ICONIC Rochester, New York HOTEL PORTFOLIO 498 LUXURY ROOMS & BEST-IN-CLASS AMENITIES NON-ENDORSEMENT & DISCLAIMER NOTICE
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NON-ENDORSEMENT NOTICE Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
BRETT CHETEK RYAN BRIGGS Senior Director Senior Financial Analyst Office: (786) 522-7091 Office: (786) 522-7126 Cell: (314) 775-4285 Cell: (314) 540-1421 [email protected] [email protected]
ii ROCHESTER HOTEL PORTFOLIO TABLE of CONTENTS
Section 1 Portfolio Overview ______1 Offering Summary ______6 Year 1 Pro Forma ______7 Section 2 | Hyatt Regency Hyatt Regency Overview ______8 Financial Analysis ______13 Features and Amenities ______21 Ballrooms & Boardrooms ______27 Fine Dining & Entertainment ______32 Location Overview ______37 Section 3 | Strathallan Strathallan Overview ______38 Location Overview ______43 Tapestry Collection Conversion ______44 Financial Analysis ______45 Features and Amenities ______51 Ballrooms & Boardrooms ______58 Fine Dining & Entertainment ______63 Section 4 | Rochester, New York Market Overview ______68 Downtown Revitalization ______72 Demographics ______77
iii ROCHESTER HOTEL PORTFOLIO Section1
The Chetek Group of Marcus & Millichap, as exclusive advisor, is pleased to present the exceptional opportunity to acquire a 100% fee-simple interest in two of the top performing full-service hotels in Rochester, New York. Totaling 498-contemporary rooms boasting the highest ADR’s in the market, the hotels offer 399,051 square-feet of luxury space, and best-in-class amenities including – highly sought after event spaces producing large revenues, extremely successful restaurants with proven track records and a national presence, the swankiest bars and rooftop decks in Rochester, and a full-service resort style spa leased to Ape + Canary.
THE PROPERTIES ARE COMPRISED OF: 1. The iconic Hyatt Regency Rochester (“The Hyatt”) is a 25-story upper upscale Hotel which received an $18,000,000 in renovations in 2017, leaving no stone unturned. The hotel features 247,105 square-feet of premium accommodations and event space – the largest event space in Rochester outside of the convention center. The Hyatt also features a brand-new Morton’s Steakhouse and Starbucks Café, both exceeding forecasts.
2. The Strathallan Rochester Hotel, a DoubleTree by Hilton (“The Strathallan”) is a 155 room, 151,946 square-foot, 9-story best- in class hotel with the highest ADR and RevPAR in Rochester. The Strathallan is the chicest and most desirable wedding venue in all of Rochester with advanced bookings through 2020. The Strathallan also features Char Steak and Lounge, one of the highest grossing restaurants in upstate New York. The Property has the unique ability to be converted to a Tapestry Collection by Hilton, creating substantial upside for investors, which will further solidify the Strathallan as the top performing hotel in all of Rochester.
The highly coveted hotels are notable landmarks in Rochester with incredible appeal to investors seeking reliable cash flow and considerable upside, such as – operational synergies between the hotels, expense optimization, organic growth, and rebranding The Strathallan hotel from a DoubleTree to a Tapestry Collection by Hilton, a vibrant Hilton flag that promotes hotel exclusivity.
1 ROCHESTER HOTEL PORTFOLIO 343 GUEST ROOMS 25 STORIES 247,105 SQUARE FEET
2 ROCHESTER HOTEL PORTFOLIO 155 GUEST ROOMS 9 STORIES 151,946 SQUARE FEET
3 ROCHESTER HOTEL PORTFOLIO Genesse River Located Just 1-Mile Apart
Genesse River
490 Genesse River
DOWNTOWN ROCHESTER
490
490 Genesse River 490
4 ROCHESTER HOTEL PORTFOLIO LAKE ONTARIO
ROCHESTER
SYRACUSE
BUFFALO
5 ROCHESTER HOTEL PORTFOLIO PORTFOLIO OFFERING SUMMARY
PORTFOLIO PURCHASE PRICE UNPRICED
NUMBER OF HOTELS 2
PORTFOLIO GUEST ROOMS 498
PORTFOLIO SQUARE FEET 399,051
HYAT T STRATHALLAN
ROOMS 343 155
SQUARE FEET 247,105 151,946
PRO FORMA ADR $153.63 $201.84
PRO FORMA REVPAR $94.90 $147.48
PRO FORMA OCCUPANCY 61.78% 72.62%
PORTFOLIO OPERATING DATA
INCOME YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5
ROOM REVENUE $20,225,259 $21,384,334 $22,667,394 $24,027,437 $25,469,083
FOOD & BEVERAGE REVENUE $16,294,139 $16,620,021 $16,952,422 $17,291,470 $17,637,300
OTHER REVENUE $326,228 $332,753 $339,408 $346,196 $353,120
NON-OPERATED REVENUE $395,212 $403,116 $411,178 $419,402 $427,790
TOTAL REVENUE $37,240,838 $38,740,224 $40,370,402 $42,084,505 $43,887,293
TOTAL EXPENSES $29,018,535 $29,948,360 $31,192,428 $32,517,976 $34,017,987
NET OPERATING INCOME $8,222,303 $8,791,863 $9,177,974 $9,566,529 $9,869,306
6 ROCHESTER HOTEL PORTFOLIO PRO FORMA YEAR 1 - HYATT PRO FORMA YEAR 1 - STRATHALLAN PROPERTY DETAIL PROPERTY DETAIL Fiscal Year Start 9/1/18 Fiscal Year Start 9/1/18 Fiscal Year End 8/31/19 Fiscal Year End 8/31/19 Average Daily Rate 153.63 Average Daily Rate 201.84 Occupied Rooms 77,340 Occupied Rooms 41,084 Available Rooms 125,195 Available Rooms 56,575 Occupancy Percentage 61.78% Occupancy Percentage 72.62% Rev PAR 94.90 Rev PAR 147.48
REVENUE $ % REVENUE $ % Rooms Department 11,881,358 59.1% Rooms Department 8,343,902 49.8% Food & Beverage Department 7,946,027 39.5% Food & Beverage Department 8,348,112 49.9% Other Operated Departments 272,167 1.4% Other Operated Departments 54,061 0.3% TOTAL REVENUE 20,099,551 100.0% TOTAL REVENUE 16,746,075 100.0%
DEPARTMENTAL EXPENSES DEPARTMENTAL EXPENSES Rooms Department 4,752,543 40.0% Rooms Department 2,038,567 24.4% Food & Beverage Department 3,973,013 50.0% Food & Beverage Department 5,958,948 71.4% Other Operated Department 150,747 55.4% Other Operated Department 25,800 47.7% TOTAL DEPARTMENTAL EXPENSES 8,876,303 44.2% TOTAL DEPARTMENTAL EXPENSES 8,023,315 47.9%
TOTAL DEPARTMENTAL INCOME 11,223,248 55.8% TOTAL DEPARTMENTAL INCOME 8,722,760 52.1%
