PENSACOLA | FLORIDA Existing Pensacola Inn

Transcription

P E N S AC O L A | F L O R I DA
Existing Pensacola Inn
LLC
THE REAL ESTATE ARM OF INTERIM HOSPITALITY CONSULTANTS
day s inn & econolod g e | P ensacola , F lorida
Confidentiality & Conditions
The enclosed documents in this Market Analysis Report are confidential and are intended solely
for your own limited use in considering whether to pursue negotiations to acquire the Days Inn &
Econolodge (exisiting Pensacola Inn) – Pensacola, Florida (“Property”). These documents are not
intended to be an offer for the sale of the Property.
The enclosed documents, which contains brief, selected information regarding the business and
affairs of the Property, have been prepared by Lodging Realty Services (“LRS”) at the direction PGP
Pensacola, LLC (“Seller”). This material is not all-inclusive and does not contain all the information that
a prospective purchaser may desire. Neither the Seller nor LRS nor any of their officers, employees,
or agents make any representation or warranty, expressed or implied, as to the accuracy or
completeness of the enclosed materials.
By acknowledgment of your receipt of this confidential Market Analysis Report, you agree that the
enclosed documents and its contents are confidential; that you will hold and treat it in the strictest
of confidence that you will not, directly or indirectly, disclose or permit anyone else to disclose the
contents to any other person, firm or entity without prior written authorization of the Seller; and
that you will not use or permit to be used this Market Analysis Report or its contents in any fashion
or manner detrimental to the interest of the Seller. Photocopying or other duplication is strictly
prohibited. By acknowledging receipt, you further agree to waive any liability related to the accuracy
and completeness of the enclosed documents.
THE SELLER EXPRESSLY RESERVES THE RIGHT, AT ITS SOLE DISCRETION, TO
REJECT ANY AND ALL PROPOSALS OR EXPRESSIONS OF INTEREST IN THE
PROPERTY AND TO TERMINATE DISCUSSIONS WITH ANY PARTY AT ANY TIME
WITH OR WITHOUT NOTICE.
If you do not wish to pursue negotiations leading to this acquisition, or if in the future you discontinue
such negotiation, you agree to return this confidential memorandum to LRS.
THESE CONFIDENTIAL DOCUMENTS SHALL NOT BE DEEMED A
REPRESENTATION OF THE STATE OF AFFAIRS OF THE PROPERTY. THERE MAY
HAVE BEEN SIGNIFICANT CHANGES IN THE BUSINESS AFFAIRS OF THE
PROPERTY SINCE THE DATE THE ENCLOSED DOCUMENTS WERE PREPARED..
THE PROPERTY IS BEING SOLD ON AN “AS-IS, WHERE-IS” BASIS.
© 2009 Lodging Realty Services, LLC
P E N S AC O L A | F L O R I DA
Existing Pensacola Inn
confidential
E x cl u si v e representati v es
E d w ard x anders , C H A , G R I
President - Broker
B u nn y N ocera
Realtor
O f f e r e d At
$6,500,000
Fee Simple
2 Year Lease Purchase Available
I H C
Hotel Brokers International
YEARS
www.hbihotels.com
25
4145 YARDLEY CIRCLE | TALLAHASSEE, FL 23309-2942
CELL: 850.443.5010 | PHONE: 850.893.6010 | FAX: 850.893.8345
WWW.INTERIMHOSPITALITY.COM | [email protected]
Table Of Contents
Executive Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
Property Over view. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Investment Considerations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Extended Stay Hotels. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Financial Data. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Proforma 5 Year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Capital Gain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Optimum Proforma — Year One. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Real Estate & Property Taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Property Description. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
Site. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Traffic Counts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Utilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Hotel Facilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
Days Inn & Econolodge Franchise Information. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Monthly Occupancy & Average Daily Rate 2006, 2007, 2008, 2009. . . . . . . . . . . . 24
Competition. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
Pensacola Market Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
History. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34
Economy. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37
Area Attractions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
Transportation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43
Calendar of Events . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46
Lodging Realty Services LLC.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52
Interim Hospitality Consultants. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55
Hotel Brokers International. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63
Confidentiality & Conditions. . . . . . . . . . . . . . . . . . . . . . . . . . Inside Front Cover
Broker Disclaimer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Inside Back Cover
Agency. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Inside Back Cover
Executive
Summar y
Proposed Econolodge - Existing Pensacola Inn
• Located at Exit 10 of Interstate 10
• Seller will add the Econolodge by Choice Hotels Franchise and signage to the existing
Pensacola Inn, at the request of the buyer.
• Price is the existing mortgage balance.
• 2 -year, owner financed, Lease Purchase available.
• P rice below current (2009) appraisal of 8 million. (4.5 Days Inn - 3.5 Pensacola Inn)
above: Days Inn lobby. below: Pensacola Inn guest room.
The Days Inn & Pensacola Inn hotels are well-maintained, exterior-corridor, 2-story hotels strategically
located at Exit 10 of Interstate-10, formerly the popular Holiday Inn Hotel. Featuring a combined total
of 206 guestrooms, the hotels are ideally suited for business or leisure guests. Each guestroom offers
telephones with data-ports, voice mail, 25” color television with cable channels and high-speed wireless
Internet. The hotel offers nonsmoking guestrooms, free parking, and meeting space for up to 200 people.
Investment Considerations
Location/Market The Days Inn & Pensacola Inn are located in Pensacola, Florida, on U.S. 29. The hotel
benefits significantly from the transient and business traveler and is ideally located along one of the
most highly traveled thoroughfares in Pensacola. The Pensacola area has a wide array of activities to suit
everyone’s needs. The beautiful Emerald Coast beaches and colorful history attract visitors from across
the country. The vast military presence and business-friendly environment are inviting to businesses
large and small. “Best Places for Business” Pensacola MSA ranked 76th, surpassing cities such as Miami,
Jacksonville, and Orlando in Forbes magazine’s issue listing 150 large metro areas as “Best Places for
Business.” Money Magazine calls it one of “The Best Places to Live.” Therefore it is not surprising that
Pensacola is the 70th fastest growing metropolitan areas in the United States. Pensacola boasts the
U.S. Navy as its number-one employer, however tourism, international industry, health care, and education
make up a majority of its workforce and economy.
E x ec u ti v e S u mmar y
Property Overview
Market Position The hotel is presently operating as a Days Inn with 116 rooms and as an independent
Pensacola Inn with 90 rooms. The Seller will, if requested by the Buyer, convert the Pensacola Inn to an
Econolodge franchise.
Interim Hospitality Consultants, a nationally respected hotel consulting firm, ranked in the country’s
top 20 consulting firms by Hotel and Motel Management (April 2008), has determined through its field
research that the highest and best use of the property is served as an Economy Extended Stay Hotel.
This recommended repositioning of the 206-room property is to meet the unsatisfied demand of the
Economy Extended-Stay Pensacola hotel market. Refer to page 30 for the Pensacola extended-stay
Smith Travel Research data. At this time, the Pensacola area has two economy extended-stay hotels, the
Suburban and the Extended Stay America. There are seven budget transient hotels in the immediate
neighborhood to the subject hotel on Pensacola Boulevard U.S. 29, plus three midpriced, the Ramada,
Quality Inn and Howard Johnson. The budget hotels offer weekly rates from $180 to $250.
Nationally, Economy Extended Stay Hotels have enjoyed an Occupancy from 75% to 80% for the past
12 years. The Average Weekly Rate has risen 33% to $250 since 1998. The average length of stay at an
Economy Extended-Stay Hotel is 30 to 34 days with 60% being commercial guests and 40% leisure. This
solid hotel segment is presented with the 2009 report for Economy Extended Stay Hotels as compiled
by the Highland Group, Atlanta, Georgia and presented on page 8.
The projected Financial Proforma for the subject hotel as an Economy Extended Stay Hotel is found on
page 10. The Proforma, developed by Interim Hospitality Consultants, is based on years of experience
of performing over 500 hotel feasibility studies from all hotel types and price points nationwide. The
existing property offers unique competitive advantages in entering the Economy Extended Stay market.
The building is apartment-style in construction with exterior doors and large front windows. Many rooms
overlook the large swimming pool. The landscaped grounds may be easily enhanced by adding a BBQ
Statement of Income & Expense for Economy Extended-Stay Hotels — 2009
Rooms; 136 Average Weekly Rate: $261.45 Occupancy: 69.9% Average Length of Stay: 34 Days
Revenues
Room Revenue
Telephone, Rentals, Other Income
Total Revenue
Departmental Expenses
Amount
Ratio to
Sales
Amount Per
Amount Per
Room
Occupied Room Night
$1,300,738
$17,168
$1,317,906
$219,714
98.7%
1.3%
100.0%
16.7%
$9,537
$126
$9,663
$1,611
$37.35
$0.49
$37.85
$6.31
$154,518
$31,112
$128,149
$86,742
$400,520
$697,671
$28,942
$67,446
11.7%
2.4%
9.7%
6.6%
30.4%
52.9%
2.2%
5.1%
$1,133
$228
$940
$636
$2,937
$5,115
$212
$494
$4.44
$0.89
$3.68
$2.49
$11.50
$20.03
$0.83
$1.94
$62,836
$30,759
$39,009
4.8%
2.3%
3.0%
$461
$226
$286
$1.80
$0.88
$1.12
$132,604
$468,679
$276,832
10.1%
35.6%
21.0%
$972
$3,436
$2,030
$3.81
$13.46
$7.95
Undistributed Operating Expenses
Administrative and General
Marketing/Sales
Utilities
Property Operation and Maintenance
Total Undistributed Operating Expense
Gross Operating Profit
Franchise Fees
Management Fees
Fixed Costs
Property Taxes
Insurance
Replacement Reserves
Total Fixed Charges
Net Operating Income
Total Payroll Expense
Note: May add due to rounding. Source: The Highland Group, Atlanta, GA
picnic area, a children’s playground, and a full-sized basketball court from existing sections of the
extensive parking lot . These improvements will give the hotel excellent amenities for guests who are
seeking economy interim housing.
All rooms are presently equipped with a hospitality center consisting of undercounter refrigerator,
microwave oven and coffee maker. It should be noted that funds in the proforma are allocated in
Replacement Reserves for full kitchens to be added in subsequent years.
Discount to Replacement Cost If a similar 2-story, 206-room, exterior-corridor hotel in
accordance with the brand standards were to be constructed on a fee-simple parcel of land today,
the development costs could exceed $70,000 per guest room. At the asking price of $31,530 per
room, this particular outstanding asset will trade at a meaningful discount to its replacement value
using the most conservative estimates. With the measured capital expenditures at acquisition, the
new owner can expect to realize strong financial performance and a solid, long-term competitive
advantage.
Environmental The Purchaser should perform such studies and inquiries as deemed necessary
to satisfy any environmental concerns. The Seller shall make no representations, warranties nor
guarantees of any kind with respect to environmental matters affecting the property.
Neighboring Characteristics The Days Inn & Pensacola Inn are convenient to residential
neighborhoods, restaurants, regional shopping, and tourist places of interest.
Investment Proforma Details
Statement of Profit and Loss
Days Inn & Pensacola Inn — Pensacola, Florida
206 ROOMS
2008
2007
34.1%
Occupancy
2006
56.0%
47.6%
Average Daily Rate
37.74
38.08
37.87
RevPAR
12.88
21.33
18.03
968,203
1,603,547
1,355,499
Revenue
Rooms
Other Revenue
Total Revenues
968,203
100.0
1,603,547
100.0
1,355,499
100.0
259,066
26.8
199,957
12.5
313,679
23.1
Sales & Marketing
12,000
1.2
12,000
0.7
12,000
0.9
Complimentary Guests Services
16,483
1.7
22,869
1.4
23,837
1.8
Franchise Fee
67,774
7.0
112,248
7.0
94,885
7.0
Utilities
80,153
8.3
120,435
7.5
108,310
8.0
Repair & Maintenance
17,510
1.8
12,491
0.8
21,585
1.6
452,986
46.8
480,000
29.9
574,296
42.4
65,792
6.8
66,970
4.2
58,672
4.3
Deductions from Income
Administrative & General
Total Deductions from Income
Fixed Costs
Real Estate Taxes
Management Fee
Insurance
Replacement Reserves
Total Fixed Costs
Net Operating Income Before Debt
0
0.0
0
0.0
0
0.0
28,000
2.9
28,000
1.7
28,000
2.1
0
0.0
0
0.0
0
0.0
93,792
9.7
94,970
5.9
86,672
6.4
421,425
43.5
1,028,577
64.1
694,531
51.2
Source: Days Inn and Pensacola Inn, Pensacola, FL; compiled by Lodging Realty Services, LLC.
Days Inn & Pensacola Inn Monthly Data
The Pensacola Days Inn and Pensacola Inn Monthly Occupancy, Average Daily Rate, Room Revenue,
Other Revenue and Total Revenue for years 2006, 2007, 2008 and 2009 are presented on page 24.
