DOCSLIB.ORG

Discussion/Approval of Hotel Market Feasibility Study

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Discussion/Approval of Hotel Market Feasibility Study Executive Summary To: WEDC Board of Directors Submitted By: Craig Lindholm Date: November 28, 2017 Discuss/Seek Guidance/Action: Discussion/Approval of Hotel Market Feasibility Study Executive Summary: Cobblestone Hotels, LLC has approached the city about the development of a hotel to serve the Winnsboro market area. The first step in the development of a hotel is a market feasibility study. Cobblestone specializes in hotel development in markets with populations between 2,000 - 10,000. They have recommended we consider utilizing the Core Distinction Group for the market feasibility study. I have attached information on Core Distinction Group and researched their work. They will also be available to speak with the Board via a conference call. If approved the process would take approximately 3 months to complete. Financial Implications: Total cost is $8,000. Retainer of $4,000 if the preliminary finding do not support a hotel at this time no additional payment is required. Page 2 of 76 Core Distinction Group specializes in community feasibility market studies. Our hands-on industry experience offers our clients valuable knowledge and understanding. Each community is unique. A one-size-fits-all approaches will never produce a productive outcome. We deliver custom solutions, tailored to you – your needs, your values, your one-of-a-kind community. Check out the services we offer and see why our strength is in our difference. Our Services Include: • Market Feasibility Studies • Request for Proposal Services • Franchise Agreement Negotiations • Management Agreement Negotiations • Hospitality Sales/Marketing/Operations Consulting Page 3 of 76 • And Much More At Core Distinction Group, we set and exceed the industry standard for high-quality, thorough, and complete work. Our studies assist our clients in the decision-making process as they determine how to proceed with a proposed project. Our studies include the following components: • General Market Overview including Market Location & Characteristics • Full Site Analysis • Economic Overview • Industry Demand Analysis • Industry Supply Analysis • Financial Proforma • And much more As part of our studies we complete three crucial steps: • Conduct extensive supply and demand interviews with local and regional drivers. • Perform an in depth and in person market evaluation. • Review data generated from industry data warehouse companies to ensure a greater understanding of trends. www.coredistinctiongroup.comPage 4 of 76 OUR PROCESS Step One Step Three Once our contract is signed and our retainer received, we Items requested from Community Include: Strategic Plan move onto the next step of our study process. or Comprehensive Plan (if available), identified sites for hotel development inclusive of costs, any available incentives for new hotel development including but not Step Two limited to TIF, Property Tax Abatements, Utility Abatements etc., lodging tax collection data from the past Schedule field work visit to community and meet with 5 years, a tour of community and interview minimum time EDC, Chambers, City members, local businesses, etc. frame 1 hour commitment for this section. We will request that you provide us with a listing of individuals to interview via phone or in person during our visit as well, offer an introductory call or email to these Step Four individuals to ensure we have as much cooperation from the community as possible to gather the most accurate Upon completion of the site visit we proceed in ordering data. Typically, our site visit consists of a day long visit to the STR (Smith Travel Research) Reporting data the community to begin our process. identifying market trends of hotels in the immediate and/or nearby markets. We will, also survey any local motels/hotels in the market area for comparison in addition to STR reporting ordered on major brands identified. Since the STR Data will give us only an overview of the area, we will take the interviews with the community into heavy consideration when determining need. Complete Research on community and prepare reporting; this process is approximately 60-90 days from the scheduled field work. Step Five Should a market lack initial support for hotel development, our group