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KENDALL RCG’S HOSPITALITY & LEISURE SPECIALTY PRACTICE OVERVIEW Kendall Realty Consulting Group (Kendall RCG)’s Hospitality & Leisure specialty practice offers clients a specialized practice focused on understanding the intricacies of hospitality-related assets, including hotels, resorts, golf courses, gaming, marinas, and other specialty property types. We offer property lenders, developers, investors, management firms and owners and their legal representation the unique blend of research-based analytics and hands-on valuation and performance expertise for which Kendall RCG is known. Kendall RCG Hospitality & Leisure’s consultation experience and skill have assisted our clients through engagements involving hundreds of hotels, resorts, golf courses and other hospitality-related real estate projects in nearly every state in the U.S., as well as the Caribbean, Mexico, South America, Israel, and Asia. With Kendall RCG Hospitality & Leisure’s comprehensive market supply and demand research and thorough analysis, clients receive reliable opinions in a variety of report options – from the most basic “market snapshot” to the selection of the best site, or from the appropriate franchise for a proposed project to complete financial projections and complete appraisal reports. Litigation support assignments have included both single properties and large portfolios in multiple U.S. states as well as locales as far-flung as Singapore. Specific real estate services offered by Kendall RCG Hospitality & Leisure include: ▪ Market Feasibility Studies ▪ Hospitality Franchise and Economic Impact Studies ▪ Evaluations and Financial Projections ▪ Litigation Support Services ▪ Appraisal Services Notable past engagements include: ▪ 36-hotel portfolio (17 U.S. states); 23-hotel portfolio (6 U.S. states); 28-hotel portfolio (10 states); 11-hotel portfolio (2 U.S. states); 9-hotel portfolio (7 U.S. states); 4-hotel portfolio (Utah); 3-hotel portfolio (3 U.S. states) ▪ Scottsdale Plaza Resort (Paradise Valley, AZ) ▪ L’Auberge Resort (Del Mar, CA) ▪ Indian Wells Country Club (Indian Wells (Palm Springs area), CA) ▪ Westin St. Francis (San Francisco, CA) ▪ ChampionsGate Golf Resort (ChampionsGate, FL) ▪ Ritz Carlton Hotel & Condominium (Coconut Grove, FL) ▪ Peabody Hotel & Conference Center (Orlando, FL) ▪ Marriott Sawgrass Resort & Beach Club (Ponte Vedra Beach, FL) ▪ Ritz-Carlton (Chicago, IL) ▪ Wynn Las Vegas & Encore Resort and Casino (Las Vegas, NV) ▪ The Plaza (New York, Manhattan, NY) ▪ Waldorf Astoria (New York, Manhattan, NY) ▪ Gaylord Texan (Grapevine, TX) ▪ Ritz Carlton (Houston, TX) KENDALL RCG’S HOSPITALITY & LEISURE SPECIALTY PRACTICE PAST U.S. HOTEL AND RESORT ASSIGNMENTS Kendall RCG’s Hospitality & Leisure specialty practice’s experience includes over 1,200 assignments covering 48 US states, the Caribbean, Mexico, Central America, Israel, and Asia, including many markets in which you may have interest. A sample listing of previous hospitality-related consulting and appraisal assignments in the U.S. is presented here, arranged by state. Holiday Inn Express & Suites (Andalusia, AL) Hampton Inn & Suites (Mobile, AL) Fairfield