@Woody:
First of all, you're off by a factor of two on net income: We projected $650-850k over a two-car service (so $325-425k/car), which (as part of the report) suggested that the investment would pay off in about six to eight years for the cars in use. Granted, we intentionally made sure to be conservative with our estimates (I think we could have safely estimated closer to $500k/yr per car, particularly if we presumed some pax "cascading" upwards and freeing up space as well as some turnover at Washington).
With that said, you're over-simplifying a far more complex picture. The net income situation which we projected had as much to do with controlled costs (we were looking at the Shoreliner, Palmetto-with-sleeper, and Three Rivers-with-sleeper as comparisons) as it did with revenue. We were looking at trains with vaguely comparable runtimes and no dining car, and there isn't a "dead end" on the train revenue-wise nor lots of "away time" for the crews, etc. For example, the Crescent and Silver Star both run around 30 hours each while the Meteor and Cardinal run 27 hours each. The Shoreliner would run about 16 hours each; the only vaguely comparable run is the LSL, and even it runs close to 20 hours NYP-CHI/22 hours BOS-CHI.
I'm sort-of reverse-engineering the work we did here, but what I'm thinking is the following:
-I will presume that the added car will generate per-sleeper revenue at 80% of the prevailing rate on each train per the December 2016 Monthly Performance Report. This is to account for the fact that Q1 of Amtrak's fiscal year is usually quite strong as well as some downward pressure on overall fares from added capacity.
-I will presume that we're looking at a load factor of about 60% of space occupied in a Viewliner II, with 1.5 passengers per roomette and 2 per bedroom (so, 13.5 pax/sleeper). I'm going to presume about 1.4 sales per space available as well, except in the case of the Star: In the case of the Star I am presuming 2.0 sales per space both due to what I've observed (lots of turnover at RVR) and in light of the fact that the Star is, through December, running at 85% of the Meteor's sleeper pax count despite running with around 70% of the space.
This would give us the following:
-Lake Shore Limited: FY17's PPR was $248, so we're looking at $198.40/passenger times 13.5 pax/sleeper times 1.4. Revenue per frequency is thus $3750, or $2.737m/yr (or $912k/car).
-Crescent: FY17's PPR was $288, so we're looking at $230.40/passenger. Per the above math this gives us $4355/frequency or $3.179m/yr (or $795k/car). NB I think this may be a bit high due to extreme pricing pressure north of Atlanta.
-Silver Meteor: FY17's PPR was $317, so we're looking at $253.60/passenger. Per the math above this gives $4793/frequency or $3.499m/yr (or $875k/car).
-Silver Star: Starting figure is $190, giving us $152/passenger. Per the adjusted math above this gives $4104/frequency or $2.996m/yr (or $750k/car).
-Cardinal: Starting figure is $236, giving us $188.80. Per the math above this gives us $3568/frequency; presuming that we're sticking with 3x weekly, this gives overall revenue of $1.116m (or $558k/car). I suspect the Cardinal's space turnover may be a bit higher as well, but I also suspect that per-passenger revenue may take a little bit more of a hit due to pricing pressure.
So, across 17 sleepers we'd generate $13.527m in additional revenue on these figures (or about $796k/car). Costs are a lot harder for me to estimate, and I'd have to treat all of the trains a little differently in theory...but the bottom line is that said costs won't be $0. In our report, I think we came up with $300k/year in maintenance costs, but that was split over two cars, and there's also arguably adding an SCA to the mix. I'm thinking we'd be looking at $400-500k/car in overall costs (depending on how much is actually incremental; again, we were having to look at work being done at BOS/NPN, not NYP/CHI/MIA which already do a lot of this work), so this would bring the total overall costs to around $6.8-8.5m. This leaves a net of about $5-7m (or a little under what we came up with in our report on a per-car basis...but that's largely down to the Cardinal sandbagging the overall numbers, which in turn is down to its operational situation). There's still the question of spares, etc., too.
Now, do I think there are ways to massage those estimates? Of course I do: There's nothing saying that you have to run every car on every train, and a coordinated schedule of not running a few cars (say, in the middle of the week or in the deep off-season) could help trim expenses (if not improve overall revenue by allowing another few cars to be deployed overall). The 80% figure is also strictly a spitball number since I'm working with a three-month period, etc. Bumping that to 90%, increasing presumed turnover, or adjusting load factors could help. On the other hand, we also might have a lousy estimate on costs and that could break either way.
Edit: One downside not considered above is the per-passenger cost of added OBS expenses. I simply don't have a good way to estimate that sort of thing. It's not likely to be that much, but it's also not $0.