MahaNakhon Observatory: Developing a Tourism Destination for Thailand's Tallest Building Kipsan Beck, Managing Director, PACE Development Corporation Plc.
HEIGHT 314m OBSERVATORY THE RITZ-CARLTON SKY RESIDENCES THE RITZ-CARLTON RESIDENCES EDITION BANGKOK FACILITIES PARKING MAHANAKHON SQUARE MAHANAKHON CUBE BTS STATION CHONGNONSI
PACE Development 2016
GROUND FLOOR CARS RESIDENTIAL ENTER OBSERVATORY PURCHASE TICKETS ACCESS TO TOILETS (2 nd FL) LIFT UP / EXIT OBSERVATORY HOTEL CUBE (RETAIL) PEDESTRIANS SQUARE CARS
2 lifts + 1 service 22 people per lift 39 seconds G - 74 8m/s PACE Development 2016
PACE Development 2016
75 th FLOOR MEZZANINE FLOOR ABOVE 74th FLOOR TO GO UP TO SKYTRAY USING SPIRAL STAIRS/CIRCULAR LIFT FLOOR TO EXIT DOWN VIA LIFT
PACE Development 2016
78 th FLOOR OUTDOOR VIEWING PLATFORM 360 DEGREE VIEWS ELEVATED VIEWING PLATFORM SKYTRAY FEATURE
PACE Development 2016
PACE Development 2016
FLOOR 78 77 76 75 74
INDOOR/OUTDOOR BAR FLOORS 76/77
PACE Development 2016
75 th FLOOR DEPARTURE
PACE Development 2016
PACE Development 2016
PACE Development 2016
Tourist Mass market Must-visit Eye-catching Educational Entertainment Must-visit Sharing Urban Dining High-end Exciting Landmark Must-visit Energetic Contemporary Sophisticated Urban Energetic High-end Service Luxury High-end Private Exclusive Classic Sophisticated Modern Attitude Service Personal High-end Youthful
General Admission Hong Kong Prices Seoul Kuala Lumpur Singapore New York Instanbul Dubai Paris Bangkok London International Visitors 2015 by City (millions) 8.68 10.35 11.12 11.88 12.27 12.56 14.26 16.06 Bangkok has HUGE Tourism 18.24 18.82 2015 Mastercard City Index Research
General Admission Prices BUSINESS MODEL: HOW OBSERVATORIES WORK OBSERVATORY TICKET $USD DAILY VISITS ANNUAL VISITS Empire State Tower $32 10,000 3,600,000 One World Observatory $20 9,700 3,500,000 Top of the Rock $35 9,700 3,500,000 Taipei 101 $16 6,500 2,340,000 Petronas Twin Towers $21 1,700 612,000 Burj Khalifa $35 5,200 1,870,000 Ticket Sales USD $12 - $120m Souvenirs, Retail, F&B $3 - $30m Development Value Premium Achieved 0 20% 2016 PACE Research
As Thailand s first purpose built observatory, the revenues and visitor numbers achieved within year 3 represent just one major revenue source to drive the valuation of the entire property. YEAR 3 MAXIMUM Visits per day 4,600 16,000 Visits per year 1,680,000 6,000,000 Ticket revenue per year USD $40m USD $140m Souvenir revenue per year USD $8m USD $40m Naming/sponsor revenue per year USD $15m USD $100m
General Admission Prices MAHANAKHON OBSERVATORY CAPACITY ANALYSIS WAITING TIME (SECONDS) DAILY VISITS 1 st Floor 75 th UP 78 th DOWN 75 th DOWN 3,000 125 75 79 166 4,700 445 76 85 166 6,000 845 84 99 383
BUSINESS MODEL: DAILY TRAFFIC 4,600 PEOPLE 38% 24% 24% 18% 16% 2% Tour Group Bookings Agent Website Bookings Phone Bookings Direct Website Bookings Walk In Bookings B2B Visits 500 450 400 350 300 250 200 150 100 50 0 6am 7am 8am 9am 10am 11am 12pm 1pm 2pm 3pm 4pm TRAFFIC THRESHOLD DAY 5pm 6pm 7pm 8pm 9pm TRAFFIC THRESHOLD NITE 10pm 11pm 2% Special Tour Group Tourists Thai Local B2B Special Sunrise Morning LUNCH Afternoon Sunset DINNER Evening
General Admission Prices MAHANAKHON OBSERVATORY OBSERVATIONS There will be someone else taller.height alone is not enough Success requires memorable experiences beyond just a view High tourist markets have highest potential for success Integration within footprint from design phase is mandatory
THANK YOU KIPSAN BECK Kipsan@pacedev.com www.mahanakhon.com www.fb.com/mahanakhonbkk