Five-Year Proforma Days Inn & Pensacola Inn, Pensacola, Florida
As
An Economy Extended Stay Hotel
FIVE-YEAR PROFORMA Days Inn and Econolodge — Pensacola, FL
2010
Amount
Revenue
Rooms
Telecommunications - Comp
Meeting and Banquet
Retail Center
Other Hotel
Total Revenues
Departmental Profit
Rooms
Telecommunications
Meeting and Banquet
Retail Center
Other Hotel
Total Departmental Profit
Undistributed Operational
Expenses
Administrative & General
Marketing
Comp. Guest Services
Marketing Fee
Franchise Fees
Utility Costs
Property Maintenance
Total Undistributed
Operation Expenses
Gross Operating Profit
Management Fees
Fixed Charges
Insurance
Property Taxes
Reserve for Replacement
Total Fixed Charges
Before Debt Service
Debt Service
Cash Flow
Operating Statistics
Occupancy
Average Weekly Rate
RevPAR
Number of Rooms
Weeks in Period
Available Rooms/week
Occupied Rooms
Change in Revenue
Change in NOI
2011
Ratio
Amount
2012
Ratio
Amount
2013
Ratio
Amount
2014
Ratio
Amount
Ratio
1,378,630
0
30,000
35,350
21,210
1,465,190
94.1 1,522,180
0.0
0
2.0
34,500
2.4
37,490
1.4
22,500
100.0 1,616,670
94.2
0.0
2.1
2.3
1.4
100.0
1,627,370
0.0
40,000
38,560
23,140
1,729,070
94.1 1,735,990
0.0
0.0
2.2
46,000
2.2
38,560
1.3
23,780
100.0 1,844,330
94.1
0.0
2.5
2.1
1.3
100.0
1,831,750
0.0
52,900
40,170
24,100
1,948,920
94.0
0.0
2.7
2.1
1.2
100.0
1,093,420
(17,670)
20,000
21,210
8,840
1,125,800
79.3 1,217,740
0.0
(18,750)
66.7
25,000
60.0
22,500
41.7
9,370
76.8 1,255,860
80.0
0.0
72.5
60.0
41.6
77.7
1,318,170
(19,310)
30,000
23,140
9,640
1,361,640
81.0 1,423,510
0.0
(19,890)
75.0
35,000
60.0
23,780
41.7
9,910
78.7 1,472,310
82.0
0.0
76.1
61.7
41.7
79.8
1,520,350
(20,490)
40,000
24,100
10,040
1,574,000
83.0
0.0
75.6
60.0
41.7
80.8
138,510
51,300
0
0
0
48,420
92,530
330,760
9.5
3.5
0.0
0.0
0.0
3.3
6.3
22.6
146,900
54,410
0
0
0
51,350
98,140
350,800
9.1
3.4
0.0
0.0
0.0
3.2
6.1
21.7
151,100
55,960
0
0
0
52,820
100,940
360,820
8.7
3.2
0.0
0.0
0.0
3.1
5.8
20.9
155,300
57,520
0
0
0
54,290
103,750
370,860
8.4
3.1
0.0
0.0
0.0
2.9
5.6
20.1
157,400
58,300
0
0
0
55,020
105,150
375,870
8.1
3.0
0.0
0.0
0.0
2.8
5.4
19.3
795,040
0
54.3
0.0
905,060
0
56.0
0.0
1,000,820
0
57.9 1,101,450
0.0
0
59.7
0.0
1,198,130
0
61.5
0.0
60,000
45,000
29,300
134,300
660,740
4.1
3.1
2.0
9.2
45.1
61,000
46,000
32,330
139,330
765,730
3.8
2.8
2.0
8.6
47.4
62,000
47,000
34,580
143,580
857,240
3.6
2.7
2.0
8.3
49.6
63,000
48,000
36,890
147,890
953,560
3.4
2.6
2.0
8.0
51.7
64,000
49,000
38,980
151,980
1,046,150
3.3
3.3
2.0
8.6
5.7
465,240
195,500
31.8%
13.3%
485,240
300,490
28.8%
18.6%
465,240
392,000
26.9%
22.7%
465,240
488,320
25.2%
26.5%
465,240
580,910
23.9%
29.8%
66.0%
195.00
128.70
206
52
10,712
7,070
203.00
142.10
206
52
10,712
7,498
70.0%
211.00
151.92
206
52
10,712
7,713
72.0%
10.3%
1.6%
6.9%
1.2%
219.00
162.06
206
52
10,712
7,927
74.0%
6.6%
1.1%
228.00
171.00
206
52
10,712
8,034
75.0%
5.6%
1.0%
Note: These projections are based on estimates and assumptions developed in connection with the Feasibility Study developed by Interim Hospitality Consultants.
However, some assumptions inevitably will not materialize, and unanticipated events and circumstances may occur; therefore, actual results achieved during the projection
Note:
are based
on variations
estimatesmay
and
assumptions developed in connection with the Feasibility Study developed by Interim
period These
will varyprojections
from the projections,
and the
be material.
Hospitality Consultants. However, some assumptions inevitably will not materialize, and unanticipated events and circumstances may occur;
therefore,
actual HIGHLIGHTS
results achieved during the projection period will vary from the projections, and the variations may be material.
FINANCIAL
Purchase Price
Number of Rooms
Price per Room
$6,500,000
206
$31,533
Purchase Price
Cap Rate
Number of Rooms
Interest Conveyed
Price per Room
Terms
$6,500,000
10.1%
206
Fee Simple
$31,533
Lease Purchase
Financial Highlights
10
Cap Rate
Interest Conveyed
Terms
10.1%
Fee Simple
Lease Purchase
10
Capital Gain
Days Inn & Pensacola Inn, Pensacola, Florida
As An Economy Extended Stay Hotel
SOURCE & USE OF FUNDS
Property Acquisition
Closing Costs 3.0%
Total Use of Funds
6,500,000
None
6,500,000
First Mortgage
Equity
Total Source of Funds
5,200,000
6.5%
20yrs
Monthly Payment
Annual Payment
5,200,000
1,300,000
6,500,000
FIRST MORTGAGE
Mortgage Amount
Interest Rate
Amortization Period
Beginning Balance
Annual Payment:
Less Portion to Interest
Less Portion to Principal
Ending Balance
38,770
465,240
2010
5,200,000
2011
5,068,202
2012
4,929,025
2013
4,779,780
2014
4,620,539
334,140
131,098
5,068,202
335,360
139,877
4,929,025
315,992
149,245
4,779,780
305,997
159,240
4,620,539
295,332
169,905
4,269,350
Year One
660,740
66,074
594,666
465,290
129,426
3.6%
Year Two
765,730
76,573
689,157
465,290
223,917
2.1%
Year Three
857,240
85,724
771,516
465,290
306,276
1.5%
Year Four
953,560
95,356
858,204
465,290
392,964
1.2%
Year Five
1,046,150
104,615
941,535
465,290
476,295
1.0%
YEARLY CASH FLOW SUMMARY
Less Discount Rate 10.0%
Adjusted Net Operating Income
Less First Mortgage Annual Payment
Cash Flow after Debt Service
Debt Service Coverage Ratio
CAPITAL GAIN CALCULATION
Year Six Net Operating Income
Discount Rate 10.0%
Adjusted Net Operating Income
Terminal Cap Rate
Gross Sale Price
Less Selling Costs 5.0%
Net Sales Price
Less Remaining 1st Mortgage Bal.
Less Return of Equity
Capital Gain
492,040
3.3% over yr 5
49,204
442,836
10.1%
6,500,000
(325,000)
6,175,000
(4,269,350)
(1,300,000)
605,650
Note: These projections are based on estimates and assumptions developed in connection with the Feasibility Study. However, some assumptions
inevitably will not materialize, and unanticipated events and circumstances may occur; therefore, actual results achieved during the projection period
will vary from the projections, and the variations may be material.
Details of Lease Purchase
• A Refundable Escrow Earnest Deposit of
$50,000 would be made at the time of
the Purchase Letter of Intent.
• A Refundable Purchase Deposit, totaling $550,000 would be held by the mortgage holder.
• A Nonrefundable Cash Deposit of $700,000 will be made at closing.
• At the end of two years, or sooner, if elected by the Buyer, the $600,000 of escrow funds will join
with the $700,000 Nonrefundable Deposit and be applied to the final purchase price of the hotel.
11
Pensacola, Florida
Optimum Proforma Year One 2010
Demand Season
Weeks
Room Mix:
Season
Shoulder
Balance of Year
2,3,6,7
4,5,8,9,10,11
1,12
Total Weeks
18
26
8
52
Rate per Room Per Week
# Rooms
Double/Double Studio
109
220.00
210.00
200.00
King Studio
44
195.00
185.00
175.00
Double Studio
53
170.00
160.00
150.00
Total Rooms
206
Optimum Revenue
One Double Bedrooms
109
431,640
595,140
174,400
1,201,180
Two Double Bedrooms
44
154,440
211,640
61,600
427,680
One-Bedroom/Sofa Suite
53
162,180
220,480
63,600
446,260
Total Optimum Revenue
206
748,260
1,027,260
299,600
2,075,120
Seasonal Occupancy
Optimum Guest Room Nights
70%
65%
60%
66.0%
3,708
5,356
1,648
10,712
2,596
3,481
989
7,066
Seasonal Revenue
23,782
667,719
179,760
1,371,261
Seasonal Average Daily Rate
201.80
191.80
181.80
194.07
Seasonal Guest room Nights
Year One Average Weekly Rate Use
Year One Occupancy Use
$195.00
66.0%
Note: These projections are based on estimates and assumptions developed in connection with the Market Research. However, some
assumptions inevitably will not materialize, and unanticipated events and circumstances may occur; therefore, actual results achieved
during the projection period will vary from the projections, and the variations may be material. Compiled by Interim Hospitality
Consultants, Tallahassee, Florida.
Real Estate & Property Taxes
Real Estate and Personal Taxes for the Days Inn & Pensacola Inn.
DAYS INN - 2005
Pensacola Inn - 2005
GEO Number: 391S30-1107-001-001
GEO Number: 391S30-1107-000001
type
Assessed
Value
Tax
Amount
type
Assessed
Value
Tax
Amount
Personal
$98,650.00
$2,168.53
Personal
$98,650.00
$2,168.53
Real Estate
$3,086,060.00
$57,107.83
Real Estate
$3,164,880.00
$58,503.84
Acreage
Source: Escambia County Tax Collector
12
3.56±
Acreage
3.99±
Proper ty
Description
13
Site Location
The Site The site of the Days Inn & Pensacola Inn is located on the west side of Pensacola
Boulevard (U.S. 29), approximately 500 feet south of “W” Street. The property address is 6501
Pensacola Boulevard, Pensacola Florida..
Highways U.S. Route 29 is a north-south United States highway that runs for 1,036 miles from the
western suburbs of Baltimore, Maryland, to Pensacola, Florida. The highway’s northern terminus is at
Maryland Route 99 in Ellicott City, Maryland. Its southern terminus is at U.S. Route 90 and U.S. Route
98 in Pensacola, Florida.
A section of U.S. 29 between Greensboro, North Carolina, and Danville, Virginia, has been designated
as Future Interstate 785 and has received Future Interstate shields in several locations on that route.
It will become an official interstate once improvements have been completed. From Greensboro,
North Carolina, to Tuskegee, Alabama, U.S. 29 is paralleled by Interstate 85, and as such serves
primarily as a local route.
From Greensboro, North Carolina, to Tuskegee, Alabama, U.S. 29 is paralleled by Interstate 85, and as
such serves primarily as a local route.
Pensacola Boulevard is a designated Hurricane Evacuation Route from Pensacola to points north in
Alabama.
Proposed Pinestead-Longleaf Corridor The City of Pensacola has proposed to establish a
connector corridor (East-West) between Pine Forest Road and Pensacola Boulevard to assist traffic
flow in Pensacola.
site map
Pensacola Inn
ola
sac
Pen
d
var
ule
Bo
Days Inn
14
Days Inn and Econolodge Hotels, Pensacola, Florida, Parcel Boundaries
(Not for official use)
PROPERTY DESCRIPTION
TRAFFIC COUNTS
ROUTE
I-10, east of U.S. 29
I-10, west of U.S. 29
U.S. 29, south of I-10
2007
56,500
41,500
46,500
Source: Florida Department of Transportation
TRAFFIC COUNT MAP
Traffic Counts
Days Inn &
Pensacola Inn
0 mi
0.5
1
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Certain mapping and direction data © 2007 NAVTEQ. All rights reserved. The Data for areas of Canada includes information taken with permission from Canadian authorities, including: © Her Majesty the Queen in Right of Canada, © Queen's Printer for
Ontario. NAVTEQ and NAVTEQ ON BOARD are trademarks of NAVTEQ. © 2007 Tele Atlas North America, Inc. All rights reserved. Tele Atlas and Tele Atlas North America are trademarks of Tele Atlas, Inc.
1.5
UTILITIES
utility
Electric
Water
Natural Gas
Telephone
Television
Internet
Trash
PROVIDER
Gulf Power
Emerald Coast Utility Authority (ECUA)
City of Pensacola
Deltacom
Cox Communication
Cox Communication
Emerald Waste Services
15
Hotel Facilities
Lobby The casual and attractive lobbies in the Days Inn provide a striking first impression to guests
as well as a location for impromptu meetings and phone calls.
Guest Rooms Meet and exceed the design of hotels in the Competitive Market Set; the 206
rooms are 12 feet wide. The room mix is 109 Double/Double bed rooms, 53 One-Double bed
rooms and 44 King bed rooms.
In addition to the high standards of a Days Inn, all 206 rooms include a coffee maker positioned on
the counter top. A microwave oven and under-counter refrigerator is found in all guest rooms.
The latest technology in wired and wireless Internet service is provided in all rooms and is
complimentary. All local calls are complimentary.
All bathrooms include a designer shower curtain, hair dryer and iron and ironing board.
The hotel uses “Green Room” policy of housekeeping services in all rooms.
Meeting Rooms The Days Inn has two 100-person Meeting Rooms in the lobby area.
Business Center The Days Inn has a Business Center, located in the Lobby near the Front Desk,
and is provided for complimentary use by the hotel’s guests. This center is composed of a desk with a
computer (with Internet connection), monitor and printer.
Laundr y A Guest Laundry is also provided.
Proposed Extended Stay Room Conversion
From the Market research, it has been confirmed that to maximize the operational profit of the
Days Inn, a new buyer should adopt the strong recommendation in that the Days Inn be converted
to a Budget Extended Stay — small apartment style — Hotel. The pictures on the facing page are of
the converted Tallahassee Suburban Extended Stay Hotel.
16
The existing
Tallahassee
Suburban
Extended Stay Hotel
The
existing
Tallahassee
converted from a hotel
similar
to
the
Pensacola Days
Inn.
The existing Tallahassee
Suburban
Extend
The existing
The
existing
Tallahassee
Tallahassee
Suburban
Suburban
Extended
Stay Hotel
Stay Hotel
Suburban
Extended
Stay Extended
Hotel
converted
from
a the
hotel
similar
to theInn.
Pens
converted
converted
from a hotel
from
similar
a hotel to
similar
the
Pensacola
to
Pensacola
Days
Inn.
Days
converted from a hotel similar to the
Pensacola Days Inn. (New page) 15
(New page)
(New
15page) 15
17
18
Pensacola Inn breakfast room, guest room, and exterior.
Construction Features
Age: Originally built in 1960, operated as a Holiday Inn.
Land Area: The site area is approximately 8 acres
Foundation:Reinforced monolithic concrete, continuous spread footings, and slab on ground floor.
Structure:Concrete Block, two stories.
Rooms:Days Inn and existing Pensacola Inn 22 feet by 12 feet The 5-foot by 5-foot-six-inch
Bathroom includes a vanity in the Guest Room.
Facade: Bricked stucco.
Property Snapshot
Interior Walls: Dry wall and plaster.
Ceilings: Acoustical tile and painted drywall.
Roof: Shingle, flat roof.
Windows:Tempered glass at all common areas entrances. Guestroom windows with aluminum
framing flush to outside wall.
Interior Flooring:Interior floors are surfaced with carpet in guest rooms and some public areas,
ceramic tile flooring in the lobby area and tile floor in guest bathrooms.
HVAC:206 units of General Electric PTAC.
Elevators: None.
Key System: Onity Electronic Key System.
Fire Protection: Smoke detectors in guestrooms and public spaces. Fire sprinkler system to ADT.
Laundry:The Days Inn has (presently not utilized) 2 Milnor washers of 50 pounds each,
1 75-pound Unimac washer, 2 Unimac dryers of 100 pounds each and 2 Huebsch
dryers of 100 pounds each.
