Page 28 April Presentation. Check out the performance hurdles before the vendor receives tranche 1 and 2 performance shares:
tranche 1 $24 mill revenue or 44,000 rooms (ie 100% uplift in revenue or 50% uplift in rooms)
tranche 2 $29 mill revenue or 53,000 rooms (ie 140% uplift in revenue or 82% uplift in rooms)
Hard to believe the vendor would agree to those terms unless they thought those targets were achievable...
Nice.
April Roadshow Presentation, page-13
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