UNDISTRIBUTED OPERATING EXPENSES UNDISTRIBUTED OPERATING EXPENSES Administrative & General 1,004,978 5.0% Administrative & General 1,936,984 11.6% Sales & Marketing 1,507,466 7.5% Sales & Marketing 1,205,717 7.2% Repairs & Maintenance 1,004,978 5.0% Repairs & Maintenance 534,592 3.2% Utilities 1,306,471 6.5% Utilities 400,914 2.4% Royalty 752,988 3.7% TOTAL UNDISTRIBUTED EXPENSES 4,078,208 24.4% TOTAL UNDISTRIBUTED EXPENSES 5,576,881 27.7%
GROSS OPERATING PROFIT 4,644,552 27.7% GROSS OPERATING PROFIT 5,646,368 28.1%
NON - OPERATED INCOME 320,212 1.6% NON - OPERATED INCOME 75,000 0.4% INCOME BEFORE FIXED CHARGES 5,966,580 29.7% INCOME BEFORE FIXED CHARGES 4,719,552 28.2% FIXED COSTS Management Fees 602,987 3.0% FIXED COSTS Insurance 127,728 0.6% Management Fees 502,382 3.0% Leases 68,196 0.3% Insurance 140,011 0.8% Property Taxes 669,500 3.3% Property Taxes 353,026 2.1% TOTAL FIXED COSTS 1,468,411 7.3% TOTAL FIXED COSTS 995,419 5.9%
NOI (EBITDA) 4,498,169 22% NOI (EBITDA) 3,724,134 22.2%
7 ROCHESTER HOTEL PORTFOLIO Property Overview
Ownership took over the Hyatt Regency in February 2016 with the plan of renovating the property into the premier hotel in Rochester. Construction began in December of 2016 – at that time 50% of the rooms were taken out of service, and all public spaces were demolished. During this period the hotel operated at 50% of its capacity with no F&B outlets until September of 2017. Ownership completed the renovation in October of 2017 and are seeing tremendous growth in ADR and F&B year-over-year as expected. 125 East Main Street, Rochester, New York 14604
The Hyatt Regency Rochester (“The Hyatt”) – Located in downtown Rochester, New York, this upper upscale hotel features 343 brand new renovated rooms, and 247,105 square-feet of luxury space. The Hyatt underwent an $18,000,000 all-inclusive renovation, modernizing the hotel and adding first class amenities. The Hyatt fully reopened in October of 2017 and has seen exciting growth in ADR and RevPAR, demonstrated by its current $30 ADR premium over the competitive set in its last 3 months of operations. Occupancy, ADR, and RevPAR continue to trend upwards, month over month. The hotel has been primed for maximum operating potential and is now among the top performing hotels in Rochester this year, with peak season still approaching.
From the lobby, rooms, roof, and new escalators to the fine details such as finishes, décor, and interior fascia, the renovations spared no expense. With multi-million-dollar renovations and forecasted hotel revenues, Morton’s Steakhouse chose the Hyatt Regency as it’s first location in Rochester, and Starbucks quickly followed.
The Hyatt is conveniently connected by an enclosed sky-walk bridge to the Rochester Riverside Convention Center, which has plans for a $75,000,000 to $100,000,000 renovation. The Hyatt Regency now offers state-of-the-art amenities, including a newly built contemporary style lobby, 20,000 square-feet of functional event space, a brand-new Morton’s Steakhouse, a Starbucks Café, the Street Craft Kitchen and Bar located on the main floor, and the renowned Center City Terrace roof top bar with stunning views of downtown Rochester
Situated along the Genesee River, the Hyatt Regency is the tallest, most upscale hotel in Upstate New York. The Hyatt Regency boasts a new contemporary façade, etching an exceptional new chapter in its history, making it naturally among the hottest hotels in Rochester, resulting in a top lodging choice for visitors and events.
9 INVESTMENT SUMMARY - HYATT REGENCY THE HOTEL SECTOR POSTED THE STRONGEST GROWTH IN DEAL VOLUME ACROSS MAJOR PROPERTY SECTORS IN Q1’18. $10.9B – TRANSACTION VOLUME 63% YOY VOLUME CHANGE
ATTACHED PARKING GARAGE
ENCLOSED SKYWALK BRIDGE TO THE CONVENTION CENTER
10 INVESTMENT SUMMARY - HYATT REGENCY With the new renovation - The Hyatt is focused on targeting corporate business rather than the transient traveler.
11 INVESTMENT SUMMARY - HYATT REGENCY Hyatt Regency Square Footage Breakdown
Floor SF
Ground Floor/Lower Level 23,574
Lobby 21,585
2nd Floor 29,659
4th Floor 12,645
5th - 22nd Floor 139,808
23rd Floor 6,833
24th Floor 6,833
25th Floor 6,168
Total Square Feet: 247,105
12 INVESTMENT SUMMARY - HYATT REGENCY Section3 FINANCIAL Analysis
13 FINANCIAL ANALYSIS - HYATT REGENCY PRO FORMA YEAR 1 - HYATT Financial Assumptions Summary PROPERTY DETAIL Fiscal Year Start 9/1/18 Income Assumptions Fiscal Year End 8/31/19 1. Fiscal Year 1 ADR Growth: 7% - this is consistent with the Strathallan, Hilton Garden Inn, and [1] Average Daily Rate 153.63 other first-class hotels in Rochester. Occupied Rooms 77,340 a. The Hyatt Regency also experienced significant ADR growth from 2016 to 2017 due to the Available Rooms 125,195 $18,000,000 renovation completed in October 2017. Occupancy Percentage 61.78% b. The Fiscal Year 1 ADR growth is in-line with owner’s expectations and achieves the goal set Rev PAR 94.90 by management as a result of the renovation. c. ADR in 2016 was $108.14 vs. $134.06 in 2017, a 23.9% increase year-over-year. REVENUE $ % Rooms Department 11,881,358 59.1% 2. F&B for the trailing 12 month period ending February 2018 totaled $5,064,293. Ownership [2] Food & Beverage Department 7,946,027 39.5% anticipates full year 2018 F&B revenue to total $6,553,846. Other Operated Departments 272,167 1.4% TOTAL REVENUE 20,099,551 100.0% a. This increase is due to in-place events and rooms bookings reported as of April 2018, which is $2,317,643 or 35% of annual fiscal year 1 budget. DEPARTMENTAL EXPENSES b. Note, in the Trailing-12 February 2018 period, the hotel did not have a working kitchen or [4] Rooms Department 4,752,543 40.0% restaurant from December 2016 through September 2017. [5] Food & Beverage Department 3,973,013 50.0% c. In addition, management expects F&B Revenue to make up 40% of total