EstudodeCaso Hotel Ilha Do Sol

ESTUDO DE CASO - HOTEL ILHA DO SOL DEMONSTRAO DO RESULTADO SINTTICA DEPTOS OPERACIONAIS RECEITAS Hospedagem Alimentos & Bebidas Outros Departamentos Operacionais (-) CUSTOS E DEPESAS OPERACIONAIS Hospedagem Alimentos & Bebidas Outros Deptos Operacionais (=) MARGEM OPERACIONAL BRUTA (-) DESP. OPERACIONAIS NO DISTRIBUDAS Administrao e Geral Marketing, Vendas e Franquia Patrimnio Operacional & Manuteno Utilidades (=) RESULTADO OPERACIONAL BRUTO (-) Taxa de Administrao (=) RESULTADO ANTES DOS ENCARGOS FIXOS (-) DESPESAS FIXAS (=) RESULTADO OPERACIONAL LQUIDO AJUSTADO (-) Depreciao e Amortizao (=) LUCRO ANTES DO IMPOSTO DE RENDA (LAIR) (-) Imposto de Renda e Contribuio Social RESULTADO LQUIDO

Ano 1 8,860,740.00 6,262,305.00 2,379,982.50 218,452.50 (3,120,087.49) (1,469,737.50) (1,645,980.94) (4,369.05) 5,740,652.51 (2,300,000.00) (900,000.00) (280,000.00) (400,000.00) (720,000.00) 3,440,652.51 (585,378.10) 2,855,274.41 (80,000.00) 2,775,274.41 (660,000.00) 2,115,274.41 (719,193) 1,396,081.11 16%

Ano 2 9,569,993.40 6,881,943.60 2,447,982.00 240,067.80 (3,151,494.61) (1,473,570.00) (1,673,123.25) (4,801.36) 6,418,498.79 (2,300,000.00) (900,000.00) (280,000.00) (400,000.00) (720,000.00) 4,118,498.79 (664,429.67) 3,454,069.12 (80,000.00) 3,374,069.12 (660,000.00) 2,714,069.12 (922,784) 1,791,285.62 19% Ano 2 1,791,285.62 660,000.00 (132,000.00) (21,277.60) 2,298,008.02 2

FLUXO DE CAIXA RESULTADO LQUIDO + DEPRECIAO - CAPEX - INVESTIMENTO EM CAPITAL DE GIRO - INVESTIMENTO INICIAL FLUXO DE CAIXA Perodo (n) Taxa de Desconto 10%

Ano 0

Ano 1 1,396,081.11 660,000.00 (132,000.00) (265,822.20)

(16,500,000) (16,500,000.00) 0

1,658,258.91 1

Fluxo de Caixa (1+i)n Fluxo de Caixa (1+i)n

(16,500,000.00) (1 + 0,10)0 (16,500,000.00) 1.000 (16,500,000.00)

1,658,258.91 (1 + 0,10)1 1,658,258.91 1.100 1,507,508.10

2,298,008.02 (1 + 0,10)2 2,298,008.02 1.210 1,899,180.18

Valor Presente Lquido (VPL)

17,812,925.40 Ano 1 Ano 2

PREMISSAS DE HOSPEDAGEM Nmero de UHS Taxa de Ocupao Diria Mdia Taxa de Ocupao Mltipla Impostos s/ Receita de Hospedagem Nmero de Funcionrios Hospedagem Salrio Mdio Encargos Benefcios Amenities Decorao Material de Limpeza Lavanderia (Uniforme e Roupa de Cama) Outras Despesas Operacionais PREMISSAS DE A&B Receita de Alimentos (Hspede) Receita de Bebidas (Hspede) Receita de Alimentos (Passante) Receita de Bebidas (Passante) Impostos s/ A&B Custos de Alimentos Custos de Bebidas Nmero de Funcionrios Hospedagem Salrio Mdio Encargos Benefcios Lavanderia (Toalhas e Guardanapos) Outras Despesas Operacionais PREMISSAS OUTROS DEPARTAMENTOS Receita Custo e Despesas PREMISSAS DESPESAS OPERACIONAIS Despesad c/ Administrao Geral