The Pensacola Inn has 2 Unimac washers of 75 pounds each and 2 Unimac 100pound dryers. .
Boilers:Pensacola Inn: 1 Rheem Ruud, 116 gallons; and 2 Rheem Ruud, 120 gallons each.
Days Inn: 1 Rheem Ruud, 250 gallons.
Parking: 335 Total both properties. Extra parking for function space.
19
The Wyndham
Worldwide Advantage
As one of the world’s largest hospitality companies, Wyndham
Worldwide offers travelers around the globe, as well as hotel
investors, developers, and operators, a broad suite of hospitality
products and services across various accommodation alternatives
and price ranges. They have built a significant presence in major
hospitality markets in the United States and throughout the world.
• Wyndham Hotel Group: They franchise hotels in the upper
upscale through economy segments of the lodging industry and
provide property management services to upscale properties
through Wyndham Hotel Management
• Wyndham Vacation Ownership: They market and sell vacation
ownership interests to individual consumers, provide consumer
financing in connection with the sale of vacation ownership
interests, and offer property management services at resorts
• Group RCI: They provide vacation exchange products and
services to customers who own vacation ownership intervals,
and market vacation rental properties primarily on behalf of
independent owners
Wyndham Hotel Group Wyndham Hotel Group franchises
hotels and provides property management services around the
globe.
• The world’s largest lodging franchisor, as measured by the number
of franchised hotels
• The franchisor of 12 lodging brands that include upper upscale
through economy accommodations
• More than 6,500 franchised hotels and more than 550,000 rooms
on six continents, which constitute more than 10% of all U.S.
hotel-room inventory
• The marketer of the Wyndham Rewards® loyalty program, the
lodging industry’s largest loyalty program as measured by the
number of participating hotels
20
Choice Hotels International (NYSE: CHH) is one of the largest and
most successful lodging companies in the world. Choice currently
franchises more than 5,900 hotels, representing more than 479,000
rooms, in more than 30 countries and territories. Ranging from limited
service to full-service hotels in the economy, midscale and upscale
segments, Choice-branded properties provide business and leisure
travelers with a range of high-quality, high-value lodging options
throughout the United States and internationally. For more information
on Choice, visit the company’s web site at www.choicehotels.com.
About Choice Hotels International
Financial Strength
Choice Hotels has a solid financial position due to the strong, growing
and predictable cash flows provided by its 5,900-plus hotels open
worldwide. The company generates revenues, income and cash flows
primarily from initial and continuing royalty fees attributable to its
growing number of franchised properties. Choice strives every day to
continuously improve its franchise offerings to enhance its customers’
profitability and create the highest return on investment of any hotel
franchise. The company’s capital allocation decisions are intended to
maximize return on invested capital and create shareholder value..
A Strong Brand
Choice Hotels has 10 popular brands, from select-service upscale
to economy. All value engineered to make your investment as cost
efficient as possible. All well positioned to maximize your return.
21
Days Inn & Econolodge
An expanded customer base. A determined focus on consistency and quality. And more
development avenues. These are just a few of the benefits Days Inn & Econolodge franchises have
enjoyed since affiliating with the Wyndham Hotels & Resorts® chain in 2008 and will experience with
Choice Hotels International — and the momentum is growing.
Market Position For smart, travel-savvy professionals, Days Inn & Econolodge provide a pleasant
and productive environment complete with enabling technologies, superior customer service, and
relevant amenities. The decisive advantage is in the prototype details, all of which are designed to
exceed guests’ expectations and provide a compelling value proposition.
All-inclusive Pricing And Standard Amenities Include:
• High-speed wired and wireless Internet access in all guest rooms
and public spaces
• Local calls free to all guests
• Hot continental breakfast with a variety of choices
• Faxes, copies and printing in the 24-hour business center
• USA TODAY newspaper
• Express check-out
• Bathroom amenities from well-known brands
• Upgraded bed experience featuring top-of-the-line mattress and
box spring and more plush pillows and linens
• In-room coffee maker, iron, and ironing board
Similar Extended Stay Hotel Brands
• Suburban
• Value Place
• Extended Stay America
22
Bolstered by strong RevPAR, ADR, ad reservation contributions, opportunities for growth in untapped
markets, an updated prototype, loyal customers and an opportune affiliation with Wyndham Hotels and
Resorts and Choice Hotels International , it is an exciting time to be a Days Inn & Econolodge franchisee.
It is also a great time to develop a Days Inn & Econolodge property. Both hotel franchises play an active
role in helping franchisees get off on the right foot and are a resource throughout the development
process. The value developers receive includes a comprehensive prototype package, which provides
an integrated set of drawings, reusable sheets, project specifications, “designer notes” for site-specific
architects and a list of approved architectural firms who are knowledgeable about the prototype as well
as LEED guidance. Much more than a simple set of design documents, the prototype is an introduction
of a superior and efficient project delivery system. The result: an easier, more cost-effective development
process.
Days Inn & Econolodge
Means Serious Support
From a customer standpoint, Days Inn & Econolodge locations have a consistent look and feel, and the
brand ensures that the hotels are continuously updated and look fresh.
Prototypes Allow Flexibility While the prototype and brand standards guide franchisees in the
creation and management of a quality product, developers also appreciate the brand’s flexibility in
helping to create a unique experience. By incorporating franchisee feedback, Days Inn & Econolodge
allows flexibility building a product that works best in your particular environment while maintaining the
signature amenities that define Days Inn & Econolodge.
Customer Satisfaction The focus on delivering a quality, consistent stay is paying off as the brand
has developed a loyal following of satisfied guests, which is reflected in Days Inn & Econolodge’s strong
showing in the J.D. Power and Associates ranking.
23
24
Revenue Data
Days Inn
2006
OCC
ADR
ROOM REV.
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
TOTAL
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
56.0%
68.0%
60.0%
41.0%
65.0%
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
103,547
108,925
115,931
92,322
111,057
132,310
138,697
127,379
82,033
81,423
83,714
68,801
124,6139
2007
OCC
ADR
ROOM REV.
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
TOTAL
60.0%
64.0%
79.0%
55.0%
68.0%
81.0%
76.0%
77.0%
52.0%
61.0%
50.0%
44.0%
64.0%
50.86
53.38
55.34
52.93
52.06
51.84
53.66
50.08
51.62
48.12
47.92
51.15
35.19
69,745
77,199
112,775
66,246
87,965
103,475
115,387
87,540
60,813
68,005
54,251
50,174
953,575
2008
OCC
ADR
ROOM REV.
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
TOTAL
32.3%
46.4%
40.4%
28.7%
53.3%
50.0%
49.9%
42.4%
51.8%
14.3%
12.0%
17.9%
34.1%
43.85
45.14
39.44
44.31
36.52
38.01
45.66
43.14
45.14
43.23
38.11
37.00
41.63
32,733
32,574
44,058
51,669
55,461
50,733
66,994
49,665
36,200
33,489
33,211
41,834
528,621
OTHER
pensacola inn
TOTAL REV.
OCC
ADR
ROOM REV.
OTHER
TOTAL REV.
TOTAL REV.
OCC
ADR
ROOM REV.
OTHER
TOTAL REV.
69,745
77,199
112,775
66,246
87,965
103,475
115,387
87,540
60,813
68,005
54,251
50,174
953,575
36.0%
43.0%
55.0%
29.0%
58.0%
57.0%
55.0%
75.0%
49.0%
52.0%
26.0%
20.0%
46.3%
44.18
45.88
53.06
44.31
51.26
55.46
52.95
46.12
46.26
43.74
403.81
39.89
32.02
35,569
41,570
62,767
25,645
58,485
61,045
51,944
51,059
36,083
32,195
17,951
12,764
487,077
103,547
108,925
115,931
92,322
111,057
132,310
138,697
127,379
82,033
81,423
83,714
68,801
1,246,139
OTHER
OTHER
TOTAL REV.
OCC
ADR
ROOM REV.
32,733
32,574
44,058
51,669
55,461
50,733
66,994
49,665
36,200
33,489
33,211
41,834
528,621
32.3%
46.4%
40.4%
28.7%
53.3%
50.0%
49.9%
42.4%
51.8%
14.3%
12.0%
17.9%
34.1%
43.85
45.14
39.44
44.31
36.52
38.01
45.66
43.14
45.14
43.23
38.11
37.00
41.63
11,810
17,516
13,528
23,882
37,326
36,948
48,175
38,256
20,359
13,272
9,069
13,948
284,089
35,569
41,570
62,767
25,645
58,485
61,045
51,944
51,059
36,083
32,195
17,951
12,764
487,077
OTHER
TOTAL REV.
11,810
17,516
13,528
23,882
37,326
36,948
48,175
38,256
20,359
13,272
9,069
13,948
284,089
2009
OCC
ADR
ROOM REV.
TOTAL REV.
OCC
ADR
ROOM REV.
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
TOTAL
50.6%
58.3%
60.6%
57.0%
66.1%
64.9%
65.9%
43.83
44.24
47.28
46.38
42.51
43.46
48.16
37,909
39,679
47,949
45,920
57,945
59,378
67,910
37,909
39,679
47,949
45,920
57,945
59,378
67,910
32.5%
41.9%
47.6%
39.3%
41.1%
61.1%
73.0%
44.64
41.71
45.86
44.35
49.57
46.64
49.40
13,930
29,576
15,519
13,542
13,449
15,357
20,526
13,930
29,576
15,519
13,542
13,449
15,357
20,526
50.5%
45.12
356,690
356,690
48.8%
46.02
121,899
121,899
OTHER
OTHER
Source: Pensacola Days Inn & Pensacola Inn; compiled by Lodging Realty Services, LLC. Totals may not foot due to rounding
TOTAL REV.
Days Inn guest room and fitness center.
25
Neighborhood Hotel Overview
The following summarizes the important operating characteristics of the competitors.
Ramada
7051 Pensacola Blvd.
Pensacola, Florida 32505
850.746.9091
78 Rooms
Quality Inn
850.477.0711
104 Rooms
Howard Johnson
850.478.4499
97 Rooms
Palm Court Inn
850.479.3800
90 Rooms
26
850.484.5451
50 Rooms
Luxur y Suites
Hospitality Inn
850.477.2333
118 Rooms
Executive Inn
850.478.4015
36 Rooms
Travelodge
850.473.0222
60 Rooms
27
Motel 6
850.494.1122
108 Rooms
America’s Best Value Inn
850.479.8600
62 Rooms
Pensacola Economy Extended Stay Hotels
Suburban Extended Stay Hotel
3984 Barrancas Venue
850.453.4140
129 Rooms
Extended Stay America
Pensacola - University Mall
809 Bloodworth Lane
850.539.0036
101 Rooms
28
Neighborhood Hotels
Neighborhood Hotels Map
Days Inn &
Pensacola Inn
0 mi
0.5
1
poration and/or its suppliers. All rights reserved. http://www.microsoft.com/streets/
AVTEQ. All rights reserved. The Data for areas of Canada includes information taken with permission from Canadian authorities, including: © Her Majesty the Queen in Right of Canada, © Queen's Printer for
re trademarks of NAVTEQ. © 2007 Tele Atlas North America, Inc. All rights reserved. Tele Atlas and Tele Atlas North America are trademarks of Tele Atlas, Inc.
29
Smith Travel Research — Pensacola, Florida
Competitive Market Set
The following hotels were combined to report their historical Occupancy and Average Daily Rate
from January 2000 through December 2006.
Name of Establishment
Residence Inn Pensacola Downtown
Homewood Suites Pensacola Airport
Extended Stay America Pensacola University Mall
Residence Inn Pensacola University Mall
Suburban Extended Stay Naval Air Station
City, State
Franchise
Date
Date
Opened
Number of
Rooms
Pensacola, FL
Pensacola, FL
Pensacola, FL
Pensacola, FL
Pensacola, FL
Aug 1998
Jan 2003
Sep 1997
Jun 1985
Sep 1999
Aug 1998
Jan 2003
Sep 1997
Jun 1985
Sep 1999
78
107
101
64
128
5
478
Total Proper ties:
Source: Smith Travel Research, Hendersonville,Tennessee
Note: Room counts in the Smith Travel Research Occupancy Data may vary from the room count reported by individual hotels due to usage
of the rooms by the hotel management.
Market Trend Pensacola, Florida — Competitive Market Set
Year
Occupancy
ADR
RevPAR
Room Supply
2000
2001
2002
2003
2004
2005
75.6
78.1
81.3
73.1
82.7
92.0
60.17
59.32
61.89
71.14
74.10
85.57
45.51
46.35
50.35
51.99
61.31
78.69
371
371
371
478
478
478
Source: Smith Travel Research, Hendersonville,Tennessee; Compiled by Interim Hospitality Consultants,Tallahassee, Florida.
Economy Extended
Stay Hotels
Economy Extended-Stay Hotels
Days Inn &
Pensacola Inn
0 mi
30
1
2
3
4
Copyright © and (P) 1988–2007 Microsoft Corporation and/or its suppliers. All rights reserved. http://www.microsoft.com/streets/
Certain mapping and direction data © 2007 NAVTEQ. All rights reserved. The Data for areas of Canada includes information taken with permission from Canadian authorities, including: © Her Majesty the Queen in Right of Canada, © Queen's Printer for
Ontario. NAVTEQ and NAVTEQ ON BOARD are trademarks of NAVTEQ. © 2007 Tele Atlas North America, Inc. All rights reserved. Tele Atlas and Tele Atlas North America are trademarks of Tele Atlas, Inc.
5
Pensacola Extended-Stay Market Set
100
90
80
70
60
50
40
Jan
Feb
Mar
2000
Apr
May
2001
Jun
2002
Jul
Aug
2003
Sep
2004
Oct
Nov
2005
Dec
2006
Source: Smith Travel Research, Hendersonville, Tennessee
100
90
80
70
60
50
Jan
Feb
2000
Mar
Apr
2001
May
2002
Jun
Jul
2003
Aug
Sep
2004
Oct
2005
Nov
Dec
2006
Source: Smith Travel Research, Hendersonville, Tennessee
31
32
Blue Angels Flight Demonstration Team
The Blue Angels’ mission is to enhance Navy and Marine Corps recruiting and to represent the naval
service to the United States, its elected leadership, and foreign nations. The Blue Angels serve as
positive role models and goodwill ambassadors for the U.S. Navy and Marine Corps. A Blue Angels
flight demonstration exhibits the choreographed refinements of the Navy-trained flying skills. It
includes the graceful aerobatic maneuvers of the four-plane Diamond Formation, in concert with the
fast-paced, high-performance maneuvers of its two solo pilots. Finally, the team illustrates the pinnacle
of precision flying, performing maneuvers locked as a unit in the renowned six-jet Delta Formation.
Stationed during the show season at Forrest Sherman Field, Naval Air Station Pensacola Florida,
visitors are encouraged to attend open practice sessions. Contact the Air Station for dates and times.