revenue, which is [6] Other Operated Department 150,747 55.4% in-line with historical average. TOTAL DEPARTMENTAL EXPENSES 8,876,303 44.2% d. The growth in F&B is a result of continued focus on events with 250-guests and greater, and the re-negotiation of legacy corporate event contracts. TOTAL DEPARTMENTAL INCOME 11,223,248 55.8% e. The Hyatt Regency downtown has the largest event space in Rochester outside of the Convention Center and can hold up to 750 sit-down guests. UNDISTRIBUTED OPERATING EXPENSES [7] Administrative & General 1,004,978 5.0% 3. Non-Operated Income: includes gross rent from Morton’s Steakhouse. [8] Sales & Marketing 1,507,466 7.5% [9] Repairs & Maintenance 1,004,978 5.0% Expense Assumptions: [10] Utilities 1,306,471 6.5% 4. Rooms Department: presumed 40% of Total Room Revenue, in-line with historical. [12] Royalty 752,988 3.7% TOTAL UNDISTRIBUTED EXPENSES 5,576,881 27.7% 5. Food & Beverage: presumed 50% of total F&B Revenue, in-line with historical. 6. Other Operated Department: presumed 55.4%, in-line with historical. GROSS OPERATING PROFIT 5,646,368 28.1% 7. Admin & General: presumed [3] NON - OPERATED INCOME 320,212 1.6% 8. Sales & Marketing: presumed 7.5%. Increasing revenue will drive this expense down as a INCOME BEFORE FIXED CHARGES 5,966,580 29.7% proportion of Total Revenue, as revenue is increasing year-over-year. 9. Repairs & Maintenance: presumed 5%, in-line with historical. FIXED COSTS 10. Utilities: presumed 6.5%, in-line with historical. [11] Management Fees 602,987 3.0% 11. Management Fee: presumed 3%, in-line with industry standards for similar hotels. Insurance 127,728 0.6% Leases 68,196 0.3% 12. Royalty: 5% on rooms and 2% on F&B through 12/31/2021, per the Amended Franchise Property Taxes 669,500 3.3% Agreement. TOTAL FIXED COSTS 1,468,411 7.3%
NOI (EBITDA) 4,498,169 22%
CAPEX RESERVE 401,991 2.00%
NET CASH FLOW 4,096,178 20.4%
14 FINANCIAL ANALYSIS - HYATT REGENCY TRAILING 12 - HYATT REGENCY
ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL PROPERTY DETAIL APR-17 MAY-17 JUN-17 JUL-17 AUG-17 SEP-17 OCT-17 NOV-17 DEC-17 JAN-18 FEB-18 MAR-18 TOTAL Average Daily Rate 108.28 123.62 118.96 112.39 123.04 115.41 142.50 139.83 133.93 129.35 128.74 138.12 126.93 Occupied Rooms 3764 4,489 4,756 4,854 6,128 4,612 6,772 5,815 3,338 3,364 4,087 4,567 56,546 Available Rooms 10,140 10,478 10,140 10,478 10,478 10,140 10,478 10,290 10,633 10,633 9,604 10,633 124,125 [1} Occupancy Percentage 37.12% 42.84% 46.90% 46.33% 58.48% 45.48% 64.63% 56.51% 31.39% 31.64% 42.56% 42.95% 45.56% Rev PAR 40.19 52.96 55.79 52.06 71.96 52.49 92.10 79.02 42.04 40.92 54.78 59.32 57.82
REVENUE Rooms Department 407,571 554,943 565,757 545,523 753,999 532,271 964,999 813,129 447,059 435,142 526,147 630,788 7,177,328 55.7% [2] Food & Beverage Department 300,027 419,768 343,428 156,872 260,778 592,797 837,546 606,048 596,822 406,751 363,486 544,564 5,428,887 42.1% Other Operated Departments 16,497 21,178 29,979 16,370 30,729 17,800 27,421 33,818 22,116 30,315 16,396 22,602 285,221 2.2% TOTAL REVENUE 724,095 995,889 939,164 718,765 1,045,506 1,142,868 1,829,966 1,452,995 1,065,997 872,208 906,029 1,197,954 12,891,436 100.0%
DEPARTMENTAL EXPENSES Rooms Department 131,837 181,122 196,656 292,669 333,698 263,268 318,704 349,805 190,032 190,645 175,320 250,340 2,874,096 40.0% Food & Beverage Department 180,241 246,606 255,803 192,296 258,373 289,464 352,918 328,230 228,748 207,365 190,952 299,208 3,030,204 55.8% Other Operated Department 34,113 38,691 35,440 43,202 32,986 29,809 36,551 35,190 31,812 41,130 44,216 37,714 440,854 154.6% TOTAL DEPARTMENTAL EXPENSES 346,191 466,419 487,899 528,167 625,057 582,541 708,173 713,225 450,592 439,140 410,488 587,262 6,345,154 49.2%
TOTAL DEPARTMENTAL INCOME (LOSS) 377,904 529,470 451,265 190,598 420,449 560,327 1,121,793 739,770 615,405 433,068 495,541 610,692 6,546,282 50.8%
UNDISTRIBUTED OPERATING EXPENSES Administrative & General 102,238 148,727 162,693 134,418 176,562 154,591 203,096 128,945 144,600 119,049 139,992 166,561 1,781,472 13.8% Sales & Marketing 84,912 92,360 102,777 109,838 120,068 118,343 89,742 109,987 95,118 90,052 103,257 110,777 1,227,231 9.5% Repairs & Maintenance 55,562 45,601 61,829 56,369 68,666 49,552 55,221 61,852 59,992 56,755 48,671 61,618 681,688 5.3% Utilities 54,579 69,875 53,353 71,820 60,785 64,366 60,256 57,724 68,803 70,540 63,973 69,802 765,876 5.9% TOTAL UNDISTRIBUTED EXPENSES 297,291 356,563 380,652 372,445 426,081 386,852 408,315 358,508 368,513 336,396 355,893 408,758 4,456,267 34.6%
GROSS OPERATING PROFIT (LOSS) 80,613 172,907 70,613 -181,847 -5,632 173,475 713,478 381,262 246,892 96,672 139,648 201,934 2,090,015 16.2%
NON - OPERATED INCOME 10000 10,000 10,000 10,000 10,000 10,000 10,000 26,667 26,667 26,667 26,667 26,667 203,335 1.6%
INCOME BEFORE FIXED CHARGES 90,613 182,907 80,613 -171,847 4,368 183,475 723,478 407,929 273,559 123,339 166,315 228,601 2,293,350 17.8%
FIXED COSTS Management Fees 0 0 0 0 0 0 0 0 0 26166 27,181 35,939 89,286 0.7% Insurance 10,961 10,961 12,409 10,993 10,993 10,993 10,993 32,979 10,644 10,644 10,644 8,962 152,176 1.2% Leases 5,551 17,978 34,352 6,359 5,437 5,437 10,404 11,668 7,176 12,249 6,768 5,490 128,869 1.0% Property Taxes 46,788 46,788 46,788 0 106,473 53,237 53,237 53,237 53,237 54,560 54,560 54,560 623,465 4.8% TOTAL FIXED COSTS 63,300 75,727 93,549 17,352 122,903 69,667 74,634 97,884 71,057 103,619 99,153 104,951 993,796 7.7%
NOI (EBITDA) 27,313 107,180 -12,936 -189,199 -118,535 113,808 648,844 310,045 202,502 19,720 67,162 123,650 1,299,554 10.1%
Trailing 12 Notes 1. Renovation construction commenced in December 2016 and completed in October 2017, during which time the hotel operated at 50% capacity, with no F&B outlets. 2. The hotel did not have a working kitchen or restaurant during the renovation.
