Hotel Continental

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

Revenues 1987 1988

Rooms P 1,969,722.18 P 2,515,575.96
Food P 4,843,486.42 P 5,426,843.98
Beverage P 637,862.39 P 684,983.02
Laundry P 23,070.24 P 29,175.00
Telephone P 147,417.16 P 175,163.14
Swimming Pool P 156,718.28 P 182,718.45
Other Income P 660,336.83 P 842,985.15 Total Revenue P 8,438,613.50 P 9,857,444.70

Cost of Sales

Food P 2,123,270.37 P 2,441,662.31
Beverage P 123,378.81 P 190,992.64
Telephone P 328,312.73 P 229,564.95
Payroll and Related Expenses P 2,280,340.43 P 2,620,443.06
Bonus P 428,870.60 P 440,980.43
Other Expenses P 906,883.33 P 761,904.65 Total Cost of Sales P 6,191,056.27 P 6,685,548.04

Gross Operating Income P2, 247, 557.23 P 3,171,896.66

Administrative and General P 1,109,621.53 P 1,360,885.31
Marketing and Promotion P 159,036.26 P 166,660.36
Property Operations, Maintenance and Energy Cost P 3,978,297.27 P 3,893,292.15
Employees benefits and Related Expenses P 67,006.97 P 89,748.01

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

Net Loss P(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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