Since its inception in 1946, the Blue Angels have performed for more the 400 million fans.
Pe n s a c o l a
Market
Summar y
Beaches of the Gulf Coast
History
Pensacola was founded by Don Tristan de Luna under King Phillip of Spain on August 14, 1559, six
years before the settlement of St. Augustine. Pensacola got its name from the Panzacola Indians who
greeted the first Spanish explorers in 1559, when Don Tristan de Luna led 1,400 colonists to what
is now Pensacola Beach. But a major hurricane sank ships, drowned livestock, and prompted them
to flee. Although the Panzacola Indians are now extinct, Creek Indians live in the area and celebrate
their traditions.
More conquistadores arrived in 1698. Spanish soldiers, aided by slaves, built a fort at what is now the
Naval Air Station on Pensacola Bay. That settlement was unearthed in 1998 and opened to the public.
A bastion and educational kiosk help you imagine life over 300 years ago.
Two years after its founding, the settlement was abandoned due to dissension among its inhabitants.
One hundred and thirty-seven years after the abandonment, the city was resettled by the Spanish
and has continued to this day. The French captured Pensacola in May, 1719. Spain regained physical
control in November of 1722. Pensacola remained in the hands of the Spanish for many years until,
as a result of a European agreement, it passed into the hands of the British in 1763. Pensacola once
again changed hands during the Civil War, when the Confederate Government abandoned the city to
Union forces, who flew the flag of the United States. During the more than 400 years of its history,
the City of Pensacola changed hands 13 times and the flags of five different nations have flown over
its forts.
Pensacola has three designated historic districts in the city -Seville Historic District, Historic Pensacola
Village and Downtown -and numerous historic buildings and locales in surrounding areas. The rich
history of Pensacola is celebrated annually during the Fiesta of Five Flags. This Top 20 celebration is
one of the oldest and largest festivals in Florida and is held every June.
The National Museum of Naval Aviation is one of the largest aviation museums in the world,
attracting more than a million visitors annually. The Museum, where admission is free, houses more
than 140 diverse authentic aircraft, spanning the full history of naval aviation and including scores of
unusual and one-of-a-kind aircraft and other artifacts. The Museum also contains the largest IMAX
theater in the southeast, presenting the Museum’s own film, “The Magic of Flight,” which explores the
allure of high-performance flight using naval aviation as the vehicle as well as other large-screen films.
The Pensacola Museum of Art, located in the historic district in the Old City Jail Building, hosts
changing exhibitions and related educational programming throughout the year. The Pensacola
Historical Museum presents Pensacola history through four major themes: Area Indians, our
Multicultural Heritage, Maritime History and A Military Town. The Historical Resource Center
contains photographs, manuscripts, maps and other materials for those researching local history and
genealogy.
Admission to the T. T. Wentworth, Jr. Florida State Museum includes admission to several other points
of interest in nearby Historic Pensacola Village, a complex of museums and historic sites dedicated
to the interpretation of Pensacola’s romantic past. The Civil War Museum follows the Civil War
chronologically from the beginning of slavery to President Lincoln’s assassination.
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traditional coastal defense obsolete. Fort Pickens has changed over the years, so take the self-guided tour
and peel back the layers of history. It'll lead you to cannon emplacements, powder magazines, and show
you where Bastion D isn't: the corner of the fort that was destroyed when a warehouse fire reached
a magazine holding four tons of black powder. The 1899 explosion showered debris over 1-1/2 miles,
reaching Fort Barrancas at the naval air station on the mainland.
The Navy shipyard, established in 1825, evolved into an air station, propelling Pensacola into the forefront
of naval aviation. This affiliation produced many distinguished military soldiers, sailors and aviators, including
the first African American to become a four-star general in the Air Force, Chappie James of Pensacola,
who flew 100 combat missions in Korea and Vietnam.
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Fort Pickens The Fort was completed in 1834 and used until WWII, when modern weapons made
City Nicknames
Cradle of Naval Aviation All Navy, Marine and Coast Guard start their aviation training in Pensacola.
The U.S. Navy Blue Angels call us home and practice here weekly from March to November.
Western Gate to the Sunshine State Famous local saying: "Welcome to the western gate of the
Sunshine State, where thousands live the way millions wish they could."
America's First Settlement In 1559, before St. Augustine was discovered by European explorers,
Spanish explorer Don Tristan de Luna brought an expedition to Pensacola's shores. The settlement didn't
weather its first hurricane very well, so a few years later it was abandoned.
City of Five Flags In its 400 years of history, Pensacola has been ruled by Spain, France, England, the
United States and the Confederacy.
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Accolades for Pensacola
"Best Places for Business" Pensacola MSA ranked 76th, surpassing cities such as Miami, Jacksonville
and Orlando in Forbes magazine's May 23rd issue listing 150 large metro areas as "Best Places for
Business."
"Best Places for Doing Business in America “2005 Pensacola MSA ranked 33rd out of 274 thriving
population centers in Inc. magazine's "Best Places for Doing Business in America 2005" above
Tallahassee and West Palm Beach.
Pensacola Population Overview
Population
Total population
Square miles (land)
Population per square mile
Gender
Male
Female
Age
15 or younger
16-24
25-44
45-64
65 and over
Average age (years)
Race and Ethnicity
White
Black or African American
American Indian and Alaska native
Asian
Native Hawaiian/other Pacific Islander
Some other race
Two or more races
Hispanic or Latino
Number
56,255
22.70
2,478.6
Number
26,416
29,839
Number
10,534
7,363
15,148
13,520
9,690
39.51
Number
36,514
17,203
291
998
35
306
908
1,167
Pct.
47.0
53.0
Pct.
18.7
13.1
26.9
24.0
17.2
Pct.
64.9
30.6
0.5
1.8
0.1
0.5
1.6
2.1
Source: epodunk.com; 2000 Census
Climate
Average Weather in Pensacola, Florida
Jan Feb Mar Apr May Jun Jul Aug Sep
Average Temperature (F) 52.0 54.9 61.0 66.9 74.6 80.6 82.6 82.2 78.7
High Temperature
61.2 64.4 70.2 76.2 83.4 89.0 90.7 90.1 87.0
Low Temperature
42.6 45.3 51.6 57.5 65.7 72.0 74.4 74.1 70.3
Precipitation
5.4 4.7 6.4 3.9 4.4 6.4 8.0 6.8 5.8
Source: http://www.city-data.com
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Oct
69.5
79.3
59.5
4.1
Nov
60.7
70.3
51.0
4.5
Dec
54.1
63.4
44.6
4.0
Pensacola's economy traditionally has been based on its natural resources: water, lumber and agriculture.
Today, it relies on another natural resource: its people. Pensacola still boasts the Navy as its number one
employer, but tourism, industry, health care and education make up the majority of its workforce and
economy.
Industry, large and small, continues to provide job opportunities for Pensacolians and the school systems
and universities are responsive to businesses and are supported by high-tech military training in the
region.
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Economy
Pensacola, Florida Major Employers
Employers
Sacred Heart Health System
Baptist Health Care
University of West Florida
Solutia, Inc.
Lakeview
Gulf Power Company
West Florida Hospital
Pensacola Christian College
International Paper
Pensacola Junior College
West Corporation
Medical Center Clinic
Network Telephone
ECUA
SMG Food Services
Santa Rosa Medical Center, Inc.
Washington Mutual Finance
Wayne Dalton Corporation
CHCS Services, Inc.
Pensacola New Journal
DANA Coupled Products
Armstrong World Industries
General Electric
NO. of Employees
3,500
3,470
2,267
1,800
1,500
1,400
1,200
1,078
900
770
750
725
582
510
475
450
433
400
408
406
300
300
250
Industry
Health Care Service
Health Care Service
Education
Nylon Fiber/Industrial Organic Chemistry
Health Care Service
Electric Utility
Health Care Service
School and Publishing
Paper Products
Education
Broadband Wireless Support
Health Care Service
Communications Services
Public Utilities
Entertainment & Food Services
Health Care Service
Financial Service
Garage Door Manufacturer
Insurance Claims
Newspaper
Automobile Brake Systems
Acoustical Ceiling Products
Wind Energy Systems
Source: Pensacola Bay Area Chamber of Commerce
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Sports
When it comes to sports, Pensacola is a major player. The City of Champions, Pensacola is home to
many popular athletes and hosts an array of exciting professional and amateur competitions at its
many diverse venues.
Professional Sports
The Pensacola Ice Pilots, part of the East Coast Hockey League, play in the Pensacola Civic Center in
fall and winter.
The Pensacola Pelicans, the 2002 Southeastern League of Professional Baseball champions, play at the
University of West Florida from June to August.
The Snowball Derby is held every December at Five Flags Speedway that also hosts other auto
racing competitions throughout the year.
Pensacola Greyhound Track offers live racing excitement and simulcast horse racing events.
The 2005 National Indoor Speed and Figure Skating Championship took place from July17th through
August 7th at the Pensacola Civic Center.
The Pensacola Power, three-time Southern Conference champions of the National Women's Football
Association, play April through June.
Amateur Competitions The Double Bridge Run is held each February, offering courses of various
lengths, the longest of which is a 15K that takes runners across two bridges, ending at Pensacola
Beach.
In the Pensacola Marathon, held each February, runners can participate in a full or half marathon. This
USATF-certified course showcases the beauty of the Pensacola Bay Area and provides runners a
challenging yet memorable race that is sure to become a southeastern running tradition.
The Blue Angel Marathon is 26.2 miles of flat to rolling terrain through historic NAS, downtown
Pensacola, and along the waterfront of Pensacola Bay. The Marathon is recognized by the Road
Runners Club of America, attracts over 2,000 runners each year and is a qualifier for the Boston
Marathon.
Santa Rosa Island Triathlon, held each October, was named one of the Seven Best Triathlons in the
World of 2002 by Inside Triathlon magazine. It was also named Best Small Triathlon of 1999 and Best
Large Triathlon of 2000 by USA Triathlon.
Fort-to-Fort Swim is an open-water swim across Pensacola Bay between Fort Barrancas and Fort
Pickens.
American Amateur Classic, started in 1970, is a golf tournament that takes place on four Pensacola
Bay Area courses: Pensacola Country Club, Marcus Pointe Gulf Club, Tiger Point Golf & Country
Club, and The Moors. While you'll compete with players of similar abilities, some of the world's top
amateurs will round out the field.
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McGuire's 5K Prediction Run-held on a Saturday near St. Patrick's Day each March. Runners predict how
long it will take them to finish, and those predictions which are closest to actual times win.
Recreational Facilities & Venues
Pensacola Civic Center hosts professional hockey and national roller-skating championships as well as
basketball and mat sports events.
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UWF Spring Fling - University of West Florida Lady Argo's host steams (Feb-Apr) from across the nation
and of various divisions in a fast pitch softball tournament.
Escambia County Equestrian Center, a 177-acre site, seats 4,000 spectators. In addition to horse events,
the facility is used for livestock shows, dog shows and other entertainment events.
The City of Pensacola's Roger Scott Tennis Complex features 18 lighted courts, a pro shop, lessons and is
open to the public.
A 40-mile, scenic recreational path for walkers, in-line skaters, baby strollers and bicycles that wraps
around Santa Rosa Island, along the coast and through Gulf Breeze.
Exchange Park is a four-field softball complex that hosts both slow-pitch and fast-pitch tournaments
throughout the year.
Escambia County Ashton Brosnaham Complex is a multifield soccer complex, also suitable for flag
football, rugby and lacrosse.
Area Attractions
The Pensacola area has a wide array of activities to suit
everyone's needs. Sparkling white sand and warm gentle
breezes complement the emerald-green waters of the
Gulf of Mexico. The nearby beaches of Pensacola Beach
and Perdido Key beckon visitors with their natural beauty.
With more than 40 miles of sugar-white beaches, covered
with dunes and sunshine galore, the Pensacola area is
paradise. The shoreline offers residents the chance to take
a swim in the Gulf of Mexico and develop a tan in the
process. The coastline also offers some of the best fishing
along the Gulf.
The Gulf of Mexico, bays and freshwater rivers are perfect
for swimming, boating, fishing and more.Free access is
available to all waterways, including 20 boat ramps, with
public picnic, camping and swimming facilities widely
available. Area beaches have been designated as best in
the world by "The Beach Doctor." Gulf Islands National
Seashore offers many opportunities to enjoy the outdoors.
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Fishing and boating opportunities are virtually limitless. Reeling in trout from one of many fishing
bridges, surf casting in the Gulf of Mexico, trolling for game fish on one of the many charter fishing
boats, or bringing in a large-mouth bass from one of the area’s freshwater rivers are just a few of the
ways to spend time near the water. Many seasoned charter captains are available for hire. Sailing the
local bays is a favorite pastime and there are plenty of sailboat rentals and charters available.
Golf
The Pensacola area’s temperate climate allows yearround enjoyment of golf on the choice of one of
15 public and 3 private local courses. Numerous
tournaments are scheduled each year, with one of the
most exciting being the Senior PGA Blue Angel Classic
in April. Each spring, the Blue Angels Classic, an official
Champions Tour event, is played at The Moors. The
Classic draws many of the biggest names in golf that play
before tens of thousands of The Moors near Milton.
Golf Courses
• Champion Golf Course
• Creekside Golf Course
• Destination Golf
Vacation Packages
• Global Travel
• Green Meadows Par 3
• Lost Key Golf Club
• Marcus Pointe Golf Club
• Osceola Golf Course
• Pensacola Country Club
• Scenic Hills Golf &
Country Club
• Solutia Golf Club
• Sportsman's Golf Resort
• Stonebrook Golf Club
• Tanglewood Golf Club
• The Club at Hidden Creek
• The Moors, Home of
the Blue Angels Classic
• Tiger Point Country Club
• Whiting Field Golf Course
Year-Round Quality Attractions
Pensacola showcases its military reverence with museums, forts and the Wall South, a replica of
the Vietnam Veterans Memorial in Washington, D.C. Diversity in shopping is also a treat. From the
national department stores in the malls to quaint specialty boutiques, Pensacola merchants offer
excellent value, quality and service.
National Museum of Naval Aviation The National Museum of Naval Aviation and IMAX
Theater is one of the three largest aviation museums in the world. Located aboard NAS Pensacola, it
provides visitors with an opportunity to see over 150 restored aircraft. The Pensacola area is also the
home of the world-class, high-flying US Navy Blue Angels, which perform here every year in July and
November. Its display of over 170 vintage aircraft chronicles more than nine decades of naval aviation
and spans 300,000 square feet. The IMAX Theater features two films daily.
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botanical gardens. Hand-feed giraffes, ride a train through a wildlife preserve, or walk a boardwalk 12 feet
above the animals. This lush, natural animal park is conveniently located minutes away from Pensacola
Beach and gives visitors a chance to get a close-up look at everything from alligators to zebras.
