Sun Center Dubai Flashcards
Project knowledge
what makes SunCenter Dubai so special
Seamless integration of deluxe hotel rooms and suites, immersive entertainment options, fine dining, meeting spaces, state-of-the-art educational facilities and specialty retail outlets.At the same time, it offers a real insight and behind-the-scenes look at the magic of filmmaking.
What is the cost of the SunCenter, and includes in it?
The SunCenter Dubai real estate development project is currently estimated to cost approximately $798 million USD and will contain five main components: (1) An Indoor Theme Park Attraction, (2) a Four-Star Resort Hotel, (3) Outdoor Retail, Dining & Entertainment Plaza, (4) Movie Studio Production Facilities, and (5) a Film Academy.
What is the overview of the global-themed attractions so far?
Increase in visitors from 5 to 7 % of the global population. 476 - 503 M people.
What contributes to the increased number of travellers or visitors worldwide?
Rising middle-class wealth has increased the popularity and profitability of the industry.
What is the USP of SunCenter Theme Park?
Location, just 8-15 minutes from the airport, Deira Islands, consisting of four interconnected man-made islands, covers a total area of approximately 15.8 square kilometers. Strategic location.
What is the target market of SunCenter?
Targeting the mid and low-Dubai population and international visitors.
Who created the SunCenter Concept?
It’s a concept developed in collaboration with world-class themed content planning and design firms.
How big is The SunCenter?
300,000 square feet
What are rides, exhibits and entertainment included in this project?
Red carpet style entry• Multi-screen presentations & immersive shows• Special effects elements• Dark rides• Bollywood/ Cultural Attractions• 4-D & Flying Theaters• Back-Lot Streetscapes• Live performances• Thrill rides• Retail, dining, and photo opportunities• Augmented & Virtual Reality• Holograms
What are the available markets?
residents within a 2-hour drive of the City of Dubai and tourists over night) markets,
What is the population in UAE and in Dubai?
UAE around 9.8 million. Dubai 3.2 in 2019 and an additional 1 million temp. present individuals. Out of only 11.48% represents Emiratis.
Dubai Statistic?
the UAE is the largest wealth market in the Middle East and the 26th largest worldwide.Overall, the amount of assets held by all individuals living in the UAE is pegged at $925 billion, which means that the average person has approximately $99,000 in private wealth.
Statistic on Tourism
2018 Overnight Visitors: 15.92 million Targeted 2025 Visitors: 23-25 million Average Length of Stay: 3.5 nights Average Spend per Visitor: 1,884 USDRetaining 4th position for international overnight visitors and top-ranked spend by overnight international visitors of $30 billion the busiest international airport in the world with a total of 89.1 million passengers in 2018.
What marketing strategy does Disney use?
Disney has found continued success over the decades is because they have found a way to appeal to all age ranges and demographics with their content.
What are the selected key comparables for SunCenter?
• Dubai Parks & Resorts• Aquaventure Waterpark• IMG Worlds of Adventure• Ferrari World Abu Dhabi• Warner Brothers World Abu Dhabi
Attendance Origins & Penetration Rates for SunCenter?
Resident 60% = 9.6 mio Penetration 17%Tourist 40% = 15.92 (2018) Penetration 7%Weight distribution of visitors
How Disney uses digital marketing strategy successfully?
Social Media Strategy of DisneyApart from the daily posts, Disney’s social media strategy involves sharing content that will engage the followers and make them comment on the posts. Disney also aims to keep its fans engaged by sharing content strategically for different types of audiences.
How could SunCenter use direct marketing?
Direct selling involves direct communication with other companies to explore different opportunities offered by SunCenter. Sponsorship is another part of this marketing mix.SunCenter spreads over an extensive area of 300000 square feet. Let us take you on a trip to this fully immersive, entertainment park.
What should be SunCenter pricing strategy?
We should use a market-driven pricing strategy with prices based on popular industry standards. Meanwhile, the value-based pricing strategy is applied to various products.
Is the 53.5 Ebitda is possible?
I think the promoters of development projects over-state the potential profits, either through an overestimation of the income or understating the operating costs, or both.The majority of the attractions achieve EBITDA margins of between 10 and 40 percent, with an average of 22 percent.Mostly, plans are over-optimistic, have little relationship to the size of the markets or demand levels, and do not reflect industry performance benchmarks. (can’t achieve forecast)
P&L of 2026
Gross revenues (2026) at 85.6 million USD. Total Expenses 35.5 mio.• Gross operating profit = 50.1 million USD, 58.5% of gross revenues• Reinvestment and Replacement Reserve = 4.3 , equal to 5 percent of gross revenues• EBITDA = 45.8 million USD, equal to 53.5 percent of gross revenues
Hospitality outlook for 2023?
Dubai saw a surge in performance during the first quarter of 2023. Average occupancy during the January-March period stood at 83 percent, making it one of the highest in the world and almost on par with the 84 percent occupancy recorded in Q1 2019 before the Covid-19 pandemic. This is despite the fact that DUBAI has more hotels & hotel rooms than before.
What is occupancy percentage multiplied by ADR?
REVPAR
SunCenter Hotel Revenue?
SunCenter Dubai Hotel recommendations based on findings:• 250 key hotel• 20,000 square feet of conference space• 4-star• Dual Branded• Assumed occupancy of 72% upon stabilization• ADR of 250 USD upon stabilization• RevPAR 180 USD upon stabilization