15 FINANCIAL ANALYSIS - HYATT REGENCY TRAILING 3-MONTHS & PRO FORMA YEAR 1 - HYATT REGENCY
PROPERTY DETAIL ACTUAL ACTUAL ACTUAL FORECAST FORECAST FORECAST FORECAST FORECAST FORECAST FORECAST FORECAST FORECAST YTD 2018 JAN-18 FEB-18 MAR-18 APR-18 MAY-18 JUN-18 JUL-18 AUG-18 SEP-18 OCT-18 NOV-18 DEC-18 Average Daily Rate 129.35 128.74 138.12 145.00 150.00 155.00 155.00 150.00 148.00 156.00 152.00 143.00 147.69 Occupied Rooms 3,364 4,087 4,567 6,812 7,177 6,699 6,667 7,156 6,627 7,156 6,987 4,583 71,881 Available Rooms 10,633 9,604 10,633 10,290 10,633 10,290 10,633 10,633 10,290 10,633 10,290 10,633 125,195 Occupancy Percentage 31.64% 42.56% 42.95% 66.20% 67.50% 65.10% 62.70% 67.30% 64.40% 67.30% 67.90% 43.10% 57.42% Rev PAR 40.92 54.78 59.32 95.99 101.25 100.91 97.19 100.95 95.31 104.99 103.21 61.63 84.80
REVENUE Rooms Department 435,142 526,147 630,788 987,737 1,076,591 1,038,312 1,033,368 1,073,401 980,760 1,116,337 1,062,010 655,344 10,615,939 60.0% Food & Beverage Department 406,751 363,486 544,564 491,544 627,534 565,135 478,724 575,934 591,783 808,790 650,888 651,078 6,756,208 38.2% Other Operated Departments 30,315 16,396 22,602 26,967 30,778 28,672 28,171 29,074 29,725 29,826 31,330 19,948 323,804 1.8% TOTAL REVENUE 872,208 906,029 1,197,954 1,506,248 1,734,903 1,632,119 1,540,263 1,678,409 1,602,268 1,954,953 1,744,228 1,326,369 17,695,951 100.0%
DEPARTMENTAL EXPENSES Rooms Department 190,645 175,320 250,340 395,095 430,637 415,325 413,347 429,361 392,304 446,535 424,804 262,137 4,225,850 39.8% Food & Beverage Department 207,365 190,952 299,208 245,772 313,767 282,567 239,362 287,967 295,891 404,395 325,444 325,539 3,418,229 50.6% Other Operated Department 41,130 44,216 37,714 11,297 13,012 12,241 11,552 12,588 12,017 14,662 13,082 9,948 233,458 72.1% TOTAL DEPARTMENTAL EXPENSES 439,140 410,488 587,262 652,164 757,415 710,133 664,261 729,915 700,213 865,592 763,330 597,624 7,877,537 44.5%
TOTAL DEPARTMENTAL INCOME (LOSS) 433,068 495,541 610,692 854,084 977,488 921,986 876,002 948,494 902,056 1,089,361 980,898 728,745 9,818,415 55.5%
UNDISTRIBUTED OPERATING EXPENSES Administrative & General 119,049 139,992 59,898 75,312 86,745 81,606 77,013 83,920 80,113 97,748 87,211 66,318 1,054,927 6.0% Sales & Marketing 90,052 103,257 89,847 112,969 130,118 122,409 115,520 125,881 120,170 146,621 130,817 99,478 1,387,138 7.8% Repairs & Maintenance 56,755 48,671 59,898 75,312 86,745 81,606 77,013 83,920 80,113 97,748 87,211 66,318 901,312 5.1% Utilities 70,540 63,973 77,867 97,906 112,769 106,088 100,117 109,097 104,147 127,072 113,375 86,214 1,169,164 6.6% Royalty 29,892 33,577 42,431 59,218 66,380 63,218 61,243 65,189 60,874 71,993 66,118 45,789 665,921 3.8% TOTAL UNDISTRIBUTED EXPENSES 366,288 389,470 329,940 420,717 482,757 454,927 430,906 468,007 445,418 541,181 484,733 364,117 5,178,462 29.3%
GROSS OPERATING PROFIT (LOSS) 66,780 106,071 280,752 433,367 494,731 467,059 445,096 480,487 456,638 548,180 496,165 364,628 4,639,953 26.2%
NON - OPERATED INCOME 16,667 16,667 16,667 16,667 16,667 16,667 19,679 40,667 36,667 36,667 41,867 44,667 320,212 1.8%
INCOME BEFORE FIXED CHARGES 83,447 122,738 297,419 450,034 511,398 483,726 464,774 521,153 493,304 584,846 538,032 409,295 4,960,165 28.0%
FIXED COSTS Management Fees 26,166 27,181 35,939 45,187 52,047 48,964 46,208 50,352 48,068 58,649 52,327 39,791 530,879 3.0% Insurance 10,644 10,644 10,644 10,644 10,644 10,644 10,644 10,644 10,644 10,644 10,644 10,644 127,728 0.7% Leases 12,249 6,768 5,683 5,683 5,683 5,683 5,683 5,683 5,683 5,683 5,683 5,683 75,847 0.4% Property Taxes 55,792 55,792 55,792 55,792 55,792 55,792 55,792 55,792 55,792 55,792 55,792 55,792 669,500 3.8% TOTAL FIXED COSTS 104,851 100,385 108,057 117,306 124,166 121,082 118,327 122,471 120,187 130,767 124,446 111,910 1,403,954 7.9%
NOI (EBITDA) -21,404 22,353 189,362 332,728 387,232 362,643 346,448 398,682 373,118 454,079 413,586 297,385 3,556,211 20.1%
*Year 1 of Ownership begins 9/01/18
16 FINANCIAL ANALYSIS - HYATT REGENCY TRAILING 3-MONTHS & PRO FORMA YEAR 1 (CONTINUED) - HYATT REGENCY
FORECAST FORECAST FORECAST FORECAST FORECAST FORECAST FORECAST FORECAST FULL PROPERTY DETAIL JAN-19 FEB-19 MAR-19 APR-19 MAY-19 JUN-19 JUL-19 AUG-19 YEAR 1 OF OWNERSHIP Average Daily Rate 138.41 137.75 150.86 155.15 160.50 165.85 165.85 160.50 153.63 Occupied Rooms 5,540 5,695 6,242 6,812 7,177 6,699 6,667 7,156 77,340 Available Rooms 10,633 9,604 10,633 10,290 10,633 10,290 10,633 10,633 125,195 Occupancy Percentage 52.10% 59.30% 58.70% 66.20% 67.50% 65.10% 62.70% 67.30% 61.78% Rev PAR 72.11 81.68 88.55 102.71 108.34 107.97 103.99 108.02 94.90
REVENUE Rooms Department 766,747 784,500 941,590 1,056,879 1,151,953 1,110,994 1,105,704 1,148,539 11,881,359 59.1% Food & Beverage Department 498,386 509,925 612,034 686,971 748,769 722,146 718,708 746,551 7,946,027 39.5% Other Operated Departments 15,335 15,690 18,832 21,138 23,039 22,220 22,114 22,971 272,167 1.4% TOTAL REVENUE 1,280,468 1,310,115 1,572,456 1,764,987 1,923,761 1,855,361 1,846,525 1,918,061 20,099,553 100.0%
