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

Recommendations

Info

FIRST FLOOR PLAN February-2011 Description of the Proposed Project Sheraton Hotel Redding At Sundial Bridge – Redding, California 30
Guestrooms Back-of-the-House ADA and Environmental Capital Expenditures Construction Budget The hotel is expected to feature standard and suite-style guestroom configurations, and guestrooms will be present on all three floors of the property within the single building. The guestrooms will average 370 square feet in size (standard king rooms will measure 309 square feet, standard queen/queen rooms 347 square feet, suites 694 square feet, and the presidential suite will measure 896 square feet) and will offer standard amenities for this upscale product type. ADAcompliant rooms are approximately 80 to 100 square feet larger. In addition to the standard furnishings, rooms are expected to feature an iron and ironing board, a coffeemaker, and high-speed Internet access. Suites, which will be available for a premium rate, will provide a larger living area with additional furnishings and other upgraded amenities. Overall, the guestrooms should offer a high-quality product for this Redding market. The hotel will be served by the necessary back-of-the-house space, including an inhouse laundry facility, administrative offices, and a full-service kitchen to serve the needs of the restaurant and the function space. These spaces should be adequate for a hotel of this type and should allow for the efficient operation of the property under competent management. We assume that the property will be built according to all pertinent codes and brand standards. Moreover, we assume its construction will not create any environmental hazards (such as mold) and that the property will fully comply with the Americans with Disabilities Act. Our analysis assumes that, after its opening, the hotel will require ongoing upgrades and periodic refurbishments in order to maintain its competitive level in this market. These costs should be adequately funded by the forecasted reserve for replacement, as long as a successful, ongoing preventive-maintenance program is employed by hotel staff. The construction budget for the 130-room subject hotel, as provided by the project developer, is illustrated in the following table. According to the developer, predevelopment costs spent, as of February 16, 2010, equate to $723,297. The costs comprise mainly of architectural and engineering fees, franchise fees, project management fees, civil engineering fees, and interior design fees. February-2011 Description of the Proposed Project Sheraton Hotel Redding At Sundial Bridge – Redding, California 31
Page 1 and 2: February-2011 SUMMARY APPRAISAL REP
Page 3 and 4: stabilization. Based on our analysi
Page 5 and 6: Table of Contents SECTION TITLE PAG
Page 7 and 8: SUMMARY OF VALUE PARAMETERS Number
Page 9 and 10: 2. Nature of the Assignment Subject
Page 11 and 12: Objective of the Appraisal an annua
Page 13 and 14: Exposure Period The hotel is expect
Page 15 and 16: Competency Scope of Work While mark
Page 17 and 18: 3. Description of the Site and Neig
Page 19 and 20: Physical Characteristics HOTEL SITE
Page 21 and 22: SUBJECT SITE RENDERING AND SHARED P
Page 23 and 24: Turtle Bay Exploration Park The sub
Page 25 and 26: 4. Description of the Proposed Proj
Page 27 and 28: Summary of the Facilities RENDERING
Page 29: Public Areas all signage will adequ
Page 33 and 34: 5. Market Area Analysis Market Area
Page 35 and 36: FIGURE 5-1 ECONOMIC AND DEMOGRAPHIC
