Final Project HMG6476

Example of Report and its content

A)   Example Reports (2 examples) – Use as a “go-by” for formatting your own project report – all reports MUST have the following: (1) professional cover (2) transmittal letter (3) table of contents (4) introduction (5) Site and Area Review – May be broken into 2 sections – one discussing the neighborhood characteristics – visibility, access, etc. and the second discussing demographics, airport stats, etc.  (6) Lodging Supply and Demand Analysis (ends witih projection of average daily rate and occupancy for YOUR proposed hotel (7) Financial Analysis.

B)  Comp Supply interview (2 examples) – typical forms to be used when interviewing hotel GM’s, Directors of Sales, etc.

C)  Example proposal – shows how work is outlined and job is proposed to a client (the bid)

D)  Fee estimate worksheet – very simplistic way of arriving at fee to be quoted to client – per person using hourly billing rates

E)  Project links and websites – various sources for data – heavy emphasis on data for area review section

HFT 6476 – Class Project – On-Line Spring B 2012Note: This is FICTITOUS PROJECTOK – ONE MORE TIME – THIS IS ALL ‘MAKE BELIEVE’!!!!! Development site to be evaluated: You are to choose a vacant development site in an area that is easily accessible to you. The development site must be suitable for hotel development (based on a quick look). If you cannot locate a vacant site, choose an existing site (not a hotel) with a building that you will ASSUME will be demolished to make way for the hotel that is your project topic. Your client is the LENDER on the project – The First National Bank of Boca Raton. Your contact will be (address all correspondence to) Ms. Concerned Client, First National Bank of Boca Raton, One Blue Skies Avenue, Boca Raton, FL, Keep in mind that Ms. Client is NOT the developer of the project – she is the head due diligence person at the bank that is going to loan the money to the developer to build the project. Your obligation, as a consultant, is to let the bank know about whether this will be a good loan. New hotel (at the location YOU chose nearby to YOU) will open on January 1, 2014. Plans include: 120 guest rooms Planned average daily rate, based on the developer’s pro-forma of about $125 (current value dollars) 4,000 square feet of meeting space Restaurant – Bistro type (casual or linen table service depending on the meal period) 6 AM to midnight (100 seats). Pool and outside patio area Developer is planning to develop the hotel as a relatively new concept – Andaz by Hyatt. You must be aware of this and factor it you’re your projections – i.e. include appropriate franchise fees for the brand, etc. Hotel is to be operated by a very well known and respected management company – Top Notch Lodging – so you can assume it will be very professionally managed. Total estimated cost of the development including purchase of the land is $9.6 million ($80,000 PER UNIT). Developer is looking for the bank to loan him 60% of the TOTAL cost. Repeat – PLEASE KEEP IN MIND THAT YOUR CLIENT IS THE BANK… IF THIS IS A BAD DEAL – I.E. NOT A GOOD LOAN FOR THEM TO MAKE, THEY WANT TO HEAR ABOUT IT.