Splash canyon water park power point (ver 2)
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Transcript of Splash canyon water park power point (ver 2)
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Splash Canyon
Temecula Family Water Park
Prepared By:Brian Nichols & Eva Landa
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Why does this project make sense?• The City of Temecula is committed to building…
A freeway offramp leading right to Splash Canyon’s “Front Door”
• The average Wild Rivers Waterpark investor realized… A 25% annualized return over a 24 yr. period See PPM for more information. **(investments are not guaranteed, involve possible risk of loss, including possible loss of principal).
• The Wild Rivers Waterpark management team will bring… 24 years of expertise & profitable management to Splash Canyon.
• Wild Rivers Waterpark (Irvine, CA) has been… profitable every year since its opening in 1986.
• 2009 saw 400,000 visitors enjoy Wild Rivers Waterpark… Temecula Valley’s Splash Canyon demographics are very similar.
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Temecula Valley Demographics = Orange County East?
Demographics:
2008 estimated avg. family H.H. income = $98,089
Median age = 30.62
2008 est. household size 3.25 persons
Avg. Summer temperature mid 80’s to mid 90 degree range
Southwest Riverside County Trade Area in 2008 = 435,654 people
2007 Taxable Retail Sales - $2.60 billion
**City of Temecula Demographics Report (Claritas, April 2008)
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This project makes sense!
• Wild Rivers had over 400,000 guests last season, (2009).
• Wild Rivers generated revenue of over $10mm Between the end of May 2009 & the beginning of September 2009(approx. 4 months).
• Splash Canyon is expected to generate comparable revenue & profit to that of Wild Rivers from day one!
The Wild Rivers business model is the Splash Canyon business model.
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Assumptions: Splash CanyonAdmission Fee:
– $31.98 General Admission
– $19.98 Junior Admission
– $10.00 Parking
• 60% of Splash Canyon attendees will qualify for Jr. Admission price.
• 40% of Splash Canyon attendees will qualify for General Admission price.
• Parking requirement (per car) is estimated at approximately 25% of total season guest attendance (400,000 guests x 25% = 100,000 cars).
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Do The Math!Splash CanyonAdmission Fee:
– $31.98 General Admission– $19.98 Junior Admission– $10.00 Parking
– 60% of 400,000 guests = 240,000 paid Jr. Admissions x 19.98 = $4,795,200– 40% of 400,000 guests = 160,000 paid General Admissions x $31.98 = $5,116,800 – Parking Fee: 100,000 cars @ $10.00 each = $1,000,000
Total Estimated Revenue (per season) = $10,912,000
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Group Expertise
The same Splash Canyon Temecula team successfully built & profitably ran Wild Rivers Irvine, since 1986.
*******************************************************************************************
The Wild Rivers management team
is the Splash Canyon management team
*******************************************************************************************
Combined, this management team’s expertise spans… more than 24 years of success in the waterpark business.
Wild Rivers has been profitable each year since it’s opening in 1986.
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“In Place” Project Components
• Permits
• Approved plans
• Land (sale approved & in escrow w/ City of Temecula)
• Seasoned & successful management team
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Must Haves…
• Land purchase funding: (sale pending, in escrow)
• Construction project funding
• Equity investors
• Conventional financing
* prior secured funding was committed to by Vineyard National Bank now in receivership by FDIC
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Planned Utilization of Resources
• Total Project Cost: $23.8 Million
• Current Project Equity $10 Million
• Project Financing Requirement: $14 Million
• Land Cost: $5.7 Million• Total Hard Cost: $17 Million• Total Soft Cost: (working capital, misc. costs/fees, etc.): $1.1Million
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Win / Win• Documentable History of
25% avg. annualized return to investors (investments are not guaranteed, involve possible risk of loss, including possible loss of principal).
• Tax revenue Increase to city through utilization of Temecula amenities
• 400,000 estimated guests per season will bring benefit to local business by utilization of local amenities:– Dining – Shopping – Old Town – Casino – Wineries – Hotels– etc.
• Outgrowth Development: – Park Job creation (seasonal & full time)– Construction (jobs)– Revenue growth to surrounding
businesses (restaurants, shopping mall, hotels, casino, golf)
– Wine Country, (wine tasting, dining)– etc.
• Exceptional safety & incident record (only 4 reportable incidents in entire 2009 season of over 400,000 guests)
• Youth Development & Training Programs:– Red Cross approved– Life Saving– Life Guard– First Aide / CPR– Job experience in a responsible
environment.
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How can we expedite project completion?
Help Make it happen.
We need…• Equity partnerships…• Equity partners help supplement project funding.• Equity investor dollars fund all or a portion of project cost in exchange
for estimated high rates of return, (see PPM for specific details).**(investments are not guaranteed, involve possible risk of loss, including possible loss of principal).
• Capital investment in land purchase may aid construction funding…• Equity Value of acquired land may collateralize funding of project cost.• Utilization of equity collateral may help obtain multi-bank participation &
help fund a portion of construction cost.
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The Bottom Line…With your help, the Splash Canyon project will happen;
Without your help the project may also happen, but over a prolonged period.
What does helping us provide to you?
• The revenue from 400,000 guests spending money in Temecula will strengthen & support… a successful business community and a stronger Temecula economy.
• The potential & opportunity to generate historically significant investment returns… from a documented & historically proven, success story, **(investments are not guaranteed, involve possible risk of loss, including possible loss of principal).
• High profile cross promotional opportunities for involved businesses and equity participants…will generate new business opportunities & increase revenue for same.
• Splash Canyon’s family theme park attraction in Temecula Valley…will further develop Temecula as a destination location.
Your help is our preferred approach to success.
Thank you,
Waterpark Ventures, LLCEvan Gentry * (949) 545 - 6998 * (949) 412 - 8468