would cease further research of the market and send a letter to the payee highlighting the reasons for the lack of support for a hotel development in the market with a potential date for follow up in the future. At which time the retainer is considered payment in full and no other fees are owed until further research is requested by the payee. Page 5 of 76 www.coredistinctiongroup.com Cobblestone Inn & Suites McConnelsville, OH Number of Units: 45 Building Specifications: 45 unit (22,570sq.ft.), two (2) story, center load, Cobblestone Inn & Suites, with an expanded guest wine & beer bar, standard (king & queen/queen) rooms, four (4) 2-room extended stay suites, free hot breakfast for all guests, guest convenience store, guest fitness room, guest laundry room, and meeting room. Total Land & Prep $430,000 per room $9,556 Raw Land $250,000 Permit & Community (plan review/permit/inspect/impact/tap fees/etc.) $30,000 Site Utility & Excav. (sewer/water/electric/grading & fill/drainage/etc.) $150,000 Building Construction $2,510,000 per room $55,778 Fixtures, Furnishings, and Equipment $657,500 per room $14,611 Indirect Costs $672,500 per room $14,944 Appraisal $5,000 Architectural / Engineering $80,000 Cobblestone Franchise Fee $35,000 Surveys $7,500 Development Services $200,000 Pre-Opening Expenses $40,000 Working Capital $100,000 Legal and Accounting Fees $5,000 Construction Period Interest / Loan Fees / Closing $80,000 Insurance & Taxes During Construction $20,000 Project Contingency $100,000 Total Project Costs: $4,270,000 per room SAMPLE$94,889 Requested Loan Amount: $2,570,000 60.2% Expected Cash Injection: $1,700,000 39.8% Sources of Funding Bank Loan $2,570,000 Debt Interest: 5.00% Expected Cash Injection $1,700,000 Debt Terms: 20 Total: $4,270,000 Debt Service: $203,532 * Pricing noted above valid for 90 days from document date shown Page 6 of 76 1 03/13/2017 Rooms: RAMP UP YEAR: 45 January February March April May June July August September October November December TOTAL Lodging Rooms Available 1,395 1,260 1,395 1,350 1,395 1,350 1,395 1,395 1,350 1,395 1,350 1,395 16,425 Lodging Occupancy % 47.7% 52.0% 51.8% 59.8% 71.5% 70.4% 73.2% 68.1% 71.1% 74.9% 65.1% 57.9% 63.7% Total Occ. Rooms 665 656 722 808 998 950 1,021 950 960 1,045 879 808 10,460 Average Daily Rate $85.66 $87.76 $87.50 $90.90 $105.40 $105.06 $105.30 $103.15 $101.43 $101.58 $88.92 $85.60 $96.78 Revenue Per Available Room (REVPAR) $40.84 $45.66 $45.29 $54.37 $75.37 $73.93 $77.09 $70.24 $72.09 $76.09 $57.88 $49.55 $61.63 REVENUE: Guest Rooms 56,965 57,526 63,178 73,398 105,136 99,803 107,539 97,988 97,322 106,148 78,134 69,124 1,012,261 Telephone / Misc. Revenue 166 164 181 202 249 238 255 238 240 261 220 202 2,615 Meeting Room Revenue 333 328 361 404 499 475 511 475 480 523 439 404 5,230 Vending / Bar Revenue 1,663 1,639 1,805 2,019 2,494 2,375 2,553 2,375 2,399 2,613 2,197 2,019 26,149 TOTAL HOTEL REVENUE 59,126 59,656 65,525 76,022 108,377 102,891 110,858 101,075 100,440 109,544 80,990 71,749 1,046,254 HOTEL PAYROLL EXPENSE Hotel Manager 4,583 4,583 4,583 4,583 4,583 4,583 4,583 4,583 4,583 4,583 4,583 4,583 55,000 Housekeeping 2,993 2,950 3,249 3,634 4,489 4,275 4,596 4,275 4,318 4,703 3,954 3,634 47,068 Front Desk 4,557 4,602 5,054 5,872 8,411 7,984 8,603 7,839 7,786 8,492 6,251 5,530 80,981 Employee Benefits 607 607 644 704 874 842 889 835 834 889 739 687 9,152 Workers Comp Insurance 303 303 322 352 437 421 445 417 417 444 370 344 4,576 Payroll Tax 1,517 1,517 1,611 1,761 2,185 2,105 2,223 2,087 2,086 2,222 1,849 1,718 22,881 TOTAL HOTEL PAYROLL 14,560 14,562 15,464 16,907 20,980 20,211 21,338 20,037 20,024 21,333 17,746 16,496 219,658 HOTEL OPERATING EXPENSE Cleaning Supplies 366 361 397 444 549 523 562 523 528 575 483 444 5,753 Laundry Supplies 333 328 361 404 499 475 511 475 480 523 439 404 5,230 Linens 399 393 433 485 599 570 613 570 576 627 527 485 6,276 Guest Supplies 499 492 542 606 748 713 766 713 720 784 659 606 7,845 Operating Supplies 565 557 614 686 848 808 868 808 816 888 747 686 8,891 Uniforms Expense 67 66 72 81 100 95 102 95 96 105 88 81 1,046 Repairs & Maintenance 285 288 316 367 526 499 538 490 487 531 391 346 5,061 Grounds/Landscaping 750 750 750 500 250 250 250 250 250 250 500 750 5,500 Franchise Fee 3,488 3,150 3,488 3,375 3,488 3,375 3,488 3,488 3,375 3,488 3,375 3,488 41,063 Training Expense 417 417 417 417 417 417 417 417 417 417 417 417 5,000 Property Mgmt.
