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

FIGURE 4-2 SUBJECT PROPERTY CONSTRUCTION BUDGET
Conclusion
Component
SOFT/FINANCING COSTS
Project Management
Architectural & Engineering
Interior Design
Permits & Fees
SUB TOTAL SOFT COSTS
Soft Cost Contingency (3%)
TOTAL SOFT COSTS
CONSTRUCTION
Guestrooms (including site work and utilities)
Remodel of Visitor Center (including lobby and
restaurant)
Restaurant Patio
Pool
Kitchen Equipment
FF&E
OS&E
IT Systems
Event Lawn
SUB TOTAL CONSTRUCTION COSTS
Cons tructi on Conti ngency (5%)
TOTAL CONSTRUCTION COSTS
TOTAL SOFT AND CONSTRUCTION COSTS
Financing/Legal/Reports/Closing
Pre-Opening/Working Capita l
Initial Franchise Fee
Cost per Room
$120,000 $923
650,000 5,000
140,000 1,077
815,000 6,269
1,725,000 13,269
51,750 398
1,776,750 13,667
10,780,050 82,923
750,000 5,769
200,000 1,538
250,000 1,923
400,000 3,077
1,105,000 8,500
715,000 5,500
450,000 3,462
200,000 1,538
14,850,050 114,231
742,503 5,712
15,592,553 119,943
17,369,303 133,610
1,000,000 7,692
750,000 5,769
85,000 654
TOTAL DEVELOPMENT COST $19,204,303 $147,725
Contri buted Bui l ding
$2,000,000 $15,385
TOTAL PROJECT COST $21,204,303 $163,110
Overall, the subject property should offer a well-designed, functional layout of
support areas and guestrooms. All typical and market-appropriate features and
amenities appear to be included in the hotel's design. We assume that the building
will be fully open and operational on the assumed opening date and will meet all
local building codes and brand standards. Furthermore, we assume that the hotel
staff will be adequately trained to allow for a successful opening and that premarketing
efforts will have introduced the product to major local accounts at least
six months in advance of the opening date.
February-2011 Description of the Proposed Project
Sheraton Hotel Redding At Sundial Bridge – Redding, California 32
Cost