Sheraton Hotel Redding At Sundial Bridge - Redding Record ...

FIGURE 12-2 SUMMARY OF HOTEL GROUND LEASES
Dollar Percentage
Number of Amount of Total
City ST Rooms Ground Lease Formula (+000) Revenue
Rancho Mirage, CA CA 250 Year 1: 0.5% of total revenue; year 2: 1.0% of total revenue; year 3:
1.5% of total revenue; yea r 4+: 5.0% of total revenue
Chi co, CA CA 43 $114,400 annually, increa sed every 30 months by the CPI set at 1989,
plus 7% of gross total sales minus the base rent
$501 5.0%
$617 6.2%
Los Angeles, CA CA 200 7.5% of rooms revenue $364 3.6%
Cuperti no CA 149 6% of gross sa les, aga inst a mini mum $601 6.0%
San Diego CA 422 5% of rooms revenue, 3% of food revenue, 5% of bevera ge revenue,
and 5% to 10% of other revenue
Rental Based on
Stabilized Revenue
130-Unit Subject Property
$437 5.0%
Minimum: $364 3.6%
Maximum: $617 6.2%
Average: $512 5.3%
February-2011 Cost Approach
Sheraton Hotel Redding At Sundial Bridge – Redding, California 109