Load more

Recommended publications
  • List of Tax Reform Good News
    List of Tax Reform Good News 1,200 examples of pay raises, charitable donations, special bonuses, 401(k) match hikes, business expansions, benefit increases, and utility rate reductions attributed to the Tax Cuts and Jobs Act As of August 17, 2020. Please send any additions to this list to John Kartch at [email protected] This list and all 50 state lists are constantly updated – please access this national list and all 50 state lists at www.atr.org/list A 1A Auto, Inc. (Westford, Massachusetts) -- Bonuses for all full-time employees: Massachusetts based online auto parts retailer 1A Auto announced across the board cash bonuses for all full-time employees. CEO Rick Green says that the decision was based on recent changes to tax policy. In a company meeting Wednesday, Green told employees, "Ultimately the tax savings will be passed to our customers in the form of lower prices, but we want to also share some of the savings with you, our hard-working employees." Jan. 25, 2018 1A Auto, Inc. press release 2nd South Market (Twin Falls, Idaho) -- A food hall is opening because of the TCJA Opportunity Zone program, and is slated to create new jobs: One of the nation’s fastest-growing trends, food halls, is coming to Twin Falls. 2nd South Market, slated to open this summer, will be housed in the historic 1926 downtown Twin Falls building formerly occupied by the Salvation Army. 2ndSouth Market will be the first Opportunity Zone project to open in Idaho and the state’s third Opportunity Zone investment.
    [Show full text]
  • 2018 Hotel Brand Reputation Rankings: USA & Canada
    REPORT 2018 Hotel Brand Reputation Rankings: USA & Canada October 2018 INDEX Introduction 4 Methodology 6 The Importance of Brand Reputation 7 Key Data Points: All Chain Scales 8 Key Findings 9 Summary of Top Performers 10 ECONOMY BRANDS Overview 13 Top 25 Branded Economy Hotels 14 Economy Brand Ranking 15 Economy Brand Ranking by Improvement 16 Economy Brand Ranking by Service 17 Economy Brand Ranking by Value 18 Economy Brand Ranking by Rooms 19 Economy Brand Ranking by Cleanliness 20 Review Sources: Economy Brands 21 Country Indexes: Economy Brands 22 Response Rates: Economy Brands 22 Semantic Mentions: Economy Brands 23 MIDSCALE BRANDS Overview 24 Top 25 Branded Midscale Hotels 25 Midscale Brand Ranking 26 Midscale Brand Ranking by Improvement 27 Midscale Brand Ranking by Service 28 Midscale Brand Ranking by Value 29 Midscale Brand Ranking by Rooms 30 Midscale Brand Ranking by Cleanliness 31 Review Sources: Midscale Brands 32 Country Indexes: Midscale Brands 33 Response Rates: Midscale Brands 33 Semantic Mentions: Midscale Brands 34 UPPER MIDSCALE BRANDS Overview 35 Top 25 Branded Upper Midscale Hotels 36 Upper Midscale Brand Ranking 37 Upper Midscale Brand Ranking by Improvement 38 Upper Midscale Brand Ranking by Service 39 Upper Midscale Brand Ranking by Value 40 Upper Midscale Brand Ranking by Rooms 41 Upper Midscale Brand Ranking by Cleanliness 42 Review Sources: Upper Midscale Brands 43 Country Indexes: Upper Midscale Brands 44 Response Rates: Upper Midscale Brands 44 Semantic Mentions: Upper Midscale Brands 45 Index www.reviewpro.com
    [Show full text]
  • Hotel Brand Conversions
    Hotel Brand Conversions: What Works and What Doesn’t by Chekitan S. Dev EXECUTIVE SUMMARY s many as one-third of U.S. hotels have been converted from one brand to another in recent years, a process that frequently improves the hotel’s financial performance—although that is not always the case. Using data collected between 1994 and 2012 from PKF Hospitality Research, an analysis of brand conversions by 260 hotels shows that hotels moving downscale generallyA improved their occupancy, and thus their top-line revenue and profit ratios, compared to a control group of 2,750 hotels that did not change brands. However, hotels that moved upscale did not see notable changes in revenue or profit, nor did hotels that moved across their tier, especially when they stayed within their brand family. Two factors seem to drive the financial results for converted hotels—the relative strength of the brand and the fit between the brand and the property. Cornell Hospitality Report • November 2015 • www.chr.cornell.edu • Vol. 15, No. 21 1 ABOUT THE AUTHOR Chekitan S. Dev, Ph.D., is associate professor of strategic marketing and brand management at the School of Hotel Administration. Recognized as a leading authority on strategic marketing and brand management, His award-winning research has been published in several peer reviewed journals, including the Journal of Marketing and Harvard Business Review. He has won all major hospitality research awards including the 2002 John Wiley & Sons award for lifetime contribution to hospitality and tourism research. Additionally, he has received several teaching excellence awards. A former corporate executive with Oberoi Hotels & Resorts, he has served corporate, government, education, advisory and private equity clients in over 35 countries on five continents as consultant, seminar leader and expert witness.