Page 37 and 38: FIGURE 5-2 HISTORICAL AND PROJECTED
Page 39 and 40: Unemployment Statistics increased u
Page 41 and 42: Airport Traffic Airport passenger c
Page 43 and 44: Tourist Attractions Additionally, t
Page 45 and 46: Conclusion frontage is back to norm
Page 47 and 48: FIGURE 6-1 HISTORICAL SUPPLY AND DE
Page 49 and 50: FIGURE 6-2 MONTHLY OCCUPANCY TRENDS
Page 51 and 52: FIGURE 6-4 COMPETITORS - OPERATING
Page 53 and 54: FIGURE 6-5 NEW SUPPLY DEMAND Propos
Page 55 and 56: FIGURE 6-8 AVERAGE ANNUAL COMPOUNDE
Page 57 and 58: 7. Projection of Occupancy and Aver
Page 59 and 60: occupancy rate has been positioned
Page 61 and 62: Competitive Position calculated by
Page 63 and 64: FIGURE 7-6 MARKET AND SUBJECT PROPE
Page 65 and 66: 8. Highest and Best Use As if Vacan
Page 67 and 68: 9. Approaches to Value Income Capit
Page 69 and 70: 10. Income Capitalization Approach
Page 71 and 72: FIGURE 10-1 COMPARABLE OPERATING ST
Page 73 and 74: FIGURE 10-3 COMPARABLE OPERATING ST
Page 75 and 76: FIGURE 10-4 DETAILED FORECAST OF IN
Page 77 and 78: Forecast of Income and Expense The
Page 79 and 80: available room. We expect the propo
Page 81 and 82:
INCOME CAPITALIZATION Mortgage Comp
Page 83 and 84:
Equity Component & Equity Yield Rat
Page 85 and 86:
Terminal Capitalization Rate 20% fo
Page 87 and 88:
Mathematical Proof of Value The val
Page 89 and 90:
Our debt coverage ratio falls withi
Page 91 and 92:
Derived Capitalization Rates FIGURE
Page 93 and 94:
Discounted Cash Flow Analysis - “
Page 95 and 96:
Discounted Cash Flow Analysis - “
Page 97 and 98:
11. Sales Comparison Approach Compa
Page 99 and 100:
FIGURE 11-2 SUMMARY OF SELECTED COM
Page 101 and 102:
Sale#2 Sheraton Delfina Santa Monic
Page 103 and 104:
Sale#4 Holiday Inn Laguna Hills Lag
Page 105 and 106:
Conclusion the subject’s leasehol
Page 107 and 108:
FIGURE 12-1 SUBJECT PROPERTY CONSTR
Page 109 and 110:
FIGURE 12-2 SUMMARY OF HOTEL GROUND
Page 111 and 112:
FIGURE 12-4 DISCOUNTED CASH FLOW AN
Page 113 and 114:
Pre-Opening and Working Capital Cos
Page 115 and 116:
13. Reconciliation of Value Indicat
Page 117 and 118:
yet, in fact, exist as of the date
Page 119 and 120:
9. The Americans with Disabilities
Page 121 and 122:
proposed project and/or the market
Page 123 and 124:
of Professional Ethics and the Stan
Page 125 and 126:
calculating the hotel’s market sh
Page 127 and 128:
COMMERCIAL SEGMENT PROJECTIONS (YEA
Page 129 and 130:
NI = Net income available for debt
Page 131 and 132:
NI 1 - (f x M x V) = de 1 NI 2 - (f
Page 133 and 134:
Using these known variables, the fo
Page 135 and 136:
Page 2 Suzanne R Mellen 01/10/2011
Page 137 and 138:
Page 4 Suzanne R Mellen 01/10/2011
Page 139:
Addenda Requirements - certificatio
Page 143 and 144:
EXAMPLES OF CORPORATE AND INSTITUTI
Page 145 and 146:
Elaine Sahlins EMPLOYMENT 1997 - pr
Page 147 and 148:
Page 149 and 150:
EXAMPLES OF PROPERTIES APPRAISED OR
Page 151 and 152:
Page 153 and 154:
Page 155 and 156:
Page 157 and 158:
Page 159 and 160:
PROFESSIONAL AFFILIATIONS EDUCATION
Page 161 and 162:
APPEARANCE AS AN EXPERT WITNESS, CO
Page 163 and 164:
Page 165 and 166:
Page 167 and 168:
Page 169 and 170:
Page 171 and 172:
Page 173 and 174:
Page 175 and 176:
Page 177 and 178:
Page 179 and 180:
Page 181 and 182:
Page 183 and 184:
Page 185 and 186:
Page 187 and 188:
Page 189 and 190:
Page 191 and 192:
Page 193 and 194:
Page 195 and 196:
Page 197 and 198:
Page 199 and 200:
Page 201 and 202:
show all

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

Create successful ePaper yourself

Delete template?

Save as template?