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
Why Cap rate is high?
The capitalization rate, typically just called the cap rate, is the ratio of Net Operating Income (NOI) to the property asset value assuming the property is purchased on cash not on loan. Need to check on this.
Initials RDE stands for what? What is the area dedicated for this purpose and what contains in this?
Retail, Dining, and Entertainment.150,000 square foot covered outdoor RDE with a separate gate, adjacent to the hotel and studio attraction concepts.The preliminary plans include:- Amphitheater/Live Entertainment Venue - Water Fountain Show- Rides- Retail & Dining- Exclusive Beach Club
The retail and wholesale sector is the biggest single contributor to Dubai’s economy?
The retail and wholesale sector is the biggest single contributor to Dubai’s economy. The market’s ecosystem is driven for the most part by the franchise model, which integrates global brands and privately owned family firms to represent their interests in the country and region.
What is the difference between a TV series and a feature film?
TV episodes are either 30 minutes or 60 minutes long with commercial breaks, while feature films are at least 90 minutes long. 2. TV shows have different narrative structures. A movie has a clear beginning, middle, and end, while TV shows are episodic and allow for multiple beginnings, middles, and ends.2
What does SFX mean?
Special effects
Who struck the right balance in Theme Park Business?
Warner Bros, we got something right in Abu Dhabi because it caters to residents. We have annual passes and actually use them often. Tourists are a bonus. Mostly, plans are over-optimistic, have little relationship to the size of the markets or demand levels, and do not reflect industry performance benchmarks. This may not stop them from getting funded and built ( can’t deliver on the forecast)Sounds like Dubai Parks hired some consultants who unsurprisingly overpromised…. Nothing new for Dubai.
Customers’ Perception of SunCenter What did you expect when you first heard Action Aquapark? What do you associate the name with?
The name of the park is chosen properly because when people hear of Action Aquapark for the first time they think of fun in the water (43%). Another 20% associate the name with water action.
How do you do the advertisments?
We do our adverts in the national /regional press, TV, supermarkets, hotel receptions, buses, guide books and outdoor ADs. Tour operators too, but their commissions grew more than ever. They try to take from each park 40-45% of the ticket price!!!
Is it important to be a member of WWA?The World Waterpark Association (WWA), which was started in 1982, is an international not-for-profit that serves waterparks, aquatic venues, and spray parks.
It contributes to our promotion worldwide, and additionally, we will receive information on current innovations, management policies, and the latest news in the industry.
Is there a change of the markets’ preferences the last 3-5 years? Why do people like theme parks?
No. People always want the same: Theme parks will always remain with fun, sun, space, and speed. People like theme parks because they offer high-adrenalin rides and slides.
What are Theme Parks?
Theme parks are part of the escapist realm. Generally, people choose to visit a theme park when they would like to escape from reality or routine.But they are facing new challenges, which probably partly couldbe explained with changesintheconsumers’motivations,needs,and experiences.Companiesthatfailtofollowthenewrequirements for experience will not contrive to stay in business for long.
What are some of the challenges in managing an amusement or theme park?
Theme park projects must contend with ongoing operational challenges related to staffing, maintenance, and visitor management. These challenges can include everything from hiring and training employees to ensure the safety and cleanliness of the park, to managing crowds and lines during peak periods.
What is the vision, mission, strategic goals of the company/park?
The most important strategic goal is to maintain and expand our market share through safety, quality, hospitality, and fun.
Questions yo be asked;
What’s with the new corporate tax and financial statements?Tour operator commission is not factored in? Value-added tax, local taxes, duties, etc., must also be considered in various marketing concepts.A detailed evaluation may require further clarifications on changes since 2019.
Define Sun Center
It’s a perspective on themed and immersive entertainment. It’s a Florida-style project on one of the man-made Deira Islands that appeals to both locals and tourists near Dubai compared to other theme parks on the outskirts.
Dubai islands to Deira islands
Deira IslandsThe idea of a third Palm Island, Palm Deira, set to dwarf the other two at eight times the size of Palm Jumeirah, was introduced in 2004. However, in 2013, Nakheel shifted gears, and renamed the project to Deira Islands, opting to create four smaller, man-made islands. Late 2018 we will see the opening of Deira’s first large-scale debut, its Night Souk, the world’s largest (of course) night market with over 5,000 shops and almost 100 restaurants and cafes.If shopping indoors during a UAE summer is more your style, Deira Mall, with its retractable roof atrium and over 1,000 stores, might just be paradise. The mall will serve as the centerpiece of Deira Islands Boulevard, which will feature retail space and at least 16 residential towers. By 2020, two of the four islands will hopefully be developed and completed, with 250,000 people living on them, to boot.
- What is an immersive experience?
The perception of being surrounded by – and being a part of – a different environment than our normal day-to-day. Some three-dimensional image which appears to surround the user.
Who Are the Top 6 Property Developers in Dubai?
- Emaar Properties · 2. Nakheel · 3. Dubai Properties · 4. Damac Properties · 5. Meraas · 6. Dubai Holding
to what can Dubai success attributed to?
It can be attributed to a combination of factors, including its vast reserves of natural resources, strategic economic diversification efforts, and prudent financial management.