    [Show full text]
  • Proposed Downtown Berryville Hotel
    Proposed Downtown Berryville Hotel Berryville, Virginia 22611-1315 NKF Job No.: 19-0004412 Feasibility Study Prepared For: Mr. Nathan Stalvey President Berryville Main Street 23 East Main Street Berryville, VA 22611-1315 Prepared By: Newmark Knight Frank Hospitality, Gaming & Leisure Group Valuation & Advisory 1350 Euclid Avenue, Suite 300 Cleveland, OH 44115 1350 Euclid Avenue, Suite 300 Cleveland, OH 44115 July 19, 2019 Mr. Nathan Stalvey President Berryville Main Street 23 East Main Street Berryville, VA 22611-1315 RE: Feasibility Study of a Proposed Downtown Berryville Hotel Downtown Berryville , Berryville, Virginia NKF Job No.: 19-0004412 Newmark Knight Frank Valuation & Advisory, LLC has prepared a feasibility study of the referenced property in the following report. Summary of the Proposed Subject Property The feasibility study considers development of a proposed hotel in Downtown Berryville on or proximate to Main Street. The subject site has average access to major roadway (State Route 7) because of its proposed location in downtown Berryville's Main Street district, limiting its visibility and ease of ingress and egress from a major roadway. While the proposed site is proximate to some demand generators, the low density of commercial developments in the area is projected to be a weakness. Leisure attractions in Berryville and Clarke County including vineyards, historic manors and event venues, and Barns of Rose Hill will help mitigate this weakness. Visibility is considered to be average, relative to other historic downtown locations, due to its proposed multi- level configuration, assumed signage, and on or proximate to Main Street. State Route 7, which connects Berryville to neighboring Winchester and Leesburg, is less than a mile north from central downtown.
    [Show full text]
  • Back INN Style?
    HYLodging2002.qxd 1/16/02 12:54 PM Page 3 High Yield Lodging Research January 2002 High Yield Lodging Outlook 2002 Back INN Style? Jason N. Ader (212) 272-4257 Jason M. Kroll CFA (212) 272-9621 Trip McCoy (212) 272-8821 High Yield Lodging Outlook 2002 January 18, 2002 Table of Contents Investment Thesis .............................................................................................. 4 Is the Lodging Industry Poised for a Turnaround?.................................................... 5 What is the Credit Outlook?................................................................................ 10 How Are Current Trends? ................................................................................... 13 Relative Value Analysis...................................................................................... 15 Company Updates Boca Resorts, Inc.............................................................................................. 17 Extended Stay America, Inc................................................................................. 24 FelCor Lodging Trust .......................................................................................... 34 Host Marriott, LP .............................................................................................. 45 MeriStar Hospitality Corp. ................................................................................... 56 Prime Hospitality Corp........................................................................................ 66 Starwood Hotels & Resorts
    [Show full text]
  • Lodging Feasibility Study
    Payette, ID Lodging Feasibility Study For more information regarding this report, contact: [email protected] [email protected] Table of Contents Introduction/Objective …………………………………………………..…………………………………………….3 Executive Summary …………………………………………………………………………………………………………………………4-10 Property Segment Property Size Room Rate Property Features, Amenities, and Services Recommended Sleeping Room Configuration Economic Impact Potential Lodging Demand Analysis Ramp Up Year Projections 1-5 Year Projection Market Demand Area SWOT: Community Feedback Site Analysis ………………………………………………………………………………………………………………………….11-16 Development Sites & Maps AADT - Annual Average Daily Traffic Economic Overview ……………………………………………………………………………………………………………17-20 Population Effective Buying Income Workforce/Employment Distribution Unemployment/Labor Supply/Wage Pressures Transportation Information Lodging Demand …………………………………………………………………………………………………………………..21-30 Market Segmentation Events and Attractions Community Interviews Lodging Supply ……………………………………………………………………………………………………………………..31-50 Competitive Hotel Properties Peak and Low Season Projected Average Daily Room Rate & Positioning Historical and Projected Market Performance Local and Competitive Set Surveyed Lodging Details STRDRAFT Data Trends & STR Chain Scales Hotel Market Feasibility Study Introduction Payette, ID The following Comprehensive Lodging Feasibility Study Report will review the potential development of a hotel in Payette, ID. Core Distinction Group LLC (CDG) has been
