* Projected annual return on investment, based on the expected estimated operating profit of the hotel in a period of 15 years of its operation. The above forecasts assume the most optimal level of the future hotel segmentation, distribution, employment level, and investment level, as well as expenses that can be achieved in the current market situation. There is no guarantee that the above forecasts will become achievable results. The level of operating results achieved depends on a large number of factors, including factors independent of the manager, e.g. economic trends, political conditions, competition on the local market, etc.