/resorts are scheduled to open within the next few years.
The clustering effect shall further enhance Yilans image as a major tourist
destination.
Sponsor
Expected soft opening early 2010 and grand opening in May 2010. The
resort would be operated under a management agreement with Starwood
Hotels & Resorts under the Sheraton brand and has an initial term of 10
years from the opening with 2 renewal options of 5 years each.
The general manager appointed by Sheraton will be principally responsible
for the operation of the hotel and the senior managers will be appointed
by the general manager as well as the board of Skyline. In August 2008, an
experienced GM candidate was recruited and commenced September,
2008.
With such world-class facilities and management, the Resort features
premium room rates, ranging from NT$7,000/night for a standard room
up to NT$88,000/night for the Presidential suite.
Banyan Tree Hotels & Resorts will operate the SPA facility in the resort as
a world-class spa facility and conduct operations under the Angsana Spa
brand for an initial term of 15 years.
Angsana Spa is Banyan Trees first resort spa and first non-exclusive, opento-general public spa in Taiwan. Banyan Tree views this as a value-added
service to the hotel and hotel guests. A total of 12 treatment rooms are
planned.
Angsana Spa Yilan features exclusive hot springs treatment packages, not
found in any other Banyan Tree Spa worldwide.
Location / Market
The site is located on a rural hilltop, against a mountainous backdrop in
Yilan County on the northeast coast of Taiwan. It is 60 kilometers from
Taipei and around 70 minutes drive via the Taipei-Yilan tunnel.
Transaction Merits
The only international-brand resort hotel in Taiwan operated by highly
experienced operators: this Property represents Starwoods fourth hotel in
Taiwan and Banyan Trees second spa management contract in Taiwan.
Rare location advantages: located only 60 kilometers away from Taipei, the
Property is easily accessible after the opening of Taipei-Yilan Highway.
The Property is situated in an exclusive, scenic and attractive location with
numerous scenic attractions within a 20-minute radius in Yilan county.
Strong leisure traveller demand for resort hotels in Taiwan, especially after
the recent liberalisation of China tourists visit and charter flights
permitting influx of mainland tourists for the first time in large number.
Low development risk: the resort is being constructed by reputable
contractor and the majority of structural works works completed in 2008
with final completion and opening scheduled for late 2010.
Sheraton Yilan Resort
Development Costs
Amount USD$
Description
Land cost
$25,227,276
23.43%
Structural works
$24,367,395
22.63%
Interior furbishing
$16,841,360
15.64%
$17,219,462
15.99%
$4,225,261
3.92%
Landscaping
$3,207,556
2.98%
Planning design
$3,025,427
2.81%
$4,820,871
4.48%
$863,573
0.80%
$3,527,512
3.28%
Grading
$1,434,878
1.33%
Project management
$2,916,827
2.71%
USD$107,677,399
100.00%
Total