    [Show full text]
  • We Are America's Travel Industry, A
    The Honorable Mitch McConnell The Honorable Nancy Pelosi Majority Leader Speaker of the House of Representatives United States Senate United States House of Representatives Washington, DC 20510 Washington, DC 20510 The Honorable Charles Schumer The Honorable Kevin McCarthy Minority Leader Minority Leader United States Senate United States House of Representatives Washington, DC 20510 Washington, DC 20510 March 20, 2020 Dear Leader McConnell, Leader Schumer, Speaker Pelosi, and Leader McCarthy: We are America’s travel industry, an economic sector that directly employs 9 million American workers and supports a total of 15.8 million jobs. The travel and tourism industry—including but not limited to transportation, lodging, recreation and entertainment, food and beverage, meetings, conferences and business events, travel advisors, destination marketers—is comprised of businesses of all sizes, but the vast majority, 83%, are small businesses. Together we are grappling with the immediate and devastating impact of the current health crisis. Furloughs of American travel workers are happening right now. Travel to and within the United States has essentially ground to a stop due to the actions needed to halt the spread of coronavirus. Aggressive financial relief is needed immediately. Taking care of our employees will always be our top priority, but the hard fact is we cannot continue supporting them through this disaster without relief. To that end, we greatly appreciate and strongly support provisions in the ‘‘Coronavirus Aid, Relief, and Economic Security Act’’ that provide: • $300 billion for enhanced Small Business Administration (SBA) loans distributed through an expedited process and can be partially forgiven for employee retention; and • Tax relief to mitigate economic losses, including deferral of tax liability, extension of the Net Operating Loss deduction, and delay of estimated tax payments.
    [Show full text]
  • Awarding of a Contract to Newmark Knight Frank To
    Table of Contents Hospitality, Gaming & Leisure Valuation & Advisory PROPOSAL TO COMPLETE A MARKET DEMAND AND FEASIBILITY STUDY AND SITE ANALYSIS FOR A PROPOSED HOTEL PREPARED FOR: City of Walnut September 4, 2019 1 City of Walnut Table of Contents Cover Letter………………………………………...……………………...…………...…Page 1 Scope of Work and Timing…………………………………….……………..…………..Page 2 Company Overview and Staff Qualifications……….……………….……...………….Page 8 Terms and Conditions..……………..……………………….………….……………....Page 22 Sample Table of Contents………….……………………………………......………….Page 26 Qualifications of the Hospitality, Gaming & Leisure Specialty Practice….….……...Page 27 2 City of Walnut Cover Letter August 29, 2019 Ms. Joelle Guerra Senior Management Analyst, City of Walnut 21201 La Puente Road Walnut, CA 91789 (909) 595-7543 Dear Ms. Guerra: We are pleased to submit a proposal to provide professional real estate valuation and advisory services to conduct a market demand and feasibility study and site analysis in Walnut, CA. We have completed several hotel assignments in the area, including recent assignments in Tracy, West Hollywood, San Diego, Huntington Beach, and Glendale. We also actively engage with hotel owners, management companies, and developers as well national and regional brand representatives, including Choice International, Cobblestone Hotels, Hilton Worldwide, Marriott International, Wyndham Hotels, and others. Our clients include developers, investors, lenders, hotel management companies, and municipalities, all of whom require quality and comprehensive reports. In the proposal that follows, we will demonstrate that Newmark Knight Frank Valuation & Advisory LLC (NKF V&A) has the geographic reach, depth of experience, and array of professional talent to satisfy your needs for an accomplished valuation and advisory firm. Our team for this hotel feasibility study will be led by Laurel Keller, MAI and John Kelley, CHIA, who will serve as the primary points of contact.
