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

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The Westin Denver International AirportHotel Market AnalysisCompetitive Downtown Hotel MarketIV-17
The Westin Denver International AirportHotel Market AnalysisCompetitive Property Number One (Downtown)The Westin Denver DowntownLocationDescriptionAddress:1672 Lawrence Street Date opened: 1985Denver, CO 80202 Guestrooms: 430Distance from Subject:25.2 milesAmenitiesPicture•••••••••••••Augusta RestaurantStarbucks® Coffee KioskThe Palm RestaurantV's LoungeApproximately 32,000 square feet of meeting spaceRooftop pool and deckIndoor swimming pool and whirlpoolConcierge serviceBusiness centerFitness centerHigh-speed Internet access throughout the hotelIn-room diningLaundry/valet serviceNotesThe Westin is located approximately 25 miles southwest ofthe proposed Subject in downtown Denver. The hotelopened in 1985 and features 430 guestrooms. Based onconversations with management, we understand that thishotel is to undergo a renovation in 2013. The Westin isaffiliated with Starwood Hotels & Resorts and benefitsfrom Starwood's guest reward program and marketingefforts. This hotel represents one of Starwood's upscale,full-service products. It is assumed that the proposedSubject will also be affiliated with Starwood under theWestin brand.Historical PerformanceThe Westin achieved an occupancy and ADR abovethe competitive market average in 2011.IV-18
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September 18, 2012Mr. Patrick HeckD
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The Westin Denver International Air
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SECTION IEXECUTIVE SUMMARY
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SECTION IIIPROPERTY DESCRIPTION
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The Westin Denver International Hot
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ADDENDA
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ADDENDUM ACERTIFICATION OF THE CONS
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PKF Consulting appreciates the oppo
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STATEMENT OF ASSUMPTIONS AND LIMITI
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ADDENDUM CQUALIFICATIONS OF THE CON
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QUALIFICATIONS OFCHRISTOPHER A. KRA
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QUALIFICATIONS OFCATHERINE E. BOLST
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Appraisal for the Yountville Inn lo
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Sent via email to: patrick.heck@fly
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Mr. Patrick HeckJune 14, 2012Housto
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Mr. Patrick HeckJune 14, 2012In ord
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Mr. Patrick HeckJune 14, 20127. Mar
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ADDENDUM ESENSITIVITY ANALYSIS
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