Panorama Resort
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Transcript of Panorama Resort
Condo hotels are not your typical vacation homes. They are exquisitely furnished condominium suites
in ultra-luxurious hotels and resorts. Most properties are usually of four- or five-star quality. Condo hotels offer you the opportunity to own a
luxury vacation home at a world-class resort and to receive rent revenue when you're not using it. As a
condo hotel unit owner, you have the option of putting your condo unit into the hotel's rental
program, when you're not in residence. This is what makes the condo hotel concept so attractive.
By capitalizing on a hotel's name recognition, advertising and management expertise, you can expect to receive a higher level of rental income
than you would from a traditional vacation home. In addition, the on-site management company will take care of all maintenance of the property and ensure
the smooth operation of its many amenities and services.
Panorama Resort and Condominium is a landmark project and is located on a hillside above the city of
Yerevan with unobstructed, panoramic view of Mount Ararat and the city.
Areal View of City of Yerevan
PROPERTY FEATURES
5 Stories 72 Luxury Units (from 900 sq.ft. to 1,600 sq.ft.) 8 Luxury Penthouses (from 2200 sq.ft. to 3300 sq.ft.) 82 Parking Spaces Full Kitchen with Appliances Living and Dining Rooms Dry Cleaning Services In-unit Washer and Dryer All-Season Heated Swimming Pool Banquet / Conference Room / Business Center Fitness and Sports Center, Spa, Sauna 24-hr Armed Security Video Surveillance Concierge and Maid Service Secured Access to Individual Buildings Restaurant, Convenience Market Satellite TV and High-Speed WiFi Internet Entertainment and Video Game Systems Independent Power Generator and Water Reservoir
Nvard Gevorkyan
Optional Finishing Packages
•Silver •Gold
•Platinum
THE REGULAR RATES OF METROPOL
Room type Apr 01 - Nov 15 Jan 01 - Mar 31 Nov 16 - Dec 31
Deluxe Single $ 152 $ 100
Deluxe Double $ 173 $ 111
Junior Suite $ 193 $ 155
Senior Suite $ 207 $ 166
THE REGULAR RATES OF ARARAT HOTEL
Room type Regular Rates
Single $ 137
Double $ 137
Premiere $ 155
Superior $ 193
Family Suite $ 286
Executive Suite $ 385
Ararat Suite $ 633
THE GOLDEN PALACE HOTEL'S REGULAR RATES
Room type Apr 01 - Nov 15 Jan 01 - Mar 31Nov 15 - Dec 31
Deluxe $ 193 $ 149
Diplomatic Room $ 292 $ 232
Ambassador Suite $ 651
Presidential Suite $ 2204
ARMENIA MARRIOTT HOTEL'S REGULAR RATES
Room type Jan 01 - Mar 20Nov 01 - Dec 31
Jul 15 - Aug 15Mar 21 - May 20
May 21 – Jul 14Aug 16 – Sep
12Oct 01 – Oct 31
Sep 12 –Sep 30
Single Deluxe $ 179 $ 199 $ 238 $ 295
Deluxe $ 199 $ 219 $ 258 $ 295
Superior Deluxe $ 232 $ 252 $ 291 $ 328
Executive Deluxe $ 255 $ 275 $ 315 $ 351
Junior Suite $ 579
Vice Presidential $ 876
Presidential Suite $ 1604
THE REGULAR RATES OF ANI PLAZA HOTEL
Room type Apr 01 - Oct 31 Jan 01 - Mar 31Nov 01 - Dec 31
Economy Single $ 105 $ 89
Premium Single $ 113 $ 97
Economy Twin $ 127 $ 105
Premium Twin $ 141 $ 119
Business Single $ 160 $ 149
Business Premium Single $ 174 $ 158
Business Double $ 193 $ 180
Suite $ 254 $ 237
Average hotel Suite rate is $ 175 a day.Average stay in Armenia is 2 weeks.
Suggested rate for Panorama Resort during the peak season
for 900 sq. ft., 2 bedroom, 2 bathroomWith a living room full kitchen and access to
all features of the complexthat accommodates 4 people
for 2 weeks is $ 1,000
Cost of 350 sq. ft. hotel suite in Yerevan with1 bathroom that accommodates2 people for 2 weeks is $ 2,000.$ 2,500.
$ 1,500.00
Example
Unit Size Starting Price per Sq. Ft.1100 sq. ft. X $150.00* = $165,000
1st Payment: 15% = $24,7502nd Payment: (Due by December 31, 2011) : 15% = $24,750
Balance: Option A – Lump Sum of $115,500 (Due In 6 Months)
Option B – Financing
8% at 15 Year Amortization Period - $1,100.00
*Prices are subject to change according to the completion schedule
Monthly payment for $115,500 loan = $1,100
HOA monthly dues - $125
Utilities (water, gas, electricity) - $50
Total - $1,275 x 12 months = $15,300
Projected Annual Expenses of a Condo Unit
Annual Potential Income60% occupancy ratio=7 month occupancy x $3000 = $21,000
Annual income increase projection: Total1st year – Base rent $21,000 - $15,300 = $5,700
2nd year – 7% increase in rents = $22,500 - $15,300 = $7,200 $12,900
3rd year – 7% increase in rents = $24,200 - $15,600 = $8,600 $21,500
4th year – 7% increase in rents = $26,000 - $15,600 = $10,400 $31,900
5th year – 7% increase in rents = $28,000 - $15,900 = $12,100 $44,000
6th year – 5% increase in rents = $30,000 - $15,900 = $14,100 $58,100
7th year – 5% increase in rents = $32,000 - $16,200 = $15,800 $73,900
8th year – 5% increase in rents = $33,700 - $16,200 = $17,500 $91,400
9th year – 5% increase in rents = $35,500 - $16,200 = $19,300 $110,700
10th year – 5% increase in rents = $37,400 - $16,400 = $21,000 $131700
11th year – 5% increase in rents = $39,300 - $16,400 = $22,900 $154,600
12th year – 5% increase in rents = $41,400 - $16,400 = $25,000 $179,600
13th year – 5% increase in rents = $43,600 - $16,600 = $27,000 $206,600
14th year – 5% increase in rents = $45,900 - $16,600 = $29,300 $235,900
15th year – 5% increase in rents = $48,300 - $16,600 = $31,700 $267,600
16th year – 5% increase in rents = $50,850 - $3,400 = $47,450 $315,050
Real Estate Increase in Value Projection 1st year – Purchase price $165,500
2nd year – 5% Increase in rents = $173,000
3rd year – 5% Increase in rents = $182,200
4th year – 5% Increase in rents = $192,000
5th year – 5% Increase in rents = $202,000
6th year – 5% Increase in rents = $212,000
7th year – 5% Increase in rents = $223,000
8th year – 5% Increase in rents = $234,000
9th year – 5% Increase in rents = $246,000
10th year – 5% Increase in rents = $258,000
11th year – 5% Increase in rents = $272,000
12th year – 5% Increase in rents = $286,000
13th year – 5% Increase in rents = $301,000
14th year – 5% Increase in rents = $316,000
15th year – 5% Increase in rents = $332,000
16th year – 5% Increase in rents = $350,000