inn (Athens, AL) Hampton Inn & Suites Downtown (Mobile, AL) Proposed Fairfield Inn & Suites Athens (Athens, AL) Hampton Inn & Suites Providence Park (Mobile, AL) Sleep Inn & Suites Auburn (Auburn, AL) Hawthorn Suites Golf Resort (Mobile, AL) Cobb Land B&B (Birmingham, AL) Holiday Inn (Mobile, AL) Hampton Inn Birmingham-Colonnade 280 (Birmingham, Homewood Suites (Mobile, AL) AL) Howard Johnson's (Mobile, AL) Proposed Hawthorn Suites Golf Resort (Birmingham, Proposed Hawthorn Suites Golf Resort (Mobile, AL) AL) Proposed Home2 Suites Tillmans Corner (Mobile, AL) Creekside Lodge (Dadeville, AL) Proposed La Quinta (conversion) (Mobile, AL) Econo Lodge Inn & Suites Fort Rucker (Daleville, AL) Quality Inn Downtown Historic District (Mobile, AL) Best Western Plus (Daphne, AL) Westmont Inn (Mobile, AL) Best Western Plus Eastern Shore (Daphne, AL) Candlewood Suites (Montgomery, AL) Comfort Suites (Daphne, AL) Country Inn and Suites (Montgomery, AL) Hampton Inn Mobile-East Bay/Daphne (Daphne, AL) Days Inn (Montgomery, AL) Hilton Garden Inn (Daphne, AL) Embassy Suites (Montgomery, AL) Homewood Suites (Daphne, AL) Fairfield Inn & Suites (Montgomery, AL) Comfort Suites Eastern Shore (Daphne/Malbis, AL) Proposed Fairfield Inn & Suites (Montgomery, AL) Proposed Comfort Suites (Daphne/Malbis, AL) Proposed Hawthorn Suites Golf Resort (Montgomery, Courtyard (Decatur, AL) AL) Hampton Inn (Decatur, AL) Rodeway Inn (Montgomery, AL) Hampton Inn & Suites (Decatur, AL) Perdido Beach Resort (Orange Beach, AL) Comfort Inn & Suites (conversion to La Quinta Inn & Proposed Bald Cypress Lodge (Orange Beach, AL) Suites) (Dothan, AL) Proposed Condo Hotels Market Study (2) (Orange Comfort Suites (Dothan, AL) Beach, AL) Candlewood Suites (Enterprise, AL) Proposed Riverwalk Condo Hotel (Orange Beach, AL) Western Inn (Eutah, AL) Hilton Garden Inn Oxford/Anniston (Oxford, AL) Holiday Inn Express (Fairhope, AL) Proposed Home2 Suites (Oxford, AL) Hampton Inn (Florence, AL) Fairfield Inn & Suites (Pelham, AL) Cornerstone Lodge (Foley, AL) Holiday Inn Express & Suites - Prattville South Holiday Inn Express Foley (Foley, AL) (Prattville, AL) Country Hearth Inn (Gulf Shores, AL) Holiday Inn Express & Suites (Saraland, AL) Hampton Inn (Gulf Shores, AL) Super 8 (Sylacauga, AL) Holiday Inn Express (Gulf Shores, AL) Holiday Inn Express (Talladega, AL) Microtel (Gulf Shores, AL) Proposed Holiday Inn Express (Talledega, AL) Microtel Gulf Shores (Gulf Shores, AL) Hotel Capstone (Tuscaloosa, AL) Microtel Inn & Suites (Gulf Shores, AL) Proposed Microtel Inn & Suites (Union Springs, AL) Homewood Suites by Hilton Birmingham-SW- Comfort Suites (Bentonville, AR) Riverchase-Galleria (Hoover, AL) Days Inn Conway (Conway, AR) Comfort Inn (Huntsville, AL) America's Best Value Inn (Forrest City, AR) Embassy Suites Huntsville - Hotel & Spa (Huntsville, Comfort Inn (Forrest City, AR) AL) Holiday Inn Fort Smith-City Center (Fort Smith, AR) Hampton Inn (Huntsville, AL) Courtyard Fort Smith Downtown (Ft Smith, AR) Proposed Hawthorn Suites Golf Resort (Huntsville, AL) Austin Hotel & Convention Center (proposed conversion Residence Inn (Huntsville, AL) to Holiday Inn) (Hot Springs, AR) Westin (Huntsville, AL) Clarion (conversion