Florida’s Gulfarium Florida’s Gulfarium, the world’s
oldest marine show aquarium, is located about 30 miles
from Pensacola. Since 1955, millions of people have visited
the park.
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The ZOO The ZOO is home to more than 800 wild, not-so-wild and endangered animals and lush
Sam's Fun City Located in the heart of Pensacola, only
one mile from the Days Inn and Econolodge, Sam's Fun
City offers great family fun. General admission is free to
the Bay Area's largest amusement park. Sam's Fun City
features over 20 rides, go-karts, bumper boats, and mini
golf, with an arcade and waterpark in the works. The park
was named Best New Facility of 2001 by the International
Association for the Leisure and Entertainment Industry.
Also, Surf City Water Park, a division of Sam's Fun City,
opened in July 2005. The water park features a wave pool
and a 1,200-foot-long endless river.
Pensacola Greyhound Track The Pensacola Greyhound Track offers fun, food and excitement during
matinees and evening races.
T. T. Wentworth T.T. Wentworth Jr. Florida State Museum in downtown Pensacola offers a Discovery
Gallery, which recreates old-time Pensacola, complete with a child-sized schoolhouse, hospital and jail, and
even some oddities like a shrunken head.
Pensacola Interstate Fair Pensacola Interstate Fair offers entertainment, rides, food and exhibits for
11 days every October at the Pensacola Fairgrounds.
Area Festivals
Festivals that celebrate the arts, local culture, regional distinctions and, of course, seafood are plentiful in
the area.
Mardi Gras kicks off the festival year in February with parades, parties and general celebration. The
celebration culminates with a grand parade and the crowning of King Priscus.
The Annual Beulah Sausage Festival, now in its 17th year, prides itself on clean and wholesome
family entertainment featuring live country music from some of Nashville’s hottest acts, arts & crafts
booths, carnival-style rides & games and, of course, sausage.
The Pensacola Bay International Film and Television Festival celebrated its inauguration in
March 2003 and was such a success that it promises to be around for some time. The festival is built
around the theme of five flags and the five cultures that have made the city so vibrant and valuable.
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The Pensacola Jazz Fest, that celebrated its 24th year in
2008, always delivers a diverse group of headliners. Typical acts
include traditional New Orleans, Latin, and an assortment of
instrumental groups and vocalists.
The Annual Pensacola Crawfish Creole Fiesta
celebrates the Cajun influence in the Northwest Florida
Community. The event is one of the largest crawfish boils in
state. The festival also features authentic Bayou Country and
Louisiana entertainment.
GRACE is a faith-based community event organized by
hundreds of volunteers who attend more than 40 churches
encompassing 12 denominations-and it is still growing! The
event features national, regional and local independent artists.
Spring Fest The streets of downtown Pensacola come alive
with the sounds of good times as Spring Fest roars into action
in late May! Throughout the weekend over 80 national, regional
and local bands perform on six stages set up on closed-off
downtown Pensacola streets.
Fiesta of Five Flags Each June Pensacola drops what it’s doing
for the Fiesta of Five Flags celebration. This celebration is still
going strong after 53 years of providing the ultimate in festival
fun, family entertainment and value for the community. The
mission of the Fiesta of Five Flags is to celebrate our heritage, promote tourism and build pride in
Pensacola through festive activities. This festival has been consistently recognized as a Top 20 Event in
the Southeast by the Southeast Tourism Society.
The Great Gulf Coast Arts Festival is recognized as one of the nation’s most outstanding fine
arts and fine craft shows. Hundreds of artists come from all points in the United States and Europe
to display their creations to over 150,000 people during the first weekend of November. The Arts
Festival also features a Children’s Art area, a Student Art Show, entertainment on three different
stages, and Heritage Arts and Crafts.
The Frank Brown International Songwriters Festival, dedicated to the late Frank Brown, is
now in its 25th year.
Navy Federal Pensacola Call Center
Navy Federal Credit Union Call Center broke ground on construction in March of 2003 and opened
for business on November 10th, only eight months after construction began. The Pensacola Call
Center is the credit union's first large operational facility outside of its Vienna, Virginia, headquarters.
The call center currently employs approximately 400 people, including full and part-time call center
account specialists and staff; the credit union anticipated a full-staff of 500 employees by the end of
2005. At present, the call center takes an average of 10,550 incoming member calls and 430 loan
applications per day.
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Education
With more than 45,000 students, the Escambia County School District is one of the 100 largest in the
nation. The county’s school system provides programs ranging from dropout prevention for troubled
youth to accelerated learning for gifted students. Progressive initiatives include magnet schools for
elementary and middle school students, an International Baccalaureate Program emphasizing language and
math, and the Academy for Health Professions offering training in medical fields. The student-teacher ratio
is approximately 24 to 1. About 74 percent of students continue their education after high school. Local
students consistently score above state and national averages on the Scholastic Aptitude Test—an average
of 932 for Escambia versus 882 for the state and 902 for the nation.
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Navy Federal is the world's largest credit union, with more than 2.4 million members and $21 billion in
assets. Headquartered in Vienna, Virginia, Navy Federal operates 105 member service centers and 282
proprietary ATMs worldwide. The credit union serves all Department of the Navy (DON) military and
civilian personnel, contractors who provide service to or work for the DON on a regular basis and their
families.
Transportation
Pensacola Regional (about 3 miles; Pensacola, FL;ID:PNS) The development of the Pensacola Regional
Airport began during the Great Depression. Conner Hagler, owner of the San Carlos Hotel, and Harry
Blanchard, a barnstorming pilot originally from Virginia, bought 504 acres of thick woodland on Skinner’s
Mill Road (12th Avenue) in 1933. The first commercial flight in Pensacola landed on 7 April 1934, with
a 14-passenger tri-motor Stinson of Atlantic and Gulf Coast Airlines. At that time, Pensacola’s airport
began operation consisting of two grass-strip runways and an old hangar which had once belonged to
the Navy. In 1935, the City of Pensacola sponsored a project through the Works Progress Administration
to develop a permanent municipal airport.This project provided jobs for 400 Pensacolians in the midst
of the Depression. November 1938 commenced regular commercial service to the Pensacola Municipal
Airport with National Airlines’ twin-engine Lockheed Electras.
Although civilian air service continued, from 1942 to 1945, the U.S. Navy was granted command of the
airport during World War II. Pensacola was the only municipal airport operating on the coast between
New Orleans and Tallahassee for the few restricted commercial flights available. While under the lease
of the Navy, the airport expanded to 1,200 acres, two new runways were built and the existing runways
were expanded to 5,000 feet by 200 feet. Following the end of the war, control of the airport reverted to
the city.
The 1950s saw the airport gain a stronger sense of permanence with the construction of a new terminal
(12,000 square feet) and control tower. Parts of “The Wings of Eagles,” with John Wayne, Maureen
O’Hara, Dan Dailey and director John Ford, were filmed at the airport in 1956. Technical improvements
highlighted 1957, with runway approach lights and the instrument landing system (ILS).
The increased viability of commercial transport in Pensacola led to significant occurrences in the 1960s.
The FAA reported in October 1963 that the Pensacola area had the densest air traffic in the United
States, which included military, commercial carrier and general aviation activity. The terminal was renovated
in 1964; and in April the airport was identified as the 9th busiest in Florida. Eastern Airlines’ Boeing 727
43
was the first commercial jet ever to land at the airport on August 25, 1965. A new parking lot was
completed in May 1966; and in June the United States Navy donated a Blue Angels F-11 Grumman
Tiger, which now serves as the primary landmark at the airport entrance. On February 27, 1968,
National Airlines inaugurated the first jet service to Pensacola. The service offered direct jet flights to
and from Washington, D.C., and New York with their Boeing 727.
The 1980s and 1990s witnessed a flurry of construction activity that transformed the Pensacola
Municipal Airport into Pensacola Regional Airport. Dramatic changes occurred in nearly every aspect
of the airport. The entrance to the airport was moved from College Boulevard to Airport Boulevard.
The terminal was completely remodeled and completed in 1990. Additional gates, a second floor,
increased baggage capacity and a parking garage with a skywalk to the concourse created a new and
enjoyable experience for passengers. Runways were extended, a new control tower was dedicated
in 1995, and General Aviation operations were moved to the southeast area of the airport property.
This preparation for future traffic is understandable; between 1989 and 1995 traffic at Pensacola
Regional Airport increased 52%. A multilevel garage was opened in September, 1999.
From the early propeller-driven tri-motor aircraft of the 1930s to the jet-powered airliners of the
21st century, the airport has grown with the demand for air travel. Pensacola Regional Airport has
shown throughout its history that the airport has continued and will continue to grow and adapt to
the ever-changing environment of air travel.
Pensacola Regional Airport - Facts & Figures
Operator
Size
Passenger
Terminal
City of Pensacola
1,300 acres
New Two-Story Terminal 137,00 square feet
New Two-Story Concourse, 8 gates, 6 jetways
New Parking Garage with Skyway
Parking Surface Lot A totaling 1,825 available spaces
Lot B totaling 480 available spaces
Commercial
AirTran Airways
2
Airlines
Delta Air Lines
American Eagle
Continental Connection Continental Express
Regional
Delta Connection/Chautauqua
8
Airlines
Delta Connection/ASA
Northwest Airlink/Pinnacle
US Airways Express/PSA
US Airways Express/Mesa
Total Airlines 11 including commercial, regional, and cargo
Total Daily Arrivals and Departures
96
(12/05)
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Continental Express (9%), Delta Air Lines/Delta Connection (54%), Northwest Airlink (8%), US Airways
Express (11%).
The project developer is forecasting hotel van transportation service to and from the airport based on
airport passenger traffic.
Airport Expansion, 2006-2008 Pensacola Regional Airport is the fastest growing airport between
New Orleans and Jacksonville. The airport saw 1.5 million passengers in 2004 and experienced a 40
percent passenger growth since 2001. This increase in passenger traffic through the Florida Panhandle
area has triggered an expansion and improvement project at the Pensacola Regional Airport. Recent
construction involved a 1,000-foot extension and resurfacing to its east/west runway which was
completed in 2008.
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Top Six Passenger Airlines by Market Share FY 2005 AirTran (12%), American Eagle (9%)
The two-year horizon for Pensacola shows a $27-million complete rehabilitation to its north/south
runway. In addition, passenger facility charges will fund a $30-million terminal expansion and improvement
plan with an additional $6 million to fund supplementary development projects. The terminal building
and concourse assignment will consist of a 90-foot ticket counter expansion, an in-line baggage screening
facility, a concourse expansion for 3 additional terminal gates, and 11 new jet bridges.
The additional ticket counter space and concourse add-on will allow for additional airlines to operate
at Pensacola. The baggage screening facility is part of a security advancement in the screening and
transporting of luggage for loading upon aircraft. This modern baggage system will use an Explosive
Detection System (EDS) for increased security and safety.
The investment in all new jet bridges at Pensacola Regional will offer more quality passenger service for all
airlines with lower jet bridge maintenance costs.
For more information about Pensacola Regional Airport and the Panhandle Gulf Coast, log on to the
airport’s new and improved web site at flypensacola.com.
Pensacola Regional Airport U.S. Domestic Traffic by Region:
• 31 percent of PNS’s O&D traffic are traveling to/from the Southeast;
• 10 percent are traveling to/from the South Central States;
• 23 percent to the Northeast and Mid-Atlantic;
• 20 percent are traveling to the Upper Midwest (East North Central) and 11 percent to Far West
regions; and
• Only four percent of PNS’s O&D travel to/from the Rocky Mountain States (West North Central).
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Other public-use airports nearest to Pensacola:
• Hurlburt Field (about 37 miles; Mary Esther, FL; ID: HRT)
• Mobile Downtown (about 61 miles; Mobile, AL; ID: BFM)
• Ferguson (about 10 miles; Pensacola, FL; ID: 82J)
• Coastal (about 14 miles; Pensacola, FL; ID:83J)
• Peter Prince Field (about 21 miles; Milton, FL; ID: 2R4)
Driving Distances to Pensacola
CITY
Ft. Walton Beach
Panama City
Tallahassee
Jacksonville
Orlando
Miami
Tampa
Key West
Atlanta
Biloxi
New Orleans
STATE MILES CITY
FL
39
Dallas
FL
139
Kansas City
FL
196
St. Louis
FL
358
Chicago
FL
453
Detroit
FL
673
Indianapolis
FL
468
Nashville
FL
838
Charlotte
GA
324
Cleveland
MS
119
Washington
LA
201
STATE
TX
MO
MO
IL
MI
IN
TN
NC
OH
DC
MILES
645
972
737
918
979
734
444
568
966
962
Source: Pensacola Bay Area Chamber of Commerce
Calendar of Events
January
Polar Bear Dip (January 1) The Flora-Bama Lounge on the FloridaAlabama state line on Perdido Key hosts this popular, annual splasharound in the Gulf of Mexico. Afterwards, everyone joins in a Southern
tradition of eating black-eyed peas on New Year’s Day and warms up
with good music and beverages.
February
Mardi Gras (Various dates from mid-January to February 21) One of the country’s original
celebration sites, Pensacola hosts family-oriented Mardi Gras fun at numerous parades, where crowds
catch beads and moon pies tossed from floats, as well as various contests and culinary festivals.
Black Histor y Month (Throughout February) Celebrate the evolution of African American
history at several area events including a black history recital and concert at the University of West
Florida with music performed by the UWF Gospel Choir.
March
Galler y Night Enjoy an evening of arts and culture by touring downtown art galleries open late for
this quarterly event, sponsored by the Arts Council of Northwest Florida.Trolley stops along the way
provide free transportation. Free admission.
46
Parkway hosts this two-day event that welcomes the Northwest Florida and South Alabama communities
to the UWF campus. Festivities at this year’s event will include a fine arts show and craft fair, dog agility
showcase, musical performances, sporting events, food vendors, a children’s fair and more. FREE and open
to the public.
April
Pensacola Jazz Fest Pensacola’s historic Seville Square hosts this event filled with great jazz music
performed by local and national talents. Free admission.
market S u mmar y
Festival on the Green The University of West Florida Main Campus located at 11000 University
GRACE Multidenominational Christian music festival held at the Pensacola Fairgrounds features
national, regional, and local independent artists performing contemporary, praise and worship, alternative,
traditional and southern gospel, and rap music. This year, Hispanic artists have been added to the lineup.
Tickets range from $5 to $28 for the two-day event. Group discounts available.
Interstate Mullet Toss The Flora-Bama Lounge on the Florida
Alabama state line hosts this wacky annual tournament that has
participants compete in an actual mullet toss. Live music, food, and
drinks accompany this weekend.
