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Real Estate Development Key Steps Hotel Projects GESIIC, Pantheon-Sorbonne, Paris January 25 th, 2013 Yilmaz KARAUC Global Project Management.

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Presentation on theme: "Real Estate Development Key Steps Hotel Projects GESIIC, Pantheon-Sorbonne, Paris January 25 th, 2013 Yilmaz KARAUC Global Project Management."— Presentation transcript:

1 Real Estate Development Key Steps Hotel Projects GESIIC, Pantheon-Sorbonne, Paris January 25 th, 2013 Yilmaz KARAUC Global Project Management

2 2 REAL ESTATE DEVELOPMENT PROCESS – KEY STEPS AGENDA Key Points Overview of a development project key steps as Developer Existing & Take-over projects key steps as Developer Project Structures in following cases: –Hotel Operator is the Developer –Hotel Operator leases or acquires after Completion –Hotel Operator is only Hotel Manager Questions

3 3 Key Points In Real Estate Development Process the followings are crucial: –Sequential process –Deliverables –Internal Validations –Accountability –Program Optimization –Cost Certainty in order to ensure project completion: –within the Budget & Time –and in compliance with the Product and Technical Guidelines.

4 4 Overview Of A Development Project Key Steps Steps Content Key Steps Project Detailed Program & Preliminary Studies 2 1.Program analysis & optimization 2.Detailed Hotel Program 3.Base building Schematic Design 4.Interior Design Brief 5.List of proposed interior designers 6.Project Structure 7.Updated project cost plan & time frame Program Committee 1.Project Delivery validation 2.Pre-opening phase 3.Hotel opening Project Delivery & Hotel Opening 5 Hotel Opening Project Works Execution & Follow-up 4 1.Design Development 2.Tender file 3.Tender for works 4.Beginning of Works 5.Execution studies 6.Mock up room 7.Execution of works 8.FF&E integration Mock up Room Handover Project Assessment & Feasibility Analysis 1.Pre feasibility & Market overview 2.Preliminary Cost Plan 3.Site identification 4.Concept Design 5.Techn. Feasibility & Constructability Study (Technical File) 6.Initial Cost Plan 7.Business Plan 1 Development / Investment Committee Project Final Program & Detailed Studies 1.Final version of the Program 2.Detailed Interior Design & Landscape drawings 3.Final Project Budget 4.Project time schedule. Program Committee 3 Tender

5 Existing & Take Over Project Key Steps Steps Content Key Steps Project Detailed Program & Preliminary Studies 2 1.Agreement for Acquisition 2.Program analysis & optimization 3.Detailed Hotel Program 4.Base building Schematic Design 5.Interior Design Brief 6.List of proposed interior designers 7.Project Structure 8.Updated project cost plan & time frame Program Committee 1.Project Delivery validation 2.Pre-opening phase 3.Hotel opening Project Delivery & Hotel Opening 5 Hotel Opening Project Works Execution & Follow-up 4 1.Design Development 2.Tender file 3.Tender for works 4.Beginning of Works 5.Execution studies 6.Contractor Mock up room 7.Execution of works 8.FF&E integration Mock up Room Handover Project Assessment (DD & PIP) & Feasibility Analysis 1.Pre feasibility & Market overview 2.Site Identification 3.Preliminary Business Plan 4.MoU / Due Dilig. 5.Property Improvement Plan 6.Concept Design 7.Techn. Feasibility & Constructability Study (Tech. File) 8.Initial Cost Plan 9.Business Plan 1 Development / Investment Committee Project Final Program & Detailed Studies 1.Work Permit & Acquisition 2.Final version of the Program 3.Detailed Interior Design & Landscape drawings 4.Concept Mock up Room 5.Final Project Budget 6.Project time schedule. Program Committee 3 Tender

6 6 HOTEL OPERATOR IS THE DEVELOPPER Project Structure

7 Hotel Financing, Development & Operating Proposed International Scheme HOTEL GROUP WORLDWIDE LOCAL HOTEL INVEST. & OPERATING CO. LOCAL HOTEL INVEST. & OPERATING CO. 100% LOCAL HOTEL OPERATING & DEVELOPMENT JOINT-VENTURE CO. LOCAL HOTEL OPERATING & DEVELOPMENT JOINT-VENTURE CO. LOCAL PARTNER INVEST. & DEVELOPMENT CO. LOCAL PARTNER INVEST. & DEVELOPMENT CO. 51% 49% HOTEL Prop Co HOTEL Prop Co HOTEL Prop Co HOTEL Prop Co HOTEL Prop Co HOTEL Prop Co HOTEL Op Co HOTEL Op Co HOTEL Op Co HOTEL Op Co HOTEL Op Co HOTEL Op Co 100% Lease Contracts Management Contract Licencing Agreement Technical Assistance 100% LOCAL BANK Loans Agreement LOCAL BANK Loans Agreement 35 / 65 (equity / debt) Construction Contracts Asset Management

8 8 HOTEL OPERATOR LEASES / ACQUIRES AFTER COMPLETION Project Structure

9 9 HOTEL OPERATOR LEASES AFTER COMPLETION Proposed Lease Structure

10 10 HOTEL OPERATOR IS ONLY HOTEL MANAGER Project Structure

11 11 END THANK YOU Contact : Yilmaz KARAUC ykarauc@hotmail.com


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