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

11. Sales Comparison Approach
Comparable Sales
The sales comparison approach is based on the principle of substitution, which
defines a property’s value as the cost of acquiring an equally desirable substitute
(assuming that no costly delay is incurred in making the substitution). Thus, the
sales comparison approach can be used to form an opinion of a property’s market
value from the price at which equally desirable properties have sold, or for which
they can be purchased, on the open market.
To present our selection of comparable sales, we conducted a comprehensive
search for transactions of hotels that bear comparison to the proposed subject
property in one or more key areas. When possible, we gave priority to
transactions occurring in the same state or region as the subject property. We also
considered factors such as operational and physical similarities to the proposed
subject property, including brand affiliation and revenue-generating potential. We
have primarily focused on transactions that occurred within the last two years
because of changes in market conditions since that time. The following
transactions involved hotels that have some degree of similitude with the
proposed subject property.
February-2011 Sales Comparison Approach
Sheraton Hotel Redding At Sundial Bridge – Redding, California 97