History
of H&LA
Our Clients
Property Type Specialties
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About Us
What
H&LA Does
A hospitality consulting firm specializing in appraisals, feasibility studies, project development analyses, impact analyses, economic impact studies, and litigation support for hotels, resorts, waterparks, casinos, conference and convention centers, golf courses, ski resorts and other leisure real estate.
Our experienced consultants travel nationwide analyzing
hospitality trends, studying leisure industries, and understanding local
communities. We
focus on our clients’ competitive markets and provide thorough and
thoughtful analysis of hospitality properties.
We also participate in hospitality industry and professional trade associations
in order to provide resources for our clients.
Click here for a complete description of the services
we provide.
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History of H&LA
David J. Sangree, MAI, CPA, ISHC, formed Hotel & Leisure
Advisors in 2005 in Cleveland, Ohio. After more than 25 years
in the hospitality and appraisal industry, he wished to form a company focused
exclusively on the needs of clients in hotel and leisure real estate.
All H&LA consultants have degrees in hospitality management
along with coursework in real estate analysis. The consultants have
performed studies on hotels and other leisure properties in more than 45
states and on more than 2,000 properties.
Click here to learn more about the staff of H&LA.
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Our Clients
Hotel & Leisure Advisors provides expert hospitality
consulting and appraisal services to owners of hospitality properties,
developers, lenders, management companies, REIT’s, attorneys, real estate
consultants, and other interested parties.
Click here for a list of clients served by the current
staff of H&LA.
Property Type Specialties
The consultants of Hotel & Leisure Advisors have more
than 100 years combined experience in the hospitality industry,
both with H&LA and other respected firms. Our focus is on the following hospitality property types:
Hotels & Resorts
Click here for a list of completed projects.
Limited-Service Hotels – Select-Service Hotels – Full-Service
Hotels - All Suite Hotels - Extended Stay Hotels – Resorts - Condominium
Hotels - Time-Share Resorts - Casino Hotels - Spa Hotels - Ski Resorts
- Expertise
- Studies of more than 2,000 existing and proposed hotels and resorts
in more than 45 states since 1987
- Analysis of hotel and resort markets throughout the United States,
Canada, and the Caribbean
- Experience with wide range of property types and hotel franchises
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Familiarity with a wide range of resort properties incorporating casinos, golf courses, waterparks, ski areas, and other amenities
- Functions
- Analyze in detail the local and regional hotel industry for each study
- Consider the supply and demand changes and cyclical patterns which
occur with every hotel and analyze the specific characteristics in a
market
- Conduct detailed interviews and a statistical
analysis of the existing primary and secondary competition
- Determine new supply proposed for a market area
- Perform demand interviews with potential users for proposed projects
- Analyze the region’s economy to determine future market occupancy
and average daily rate levels and, subsequently, the subject’s
penetration rates to prepare estimates of occupancy, average daily rate,
and net operating income of a proposed hotel property
- Utilize a complex computer-based model to perform
a detailed analysis on the subject property’s historical performance
related to occupancy, average daily rate, and income and expenses
- Resources
- Solid contacts with franchise companies that provide information on
performance, fees, and new supply
- Extensive database of financial statements from a wide
range of hotels and resorts throughout the United States and Canada
- Database of hotel sales which contains more than 8,000
different sales across a wide range of prices
- Access to data from Smith Travel Research, PKF Trends, Claritas and
other hospitality data sources
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Indoor Waterpark Resorts, Waterparks & Amusement
Parks
Click
here for a list of completed projects.
Indoor Waterpark Resorts – Indoor Waterparks – Outdoor
Waterparks – Amusement Parks
- Expertise
- David Sangree is a recognized national expert on indoor
waterpark resorts and has visited most of the open waterpark properties
in the United States and Canada (See Publications for a select group
of his publications about indoor waterpark resorts.)