150 70% 190.00 1.5 14.0% 30 1,400 80.0% 10.0% 2.5 2,000 4,500 R$ 1 25,000 s/ Rec. Hospedagem por ms s/ Salrio s/ Salrio p/ UH Ocupada por ms por ms p/ UH Ocupada por ms 72% 203.00

R$ 35 R$ 10 15.0% 15.0% 20.0% 30.0% 30.0% 20 1,500 80.0% 10.0% R$ 1 1,000

p/ hspede p/ hspede Receita Alim. Hspede Receita Bebida Hspede s/ Rec. De A&B Receita Bruta Alim. Receita Bruta Bebidas. por ms s/ Salrio s/ Salrio p/ hspede por ms

3.0% s/ Receita Bruta de Hospedagem 2.0% s/ Receita de Outros Departamentos

900,000 a.a

Despesad c/ Marketing, Vendas e Franquia Despesad c/ Manuteno Despesad c/ Utilidades TAXA DE ADMINISTRAO Taxa Bsica Taxa de Incentivo DESPESAS FIXAS DEPRECIAO E AMORTIZAO IMPOSTOS S/ PESSOA JURDICA Contribuio Social s/ Lucro Lquido (CSLL) Imposto de Renda Pessoa Jurdica

280,000 a.a 400,000 a.a 720,000 a.a

3.5% s/ Receita Lquida Total 8.0% s/ Resultado Operacional Bruto 80,000 a.a 4.0% s/ Investimento Total

9.0% s/ LAIR 25.0% s/ LAIR

INVESTIMENTOS Investimento Inicial CAPEX Capital de Giro UHs Ocupadas Hspedes HOSPEDAGEM RECEITA DE HOSPEDAGEM Dirias (-) Impostos (PIS, COFINS e ISS) DESPESAS PESSOAL% Receita Lquida

110,000 p/ UH 20.0% da Depreciao 3.0% sobre Receita Lquida 38,325 57,488 Ano 1 6,262,305.00 7,281,750.00 (1,019,445.00) (957,600.00)15.3%

39,420 59,130 Ano 2 6,881,943.60 8,002,260.00 (1,120,316.40) (957,600.00)13.9%

14.0%

Salrios Encargos Benefcios OUTRAS DESPESAS% Receita Lquida

(504,000.00) (403,200.00) (50,400.00) (512,137.50)8.2%

(504,000.00) (403,200.00) (50,400.00) (515,970.00)7.5%

Amenities Decorao Suprimento de Limpeza Lavanderia Outras Despesas Operacionais Total Despesas de Hospedagem RESULTADO DE HOSPEDAGEM% Receita Lquida

(95,812.50) (24,000.00) (54,000.00) (38,325.00) (300,000.00) (1,469,737.50) 4,792,567.50-76.5%

(98,550.00) (24,000.00) (54,000.00) (39,420.00) (300,000.00) (1,473,570.00) 5,408,373.60-78.6%

ALIMENTOS e BEBIDAS RECEITA BRUTA Alimentos (Hspede) Bebidas (Hspede)

Ano 1 2,974,978.13 2,012,062.50 574,875.00

Ano 2 3,059,977.50 2,069,550.00 591,300.00

Alimentos (Passante) Bebidas (Passante) RECEITA LQUIDA DE A&B Alimentos Bebidas (-) Impostos (PIS, COFINS e ICMS) CUSTO DE VENDAS Custo de Alimentos Custo de Bebidas RESULTADO BRUTO% Receita Lquida

301,809.38 86,231.25 2,379,982.50 2,313,871.88 661,106.25 (594,995.63) (892,493.44) (694,161.56) (198,331.88) 1,487,489.0662.5%

310,432.50 88,695.00 2,447,982.00 2,379,982.50 679,995.00 (611,995.50) (917,993.25) (713,994.75) (203,998.50) 1,529,988.7562.5%