    [Show full text]
  • Reshaping Our Portfolio
    Reshaping Our Portfolio 2012 Annual Report Hilton Garden Inn Solomons (above and right), located within the Washington, D.C., market, joined our portfolio in May of 2012. Featured on the Cover: (clockwise from top right): Hilton Garden Inn Solomons, Comfort Suites of Lafayette, Comfort Inn & Suites of Warsaw, Hilton Garden Inn Solomons. 2012: Year in Review STRENGTHENED the balance sheet, adding $30 million in new equity and refinancing $31.5 million of debt, reducing total annual debt service obligations by approximately $1.1 million. INCREASED 2012 revenues from continuing operations 5.3 percent to $70.6 million. ACQUIRED first upscale segment hotel, a 100-room Hilton Garden Inn. SOLD 15 hotels, generating a total of $25.5 million in gross proceeds. CORPORATE PROFILE Supertel is a self-administered real estate investment trust (REIT) that invests in select-service hotels. Supertel trades on the NASDAQ under the symbols SPPR, SPPRO, and SPPRP. As of March 31, 2013, the company owned 84 hotels aggregating 7,431 rooms located in 22 states. OUR MISSION To consistently generate a competitive rate of return for our shareholders through a disciplined approach to hotel investments. A Letter to Our Shareholders Supertel remains very much in the process of executing its business plan of transition by strengthening its balance sheet and rebuilding its hotel portfolio. We have a long way to go before anyone will declare us victors and we must bring our “A” game every day. One of my management team colleagues often reminds us that when this ship is sailing smoothly, we will have our shareholders to thank for the opportunity.
    [Show full text]
  • Market Feasibility Study Report for the Wolverine Dilworth Hotel 300 E
    MARKET FEASIBILITY STUDY REPORT FOR THE WOLVERINE DILWORTH HOTEL 300 E. WATER STREET BOYNE CITY, CHARLEVOIX COUNTY, MICHIGAN Date of Report: June 4, 2010 FOR Ms. Elisabeth Knibbe, FAIA Principal Quinn Evans Architects 219 N. Main Street Ann Arbor, Michigan 48104 June 4, 2010 Ms. Elisabeth Knibbe, FAIA Principal Quinn Evans Architects 219 N. Main Street Ann Arbor, Michigan 48104 RE: Wolverine Dilworth Hotel Boyne City, Charlevoix County, Michigan Dear Ms. Knibbe: In fulfillment of our engagement letter, we have completed our study of the market demand and economic feasibility for the proposal to redevelop the Wolverine Dilworth Hotel in Boyne City, Charlevoix County, Michigan. The developer plans to open the hotel as a 29-unit property with two restaurants and meeting space. The property is located at 300 E. Water Street. The consultants have prepared more than 1,000 similar studies over the past 20 years with various firms. The study is based upon market conditions observed as of the date of our market inspection on May 19, 2010 and research conducted in May and June, 2010. Assumptions The conclusions contained in this report are based upon a review of information provided by you, Landmark Development, and on-site field work in the market area that is described in the Scope of Assignment section. As in all studies of this type, the conclusions reached do not take into account, or make provisions for, the effect of any sharp rise or decline in local or general economic conditions not presently foreseeable. The estimated results are based on competent and efficient management of the proposed hotel, as well as an aggressive marketing program prior to and after the opening of the proposed hotel.
