Hotel Continental

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Exhibit A
HOTEL CONTINENTAL INCOME STATEMENT
For the Years 1987-1988

Revenues 1987 1988

RoomsP 1,969,722.18P 2,515,575.96
FoodP 4,843,486.42P 5,426,843.98
BeverageP 637,862.39P 684,983.02
LaundryP 23,070.24P 29,175.00
TelephoneP 147,417.16P 175,163.14
Swimming PoolP 156,718.28P 182,718.45
Other IncomeP 660,336.83P 842,985.15

Total RevenueP 8,438,613.50P 9,857,444.70

Cost of Sales

FoodP 2,123,270.37 P 2,441,662.31
BeverageP 123,378.81 P 190,992.64
TelephoneP 328,312.73 P 229,564.95
Payroll and Related ExpensesP 2,280,340.43 P 2,620,443.06 BonusP 428,870.60 P 440,980.43
Other ExpensesP 906,883.33 P 761,904.65

Total Cost of SalesP 6,191,056.27P 6,685,548.04

Gross Operating IncomeP2, 247, 557.23P 3,171,896.66

Administrative and GeneralP 1,109,621.53P 1,360,885.31 Marketing and PromotionP 159,036.26P 166,660.36 Property Operations, Maintenance
and Energy CostP 3,978,297.27P 3,893,292.15
Employees benefits and Related
ExpensesP 67,006.97P 89,748.01

TOTAL OPERATING EXPENSESP 5,313,962.03P 5,510,585.83

Net LossP(3,066,404.80)P(2,338,689.17)

*In 1988, average room rate for tour groups was P 464.00; in1987, P329.00

Exhibit B
REPORT ON THE HOTEL INDUSTRY

Number of Competitors in the Lodging Industry
Hotels - 90
Inns- 67
Resorts- 60
Apartel- 9
Pension- 35
Lodges-151
Motel- 8
Unclassified- 10

Metro Manila Hotels (28)

Hotel Continental
Century Park Sheraton
Holiday Inn
Hotel Intercom Manila
Hyatt Regency Manila
Manila Pavilion
Manila Hotel
Mandarin Oriental
Manila Midtown Hotel
Manila Peninsula
Philippines Plaza Hotel...
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