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participants by th~ promoting organization are usua·lly $25 per night. <br />Based on this, and assuming total revenue per horse is twice stall rentals. we use <br />revenue per horse figures of $20 and $30. We believe higher figures than those are <br />unrealistic. Our primary evidence is a survey performed for another proposed facility In <br />Washington. When asked the primary reason for changing facilities, rising facility <br />charges was the most frequent answer. Organizers of horse shows seem to be quite <br />price sensitive. <br />While equine shows wifl be the primary source of WSHP revenue, it is also possible <br />that the facility will be used •for other types· of events. An essential component of <br />profltablllty wlll be booking .events for otheiwise unused times, and in our discussions <br />with Industry consultants several possibllitJes were proposed. <br />One Is housing a "livery stable" --an _organization that rents horses for trail riding. Given <br />the proximity to the Suncadla resort, it is possible that the WSHP may lease space to a <br />contractor who in tum rents horses for trail rides. Riding lessons may be another <br />potentia_l market. The resort may aiso wish to lease the facility for very large events - <br />trade shows. etc. -that require more meeting space than is available at the resort. <br />Entrepreneurial talent on the part of the WSHP management, as well as flexible facility <br />design will maximize the potential of .non-equine revenues. As a rough approximation, <br />it may be possible to generate $100,000 per year in non--equestrian revenue, and we <br />include this amount in one 9f our scenarios, This revenue stream is highly uncertain for <br />several reasons. First, the ~eslgn of the proposed facility is for a relatively small <br />number of spectators. A non-equesbian event will nonnally generate reven.ue from <br />spectatQrs (e.g. music events), so the WSHP facility with seating, restrooms ,etc. <br />designed for an audience of 1000 wm have little appeal. Given its location a mountain <br />pass away from population centers, we view it as unlikely that it will be used for the host <br />of events normally housed in county fairgrounds, such as car and gun shows. The <br />28