20.0%

DESPESAS PESSOAL Salrios Encargos Benefcios OUTRAS DESPESAS Lavanderia (Uniformes e Roupa de Cama) Despesas Operacionais Total de Custos e Despesas de A&B RESULTADO DE A&B% Receita Lquida de A&B

(684,000.00) (360,000.00) (288,000.00) (36,000.00) (69,487.50) (57,487.50) (12,000.00) (1,645,980.94) 734,001.5630.8%

(684,000.00) (360,000.00) (288,000.00) (36,000.00) (71,130.00) (59,130.00) (12,000.00) (1,673,123.25) 774,858.7531.7%

OUTROS DEPTOS OPERACIONAIS Receita de Outros Departamentos Custos e Despesas RESULTADO DE OUTROS DEPTOS OPERACIONAIS DESPESAS OPERACIONAIS Despesad c/ Administrao Geral Despesad c/ Marketing, Vendas e Franquia Despesad c/ Manuteno Despesad c/ Utilidades TAXA DE ADMINISTRAO Receita Lquida Total Resultado Bruto Operacional Taxa Bsica Taxa de Incentivo TOTAL TAXA DE ADMINISTRAO ALUGUEL, IMPOSTOS S/ PROPRIEDADE E SEGUROS Despesas Fixas DEPRECIAO E AMORTIZAO (-) Depreciao e Amortizao IMPOSTOS S/ PESSOA JURDICA Contribuio Social s/ Lucro Lquido (CSLL) Imposto de Renda Pessoa Jurdica

Ano 1 218,452.50 (4,369.05) 214,083.45 Ano 1 (900,000.00) (280,000.00) (400,000.00) (720,000.00) Ano 1 8,860,740.00 3,440,652.51 (310,125.90) (275,252.20) (585,378.10) Ano 1 (80,000.00) Ano 1 (660,000.00) Ano 1 (190,374.70) (528,818.60)


3.5% 8.0%

TOTAL DE IMPOSTOS S/ PJ CAPITAL DE GIRO Receita Lquida Total Capital de Giro Investimento em Capital de Giro

(719,193.30) Ano 1 3.0% 8,860,740.00 265,822.20 (265,822.20)

(922,783.50) Ano 2 9,569,993.40 287,099.80 (21,277.60)

Ano 3 10,200,905.03 7,458,734.85 2,481,981.75 260,188.43 (3,167,384.42) (1,475,486.25) (1,686,694.40) (5,203.77) 7,033,520.61 (2,300,000.00) (900,000.00) (280,000.00) (400,000.00) (720,000.00) 4,733,520.61 (735,713.33) 3,997,807.28 (80,000.00) 3,917,807.28 (660,000.00) 3,257,807.28 (1,107,654) 2,150,152.80 21% Ano 3 2,150,152.80 660,000.00 (132,000.00) (18,927.35) 2,659,225.45 3

Ano 4 11,028,566.26 8,192,790.00 2,549,981.26 285,795.00 (3,198,871.37) (1,479,318.75) (1,713,836.72) (5,715.90) 7,829,694.89 (2,300,000.00) (900,000.00) (280,000.00) (400,000.00) (720,000.00) 5,529,694.89 (828,375.41) 4,701,319.48 (80,000.00) 4,621,319.48 (660,000.00) 3,961,319.48 (1,346,849) 2,614,470.86 24% Ano 4 2,614,470.86 660,000.00 (132,000.00) (24,829.84) 3,117,641.02 4

Ano 5 11,360,778.30 8,480,950.20 2,583,981.00 295,847.10 (3,214,559.82) (1,481,235.00) (1,727,407.88) (5,916.94) 8,146,218.48 (2,300,000.00) (900,000.00) (280,000.00) (400,000.00) (720,000.00) 5,846,218.48 (865,324.72) 4,980,893.76 (80,000.00) 4,900,893.76 (660,000.00) 4,240,893.76 (1,441,904) 2,798,989.88 25% Ano 5 2,798,989.88 660,000.00 (132,000.00) (9,966.36) 3,317,023.52 5

