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

More documents

Recommendations

Info

The Westin Denver International HotelProperty DescriptionDIA South Terminal Redevelopment Program Site Plan1. Property Description and ConfigurationThe proposed Westin will represent an upper upscale, full-service hotel. At 519guestrooms, the gross building area of the hotel is estimated to be approximately473,229 square feet, or 912 square feet per guestroom. The proposed Subject isestimated to be open and available for occupancy on August 1, 2015. The mainfacilities of the proposed Subject will include an all-purpose restaurant and bar,coffee express outlet, 29,000 square feet of meeting space, a 6,000 square-foothealth club, featuring an indoor swimming pool and whirlpool, fitness center, andKids Club, business center, and a gift shop. The Westin hotel is only onecomponent of the overall redevelopment program. Other major components of theredevelopment plan include the RTD light rail extension, which will connectdowntown Denver to DIA, a new runway, more than 20 new gates, two additionalinternational gates, and an improved baggage system and passenger train.Based on our review of the preliminary development program and on conversationswith representatives of DIA, we understand that the RTD rail line will connect to DIAon Level 1. The proposed Subject’s meeting space will be located on Level 2 withmechanical systems and back-of-house operations located on Levels 3 and 4.Level 5 will contain the proposed Subject’s restaurants (both the hotel-operatedrestaurant and DIA leased restaurant). This level will also be the access point tothe main terminal of the airport. Level 6 will feature the proposed Subject’s lobbyIII-5
The Westin Denver International HotelProperty Descriptionand public space. The proposed Subject’s guestrooms will be located on Levels 6through 14. It is anticipated that guests traveling by way of the RTD rail line will beable to access the hotel’s lobby via a separate elevator bank than those used toaccess the main terminal.2. GuestroomsThe Subject will contain a total of 519 guestrooms. The guestroom mix will be asfollows: 286 standard king rooms, 192 standard queen/queen rooms, 16 executivesuites, 1 renewal suite, 12 junior suites, 4 deluxe suites (2 keys per suite), and 2hospitality suites (2 keys per suite). We have assumed that the furniture, fixtures,and guestroom amenities will be consistent with that of the Westin brand and willadhere to the operational and quality standards established by Starwood Hotels andResorts for the Starwood brand.The Westin Denver International AirportGuestrooms Distribution by TypeStandardDeluxe Suite HospitalityLevelStandardKingDoubleQueenExecutiveSuiteRenewalSuiteJuniorSuite(2 Keys perSuite)Suite (2 Keysper Suite) Total6 12 12 2 2 4 327 28 18 4 2 528 38 24 6 689 38 26 2 4 7010 40 29 6911 27 20 2 1 2 4 5612 36 22 2 6013 35 23 5814 32 18 4 54Total 286 192 16 1 12 8 4 519The standard king guestrooms will range in size between 383 and 580 square feet,and the standard queen/queen guestrooms will range in size between 416 and 680square feet. The executive suites are anticipated to be between 710 and 868square feet while the junior suite will be between 675 and 703 square feet. Thedeluxe and hospitality suites (2 keys per suite) will be between 1,200 and 1,234square feet. The largest suite, the renewal suite, is projected to be 1,492 squarefeet.Typical Westin guestrooms feature the following amenities:King, or double queen pillow-top beds with the Westin Heavenly Bed®;Smart desk with iPod and laptop interfacing capabilities;Two telephones with international direct dialing, data port and voicemail;Sitting area;III-6
Page 2 and 3: September 18, 2012Mr. Patrick HeckD
Page 4 and 5: The Westin Denver International Air
Page 8 and 9: SECTION IEXECUTIVE SUMMARY
Page 32 and 33: SECTION IIIPROPERTY DESCRIPTION
Page 34 and 35: The Westin Denver International Hot
Page 86 and 87:
The Westin Denver International Air
Page 88 and 89:
Page 90 and 91:
Page 92 and 93:
Page 94 and 95:
Page 96 and 97:
Page 98 and 99:
Page 100 and 101:
Page 102 and 103:
Page 104 and 105:
Page 106 and 107:
Page 108 and 109:
Page 110 and 111:
Page 112 and 113:
SECTION VSTATEMENT OF ESTIMATED ANN
Page 114 and 115:
Page 116 and 117:
Page 118 and 119:
Page 120 and 121:
Page 122 and 123:
Page 124 and 125:
Page 126 and 127:
Page 128 and 129:
Page 130 and 131:
Page 132 and 133:
Page 134 and 135:
Page 136 and 137:
Page 138 and 139:
Page 140 and 141:
Page 142 and 143:
ADDENDA
Page 144 and 145:
ADDENDUM ACERTIFICATION OF THE CONS
Page 146 and 147:
PKF Consulting appreciates the oppo
Page 148 and 149:
STATEMENT OF ASSUMPTIONS AND LIMITI
Page 150 and 151:
ADDENDUM CQUALIFICATIONS OF THE CON
Page 152 and 153:
QUALIFICATIONS OFCHRISTOPHER A. KRA
Page 154 and 155:
QUALIFICATIONS OFCATHERINE E. BOLST
Page 156 and 157:
Appraisal for the Yountville Inn lo
Page 158 and 159:
Sent via email to: patrick.heck@fly
Page 160 and 161:
Mr. Patrick HeckJune 14, 2012Housto
Page 162 and 163:
Mr. Patrick HeckJune 14, 2012In ord
Page 164 and 165:
Mr. Patrick HeckJune 14, 20127. Mar
Page 167 and 168:
ADDENDUM ESENSITIVITY ANALYSIS
Page 169 and 170:
Page 171 and 172:
show all

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

Create successful ePaper yourself

Delete template?

Save as template?