ALSD DESIGN-BUILD FORUM MAN AGING A RENOVATION: HOW TO MAXIMIZE - - PowerPoint PPT Presentation

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Sep 18, 2022 444 likes •615 views

ALSD DESIGN-BUILD FORUM MAN AGING A RENOVATION: HOW TO MAXIMIZE VALUE AND MITIGATE RISK July 10, 2017 ASSOCIATION OF LUXURY SUITE DIRECTORS Panelists Chris Bryan Jason Anton Ryan Sales & Moderator Market & CM Architectur

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ALSD DESIGN-BUILD FORUM

MAN AGING A RENOVATION: HOW TO MAXIMIZE VALUE AND MITIGATE RISK July 10, 2017

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Panelists

Chris Bryan Jason Anton Ryan Moderator Market & Financial CM Architectur e Sales & Service

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Philips Arena

STACKED SUITES, HUH?

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Philips Arena

FEWER SEATS BUT MORE REVENUE

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United Center

SUITE CONVERSIONS

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Amalie Arena & Coors Field

REPURPOSING UNDER-UTILIZED SPACES

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Philips Arena & Target Center

FINDING THE RIGHT MIX

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Real Estate Utilization

$2,900 $2,500 $1,300 $789 $500 $450 $400 $350 $350 $275 $155 $84 $65 $62 $61 $41

$0.00 $500.00 $1,000.00 $1,500.00 $2,000.00 $2,500.00 $3,000.00

100 - Hollywood A 100 - Hollywood B 100 - B 100 - C 100 - Boeing Club 100 - Sideline Lower 100 - Kia Club 100 - Sideline / End 100 - Corner 100 - Corner / End 200 - Sideline 1 200 - End 300 - Sideline 1 300 - Sideline 2 200 - Bank of America Club 200 - End / Corner

Gate Receipt Revenue per Square Foot

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Amalie Arena

FIXING THE TRADITIONAL 200-LEVEL CLUB SEAT

Courtesy Generator Studio

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Nationwide Arena & HR Stadium

DIFFERENT FITS FOR DIFFERENT MARKETS

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Project Implications

Size: 1,750 SQ FT $112,000 Project Cost: $3,000,000 Year Introduced: 2019 $55,000 Adjusted Cost: $3,278,181 $150,000 Seats Displaced: 250 $100,000 Seats Gained: $25,000 Conservative Moderate Aggressive 2019 $87.00 3% 65% 70% 75% 2020 $89.61 3% 70% 75% 80% 2021 $92.30 3% 75% 80% 85% 2022 $95.99 4% 75% 80% 85% 2023 $99.83 4% 75% 80% 85% 2024 $104.82 5% 75% 80% 85% 2025 $110.06 5% 75% 80% 85% 2026 $115.57 5% 75% 80% 85% 2027 $121.34 5% 75% 80% 85% 2028 $127.41 5% 75% 80% 85% Goal for Return Conservative Moderate Aggressive N/A $290,000 $330,000 $370,000 N/A 4.88 4.34 3.88 N/A 22% 25% 27% 5% $2,980,750 $3,588,932 $4,197,114 Break-Even Fulfillment 63% 63% 63% Net Present Value Rate of Return Payback Net Cash Flow Gross Revenue Affected: Incremental Revenue: Gate Receipts: F&B: 250 Year Financial Metrics Financial Profile: Club Seat Reconfiguration Fulfillment Price Growth Ticket Price Sponsorship: Parking:

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