Ano 6 11,697,863.10 8,773,818.90 2,617,980.75 306,063.45 (3,230,251.55) (1,483,151.25) (1,740,979.03) (6,121.27) 8,467,611.55 (2,300,000.00) (900,000.00) (280,000.00) (400,000.00) (720,000.00) 6,167,611.55 (902,834.13) 5,264,777.42 (80,000.00) 5,184,777.42 (660,000.00) 4,524,777.42 (1,538,424) 2,986,353.09 26% Ano 6 2,986,353.09 660,000.00 (132,000.00) (10,112.54) 3,504,240.55 6

Ano 7 12,039,820.65 9,071,396.10 2,651,980.50 316,444.05 (3,245,946.57) (1,485,067.50) (1,754,550.19) (6,328.88) 8,793,874.08 (2,300,000.00) (900,000.00) (280,000.00) (400,000.00) (720,000.00) 6,493,874.08 (940,903.65) 5,552,970.43 (80,000.00) 5,472,970.43 (660,000.00) 4,812,970.43 (1,636,410) 3,176,560.48 26% Ano 7 3,176,560.48 660,000.00 (132,000.00) (10,258.73) 3,694,301.75 7

Ano 8 12,271,166.79 9,262,090.35 2,685,980.26 323,096.18 (3,261,567.02) (1,486,983.75) (1,768,121.35) (6,461.92) 9,009,599.77 (2,300,000.00) (900,000.00) (280,000.00) (400,000.00) (720,000.00) 6,709,599.77 (966,258.82) 5,743,340.95 (80,000.00) 5,663,340.95 (660,000.00) 5,003,340.95 (1,701,136) 3,302,205.02 27% Ano 8 3,302,205.02 660,000.00 (132,000.00) (6,940.38) 3,823,264.64 8

www.financasfacil.com Ano 9 12,504,462.00 9,454,668.00 2,719,980.00 329,814.00 (3,277,188.78) (1,488,900.00) (1,781,692.50) (6,596.28) 9,227,273.22 (2,300,000.00) (900,000.00) (280,000.00) (400,000.00) (720,000.00) 6,927,273.22 (991,838.03) 5,935,435.19 (80,000.00) 5,855,435.19 (660,000.00) 5,195,435.19 (1,766,448) 3,428,987.22 27% Ano 9 3,428,987.22 660,000.00 (132,000.00) (6,998.86) 3,949,988.36 9

Perpetuidade (Fluxo de Caixa do ltimo ano i)