DEPARTMENTAL EXPENSES Rooms Department 306,699 313,800 376,636 422,751 460,781 444,398 442,282 459,416 4,752,544 40.0% Food & Beverage Department 249,193 254,963 306,017 343,486 374,385 361,073 359,354 373,275 3,973,014 50.0% Other Operated Department 9,604 9,826 11,793 13,237 14,428 13,915 13,849 14,385 150,747 55.4% TOTAL DEPARTMENTAL EXPENSES 565,495 578,589 694,446 779,474 849,594 819,386 815,484 847,077 8,876,304 44.2%
TOTAL DEPARTMENTAL INCOME (LOSS) 714,973 731,527 878,009 985,513 1,074,167 1,035,974 1,031,041 1,070,984 11,223,249 55.8%
UNDISTRIBUTED OPERATING EXPENSES Administrative & General 64,023 65,506 78,623 88,249 96,188 92,768 92,326 95,903 1,004,978 5.0% Sales & Marketing 96,035 98,259 117,934 132,374 144,282 139,152 138,489 143,855 1,507,466 7.5% Repairs & Maintenance 64,023 65,506 78,623 88,249 96,188 92,768 92,326 95,903 1,004,978 5.0% Utilities 83,230 85,158 102,210 114,724 125,044 120,598 120,024 124,674 1,306,471 6.5% Royalty 48,305 49,424 59,320 66,583 72,573 69,993 69,659 72,358 752,988 3.7% TOTAL UNDISTRIBUTED EXPENSES 355,617 363,851 436,710 490,180 534,276 515,279 512,825 532,693 5,576,881 27.7%
GROSS OPERATING PROFIT (LOSS) 359,355 367,676 441,300 495,333 539,891 520,695 518,216 538,292 5,646,368 28.1%
NON - OPERATED INCOME 20,043 20,043 20,043 20,043 20,043 20,043 20,043 20,043 320,212 1.6%
INCOME BEFORE FIXED CHARGES 379,398 387,719 461,343 515,376 559,935 540,738 538,259 558,335 5,966,580 29.7%
FIXED COSTS Management Fees 38,414 39,303 47,174 52,950 57,713 55,661 55,396 57,542 602,987 3.0% Insurance 10,644 10,644 10,644 10,644 10,644 10,644 10,644 10,644 127,728 0.6% Leases 5,683 5,683 5,683 5,683 5,683 5,683 5,683 5,683 68,196 0.3% Property Taxes 55,792 55,792 55,792 55,792 55,792 55,792 55,792 55,792 669,500 3.3% TOTAL FIXED COSTS 110,533 111,422 119,292 125,068 129,831 127,779 127,514 129,660 1,468,411 7.3%
NOI (EBITDA) 268,866 276,297 342,051 390,307 430,103 412,959 410,744 428,674 4,498,169 22.4%
17 FINANCIAL ANALYSIS - HYATT REGENCY HISTORICAL FINANCIAL SUMMARY - HYATT REGENCY
PROPERTY DETAIL 2016 2017 2018 FULL YEAR 1 ACTUAL ACTU7L BUDGET OF OWNERSHIP Fiscal Year Start 1/1/16 1/1/17 1/1/18 9/1/18 Fiscal Year End 12/31/16 12/31/17 12/31/18 8/31/19 Average Daily Rate 108.14 122.58 147.71 153.63 Occupied Rooms 71,678 53,031 73,556 77,340 Available Rooms 123,370 123,675 125,195 125,195 Occupancy Percentage 58.10% 42.88% 58.75% 61.78% Rev PAR 62.87 52.56 86.79 94.90
REVENUE $ % $ % $ % $ % Rooms Department 6,579,626 62.6% 6,500,797 58.1% 10,865,141 61.2% 11,881,358 59.1% Food & Beverage Department 3,578,336 34.0% 4,428,210 39.6% 6,553,846 36.9% 7,946,027 39.5% Other Operated Departments 360,282 3.4% 263,079 2.4% 325,563 1.8% 272,167 1.4% TOTAL REVENUE 10,518,244 100.0% 11,192,086 100.0% 17,744,550 100.0% 20,099,551 100.0%
DEPARTMENTAL EXPENSES Rooms Department 2,141,277 32.5% 2,722,407 41.9% 4,327,506 39.8% 4,752,543 40.0% Food & Beverage Department 2,503,651 70.0% 2,695,675 60.9% 3,290,121 50.2% 3,973,013 50.0% Other Operated Department 363,577 100.9% 397,074 150.9% 205,093 63.0% 150,747 55.4% TOTAL DEPARTMENTAL EXPENSES 5,008,505 47.6% 5,815,156 52.0% 7,822,721 44.1% 8,876,303 44.2%
TOTAL DEPARTMENTAL INCOME 5,509,739 52.4% 5,376,930 48.0% 9,921,829 55.9% 11,223,248 55.8%
UNDISTRIBUTED OPERATING EXPENSES Administrative & General 1,257,149 12.0% 1,287,703 11.5% 1,057,357 6.0% 1,004,978 5.0% Sales & Marketing 959,641 9.1% 1,228,881 11.0% 1,390,782 7.8% 1,507,466 7.5% Repairs & Maintenance 458,749 4.4% 656,110 5.9% 903,742 5.1% 1,004,978 5.0% Utilities 605,640 5.8% 725,043 6.5% 1,172,323 6.6% 1,306,471 6.5% Royalty 502,407 4.8% 388,418 3.5% 674,334 3.8% 752,988 3.7% TOTAL UNDISTRIBUTED EXPENSES 3,783,586 36.0% 4,286,155 38.3% 5,198,538 29.3% 5,576,881 27.7%
GROSS OPERATING PROFIT 1,726,153 16.4% 1,090,775 9.7% 4,723,291 26.6% 5,646,368 28.1%
NON - OPERATED INCOME 0 0.0% 123,333 1.1% 320,212 1.8% 320,212 1.6%
INCOME BEFORE FIXED CHARGES 1,726,153 16.4% 1,214,108 10.8% 5,043,503 28.4% 5,966,580 29.7%
FIXED COSTS Management Fees 0 0.0% 31,893 0.3% 532,336 3.0% 602,987 3.0% Insurance 269,417 2.6% 173,082 1.5% 127,728 0.7% 127,728 0.6% Leases 55,742 0.5% 121,017 1.1% 75,847 0.4% 68,196 0.3% Property Taxes 653,413 6.2% 600,150 5.4% 669,500 3.8% 669,500 3.3% TOTAL FIXED COSTS 978,572 9.3% 926,142 8.3% 1,405,411 7.9% 1,468,411 7.3%
NOI (EBITDA) 747,581 7.1% 287,966 2.6% 3,638,092 20.5% 4,498,169 22.4%
2016-2017 P&L Notes 1. Renovation construction commenced in December 2016 and completed in October 2017, during which time the hotel operated at 50% capacity, with no F&B outlets. 2. The hotel did not have a working kitchen or restaurant during the renovation.
