Formula Lexicon

Methodology and formulas behind every calculation in the TORA engine

CAPEX Revenue Occupancy & ADR F&B Departmental P&L OPEX EBITDA Debt Service Villa Sales Exit Valuation IRR & Returns

Total project cost is assembled from typed assets (hotel, independent villas, UH villas, indoor and outdoor common spaces) and shared costs (land, fees, contingency, infrastructure).

Asset Cost = Units × Avg Size (m²) × Cost per m² (by Quality Level)

Construction Cost = Σ(Asset Costs) + Indoor Spaces + Outdoor Spaces

FF&E Cost = Construction Cost × FF&E Rate

Contingency = (Construction + FF&E) × Contingency Rate

Fees = Σ(Legal + Architect + Interior + BET + PM + Directors + Misc)

Total CAPEX = Land + Construction + FF&E + Contingency + Fees + Infrastructure + Pre-opening + Desalination + PV + Marketing

Quality LevelLuxury, Standard — determines €/m² rate

PhasePhase 1 (opening) or Phase 2 (expansion) — drives timing

Line ItemsEach asset has its own start month + duration for monthly distribution

This lexicon documents the methodology implemented in the TORA financial engine (packages/engine). All formulas are deterministic and reproduce the Excel Business Plan model. The full 17-year, 204-month model is computed in roughly 8ms.

Formula Lexicon

Capital Expenditure (CAPEX)

Revenue Computation

Occupancy & ADR

Food & Beverage

Departmental P&L

Operating Expenditure (OPEX)

EBITDA

Debt Service (RRF + Bank)

Villa Sales Development P&L

Exit Valuation

IRR & Returns