2,659,225.45 (1 + 0,10)3 2,659,225.45 1.331 1,997,915.44 TIR Ano 3

3,117,641.02 (1 + 0,10)4 3,117,641.02 1.464 2,129,390.77 18.7% Ano 4

3,317,023.52 (1 + 0,10)5 3,317,023.52 1.611 2,059,610.63

3,504,240.55 (1 + 0,10)6 3,504,240.55 1.772 1,978,052.43

3,694,301.75 (1 + 0,10)7 3,694,301.75 1.949 1,895,760.94

3,823,264.64 (1 + 0,10)8 3,823,264.64 2.144 1,783,581.17

3,949,988.36 (1 + 0,10)9 3,949,988.36 2.358 1,675,180.66

Ano 5

Ano 6

Ano 7

Ano 8

Ano 9

73% 217.00

75% 232.00

76% 237.00

77% 242.00

78% 247.00

79% 249.00

80% 251.00

39,968 59,951 Ano 3 7,458,734.85 8,672,947.50 (1,214,212.65) (957,600.00)12.8%

41,063 61,594 Ano 4 8,192,790.00 9,526,500.00 (1,333,710.00) (957,600.00)11.7%

41,610 62,415 Ano 5 8,480,950.20 9,861,570.00 (1,380,619.80) (957,600.00)11.3%

42,158 63,236 Ano 6 8,773,818.90 10,202,115.00 (1,428,296.10) (957,600.00)10.9%

42,705 64,058 Ano 7 9,071,396.10 10,548,135.00 (1,476,738.90) (957,600.00)10.6%

43,253 64,879 Ano 8 9,262,090.35 10,769,872.50 (1,507,782.15) (957,600.00)10.3%

43,800 65,700 Ano 9 9,454,668.00 10,993,800.00 (1,539,132.00) (957,600.00)10.1%

(504,000.00) (403,200.00) (50,400.00) (517,886.25)6.9%

(504,000.00) (403,200.00) (50,400.00) (521,718.75)6.4%

(504,000.00) (403,200.00) (50,400.00) (523,635.00)6.2%

(504,000.00) (403,200.00) (50,400.00) (525,551.25)6.0%

(504,000.00) (403,200.00) (50,400.00) (527,467.50)5.8%

(504,000.00) (403,200.00) (50,400.00) (529,383.75)5.7%

(504,000.00) (403,200.00) (50,400.00) (531,300.00)5.6%

(99,918.75) (24,000.00) (54,000.00) (39,967.50) (300,000.00) (1,475,486.25) 5,983,248.60-80.2%

(102,656.25) (24,000.00) (54,000.00) (41,062.50) (300,000.00) (1,479,318.75) 6,713,471.25-81.9%

(104,025.00) (24,000.00) (54,000.00) (41,610.00) (300,000.00) (1,481,235.00) 6,999,715.20-82.5%

(105,393.75) (24,000.00) (54,000.00) (42,157.50) (300,000.00) (1,483,151.25) 7,290,667.65-83.1%

(106,762.50) (24,000.00) (54,000.00) (42,705.00) (300,000.00) (1,485,067.50) 7,586,328.60-83.6%

(108,131.25) (24,000.00) (54,000.00) (43,252.50) (300,000.00) (1,486,983.75) 7,775,106.60-83.9%

(109,500.00) (24,000.00) (54,000.00) (43,800.00) (300,000.00) (1,488,900.00) 7,965,768.00-84.3%

Ano 3 3,102,477.19 2,098,293.75 599,512.50

Ano 4 3,187,476.57 2,155,781.25 615,937.50

Ano 5 3,229,976.25 2,184,525.00 624,150.00

Ano 6 3,272,475.94 2,213,268.75 632,362.50

Ano 7 3,314,975.63 2,242,012.50 640,575.00

Ano 8 3,357,475.32 2,270,756.25 648,787.50

Ano 9 3,399,975.00 2,299,500.00 657,000.00

314,744.06 89,926.88 2,481,981.75 2,413,037.81 689,439.38 (620,495.44) (930,743.15) (723,911.34) (206,831.81) 1,551,238.6062.5%

323,367.19 92,390.63 2,549,981.26 2,479,148.44 708,328.13 (637,495.31) (956,242.97) (743,744.53) (212,498.44) 1,593,738.2962.5%

327,678.75 93,622.50 2,583,981.00 2,512,203.75 717,772.50 (645,995.25) (968,992.88) (753,661.13) (215,331.75) 1,614,988.1262.5%

331,990.31 94,854.38 2,617,980.75 2,545,259.06 727,216.88 (654,495.19) (981,742.78) (763,577.72) (218,165.06) 1,636,237.9762.5%

336,301.88 96,086.25 2,651,980.50 2,578,314.38 736,661.25 (662,995.13) (994,492.69) (773,494.31) (220,998.38) 1,657,487.8162.5%

340,613.44 97,318.13 2,685,980.26 2,611,369.69 746,105.63 (671,495.06) (1,007,242.60) (783,410.91) (223,831.69) 1,678,737.6662.5%

344,925.00 98,550.00 2,719,980.00 2,644,425.00 755,550.00 (679,995.00) (1,019,992.50) (793,327.50) (226,665.00) 1,699,987.5062.5%

(684,000.00) (360,000.00) (288,000.00) (36,000.00) (71,951.25) (59,951.25) (12,000.00) (1,686,694.40) 795,287.3532.0%

(684,000.00) (360,000.00) (288,000.00) (36,000.00) (73,593.75) (61,593.75) (12,000.00) (1,713,836.72) 836,144.5432.8%

