PKF Hotel Market Demand and Financial Analysis - DIA Business ...

The Westin Denver International AirportStatement of Estimated Annual Operating ResultsRentals and Other IncomePer Occupied Room Per DayIn-Terminal HotelsHotel A $0.89 $446Hotel B 0.00 0Hotel C 1.46 554Hotel D 2.04 574Hotel E 0.00 0Hotel F 6.23 3,993Westin HotelsHotel G $1.32 $415Hotel H 1.84 595Hotel I 7.83 2,679Hotel J 1.87 486Hotel K 0.00 0Weighted Average 2.36 1,948Subject Stabilized Year $2.00 $768As noted, the comparable hotels indicated rentals and other income rangingbetween $0.00 and $7.83. For a stabilized year of operation, we estimate rentalsand other income to be $2.00 POR for the proposed Subject, which equates torevenue of $307,000 in the first full year operation.2. Undistributed Operating ExpensesOperating expenses that are not chargeable to a particular operating departmentare presented as undistributed operating expenses, in accordance with the UniformSystem of Accounts for the Lodging Industry. These expenses includeadministrative and general, marketing, property operation and maintenance, andutilities. These expenses are relatively unaffected by fluctuations in occupanciesand room rates. These expenses are typically analyzed on a dollar amount peravailable room basis.V-14