18 FINANCIAL ANALYSIS - HYATT REGENCY PRO FORMA FISCAL YEAR 1 THROUGH 5 - HYATT REGENCY
PROPERTY DETAIL FULL YEAR 1 FISCAL FISCAL FISCAL FISCAL OF OWNERSHIP YEAR 2 YEAR 3 YEAR 4 YEAR 5 Fiscal Year Start 9/1/18 9/1/19 9/1/20 9/1/21 9/1/22 Fiscal Year End 8/31/19 8/31/20 8/31/21 8/31/22 8/31/23 Average Daily Rate 153.63 162.84 172.61 182.97 193.95 Occupied Rooms 77,340 77,340 77,340 77,340 77,340 Available Rooms 125,195 125,195 125,195 125,195 125,195 Occupancy Percentage 61.78% 61.78% 61.78% 61.78% 61.78% Rev PAR 94.90 100.60 106.63 113.03 119.81
REVENUE Rooms Department 11,881,358 59.1% 12,594,239 60.0% 13,349,894 61.0% 14,150,887 61.9% 14,999,941 62.8% Food & Beverage Department 7,946,027 39.5% 8,104,947 38.6% 8,267,046 37.7% 8,432,387 36.9% 8,601,035 36.0% Other Operated Departments 272,167 1.4% 277,610 1.3% 283,163 1.3% 288,826 1.3% 294,602 1.2% TOTAL REVENUE 20,099,551 100.0% 20,976,797 100.0% 21,900,102 100.0% 22,872,100 100.0% 23,895,578 100.0%
DEPARTMENTAL EXPENSES Rooms Department 4,752,543 40.0% 5,037,696 40.0% 5,339,957 40.0% 5,660,355 40.0% 5,999,976 40.0% Food & Beverage Department 3,973,013 50.0% 4,052,474 50.0% 4,133,523 50.0% 4,216,193 50.0% 4,300,517 50.0% Other Operated Department 150,747 55.4% 157,326 56.7% 164,251 58.0% 171,541 59.4% 179,217 60.8% TOTAL DEPARTMENTAL EXPENSES 8,876,303 44.2% 9,247,495 44.1% 9,637,731 44.0% 10,048,089 43.9% 10,479,710 43.9%
TOTAL DEPARTMENTAL INCOME 11,223,248 55.8% 11,729,302 55.9% 12,262,371 56.0% 12,824,011 56.1% 13,415,867 56.1%
UNDISTRIBUTED OPERATING EXPENSES Administrative & General 1,004,978 5.0% 1,048,840 5.0% 1,095,005 5.0% 1,143,605 5.0% 1,194,779 5.0% Sales & Marketing 1,507,466 7.5% 1,573,260 7.5% 1,642,508 7.5% 1,715,408 7.5% 1,792,168 7.5% Repairs & Maintenance 1,004,978 5.0% 1,048,840 5.0% 1,095,005 5.0% 1,143,605 5.0% 1,194,779 5.0% Utilities 1,306,471 6.5% 1,363,492 6.5% 1,423,507 6.5% 1,486,687 6.5% 1,553,213 6.5% Royalty 752,988 3.7% 791,811 3.8% 832,836 3.8% 989,108 4.3% 1,158,027 4.8% TOTAL UNDISTRIBUTED EXPENSES 5,576,881 27.7% 5,826,242 27.8% 6,088,860 27.8% 6,478,413 28.3% 6,892,966 28.8%
GROSS OPERATING PROFIT 5,646,368 28.1% 5,903,059 28.1% 6,173,511 28.2% 6,345,599 27.7% 6,522,901 27.3%
NON - OPERATED INCOME 320,212 1.6% 326,616 1.6% 333,148 1.5% 339,811 1.5% 346,608 1.5%
INCOME BEFORE FIXED CHARGES 5,966,580 29.7% 6,229,676 29.7% 6,506,659 29.7% 6,685,410 29.2% 6,869,509 28.7%
FIXED COSTS Management Fees 602,987 3.0% 629,304 3.0% 657,003 3.0% 686,163 3.0% 716,867 3.0% Insurance 127,728 0.6% 10,644 0.1% 10,644 0.0% 10,644 0.0% 10,644 0.0% Leases 68,196 0.3% 69,560 0.3% 70,951 0.3% 72,370 0.3% 73,818 0.3% Property Taxes 669,500 3.3% 682,890 3.3% 696,548 3.2% 710,479 3.1% 724,688 3.0% TOTAL FIXED COSTS 1,468,411 7.3% 1,392,398 6.6% 1,435,146 6.6% 1,479,656 6.5% 1,526,017 6.4%
NOI (EBITDA) 4,498,169 22.4% 4,837,278 23.1% 5,071,513 23.2% 5,205,754 22.8% 5,343,492 22.4%
CAPEX RESERVE 401,991 2.0% 471,978 2.3% 547,503 2.5% 628,983 2.8% 716,867 3.0%
NET CASH FLOW 4,096,178 20.4% 4,365,300 20.8% 4,524,011 20.7% 4,576,771 20.0% 4,626,624 19.4%
YEARS 2-5 ASSUMPTIONS ADR Growth 6% FNB Growth 2% Management Fee 3.0% Inflation 2.0% 19 FINANCIAL ANALYSIS - HYATT REGENCY Rochester Riverside Doubletree Rochester Marriott Rochester Airport Holiday Inn Rochester Downtown Hilton Garden Inn Rochester Downtown
STR COMPETITIVE SET 2016 2017 2018 SEP SEP JUL JUL FEB FEB JAN JAN JUN JUN
Hotel Address Rooms Open Date APR APR DEC DEC OCT OCT AUG AUG MAY MAY NOV NOV MAR MAR Hyatt Regency Rochester 125 E Main St, Rochester, NY 14604 343 MAR-1992 • • • • • • • • • • • • • • • • • • • • • • • • [1] Rochester Riverside 120 E Main St, Rochester, NY 14604 460 JUN-1970 • • • • • • • • • • • • • • • • • • • • • • • • Doubletree Rochester 1111 Jefferson Rd, Rochester, NY 14623 248 SEP-1985 • • • • • • • • • • • • • • • • • • • • • • • • Marriott Rochester Airport 1890 W Ridge Rd, Rochester, NY 14615 210 OCT-1979 • • • • • • • • • • • • • • • • • • • • • • • • Holiday Inn Rochester Downtown 220 S Broadway, Rochester, MN 55904 217 JUN-1969 • • • • • • • • • • • • • • • • • • • • • • • • Hilton Garden Inn Rochester Downtown 155 E Main St, Rochester, NY 14604 106 MAR-2015 • • • • • • • • • • • • • • • • • • • • • • • • [1] The Rochester Riverside is also owned by Seller and is an outlier in the competitive set. The hotel has not been renovated, as the Data Received: • = Monthly & Daily = Monthly Only Seller has plans to convert the property into a multi-family development.