- David Sangree has been a featured speaker and
roundtable participant at industry conferences sponsored by the World
Waterpark Association, International Association of Amusement Parks
and Attractions,
Aquatics Magazine and the International Society of Hospitality
Consultants
- He has performed more than 200 studies of hotels and
resorts with indoor waterparks since 1999 when indoor waterparks were
just beginning to be proposed outside of Canada and the Wisconsin Dells
in the United States
- The firm has analyzed a range of outdoor waterparks
and amusement parks with annual attendance levels ranging from 50,000
to over two million
- Functions
- Analyze the existing competition of hotels and resorts within the market
for the indoor waterpark resort and compare and contrast other indoor
waterpark resorts which may exist in a regional market
- Prepare profiles of the local and regional
competition for the waterpark or amusement park in analyzing a market’s amenities, prices
and performance
- Review the demographics of a region in preparing forecasts
for this popular, family-oriented resort segment
- Analyze other proposed indoor waterpark resorts,
outdoor waterparks or amusement parks in the region
- Perform demand interviews with potential users to determine the level
of interest for the property
- Utilize a complex computer-based model which considers the existing
demand for indoor or outdoor waterparks, the current rates achieved,
and the potential demand for a waterpark within a certain market to determine
the financial projections of an existing or proposed property
- Calculate detailed estimates of occupancy, average daily
rate, and waterpark usage for the resort as well as the prospective net
operating income for the property
- Calculate detailed estimates of attendance, average
ticket price and utilization for an outdoor waterpark or amusement park
and project prospective net operating income
- Resources
- Member of the World Waterpark Association and
the International
Association of Amusement Parks and Attractions, which provide
extensive data and research
concerning indoor and outdoor waterparks and amusement parks
- Database of financial information
from existing indoor waterpark resorts, outdoor waterparks and amusement
parks
- Frequently updated list of new indoor waterpark resorts
proposed in the U.S. and Canada
- Solid contacts with a range of waterpark developers,
waterpark operators, amusement park operators, lenders
and architects
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Golf Courses and Ski Resorts
Click here for a list of completed projects.
Golf Courses - Golf Course Resorts - Country Clubs - Ski Resorts
- Expertise
- Analysis of stand-alone golf courses, golf course resorts, golf
course residential developments, and ski resorts in 15 states
- Hospitality background of staff allows for experienced analysis of
golf courses connected to a resort and stand-alone ski resorts
- Functions
- Analyze in detail the local and regional golf course and ski resort market
- Consider the supply and demand patterns of a market in addition to
potential growth areas
- Assess the performance of comparable golf courses and ski resorts
- Review new golf courses or ski resorts proposed in a market
- Analyze the demographics of an area including income levels and number
of golfers and number of skiers
- Forecast the potential number of rounds of golf for the market and forecast potential skier attendance in the market
- Utilize a complex computer-based model to forecast number of rounds
of golf and the average rate per round for a proposed or existing golf
course and create a detailed financial projection
- Utilize computer-based model to forecast skier attendance and average lift ticket and season pass rates for proposed or existing ski resort and make financial projections
- Resources
- Member of the National Golf Foundation and the National Ski Area Association
- Access to extensive statistical data concerning the performance of
golf courses from NGF, Pellucid, and others
- Databases of golf course and ski resort financial statements and of
golf course and ski resort sales
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Restaurants
Click
here for a list of completed projects.
Restaurants in Hotels - Stand-Alone Restaurants
- Expertise
- Analysis of a wide range of restaurants throughout the
United States
- Work experience in a wide range of restaurants and hotels
- Experience with both high end and chain style restaurants
- Functions
- Analyze the local restaurant market for each study
- Consider supply and demand changes in restaurants
- Utilize a complex computer-based model in calculating the number of
restaurant covers and spending per cover to determine the net operating
income for the restaurant
- Perform a going concern analysis by providing a detailed
look at the financial performance of the restaurant and comparing its
operating information with data from the National Restaurant Association as
well as our database of restaurant financial statements
- Perform a leasehold analysis of leases and rental rates
of restaurants in a region to determine a prospective lease rate for
a restaurant tenant
- Maintain a database of restaurant sales and financial statements
- Resources
- Access to information from the National Restaurant Association,
Smith Travel Research, and PKF Trends
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Conference, Convention, & Exposition Centers
Click
here for a list of completed projects.
Conference Centers - Convention Centers – Exposition Centers - Arenas – Amphitheaters
- Fairgrounds
- Expertise
- Conducted studies on larger conference and convention
centers located in major metropolitan areas as well as smaller conference
centers in hotels.
- Experience with both stand-alone facilities and centers connected with
hotels
- Performed feasibility studies for proposed facilities and appraisals
of existing centers
- Functions
- Analyze the local and regional conference, convention, or exposition
center market for each study
- Consider supply and demand changes in exposition centers and how they
affect the market
- Maintain a database of proposed and under construction conference and
convention centers, arenas, and theaters
- Conduct demand interviews with a wide range of prospective groups to
determine their level of interest in a proposed conference or convention
center
- Analyze the demographics of an area in preparing forecasts of demand
- Utilize a complex computer-based model which considers and analyzes
the performance of a range of comparable centers within a market and
the current demand levels within a market
- Analyze financial statements contained within our database of other
centers to estimate the financial projections for the proposed center
- Resources
- Access to data available from the International Association of
Assembly Managers, Meetings Magazine, Tradeshow Week, and other
sources which profile the meetings industry
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