May
Annual Pensacola Crawfish Creole Fiesta Held in Historic
Bartram Park, the Crawfish Creole Fiesta is an annual celebration
of the Cajun influence in the Northwest Florida Community. The
event is one of the largest crawfish boils in state, with authentic
bayou country entertainment and an expanded children and
families’ activities area.
The Florida Springfest This three-day musical celebration draws
national headliner musical groups and thousands of people to
downtown Pensacola.
June
Fiesta Days Celebration and Boat Parade The Annual
Fiesta of Five Flags Celebration starts with a light-hearted
reenactment of the surrender of the city to Spanish explorer Don
Tristan De Luna, who first landed in Pensacola in 1559. Immediately
following is an evening of outdoor musical entertainment. Free
admission.
Bud Light King Mackerel/Cobia Tournament Come see the
best fishermen in the area catch some of the largest King Mackerel
and Cobia in the Gulf. This is the largest two-day boat event in the
Gulf of Mexico with over 1,200 anglers representing 17 states. Total
prize money and gifts awarded top the $100,000 mark annually
and continue to grow.
47
Annual Pensacola International Billfish Tournament The Pensacola Big Game Fishing Club
hosts one of the country's largest billfish tournaments in downtown Pensacola, which attracts around
500 anglers from across the Southeast.
July
Sertoma’s 4th of July Celebration This family oriented, patriotic celebration is the largest 4th of
July Celebration on the Gulf Coast. Free admission. The day-long activities feature a large children's
area with activities beginning at 10 a.m., plus live entertainment, a
patriotic parade, arts and crafts, food vendors, and other activities
culminating in a HUGE fireworks display over Pensacola Bay!
Galler y Night Enjoy an evening of arts and culture by touring
downtown arts galleries open late for this quarterly event
sponsored by the Arts Council of Northwest Florida. Trolley stops
along the way provide free transportation. Free admission.
Pensacola Beach Features the Blue Angels Air Show.
The biggest event of Pensacola’s summer festivities includes the
world-famous Blue Angels. Rehearsal will be held July1st followed
by the main show on July 2nd. Supported by civilian and military
performers, the show is a must-see event. Free admission.
August
Bushwacker Festival Thousands of people come for this annual
event to enjoy the live music and the famous Bushwacker drink!
This year's event will be held on Pensacola beach hosted by Jubilee
& Capt'n Fun's.
September
Pensacola Seafood Festival Sample a variety of mouthwatering seafood dishes, enjoy continuous live entertainment in
Fountain Park, and start your holiday shopping early at more than
185 arts & crafts vendors.
October
Pensacola Interstate Fair The Pensacola Interstate Fair features big-name entertainment
in addition to games, rides, agricultural, and education-oriented exhibits and displays. General
admission: $8 for ages 12 and older, $2 ages 4-11, free for under 4 years. Admission price includes
entertainment. 6655 Mobile Highway.
Redfish Series Championship Top anglers compete in this exciting championship fishing
tournament.
Annual Historic Haunted House Walking Tours A family favorite for Halloween, the narrated
tours are led by costumed guides, visiting over 50 different sites around the Seville and North Hill
historic districts.
48
art and craft exhibitors from around the country, this festival
attracts 150,000 art fans to Pensacola’s historic Seville Square
in Downtown Pensacola. Also features a children’s arts festival
and exceptional food and drink. Consistently ranked in the top
100 fine art and craft shows in the Art Fair Source Book. Free
admission.
Greek Festival One of Pensacola’s largest and most popular
market S u mmar y
November
Great Gulfcoast Arts Festival Hosting more than 200 fine
outdoor events celebrates its 50th anniversary this year.
Traditional Greek dances, gifts, entertainment, and dishes such as
baklava, gyros, and spanakopeta. Greek Orthodox Church of the
Annunciation, 1720 W. Garden St.
Blue Angels Homecoming Air Show, Pensacola Naval Air Station With Pensacola as its home
base, the Navy’s precision flight demonstration team, the Blue Angels, performs its final show of the
season at Naval Air Station Pensacola. Free admission.
The Frank Brown Songwriters' Festival Musicians from all over the world bring magical music to
the Gulf Coast in November. Participating venues range from Pensacola to Magnolia Springs, Ala. Music
of all genres will be performed throughout the festival, which serves as a time for hit writers, aspiring
newcomers, and an audience that appreciates great music to come together.
Galler y Night "Light Up the Night" Jump-start the holiday season with an evening of arts and
culture. Enjoy refreshments and live entertainment while touring downtown art galleries. Sponsored by
the Arts Council of Northwest Florida, trolley stops along the way provide free transportation and there
is no admission fee.
Pensacola Bay International Film & Television Festival Four days of great films, awards, and
celebrity appearances. Submissions include feature films, documentaries, animations, and shorts.
December
Winterfest Trolley Tours Trolleys act as theaters taking
passengers to a series of interactive performances at twentytwo locations along a two-mile route in Historic Downtown
Pensacola. Dozens of local businesses and residents bring to life
favorite scenes from holiday movies, characters, and songs. $10
per person, $8 for seniors and military, $5 for children 12 and
under. Reservations recommended.
Annual Snowball Derby Auto racing fans will delight in the action at Five Flags Speedway. The annual
Snowball Derby has drawn enthusiasts for more than 30 years as the event traditionally brings to a close
the racing season throughout the United States.
49
St. Anne’s Christmas Lights (November 25 - January 1) A family favorite for
years, St. Anne’s magical light display features more than a million lights throughout
its extensive “western town" grounds, entertainment, and great refreshments. Free
admission. Donations accepted for parking. Open nightly 5–10 p.m.
ZOO Lights (Thanksgiving through New Year's) The ZOO in Gulf Breeze hosts this
event with holiday and animal scenes decorated with more than a million lights. Nightly
entertainment rounds out the fun.
Summary
The Pensacola area has a wide
array of activities to suit everyone’s
needs. The beautiful Emerald Coast
beaches and colorful history attract
visitors from across the country.
The vast military presence and
business-friendly environment are
inviting to businesses large and
small.
"Best Places for Business" Pensacola
MSA ranked 76th, surpassing cities
such as Miami, Jacksonville and
Orlando in Forbes magazine's May
23, 2005, issue listing 150 large metro areas as "Best Places for Business."
Money Magazine called it one of "The Best Places to Live". Therefore, it is not
surprising that Pensacola is the 70th-fastest growing metropolitan area in the United
States. Pensacola’s economy traditionally has been based on its natural resources:
water, lumber and agriculture. Today it relies on another natural resource: its people.
Pensacola still boasts the Navy as its number-one employer, but tourism, industry,
health care and education make up the majority of its work force and economy.
What has been most impressive, though, has been Pensacola’s resilience. After
devastating hurricanes— Ivan, Arlene, Cindy, Dennis and Katrina— from 1999 to 2005,
the area continues to expand, attract investors and entice visitors. Not dependent on
one industry or attraction, Pensacola’s diversity of resources has allowed it to prosper
through the storm.
50
ABOU T US
LODGING REALTY SERVICES, LLC
Edward L. Xanders, CHA, GRI, has over 30 years of
hotel management experience, with over 25 years in Real
Estate Brokerage as President/Owner and Broker of Lodging
Realty Services, LLC, which is the Real Estate arm of Interim
Hospitality Consultants.
Interim Hospitality Consultants is pleased to have been listed
in the Top 20 Hotel Consulting Firms in the United States for
2006, 2007 and 2008 by Hotel Motel Management Magazine.
Lodging Realty Services, LLC, was fortunate to be accepted as
a member of Hotel Brokers International in 2004.
Hotel Brokers International produced $453.6
million in 2008 Transaction Revenue; which
made HBI the largest Hotel Brokerage Firm in
the nation for 2008 as reported by Hotel Motel
Management Magazine, April 2009.
Xanders brings 25 years of Real Estate Brokerage experience
to the Hospitality Industry. He has a unique experience in
working with aspiring hotel owners, along with the multi-unit
seasoned hotel owner/developer.
His firm, Interim Hospitality Consultants, founded in 1979,
has performed over 400 Hotel Feasibility Market Analyses
nationwide for every type of hotel development and over 60
franchisors.
Xanders has a Bachelor’s Degree from Michigan State
University School of Hospitality Administration. He has been
designated a Certified Hotel Administrator and a Graduate of
the Real Estate Institute.
52
Bernardette “Bunny” Nocera, Realtor, joined Lodging Realty Services
ABOUT US
in 2005 with over 20 years of hotel sales, marketing and public relations
experience. She has worked at a selection of resorts in the State of
Florida, including South Seas Plantation on Captiva Island, The Registry
Resort in Naples and the Renaissance Vinoy Resort in St. Petersburg.
Bunny received her degree in Public Relations/Marketing from the
University of Florida.
In her career she has been involved in many aspects of hotel marketing
and management, including sales plans and sales programs; purchase,
placement and budgeting of consumer and trade advertising; all aspects
of public relations; international and domestic marketing; development
of hotel/resort printed materials; national media relations and special
promotions.
Bunny has been a Realtor since 2004 and a member of the Tallahassee
Board of Realtors, Women’s Council of Realtors, Florida Association
of Realtors, and the National Association of Realtors. Her Real Estate
License is placed with Lodging Realty Services, LLC, Tallahassee, Florida.
Bunny is a member of Hotel Brokers International, which provides Hotel
Real Estate Services nationwide.
Bunny may be reached at 850-933-5328 or [email protected].
53
Lodging Realty Services Properties-Selected List
r
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fo
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Wingate by Wyndham
Offered at $5,200,000
Future Hotel Site
516 Springhill Plaza Court,
Mobile, Alabama 36608
West of Quincy, Florida
Intersection of I-10 & Florida Rt. 12
5 Acres
le
a
s
Howard Johnson
54
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f
le
a
s
D
SOL
La Quinta Inn & Suites
1800 Clubhouse Drive, Valdosta, GA 31601
Interim Hospitality Consultants Offers a Wide Array of Hospitality Services for Your Firm.
1.
2.
3.
4.
5.
6.
MANAGEMENT ASSISTANCE
Hotel Operations: General Manager of any size property/development at any location.
Quality Assurance Programs: Independent evaluation.
Yield Management: Maximize room revenues from an hourly to a seasonal basis.
Front Office/Reservation Systems Training: From the first customer greeting to night audit operations.
Marketing Studies: Formal studies to expose primary and secondary markets; personnel training.
Human Resource Programs: Position description, employee guides, wage and benefit reviews, task training.
OWNERSHIP ASSISTANCE
1. Financial Operations Analysis by department to maximize profits.
2. Operations Manuals Consolidation of your policies and procedures in compliance with state/federal laws
and franchisee requirements.
3. Litigation Support with expert witness testimony.
4. Anonymous Audits of service and management standards.
5. Lodging Realty Services through Lodging Realty Services, LLC.
6. Appraisal Services through members of the Appraisal Institute of America.
7. Mortgage Brokerage Services for real estate financing.
DEVELOPMENT ASSISTANCE
Feasibility Studies: Authored over 400 franchisor and lender approved studies.
Impact Studies to determine from a third-party standpoint the effect of new hotel development.
Architectural Reviews from a Hotel Operations perspective to eliminate errors and increase productivity.
Remodeling Coordination from project review to oversight management, including design, purchasing and
installation.
5. Construction Coordination: Coordinating the efforts of the architect, general contractor, franchisee and
ownership from a daily or project review perspective.
6. Pre-Opening Management Functions Includes permits/licensing, FF&E installation, punch lists, staffing,
training and marketing.
1.
2.
3.
4.
Edward L. Xanders, CHA, President, Broker
Bunny Nocera, Senior Research Analyst, Realtor
Kim Pedersen, Senior Research Analyst
American Hotel Lodging Association
Extended-Stay Hotel Council, AHLA
International Association of Hospitality Advisors
National Association of Black Hotel Owners, Operators and Developers
Asian American Hotel Owners Association, authored articles for AAHOA publications
National Association of Condo Hotel Owners
Hispanic Hotel Owners Association
Superior Small Lodging of America
Florida Bed and Breakfast Association
Hotel Brokers Internatinoal
Feasibility Study
New York (Queens), NY
Site Review
Tallahassee, FL
Feasibility Study
Vernal, UT
Feasibility Study
• Manitowish Waters, WI
Feasibility Studies
Greenville, MI
Edgemont, SD
Site Review
Ft. Myers, FL
Feasibility Study
Slidell, LA
Site Review
Shreveport (Greenwood), LA
Site Reviews
Fort Myers, FL
Gainesville, FL
Orlando, FL
Feasibility Studies
Luverne, AL
Auburndale, FL
Okeechobee, FL
Atlanta (Marietta), GA
Jackson, GA
Chicago (Calumet Park), IL
Chama, NM
Mount Morris, NY
Market Analysis
Villa Ridge, MO
Rockaway, NJ
Management Contract
Erie, PA
Feasibility Studies
Ft. Lauderdale (Lauderhill), FL
Vero Beach, FL
Raleigh, NC
New York (Washington Hgts), NY
Las Vegas, NV
Bluffton, SC
Dallas, TX
Feasibility Studies
Ft. Lauderdale (Lauderhill), FL
Vero Beach, FL
Raleigh, NC
New York (Washington Hgts), NY
Las Vegas, NV
Bluffton, SC
Dallas, TX
Feasibility Studies
Atlanta (Airport), GA
Atlanta (Marietta), GA
Brandon, FL
Niceville, FL
Tallahassee, FL
Grand Rapids, MI
Anderson, SC
Pre-Opening Contract
Tallahassee, FL
Feasibility Study
Atlanta (East Point), GA
Quality Assurance Reveiw
Cedar Rapids, IA
Feasibility Study
Eutaw, AL
Winfield, AL
Cairo, GA
Hastings, MI
Leland, MS
Raleigh, NC
Market Research Study
Fern Park, FL
Cairo, GA
Hotel Operations Mgt Contract
Cairo, GA
Feasibility Study
Crawfordville, FL
Eastpoint, FL
North Miami Beach, FL
Washington Heights, NY
Bluffton, SC
Suffolk, VA
Naples, FL
St. Louis (Airport), MO
Site Review
Nashville (Goodlettsville), TN
Architectural Review
Nashville, TN
Litigation Support
Decatur, AL
Asset Management Contract
Suffolk, VA
Feasibility Study
• Memphis, TN
Feasibility Study
Birmingham (Pelham), AL
Cape Coral, FL
Crestview, FL
Davie, FL
DeLand, FL
Ft. Myers, FL
Plant City, FL
Lady Lake, FL
Yulee, FL
Jasper, GA
Washington, GA
Boston (Taunton), MA
Boston (Raynham), MA
Grand Haven, MI
Greenville, MS
Jackson, MS
Natchez, MS
Charlotte, NC
Greensboro, NC - (2)
Kannapolis, NC
Magnolia, NC
Rocky Mount, NC
Rose Hill, NC
Troutman, NC
Cortland, NY
Sandusky, OH
Mansfield, PA
Marinette, WI
Site Review
Tampa, FL
West Palm Beach, FL
Greenville, NC
Nashville, NC
Virginia Beach, VA
Market Update
Pensacola, FL
Ft. Myers, FL
Feasibility Study
Jacksonville, NC
Market Analysis
Fort Myers, FL
Feasibility Study
Rochester, NY
Memphis (Collierville), TN
Site Analysis
Tallahassee, FL
Feasibility Studies
Quincy, FL
Bainbridge, GA
Kenner, LA
New Orleans, LA
Allendale, SC
Site Review
Gainesville, FL
Quality Assurance Review
Minneapolis, MN
Anonymous Audit
Minneapolis, MN
Baltimore (Glen Burnie), MD
Broker’s Opinion of Value
Evergreen, AL
Feasibility Study
South Amboy, NJ
Feasibility Study
Quincy, FL
Proforma
Doswell, VA
Feasibility Study
Norfolk, VA
Feasibility Study
Jackson, MS
Feasibility Study
• San Luis Potosi, Mexico
Site Analysis
• Aguascalientes, Mexico
• Léon, Mexico
• Querétaro, Mexico
Feasibility Study
Birmingham, AL
Thomasville, GA
Feasibility Studies
Huntsville, AL
Little Rock, AR
Dade City, FL
Ft. Myers, FL (2)
Lake Wales, FL
Quincy, FL
Palatka, FL
St. Petersburg, FL
Knightdale, NC
Rocky Mount, NC
Geneseo, NY
Plattsburgh, NY
Smithfield, VA
Boca Raton, FL
Boynton Beach, FL
Palm Beach Gardens, FL
Economic Impact Study
Dade City, FL
Feasibility Studies
Birmingham, AL
Daphne, al
Montgomery, AL
Fort Myers, FL
Melbourne, FL
Miami (Coconut Grove), FL
Ocala, FL
Palm Bay, FL
Tallahassee, FL
Atlanta (Airport), GA
Atlanta (College Park), GA
Atlanta (Flowery Branch), GA
Atlanta (Roswell), GA
Dalton, GA
Hartwell, GA
Warm Springs, GA
Bowling Green, KY
New Orleans, LA
Raleigh (Airport), NC
Middletown, NY
Site Review
Gulf Shores, AL
Auburn, AL
Boca Raton, FL
Bonita Springs, FL
Destin, FL
Fort Myers, FL
Miami (North), FL
Naples, FL
Orlando, FL
Panama City, FL
Tallahassee, FL
Tampa (Airport), FL
West Palm Beach (Airport), FL
W. Palm Beach (Gardens Mall), FL
Blaine, MN
Hilton Head, SC
Tallahassee, FL
Market Research Studies
Atlanta (Alpharetta), GA
Richmond Hills, GA
Feasibility Study
New Orleans, LA
Feasibility Study
Coral Springs, FL
Millville, NJ (Extended-Stay)
Hotel Mgt Operations Contract*
Tallahassee, FL
Quality Assurance Review*
Augusta, GA
Remodeling Administration*
Macon, GA
Human Resources*
Macon, GA
Market Analysis
Memphis, TN
*Engagements with
Management Resources, Inc.
