Tourism And Cultural Affairs Department Tender

The bid capacity required in the given tender to bid having value and formulas is as follows: * Quoted Annual Concession Fee (ACF) = Quoted Revenue Per Available Room (RevPAR) x Quoted Revenue Share Percentage x Minimum No. of Rooms x 365 days * Actual Annual Concession Fee (ACF) = Higher of (Actual Gross Revenue earned by the Concessionaire x applicable Revenue Share%) or (Minimum Annual Guarantee) * Minimum Annual Guarantee (MAG) = 70% of Quoted ACF or Rs. 0.6 Crore (exclusive of taxes), whichever is higher Additionally, the bid capacity includes: * Threshold Technical Capacity: The bidder should furnish details of eligible experience to satisfy this capacity. * Threshold Financial Capacity: The bidder must provide audited annual reports for the last 3 financial years and establish a minimum Net Worth. The bid also requires a Bid Security with a minimum validity of 180 days from the Bid Due Date, and a claim period of at least 60 days. The Bid Security can be in the form of a bank guarantee or demand draft payable at Mumbai, issued by a Scheduled Bank in India. Other key values and formulas include: * Minimum Revenue Share percentage to be quoted: 11% * Upfront Concession Fee (UCF): Rs. 4 Crore (exclusive of taxes) * MAG to increase at a fixed rate of 3% every year * MAG shall be adjusted pro-rata based on the number of rooms commissioned in case of Partial COD * MAG to be adjusted pro-rata based on the commissioning of additional rooms after COD