2018 YEAR TO DATE RUNNING 3 MONTH RUNNING 12 MONTH OCCUPANCY (%) JAN FEB MAR 2016 2017 2018 2016 2017 2018 2016 2017 2018 My Property 31.1 40.9 42.7 51.8 28.0 38.1 51.8 28.0 38.1 64.4 52.3 44.5 Competitive Set 37.5 43.4 47.4 45.9 48.8 42.7 45.9 48.8 42.7 52.6 55.1 53.5
2018 YEAR TO DATE RUNNING 3 MONTH RUNNING 12 MONTH ADR JAN FEB MAR 2016 2017 2018 2016 2017 2018 2016 2017 2018 My Property 131.54 134.05 139.03 99.05 107.67 135.27 99.05 107.67 135.27 108.86 110.32 127.83 Competitive Set 104.38 106.21 109.63 96.58 99.80 106.97 96.58 99.80 106.97 98.89 100.66 107.98
2018 YEAR TO DATE RUNNING 3 MONTH RUNNING 12 MONTH REVPAR JAN FEB MAR 2016 2017 2018 2016 2017 2018 2016 2017 2018 My Property 40.87 54.78 59.32 51.31 30.10 51.56 51.31 30.10 51.56 70.06 57.67 56.93 Competitive Set 39.11 46.13 51.98 44.32 48.74 45.73 44.32 48.74 45.73 52.01 55.45 57.80
20 ROCHESTER HOTEL PORTFOLIO ACCOMMODATIONS & AMENITIES
343 guest rooms, including 6 suites, 190 kings, 148 queen/queen rooms, »rooms with river views and 12 ADA accessible rooms.
Valet Parking available $17 per car, per day with unlimited in/out privileges»
Over night parking in the adjoining indoor covered garage. $12 per car, per» day with unlimited in/out privileges.
Complimentary shuttle to/from (ROC) Rochester International Airport and» other transportation hubs within 3 miles.
Premier Dining and entertainment amenities including: The Street Restaurant» and Bar: Serving breakfast, Full Starbucks Cafe, Morton’s Steakhouse, a 24-Hour market, and the Center City Lounge and Terrace.
Fitness Amenities include the 24-hour Hyatt StayFit gym, a Glass enclosed» 25-meter indoor pool with skylight and outdoor sun deck, Jogging and walking paths along the Genesee River.
Connected via an enclosed sky-way system to the Joseph A. Floreano Rochester» Riverside Convention Center offering over 100,000 square feet of exhibit and meeting space.
» Beautifully renovated rooms and lobby/reception area.
Elegant Grand Ballroom accommodating up to 1,000 people. The Grand Ballroom» is the largest event space in Downtown Rochester outside of the Convention Center.
» Regency Ballroom accommodating up to 300 guests. » Private executive meeting spaces.
21 FEATURES & AMENITIES - HYATT REGENCY ROOMS& SUITES
STANDARD • One King or Two Queen Beds • 350 Square Feet of Space • Modern Décor ACCESSIBLE • One King Bed • 350 Square Feet of Space • Modern Décor with ADA Amenities BUSINESS PLAN • One King Bed • 350 Square Feet of Space • Breakfast for One, Bottled Water HIGH FLOOR • One King or Two Queen Beds • 350 Square Feet of Space • City Views from Rochester’s Tallest Hotel VIEW • One King or Two Queen Beds • 350 Square Feet of Space • Panoramic Views of Genesee River SUITE • One Hyatt Grand King Bed™ • Queen-Size Sleeper Sofa & 2-Bedroom Options • 700-2100 S.F. with separate bedroom and living spaces
22 FEATURES & AMENITIES - HYATT REGENCY 343 Spacious Rooms and suites featuring sleek wood flooring, crisp Hyatt Grand Beds™, and premium travel amenities.
23 FEATURES & AMENITIES - HYATT REGENCY Breathtaking Panoramic Views of Downtown Rochester and the Genesee River
24 FEATURES & AMENITIES - HYATT REGENCY FULLY RENOVATED HOTEL & LOBBY
25 FEATURES & AMENITIES - HYATT REGENCY FITNESS CENTER & HEATED POOL
Hyatt Regency Rochester offers each guest an opportunity to enhance their stay and keep active by using the fitness facilities. Stay at the top of your game at the 24-hour Gym. The Hyatt’s fully-equipped fitness center offers a bright, inviting environment with a wall of windows with fantastic views.
Dive into the soothing waters of the indoor pool and feel recharged. Adjacent to the newly expanded 24-hour Gym, you can work out and refresh yourself with a swim afterwards, or swim laps as part of your routine.