Feasibility Studies
Crestview, FL
Miami (Miramar), FL
Naples, FL
Grambling, LA
Durham, NC
Gettysburg, PA
Feasibility Studies
Ocala, FL
Williamsburg, IA
Jackson (Pearl), MS
Fayetteville, NC
Portsmouth, VA
Statesboro, GA
Orlando (Florida Mall), FL
Operations Review
Louisville, KY
Feasibility Studies
Luverne, AL
Mims, AL
Crossett, AR
Riverside, CA
Victorville, CA
Crawfordville, FL
Ft. Myers, FL
Marianna, FL
Perry, FL
Quincy, FL
Atlanta (College Park), GA
Bainbridge, GA
East Point, GA
Mahwah, NJ
Binghamton, NY
Bryan, OH
Cincinnati (Mason), OH
Wheeling, WV
Site Review
Eufaula, AL
Tallahassee, FL
Russellville, AL
Grand Rapids, MI
Hotel Operations Analysis
Marianna, FL
Bainbridge, GA
Human Resources
Grand Rapids, MI
Feasibility Study
• Millville, NJ
Feasibility Studies
Crestview, FL
Tallahassee, FL
Athens, GA
Greenville, NC
Mason (Cincinnati), OH
Harrisburg, PA
Norfolk, VA
Green Bay (De Pere), WI
Site Review
Windsor, Ontario, Canada
Management Contract
Grand Rapids, MI
Feasibility Studies
Mobile, AL
Montgomery, AL
North Miami Beach, FL
Augusta, GA
Lexington, KY
Bluffton, SC
Feasibility Study
• Stuart, FL
• New Orleans, LA
Feasibility Study
• Greensboro, NC
Feasibility Study
Columbiana, AL
St. James Island, FL
Feasibility Studies
Daphne, AL
Pensacola, FL
Southaven, MS
Lincoln, NE
Site Reviews
Orange Beach, AL
Pensacola, FL
Columbia, LA
Real Estate Brokerage
Valdosta, GA
Feasibility Studies
Coral Springs, FL
Middletown, NY
New York (Long Island City), NY
New York (Manhattan), NY
Palmyra, VA
Feasibility Studies
Montgomery, AL
Ocala, FL
Pinellas Park, FL
Port St. Joe, FL
Tallahassee, FL
Springfield, MA
Meridian, MS
Newark, NJ
Mayfield, NY
Richmond, VA
Litigation Support
Atlanta, GA
Feasibility Studies
Birmingham, AL
Daphne, AL (2)
Decatur, AL
Mobile, AL
Talledega, AL
Brooksville, FL
Bushnell, FL
Carrabelle, FL
Eastpoint, FL
Jacksonville (Yulee), FL
Lake Wales, FL
Marianna, FL
Ocala, FL
Brunswick, GA
Hammond, LA
New Orleans, LA
Shreveport, LA
Thibodaux, LA
Detroit (Lincoln Park), MI
Leland, MS
Meridian, MS
Salamanca, NY
Toledo, OH
Mansfield, PA
Mount Pleasant, SC
Summerville, SC
Pasadena, TX
Williamsburg, VA
Site Reviews
Ft. Myers, FL
West Palm Beach (I-95), FL
Savannah, GA
New Orleans (Gretna), LA
New Orleans (Mandeville), LA
Wyoming, MN
Beaufort, SC
Pulaski, TN
San Antonio, TX
Feasibility Study
Tallahassee, FL
Feasibility Study
Vicksburg, MS
Market Update
Vicksburg, MS
Tallahassee, FL
Hotel Franchise Conversion
Louisville, KY
Feasibility Studies
Tallahassee, FL
Kansas City (Gladstone), MO
Tunica, MS
Memphis, TN
Nashville, TN
Human Resources
Gainesville, FL
Feasibility Study
Silver Spring, MD
Site Review
Savannah, GA
Feasibility Studies
Indianapolis, IN
Lancaster, PA
Operations Review
Cincinnati, OH
Feasibility Study
Morrilton, AR
Thomasville, GA
Feasibility Studies
Headland, AL
Jacksonville, FL
Port St. Joe, FL
Shreveport, LA
Columbia, SC
Houston (Stafford), TX
Site Review
Quincy, FL
Elkhart, IN
Nashville, TN
Hotel Development Conversion
Wheeling, WV
Market Analysis
Richmond, VA
Feasibility Studies
Dothan, AL
Tallahassee, FL
Memphis (Collierville), TN
Wheeling, WV
Site Review
Orlando (I-Drive), FL
Tallahassee, FL
Asset Management Contract
Tallahassee, FL
Feasibility Studies
Ocala, FL
Perry, FL
Tallahassee, FL
Meridian, MS
Pre-Opening
Tallahassee, FL
Operations Contract
Tallahassee, FL
Feasibility Study
Norfolk, VA
Site Review
Tallahassee, FL
Market Analysis
Gulfport, MS
Atlanta (Six Flags), GA
Market Research
Pensacola, FL
Feasibility Study
Macon, GA
Clarksville, TN
Altamonte Springs, FL
Site Reveiw
Ramsey, NJ
Feasibility Study
Macon, GA
Clarksville, TN
Altamonte Springs, FL
INDEPENDENT LODGING
Feasibility Study
Sarasota, FL
Oxford, MS
Feasibility Study
Indianapolis, IN
CONDOMINIUM HOTELS
Feasibility Study
Ft. Morgan, AL
Gulf Shores, AL
Coral Springs, FL
Miami, FL
Sarasota, FL,
Palmyra, VA,
The Sanctuary at Fort Morgan
Zydeco Hotel and Spa
Golf Resort
Ocean 4
Condo Hotel and Theatre
Rivanna Resort
Candlewood Suites, Tallahassee, FL: Asset
Management and Pre-Opening Management of
the development of a 113-room extended-stay
hotel. Scheduled to open in 2010.
Comfort Suites, Suffolk, VA: Asset Management
in assisting the ownership (Temple Beth-El) in final
negotiation of franchise and management company
contracts. Opened in 2008.
Lodging Management Services assisted in the development of a
Staybridge Suites in Tallahassee, FL, a Wingate Inn in Lynn
Haven, FL, and a Suburban Extended Stay Hotel in Tallahassee,
FL.
LISTINGS
Feasibility Studies
Tallahassee, FL
Hamilton Inn
Port St. Joe, FL
Port Inn
Oxford, MS
Ava Hotel and Spa
Saratoga Sprngs, NY
Roosevelt Inn & Suites
Site Reviews
Tallahassee, FL
Hamilton Inn
Bluffton, SC
Hamilton Inn
Columbia, SC
Eagles Nest Resort
Hotel Operations Management Contracts
Daytona Beach, FL
Desert Isle Inn
Daytona Beach, FL
Maple Leaf Condo Hotel
Columbia, SC
Eagles Nest Resort
N. Myrtle Beach, SC
North Shore Inn & Suites
Hotel Operations Analysis
Panama City Bch, FL
Pineapple Beach Resort
Copper Harbor, MI
Keweenaw Mountain Lodge
Villa Ridge, MO
Diamond Inn
Springdale, UT
Desert Pearl Inn
Norfolk, VA
Tides Inn
Quality Assurance Reviews
Fort Worth, TX
Park Central Inn
Richland, WA
DOE User Housing Facility
Black River Falls, WI
Majestic Pines Casino
Management Recruitment
Port St. Joe, FL
Port Inn
Endicott, NY
Independent Living
Anonymous Audit
Port St. Joe, FL
Port Inn
Chattanooga, TN
Hamilton Inn
Sales & Marketing Contract
Tallahassee, FL
Southgate Campus Center
INDUSTRY PARTICIPATION
AHLA, Ex-Stay Council
AAHOA Conference
ALIS Conference
Atl Hotel Investment Conf.
Best Western Hotel Conf.
Choice Hotels Int’l Conf
Condo Hotel Conference
Orlando & Las Vegas
FBBI Conference
HBI Conference
HHOA Conf, Miami & Dallas
InterContinental Hotel Conf.
Midwest Hotel Lodging Conf.
NABHOOD Conference
Superior Small Lodging Conf.
Vantage Hotel Conference
Attend
8
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Interviewed on CNBC Cable News
Daphne, AL
Mobile, AL
Pensacola, FL
Pilot Lodge
5.6±-acre Hotel Site
Daytona Beach, FL
Quincy, FL
Pensacola, FL
SOLD
Valdosta, GA
Pensacola, FL
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ABOUT US
ABOUT US
For over five decades, dedicated brokers
at Hotel Brokers International have built
lasting relationships with real estate
investors and sellers. By committing time
to nurturing these relationships and
delivering results, HBI brokers annually
close more hotel sales transactions than
any other organization.
HBI
ISN’T IT TIME TO PUT
Since its founding in 1959, HBI
brokers have successfully
transacted the sales of
thousands of airport, resort,
highway, urban and suburban
properties. From economy
motels to mid-market and
luxury hotels, HBI brokers
represent an array of
hospitality properties coast to
coast and beyond.
No other organization
offers more hotel real
estate resources.
No other organization
sells more hotels.
TO WORK FOR YOU?
When You Choose
an HBI Broker, You Choose
• A broker who specializes in hotel real estate.
• A cooperative network of more than 30 hotel
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referrals and offering localized expertise.
• hbihotels.com, providing global listing exposure and
access to an extensive property inventory anytime,
anywhere.
• An experienced broker, who understands the
industry, knows the local market and can guide you
safely through each transaction.
Let HBI’s international network of brokers
and years of trusted industry knowledge serve
you. Learn more about the many ways HBI
can help you achieve your hospitality
investment goals, contact your HBI Broker
today.
hbihotels.com
1420 NW Vivion Road, Suite 111, Kansas City, MO 64118 USA
[email protected] +1.816.505.4315 fax +1.816.505.4319
• A member of the most established, respected
organization of its kind.
• HBI’s exclusive networking events, such as Hotel
Investor’s Marketplace.
• A knowledgeable broker committed to providing the
highest level of professional service and guidance.
• HBI’s cutting-edge real estate tools designed to take
the hassle out of buying and selling.
Global Contacts
Contacts,,
Local Expertise
Riviera Maya, Mexico
MBA Hotel Brokers
Service Type: Limited-Service
Market Segmentu: Mid-Market
Sally Hurley [ P:410.489.5900 ]
$2,950,000 Fee Interest
160 Rooms - , Alabama
MBA Hotel Brokers
Suresh I. Patel [ P:410.489.5900 ]
Tamarindo, Costa Rica
MBA Hotel Brokers
Market Segmentu: Upscale-Luxury
Sally Hurley [ P:410.489.5900 ]
79 Rooms - Forrest City, Arkansas
Merrell Associates, Inc.
Service Type: Full-Service
C. Kem Merrell [ P:870.633.2211 ]
84 Rooms - Helena, Arkansas
51 Rooms - Hardy, Arkansas
Market Segmentu: Economy
C. Kem Merrell [ P:870.633.2211 ]
$1,475,000 Leasehold
104 Rooms - San Luis Obispo, California
ProCom Lodging Brokers, Inc.
Fred Ferrarini [ P:805.238.7990 ]
Steven Ferrarini [ P:805.238.7990 ]
$0 Fee Interest
C. Kem Merrell [ P:870.633.2211 ]
98 Rooms - Morro Bay, California
ProCom Lodging Brokers, Inc.
Fred Ferrarini [ P:805.238.7990 ]
Steven Ferrarini [ P:805.238.7990 ]
$0 Fee Interest
16 Rooms - Caye Caulker, Belize
MBA Hotel Brokers
Charles H. Fritsch [ P:410.489.5900 ]
197 Rooms - Fayetteville, Arkansas
Brock Hotel Group
Alan D. Brock [ P:817.410.5731 ]
Darin C. Brock [ P:817.410.5731 ]
17 Rooms - Coastal City, California
Lodging Property Brokers Inc.
