best and final offer matrix - curacao marriott - 22 sept 2015
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8/20/2019 Best and Final Offer Matrix - Curacao Marriott - 22 Sept 2015
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Purchase Price
Target Closing Date
Total Capitalization
Source of Equity
Permits required for renovation
Survivability
Holdback / demnify Cap
T!res!old "mount
Summary of Capital Plan
Capital Plan Timeline
Best and Final Ofer Matrix-Curaҫao MarriottGroup
Soft Deposit #to be posted upon e$ecution of t!e Purc!aseand Sale "greement%
Hard Deposit #to be posted at completion of t!e due diligenceperiod%
Due Diligence Period #days%
Closing Period #days%
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Employment &vervie'
(etter from )arriott Con*rming "pproval as +uyer,
Proo o Funds?
-eference .
-eference .0
+uyer must comply 'it! t!e )arriott PP
Transaction 'ill be an all cas! closing
T!e purc!ase and sale contract may not be transferred to an una*lliated entity
T!e sale 'ill not be contingent upon t!e buyer obtaining any ta$ !olidays ore$emptions
Seller s!all !ave no obligation to assist 'it! t!e approval of break'ater or beac!improvements
T!e transaction is as is / '!ere is1 T!ere 'ill be no representations or 'arranties'it! regard to t!e p!ysical condition of t!e property
+uyer must satisfy itself regarding t!e necessary licensing and applicationprocess
"ll cas! in t!e resort2s bank accounts and reserve accounts 'ill remain 'it! t!eseller
T!e sale is sub3ect to )arriot2s rig!t of *rst refusal and t!e timing of t!e sale 'illbe sub3ect to )arriott 'aiving t!eir rig!t of *rst refusal
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L
45667666
40567666
86 days
86 days follo'ing end of due diligence
0/09/065
456:455 million7 varying depending upon Seller2s c!oice of acquisition price
( funds
Si$ mont!s
45667666
4057666
"t Seller2s option #a% 4576667666 or #b% 4;75667666 'it! 4+eac! repair7
>"dditional parking and access points7>Detailed pro3ect costs 'ill be developed post closing1
>Design and development process to commence inmediately upon closing7>-enovations to be completed by 065/06; 'inter season7
>Detailed timeline provided via email
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8/20/2019 Best and Final Offer Matrix - Curacao Marriott - 22 Sept 2015
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?es
Yes (Citi Ban!
?es
?es
?es
?es
?es
?es
?es
?es
?es
>-enovation and e$pansion of !otel e$pected to employ 056 'orkers7>Completed !otel e$pected to employ 566
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8/20/2019 Best and Final Offer Matrix - Curacao Marriott - 22 Sept 2015
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G
4
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8/20/2019 Best and Final Offer Matrix - Curacao Marriott - 22 Sept 2015
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?es
G "ould lie to discuss
A 'ould like to discuss
A 'ould like to discuss
o
o
o
o
o
o
o
o
o
>&utside of casino operation7 does not e$pect to materially alter t!e number of BTE2s7 >it!regard to t!e Casino operation7 it is A preference to remove )arriott as operatorand bring in a 8rd party operator to take over t!e outlet1 T!is 'ouldresult in termination of all employees allocated to t!e casino and A 'ould not becertain as to t!e !iring process of t!e ne' 8rd party operator1
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O
4
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8/20/2019 Best and Final Offer Matrix - Curacao Marriott - 22 Sept 2015
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n t!e process of obtaining#one su$%itted
ill submit once status of oFer is con*rmed
ill submit once status of oFer is con*rmed
?es
?es
o7 but 'ill acquire t!e !olding company7 '!ic! !as signi*cant losses1
?es
?es
?es7 but needs to perform an inspection for asbestos
?es
?es
?es
>"fter full renovation7 Hotel 'ill employ 05 !otel employees and Bull breakdo'n provided1