Construction costs and fitting expenses

The calculation of construction costs is based on planning permission documentation. The calculation shown comprises aggregated items, which are also available in the section "Downloads".

CONSTRUCTION COSTS CZK thousands EUR thousands
Preparation of the area, rerouting 16 476 617,1
Large earthworks, securing the construction pit 62 133 2 327,1
Structural section 297 815 11 154,1
Construction section 158 873 5 950,3
Water supply, sewage, fittings 77 121 2 888,4
Internal gas mains 589 22,1
Heavy current, weak current 74 237 2 780,4
Heating, cooling, air-conditioning, climate control, MaR 60 256 2 256,8
Backup source, transformers 5 600 209,7
Gastro operations 10 700 400,7
Stable fire fighting equipment 7 268 272,2
Elevators, escalators 24 250 908,2
Equipment for the removal of heat and smoke 810 30,3
Anti-flood measures 12 716 476,3
Connections 3 570 133,7
Drainage 2 780 104,1
Lighting 2 550 95,5
Roads, ATÚ 23 977 898,0
Parking modifications 5 385 201,7
Total construction costs 847 106 31 727
* converted using an exchange rate of CZK 26.70 / EUR valid on the date the calculation was carried out

While the project does involve the additional costs associated with the need for a special foundation along the riverbank and anti-flood measures, when compared to the cost of real estate renovation to refurbish a 4 or 5 star category hotel in the historical city centre, the construction costs per square meter, including the expense of fittings and furnishing of the RIVER TERRACE Hotel, are at a minimum 6 percent cheaper. In case of RIVER TERRACE Hotel estimated construction costs of 850 million CZK the saving form approximately 51 million CZK.

In addition to cost savings of construction due to the site location being slightly outside of the city centre, other advantages to improvements in this locale include the less rigorous requirements of construction and hygiene limits, opportunity to apply latest state-of-the-art technology and standards, as well as the hidden cost savings of  not being required to get approval from several public review bodies including the State Monument Office.

In the final analysis, the RIVER TERRACE project, in its proposed location, will provide for an overall cost savings as well as have fewer regulatory requirements than a refurbishment of a similar scaled congress hotel project located in the nearby city centre.

Fitting expenses

Expenses for the fittings and furnishing of the hotel are categorized below according to particular premise category. Expenses correspond with anticipated hotel standard and location.

FITTING AND FURNISHING EXPENSES
CZK EUR
Expenses for the fitting out of hotel rooms 90 888 800 3 404 075
Congress centre equipment 7 855 000 294 195
Restaurants and bars 14 002 240 524 428
Fitting out the reception and foyer, administrative part 7 086 000 265 393
Total hotel fittings and furnishing costs 119 832 040 4 488 091
* converted using an exchange rate of CZK 26.70 / EUR valid on the date the calculation was carried out