26 FEATURES & AMENITIES - HYATT REGENCY HYATT BOOKING REPORT SUMMARY BALLROOMS & BOARDROOMS (as of 4/3/2018) Host Unforgettable Events in Rochester, NY WEDDING STATS » As of the April 2018 booking report, $2,317,643 The Ballrooms and Boardrooms are Located on Second Floor in F&B revenue is booked for 2018, which is 35% of and Encompass 29,659 Square-Feet of Newly Renovated Event Space. budget. This does not include revenue from Street Craft Kitchen & Bar, or the Center City Terrace. Host, motivate, and inspire ideas in Hyatt’s ornate conference table. Fit a smaller group into the » Current Wedding guest room blocks on the books 29,659-square-foot function space for sports Regency Ballroom. Built for intimate occasions, is 136, for $461,433 revenue, a 167% increase. celebrations, bar/bat mitzvahs, civic gatherings, with a roster that doesn’t surpass 120 people, the » Current 2018 average wedding ADR (not galas, reunions, and birthday parties. Depart from Regency Ballroom offers the perfect Goldilocks- including suites) is $157. ordinary event venues in Rochester, New York; zone for wedding venues at Hyatt Regency » 2017 Wedding guest room block revenue seek out extraordinary exhibit halls, efficient Rochester: size, décor, lighting, and even the actualized $172,916 revenue at $140 ADR. boardrooms, and unforgettable ballrooms. Hyatt 1,500-square-foot pre-function space, is just right. » Weddings blocks typically actualize above Regency Rochester offers function space and original expectations via overblock and past cutoff effective foyers with versatile catering, expert staff, CHRISTA AND MORGAN ROOM strategies. and staggeringly high ceilings, complemented Each of these rooms is just shy of 1,000 square feet, » Easter through Thanksgiving, every Saturday by crystal chandeliers. Greet guests at the door but the character in their décor and dimensions evening Grand Ballroom space is booked other than 1 after their ride from Rochester Airport on the is enough to make up for it. Prepare a cocktail July date. complimentary hotel shuttle, walk across the sky reception of up to 90 people, or split the space for » This year’s wedding event minimum went up bridge to reach the Rochester Convention Center, segmented training sessions using the convenient from $20,000 to 23,000. 2019 wedding minimums and grab a light snack from our Scene on Main Bar air walls. The Christa Room offers an additional are as high as $28,500. after all is said and done. foyer, while the Morgan Room offers an alcove. » The hotel actualized 20 wedding events in 2017 for $458,404 revenue. 2018 has 35 wedding events GRAND BALLROOM EASTMAN & STRONG on the books for $794,143 not including cash bar Mix and match the seating layouts of this massive BOARDROOM sales. space totaling almost 9,000 square feet, with an Take a seat around the conference table, a sturdy, additional 4,000 square feet of pre-function spacious centerpiece that enhances productivity space. Divide the facility into eight sections for for any corporate refresher, brainstorming ornate, white tablecloth banquets, rehearsal session, or presentation. Each boardroom is airy ADDITIONAL STATS dinners, and wedding receptions. The Grand for its modest size of 364 square feet, and the Ballroom is Hyatt Regency’s largest facility on- table seats up to a dozen coworkers. » Group pace is up 976 room nights year over site, forming the crux of Rochester’s ornate year at +14.0%. venues and featuring 16-foot ceilings and large ON-SITE CATERING » Group ADR is pacing up by $4.08 year over year function space for up to 1,000 people. Discover the perfect blend of location, style, at +3.0%. and amenities at Hyatt Regency Rochester. Add the crowning touch to your meeting, corporate » Group revenue pace is up $154,277 year over REGENCY BALLROOM year at +18.0%. At almost a quarter of the size to the Grand event or social occasion with a memorable meal Ballroom, Regency takes the elegant décor, crafty prepared by the innovative catering staff. From » Current group rooms pipeline ADR is $40.93 cocktail seating, and ornate lighting and delivers the simplicity of afternoon snack breaks to above last year. it all in miniature. Host 255 theater-style, 160 formal white glove service, the newly remodeled schoolroom-style, or 50 around the hardwood banquet facilities provide the perfect setting whether you require seating for 750 or for eight.
27 BALLROOMS & BOARDROOMS - HYATT REGENCY Hyatt Regency has the second largest event space In Rochester
28 BALLROOMS & BOARDROOMS - HYATT REGENCY ROOM CAPACITY CHART
Capacity Chart
Room Dimensions Room Size Room Name L x W x H Sq. Ft. Banquet Reception Theater Classroom Board Room U-Shape Hollow Square Exhibit Second Floor
GRAND BALLROOM* 126’ x 71’ x 16’ 8,693 750 1,000 1,000 600 - - 200 55 Section A 42’ x 24’ x 16’ 1,008 60 100 100 45 34 33 42 - Section B 42’ x 23’ x 16’ 966 60 95 100 45 34 33 42 - Section C 42’ x 24’ x 16’ 1,008 60 100 100 45 34 33 42 - Section D 43’ x 71’ x 16’ 3,050 240 315 300 180 90 90 90 - Section E 41’ x 24’ x 16’ 984 60 100 100 45 34 33 42 - Section F 41’ x 23’ x 16’ 943 60 95 100 45 34 33 42 - Section G L SHAPED ROOM 734 40 60 60 25 20 - - - GRAND FOYER 65’ x 23’ x 10’ 1,495 ------REGENCY BALLROOM* 71’ x 33’ x 10’ 2,343 180 300 210 150 50 50 80 14 Section A 24’ x 33’ x 10’ 792 60 100 70 45 22 22 30 - Section B 23’ x 33’ x 10’ 759 60 100 70 45 22 22 30 - Section C 23’ x 33’ x 10’ 792 60 100 70 45 22 22 30 - REGENCY FOYER 71’ x 13’ x 10’ 923 ------MORGAN ROOM 32’ x 26’ x 10’ 832 60 90 65 36 25 24 30 - Section A 16’ x 26’ x 10’ 416 24 45 30 15 14 15 15 - Section B 16’ x 26’ x 10’ 416 24 45 30 15 14 15 15 - MORGAN ALCOVE 17’ x 12’ x 10’ 204 ------CHRISTA ROOM 39’ x 25’ x 10’ 975 60 90 65 36 25 25 30 - Section A 19’ x 25’ x 10’ 475 24 45 30 15 14 15 15 - Section B 19’ x 25’ x 10’ 475 24 45 30 15 14 15 15 - CHRISTA FOYER 30’ x 15’ x 10’ 450 - 14 ------EASTMAN BOARDROOM 26’ x 14’ x 10’ 364 14 14 - - 14 - - - STRONG BOARDROOM 26’ x 14’ x 10 364 14 14 - - 14 - - - Fourth Floor**
CENTER CITY TERRACE 84’1” x 48’3” 4,032 - 75 ------CENTER CITY LOUNGE 40’ x 26’ 1,040 34 50 ------
29 BALLROOMS & BOARDROOMS - HYATT REGENCY FLOOR PLAN Second Floor