MARKET STUDY Proposed Hotel Brentwood BRENTWOOD, CALIFORNIA SUBMITTED TO:PROPOSED PREPARED BY: Ms. Peggy Berglund Suzanne R. Mellen, MAI, CRE, FRICS, ISHC City of Brentwood HVS Consulting & Valuation City Manager's Office Economic Development Division of TS Worldwide, LLC Division 100 Bush Street, Suite 1625 150 City Park Way San Francisco, California 94104 Brentwood, California 94513 +1 (415) 896-0868 +1 (925) 516-5187 January‐2020 January 9, 2020 Ms. Peggy Berglund City of Brentwood City Manager's Office Economic Development Division 150 City Park Way Brentwood, California 94513 HVS SAN FRANCISCO Re: Proposed Hotel Brentwood 100 Bush Street, Suite 1625 San Francisco, California 94104 Brentwood, California +1 (415) 896‐0868 HVS Reference: 2019021316 +1 (415) 896‐0516 FAX www.hvs.com Dear Ms. Berglund: Pursuant to your request, we herewith submit our study of the Brentwood hotel market. We have evaluated multiple potential hotel sites and analyzed hotel market conditions in the Brentwood, California, area. The results of our market research are presented in this report. We hereby certify that we have no undisclosed interest in the property, and our employment and compensation are not contingent upon our findings. This study is subject to the comments made throughout this report and to all assumptions and limiting conditions set forth herein. Sincerely, TS Worldwide, LLC Suzanne R. Mellen, MAI, CRE, FRICS, ISHC, Senior Managing Director - Practice Leader
[email protected], +1 (415) 268-0351 McKenna Luke, MAI, Director
[email protected], +1 (303) 704-2636 Superior results through unrivaled hospitality intelligence. Everywhere. Table of Contents SECTION TITLE PAGE 1. Executive Summary 5 Subject of the Market Study 5 Brentwood Market Overview and Conclusion 6 Summary of Hotel Market Trends 7 2.