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

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The Westin Denver International AirportHotel Market AnalysisCompetitive Property Number Four (Downtown)Hyatt Regency Denver at Colorado Convention CenterLocationDescriptionAddress:650 15th Street Date opened: 2005Denver, CO 80202 Guestrooms: 1,100Distance from Subject:25.3 miles•••••••••••••AmenitiesAltitude RestaurantPerks Coffee & MorePeaks LoungeStrata BarIn-room diningApproximately 61,000 square feet of meeting spaceIndoor swimming pool and whirlpoolConcierge serviceFitness centerBusiness centerSpa UniversaireValet covered parkingLaundry/valet serviceNotesThe Hyatt Regency is located approximately 25 milessouthwest of the proposed Subject in downtown Denver,adjacent to the Colorado Convention Center. The hotelopened in 2005 and features 1,100 guestrooms. TheHyatt Regency is affiliated with Hyatt Hotels and Resortsand benefits from Hyatt's guest reward program andmarketing efforts. The hotel represents one of Hyatt'supscale, full-service products.PictureHistorical PerformanceIn 2011, the Hyatt Regency achieved an occupancylevel and ADR above the competitive marketaverage.IV-21
The Westin Denver International AirportHotel Market AnalysisCompetitive Property Number Five (Downtown)The Ritz-Carlton DenverLocationDescriptionAddress:1881 Curtis Street Date opened: 2008Denver, CO 80202 Guestrooms: 202Distance from Subject:24.9 milesAmenitiesPicture• Elway's Restaurant• In-room dining• Approximately 13,000 square feet of meeting space• The Ritz-Carlton Spa• Access to the adjacent FORZA fitness club• Business center• Concierge service• High-speed Internet access throughout the hotel• Valet covered parking• Laundry/valet service• 32 Club Level roomsNotesThe Ritz-Carlton is located approximately 25 milessouthwest of the proposed Subject in downtown Denver.The hotel opened in 2008 and features 202 guestrooms.The Ritz-Carlton is affiliated with Marriott International andbenefits from Marriott's guest reward program andmarketing efforts. The hotel represents Marriott's highend,full-service product.Historical PerformanceIn 2011, the Ritz-Carlton achieved an occupancylevel and ADR above the competitive marketaverage. It should be noted that the Ritz-Carltonachieves one of the highest ADRs in the overallcompetitive market.IV-22
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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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