(684,000.00) (360,000.00) (288,000.00) (36,000.00) (74,415.00) (62,415.00) (12,000.00) (1,727,407.88) 856,573.1233.1%

(684,000.00) (360,000.00) (288,000.00) (36,000.00) (75,236.25) (63,236.25) (12,000.00) (1,740,979.03) 877,001.7233.5%

(684,000.00) (360,000.00) (288,000.00) (36,000.00) (76,057.50) (64,057.50) (12,000.00) (1,754,550.19) 897,430.3133.8%

(684,000.00) (360,000.00) (288,000.00) (36,000.00) (76,878.75) (64,878.75) (12,000.00) (1,768,121.35) 917,858.9134.2%

(684,000.00) (360,000.00) (288,000.00) (36,000.00) (77,700.00) (65,700.00) (12,000.00) (1,781,692.50) 938,287.5034.5%



Ano 5 295,847.10 (5,916.94) 289,930.16 Ano 5 (900,000.00) (280,000.00) (400,000.00) (720,000.00) Ano 5 11,360,778.30 5,846,218.48 (397,627.24) (467,697.48) (865,324.72) Ano 5 (80,000.00) Ano 5 (660,000.00) Ano 5 (381,680.44) (1,060,223.44)





(1,107,654.48) Ano 3 10,200,905.03 306,027.15 (18,927.35)

(1,346,848.62) Ano 4 11,028,566.26 330,856.99 (24,829.84)

(1,441,903.88) Ano 5 11,360,778.30 340,823.35 (9,966.36)

(1,538,424.33) Ano 6 11,697,863.10 350,935.89 (10,112.54)

(1,636,409.95) Ano 7 12,039,820.65 361,194.62 (10,258.73)

(1,701,135.93) Ano 8 12,271,166.79 368,135.00 (6,940.38)

(1,766,447.97) Ano 9 12,504,462.00 375,133.86 (6,998.86)

www.financasfacil.com Ano 10 12,779,175.60 9,687,267.90 2,753,979.75 337,927.95 (3,292,838.46) (1,490,816.25) (1,795,263.65) (6,758.56) 9,486,337.14 (2,300,000.00) (900,000.00) (280,000.00) (400,000.00) (720,000.00) 7,186,337.14 (1,022,178.12) 6,164,159.02 (80,000.00) 6,084,159.02 (660,000.00) 5,424,159.02 (1,844,214) 3,579,944.95 28% Ano 10 3,579,944.95 660,000.00 (132,000.00) (8,241.41) 4,099,703.54 10 40,997,035.42

45,096,738.96 (1 + 0,10)10 45,096,738.96 2.594 17,386,745.08

Ano 10

81% 254.00

44,348 66,521 Ano 10 9,687,267.90 11,264,265.00 (1,576,997.10) (957,600.00)9.9%

(504,000.00) (403,200.00) (50,400.00) (533,216.25)5.5%

(110,868.75) (24,000.00) (54,000.00) (44,347.50) (300,000.00) (1,490,816.25) 8,196,451.65-84.6%

Ano 10 3,442,474.69 2,328,243.75 665,212.50

349,236.56 99,781.88 2,753,979.75 2,677,480.31 764,994.38 (688,494.94) (1,032,742.40) (803,244.09) (229,498.31) 1,721,237.3562.5%

(684,000.00) (360,000.00) (288,000.00) (36,000.00) (78,521.25) (66,521.25) (12,000.00) (1,795,263.65) 958,716.1034.8%

Ano 10 337,927.95 (6,758.56) 331,169.39 Ano 10 (900,000.00) (280,000.00) (400,000.00) (720,000.00) Ano 10 12,779,175.60 7,186,337.14 (447,271.15) (574,906.97) (1,022,178.12) Ano 10 (80,000.00) Ano 10 (660,000.00) Ano 10 (488,174.31) (1,356,039.76)

(1,844,214.07) Ano 10 12,779,175.60 383,375.27 (8,241.41)

EstudodeCaso Hotel Ilha Do Sol

Documents

Transcript of EstudodeCaso Hotel Ilha Do Sol