to DoubleTree) (Hot Springs, AR) Comfort Inn (Lincoln, AL) Country Inn & Suites (Hot Springs, AR) Western Inn (Livingston, AL) Econo Lodge Inn & Suites (Hot Springs, AR) Proposed Best Western (conversion) (Madison, AL) Embassy Suites Hot Springs - Hotel & Spa (Hot Admiral Semmes Hotel (Mobile, AL) Springs, AR) Days Inn (Mobile, AL) Hotel Hot Springs (Hot Springs, AR) Econo Lodge Tillmans Corner (Mobile, AL) La Quinta Inn & Suites (Hot Springs, AR) Family Inns of America (Mobile, AL) Proposed Holiday Inn Express - Hot Springs (Hot former Ramada Inn (Mobile, AL) Springs, AR) KENDALL RCG’S HOSPITALITY & LEISURE SPECIALTY PRACTICE PAST U.S. HOTEL AND RESORT ASSIGNMENTS Quality Inn Suites (Hot Springs, AR) Spindrift Inn (Monterey, CA) Days Inn (Little Rock, AR) Victorian Inn (Monterey, CA) Proposed Home2Suites (Little Rock, AR) Hotel Avante (Mountain View, CA) Riverfront Hilton Hotel (Little Rock, AR) Proposed Courtyard (Oceanside, CA) Embassy Suites Northwest Arkansas - Hotel, Spa & Doubletree by Hilton Hotel Ontario Airport (Ontario, CA) Convention Center (Rogers, AR) Econo Inn (Ontario, CA) Shadow Valley Golf Club (Rogers, AR) Ontario Hilton Hotel (Ontario, CA) Hampton Inn & Suites (Texarkana, AR) Proposed Dream Hotel and Residences (Palm Springs, Hilton Phoenix Chandler (Chandler, AZ) CA) Renaissance Phoenix Glendale Hotel & Spa (Glendale, Riviera Resort & Spa (Palm Springs, CA) AZ) Ritz Carlton (Pasadena, CA) Ramada Inn and Suites (Mesa, AZ) Red Lion - Redding (Redding, CA) Scottsdale Plaza Resort (Paradise Valley, AZ) Courtyard by Marriott (Riverside, CA) Inn of Payson (Payson, AZ) Aventine Hyatt Regency (San Diego, CA) Hyatt Regency - Phoenix (Phoenix, AZ) Courtyard by Marriott (San Diego, CA) Proposed Courtyard by Marriott (Phoenix, AZ) Argent Hotel (San Francisco, CA) Royal Palms Hotel & Spa (Phoenix, AZ) Empress Hotel (SRO) (San Francisco, CA) Hermosa Inn (Scottsdale, AZ) Hotel Kabuki (San Francisco, CA) Royal Palms Hotel (Scottsdale, AZ) Nikko Hotel (San Francisco, CA) Scottsdale Conference Resort (Scottsdale, AZ) Petite Auberge (San Francisco, CA) Scottsdale Plaza Resort (Scottsdale, AZ) The Clift Hotel (San Francisco, CA) Proposed Residence Inn (Tempe, AZ) Westin St. Francis (San Francisco, CA) Radisson Tempe (Tempe, AZ) White Swan Inn (San Francisco, CA) SpringHill Suites by Marriott (Tempe, AZ) Four Points Cupertino (San Jose, CA) Tempe Mission Palms (Tempe, AZ) Proposed Residence Inn (San Juan Capistrano, CA) TownePlace Suites by Marriott (Tempe, AZ) Best Western Sonoma Valley Inn (Sonoma, CA) Holiday Inn (Tucson, AZ) Harvest Inn (St. Helena, CA) Marriott University Park (Tucson, AZ) Wild Palms (Sunnyvale, CA) Proposed TownePlace Suites by Marriott (Tucson, AZ) Hearthside Inn Aurora (Aurora, CO) Westin La Paloma Resort (Tucson, AZ) Proposed Casino and Hotel (Blackhawk, CO) Red Feather Lodge (Tusayan, AZ) Candlewood Suites (Colorado Springs, CO) Hilton Garden Inn and Pivot Point Conference Center Hearthside Inn Colorado Springs (Colorado Springs, (Yuma, AZ) CO) Homewood Suites (Yuma, AZ) Super 8 (Colorado Springs, CO) Red Lion - Anaheim (Anaheim, CA) Courtyard by Marriott Cherry Creek (Denver, CO) Comfort Suites Bakersfield (Bakersfield, CA) Courtyard