    [Show full text]
  • Restaurant and Hotel
    MERRILL LYNCH GA TE S T D. PA . J R O UNIVERSITY OF TR K St. John’s Towncenter List of Hotels on the West side I-95 W HNS NORTH FLORIDA (not shown on map-off of JTB HOTEL INDIGO A Y JAMESON INN BELFOR B LUF MASTERS INN HOMEWOOD SUITES STUDIO PLUS F TAPESTRY RD WINGATE PARK . COURTYARD G A ST. LUKES TE EXTENDEDSTAY BLUE CROSS RED ROOF HOSPITAL GATE PARKWAY BLUE SHIELD LA QUINTA P Baymeadows COMPASS ARK COSTCO HOMESTEAD STUDIO SUITES HOTEL W A HOLIDAY INN Y J. TURNER BUTLER BOULEVARD MARRIOTT SHERATON HOTEL ADP East HOMESTEAD CANDLEWOOD SUITES BELLSOUTH CEVA J a c ks o nv ille , Flo r ida – Duva l Co unt y PHH CIT HAMPTON INN WACHOVIA RESIDENCE INN KOGER CENTER 9A LOCATI ON: RADISSON INN CHASE DEERWOOD WINN DIXIE Intersection of 9A and Baymeadows PARK SOUTH OFFICES FLAGLER IN VISTAKON CARRIAGE CLUB MA PL EGEN D OF JACKSONVILLE T SOUTHSIDE ER VISTAKON S OFFICES TA T HOTELS E 9 BO U L RETAIL/ENTERTAINMENT 5 EV AR D RESTAURANTS POPULATI ON: 76,672 (5 mile radius) Source :AGS OFFI CE SPACE: BAYMEADOWS INN & SUITES CYPRES 15,726,005 sft (3 mile radius) S GREEN DR. STUDIO 6 HOLIDAY INN EMBASSY SUITES HOTEL TOTALDAYTI ME EMPLOYMENT: BAYMEADOWS ROAD HAMPTON INN AMERICA’S BEST SNEAKERS 69,231 (5 mile radius) La QUINTA INN STEIN MART STICKY FINGERS Source :AGS CARRABBA’S AMERI SUITES WINN DIXIE BAYMEADOWS OUTBACK STEAKHOUSE WESTE ROAD RN WAY CIRCL QUALITY INN E WALGREENS HOMESTEAD STUDIO COMMUNITY FIRST NUMBER OF BUSI NESS ES : PEOPLES FIRST BANK FIRST GUARANTEE BANK 4,233 (5 mile radius) BAYMEADOWS ROAD WENDY’S NATIVE SUN HOTELROOMS : SHELL GAS REE 3,708 (3 mile radius) BANK OF AMERICA Baymeadows East DY BRANC Baymeadows East PUBLIX WACHOVIA C TRAFFI CCOUNTS : AN O H PY DR OA Baymeadows West of 9A IVE KE 25,000 AADT DRI VE 9A 9A North of Baymeadows 74,500 AADT Contact Rachel Shrader 904-886-0602 [email protected] Joyce Development Group 1 2 4 4 3 S a n J os e Blvd., S uite 1 0 0 2 J a c ks onville ,FL 3 2 2 2 3 Te l: ( 9 0 4 ) 8 8 6 - 0 6 0 2 • Fa x : ( 9 0 4 ) 8 8 6 - 0 6 0 4 www.
    [Show full text]
  • Beatrice, NE Lodging Feasibility Study
    Beatrice, NE Lodging Feasibility Study For more information regarding this report, contact: [email protected] [email protected] Table of Contents Introduction/Objective …………………………………………………..…………………………………………….3 Executive Summary …………………………………………………………………………………………………………………………4-10 Property Segment Property Size Room Rate Property Features, Amenities, and Services Recommended Sleeping Room Configuration Economic Impact Potential Lodging Demand Analysis Ramp Up Year Projections 1-5 Year Projection Market Demand Area SWOT: Community Feedback Site Analysis ………………………………………………………………………………………………………………………….11-16 Development Sites & Maps AADT - Annual Average Daily Traffic Economic Overview ……………………………………………………………………………………………………………17-20 Population Effective Buying Income Workforce/Employment Distribution Unemployment/Labor Supply/Wage Pressures Transportation Information Lodging Demand …………………………………………………………………………………………………………………..21-27 Market Segmentation Events and Attractions Community Interviews Lodging Supply ……………………………………………………………………………………………………………………..28-50 Competitive Hotel Properties Peak and Low Season Projected Average Daily Room Rate & Positioning Historical and Projected Market Performance Local and Competitive Set Surveyed Lodging Details STR Data Trends & STR Chain Scales Hotel Market Feasibility Study Introduction Beatrice, NE The following Comprehensive Lodging Feasibility Study Report will review the potential development of a hotel in Beatrice, NE. Core Distinction Group LLC (CDG) has been engaged
    [Show full text]