Dick Lopez [ P:707.257.2759 ]
174 Rooms - Enfield, Connecticut
Optimum Hotel Brokerage LLC
Joseph R. McCann [ P:215.572.7711 ]
Dothan, Alabama
Hunter Realty Associates, Inc.
T. Teague Hunter [ P:770.916.0300 ]
38 Rooms - Eureka Springs, Arkansas
Market Segmentu: Budget
C. Kem Merrell [ P:870.633.2211 ]
$575,000 Fee Interest
25 Rooms - Weaverville, California
Dick Lopez [ P:707.257.2759 ]
128 Rooms - Shelton, Connecticut
Kyle S. Stevenson [ P:703-888-6578 ]
$11,500,000
104 Rooms - Manchester, Connecticut
4
6 Rooms - Washington, DC
71 Rooms - Ormond Beach, Florida
200 Rooms - Tallahassee, Florida
SOLD
Service Type: Extended-Stay, All Suite
Donohoe Real Estate Services
Market Segmentu:
William W. Moyer [ P:202.625.4153 ]
Charlotte Seale [ P:202.625.4156 ]
108 Rooms - Orlando, Florida
MBA Hotel Brokers
Service Type: All Suite
Market Segmentu:
Suresh I. Patel [ P:410.489.5900 ]
96 Rooms - Tampa Bay, Florida
70 Rooms - Florida
Greene, Canfield, DeGeorge, Ltd.
124 Rooms - Central Florida
6 Rooms - Quincy, Florida
Greene, Canfield, DeGeorge, Ltd. [ P:727.447.8383 ]
13 Rooms - Daytona Beach, Florida
Lodging Realty Services, LLC
Service Type:
Market Segmentu:
Edward L. Xanders [ P:850.893.6010 ]
Bunny Nocera [ P:850.893.6010 ]
$600,000
126 Rooms - Brunswick, Georgia
$3,500,000
117 Rooms - Augusta , Georgia
Service Type:
Market Segmentu:
Bunny Nocera [ P:850.893.6010 ]
$800,000
110 Rooms - Tucker, Georgia
Service Type: Limited-Service, All Suite
Lee Hunter [ P:770.916.0300 ]
Quincy, Florida
Service Type:
Market Segmentu:
Bunny Nocera [ P:850.893.6010 ]
$2,600,000
105 Rooms - Gainesville, Florida
Lee Hunter [ P:770.916.0300 ]
80 Rooms - North Buckhead, Georgia
103 Rooms - Southern Illinois
MBA Hotel Brokers
Suresh I. Patel [ P:410.489.5900 ]
59 Rooms - Major Market Iowa
MBA Hotel Brokers-Iowa
Tim Duffy [ P:641.472.7475 ]
42 Rooms - near Kansas City, Kansas
Hiren Bhakta [ P:641.472.7475 ]
136 Rooms - Baltimore, Maryland
MBA Hotel Brokers
Service Type:
John Downes [ P:410.489.5900 ]
112 Rooms - Rockford, Illinois
CRES Hotel Brokers
David J. Donley [ P:573.651.4653 ]
$3,250,000
35 Rooms - SALE PENDING Iowa
Tim Duffy [ P:641.472.7475 ]
46 Rooms - Frankfort, Kentucky
Huff, Niehaus & Associates, Inc.
H. Brandt Niehaus [ P:502.254.7787 ]
$895,000 Leasehold
105 Rooms - Aberdeen, Maryland
MBA Hotel Brokers
John Downes [ P:410.489.5900 ]
101 Rooms - New Castle, Indiana
Property w/ Highway Access - Iowa
Service Type:
Tim Duffy [ P:641.472.7475 ]
132 Rooms - Erlanger, Kentucky
MBA Hotel Brokers
John Downes [ P:410.489.5900 ]
54 Rooms - Small Town Iowa
Tim Duffy [ P:641.472.7475 ]
67 Rooms - Kansas City, Kansas
Service Type: Full-Service, All Suite
Hiren Bhakta [ P:641.472.7475 ]
51 Rooms - Brendenburg, Kentucky
MBA Hotel Brokers
Suresh I. Patel [ P:410.489.5900 ]
Service Type: All Suite
Charlotte Seale [ P:202.625.4156 ]
103 Rooms - Amherst (Buffalo), New York
Buffalo Hotel Realty, LLC
Larry E. Best [ P:716.854.4000 ]
Paul Harrison [ P:212.842.1396 ]
32 Rooms - Hancock, New York
Larry E. Best [ P:716.854.4000 ]
80 Rooms - Upstate New York
64 Rooms - Sandusky, Ohio
Laurel Real Estate Company
Errol D'Souza [ P:614.865.9445 ]
368 Rooms - Catskills, New York
Larry E. Best [ P:716.854.4000 ]
Paul Harrison [ P:212.842.1396 ]
134 Rooms - Syracuse, New York
$5,500,000 Leasehold
111 Rooms - Confidential, North Dakota
Westgor & Associates, Inc.
Jeff Westgor [ P:952.835.9575 x77 ]
88 Rooms - Xenia, Ohio
Errol D'Souza [ P:614.865.9445 ]
$2,975,000
18 Rooms - Potsdam, New York
MBA Hotel Brokers
Suresh I. Patel [ P:410.489.5900 ]
61 Rooms - Hyde Park, New York
65 Rooms - Brunswick, Ohio
Errol D'Souza [ P:614.865.9445 ]
42 Rooms - Huron, Ohio
Errol D'Souza [ P:614.865.9445 ]
$1,450,000
23 Rooms - Fredonia, New York
Larry E. Best [ P:716.854.4000 ]
47 Rooms - Syracuse, New York
Larry E. Best [ P:716.854.4000 ]
90 Rooms - Sharonville, Ohio
45 Rooms - Norwalk, Ohio
Errol D'Souza [ P:614.865.9445 ]
$975,000
32 Rooms - Sandusky, Ohio
55 Rooms - North Ridgeville, Ohio
52 Rooms - Southern, Ohio
47 Rooms - Seaside, Oregon
SOLD
Errol D'Souza [ P:614.865.9445 ]
$1,100,000
75 Rooms - Bend, Oregon
Western Hotel Brokers, Inc.
Lee Vasche [ P:541.745.7707 ]
141 Rooms - West Chester, Pennsylvania
Hunter Capital Advisors
45 Rooms - Beaver Falls, Pennsylvania
Larry E. Best [ P:716.854.4000 ]
Errol D'Souza [ P:614.865.9445 ]
Market Segmentu:
Errol D'Souza [ P:614.865.9445 ]
50 Rooms - Barkeyville, Pennsylvania
MBA Hotel Brokers
Elisa Fritsch [ P:410.489.5900 X13 ]
50 Rooms - Gettysburg, Pennsylvania
10 Rooms - Perkiomenville, Pennsylvania
Market Segmentu:
Robert Flake [ P:541.745.7707 ]
142 Rooms - Pennsylvania
MBA Hotel Brokers
Elisa Fritsch [ P:410.489.5900 X13 ]
Elias DePaula [ P:410.489.5900 x16 ]
105 Rooms - Edinboro, Pennsylvania
116 Rooms - Breezewood, Pennsylvania
MBA Hotel Brokers
John Downes [ P:410.489.5900 ]
65 Rooms - Pennsylvania
MBA Hotel Brokers
Elisa Fritsch [ P:410.489.5900 X13 ]
138 Rooms - Lake Harmony, Pennsylvania
58 Rooms - Western Pennsylvania
MBA Hotel Brokers
ALABAMA
Western Hotel Brokers Inc.
5994 N. W. Rosewood Drive
Corvallis, OR 97330 USA
+1.541.745.7707 Fax +1.541.745.7743
Email [email protected]
www.motelbrokers.com
Hunter Realty Associates Inc.
300 Galleria Parkway, Suite 620
Atlanta, GA 30339 USA
+1.770.916.0300 Fax +1.770.916.0301
www.hunterhotels.net
COLORADO
GEORGIA
ARIZONA
Brock Hotel Group
1452 Hughes Road, Suite 200
Grapevine, TX 76051 USA
+1.817.410.5731 Fax +1.817.410.5757
www.brockhotelgroup.com
IDAHO
ARKANSAS
ScogginBlue LLC
P.O. Box 334
Las Cruces, NM 88004-0334 USA
+1.575.523.7421 Fax +1.575.524.3699
www.scogginblue.com
Huff Niehaus & Associates Inc.
13121 Eastpoint Park Blvd., Suite B
Louisville, KY 40223 USA
+1.502.254.7787 Fax +1.502.254.5270
www.huffniehaus.com
+1.770.916.0300 Fax +1.770.916.0301
Topher Real Estate Services.
1582 E. Cheery Lynn Road
Phoenix, AZ 85014 USA
+1.602.485.4849 Fax +1.602.485.4847
110 N Washington; P.O. Drawer 626
Forrest City, AR 72336-0626 USA
+1.870.633.2211 Fax +1.870.633.2224
Brock Hotel Group
+1.817.410.5731 Fax +1.817.410.5757
Brash Realty Co. Inc.
Two Northbrook Place, Suite 575
60 Revere Drive
Northbrook, IL 60062 USA
+1.847.205.5600 Fax +1.847.205.5628
www.brashrealty.com
CALIFORNIA
603 Cabot Way
Napa, CA 94559 USA
+1.707.257.2759 Fax +1.707.257.2155
www.lodgingbrokers.com
ProCom Lodging Brokers Inc.
3520 Creston Drive; P.O. Box 218
Paso Robles, CA 93447-0218 USA
+1.805.238.7990 Fax +1.805.239.3359
www.procomlodging.com
Hoover Lodging Realty Inc.
4225 E. Mexico Avenue, Suite 108
Denver, CO 80222 USA
+1.303.504.9292 Fax +1.303.504.9229
www.hoover-lodging.com
CONNECTICUT
Optimum Hotel Brokerage, LLC
23 Breyer Court
Elkins Park, PA 19027 USA
+1.215.572.7711 Fax +1.215.572.7570
www.optimumbrokerage.com
DISTRICT OF COLUMBIA
2101 Wisconsin Avenue, NW
Washington, DC 20007 USA
+1.202.333.0880 Fax +1.202.337.9740
www.donohoerealestate.com
FLORIDA
+1.770.916.0300 Fax +1.770.916.0301
+1.541.745.7707 Fax +1.541.745.7743
ILLINOIS
60 Revere Drive, Suite 575
+1.847.205.5600 Fax +1.847.205.5628
www.brashrealty.com
CRES Hotel Brokers
125 S. Broadview, Suite 7
Cape Girardeau, MO 63703 USA
+1.573.651.4653 Fax +1.573.339.1606
www.creshotelbrokers.com
INDIANA
+1.847.205.5600 Fax +1.847.205.5628
www.brashrealty.com
Greene Canfield DeGeorge Ltd.
2074 Weaver Park Drive
Clearwater, FL 33765 USA
+1.727.447.8383 Fax +1.727.447.6533
www.gcdhotels.com
+1.502.254.7787 Fax +1.502.254.5270
www.huffniehaus.com
Lodging Realty Services
4145 Yardley Circle
Tallahassee, FL 32309 USA
+1.850.893.6010 Fax +1.850.893.8345
www.interimhospitality.com
IOWA
MBA Hotel Brokers
2394 Meadow Drive
Fairfield, IA 52556 USA
+1.641.472.7475 Fax +1.888.333.7863
www.mbahotels.com
Westgor & Associates Inc.
7400 Metro Boulevard, Suite 210
Minneapolis, MN 55439-2326 USA
+1.952.835.9575 Fax +1.952.835.9842
www.westgor.com
KANSAS
Brock Hotel Group
+1.817.410.5731 Fax +1.817.410.5757
KENTUCKY
+1.502.254.7787 Fax +1.502.254.5270
www.huffniehaus.com
+1.847.205.5600 Fax +1.847.205.5628
www.brashrealty.com
MARYLAND
MBA Hotel Brokers
2902 Route 97
Glenwood, MD 21738 USA
+1.410.489.5900 Fax +1.410.489.5515
www.mbahotels.com
+1.202.333.0880 Fax +1.202.337.9740
4833 Rugby Avenue, Suite 100
Bethesda, MD 20814 USA
+1.301.215.7507 Fax +1.240.238.9868
MASSACHUSETTS
23 Breyer Court
+1.215.572.7711 Fax +1.215.572.7570
MICHIGAN
NEW YORK
MINNESOTA
Optimum Hotel Brokerage
23 Breyer Court
+1.215.572.7711 Fax +1.215.572.7570
Everest Hotel Brokers LLC
P.O. Box 2845
Farmington Hills, MI 48333-2845 USA
+1.248.488.2018 Fax +1.248.488.2019
www.everesthotelbrokers.com
+1.952.835.9575 Fax +1.952.835.9842
www.westgor.com
MISSISSIPPI
+1.770.916.0300 Fax +1.770.916.0301
MISSOURI
CRES Hotel Brokers
125 S. Broadview, Suite 7
Cape Girardeau, MO 63703 USA
+1.573.651.4653 Fax +1.573.339.1606
www.creshotelbrokers.com
MONTANA
+1.541.745.7707 Fax +1.541.745.7743
NEBRASKA
Hoover Lodging Realty Inc.
4225 E. Mexico Avenue, Suite 108
Denver, CO 80222 USA
+1.303.504.9292 Fax +1.303.504.9229
www.hoover-lodging.com
NEW MEXICO
Scoggin Blue LLC
P.O. Box 334
Las Cruces, NM 88004-0334 USA
+1.575.523.7421 Fax +1.575.524.3699
www.scogginblue.com
8750 Main Street
Williamsville, NY 14221 USA
+1.716.854.4000 Fax +1.866.403.6478
www.hotel-realty.com
MBA Hotel Brokers
2902 Route 97
+1.410.489.5900 Fax +1.410.489.5515
www.mbahotels.com
NORTH CAROLINA
+1.770.916.0300 Fax +1.770.916.0301
NORTH DAKOTA
+1.952.835.9575 Fax +1.952.835.9842
www.westgor.com
OHIO
P.O. Box 284
Galena, OH 43021 USA
+1.614.865.9445 Fax +1.614.865.9446
www.laurelhotelbrokers.com
+1.502.254.7787 Fax +1.502.254.5270
www.huffniehaus.com
OKLAHOMA
Brock Hotel Group
+1.817.410.5731 Fax +1.817.410.5757
OREGON
+1.541.745.7707 Fax +1.541.745.7743
PENNSYLVANIA
23 Breyer Court
+1.215.572.7711 Fax +1.215.572.7570
+1.202.333.0880 Fax +1.202.337.9740
MBA Hotel Brokers
2902 Route 97
+1.410.489.5900 Fax +1.410.489.5515
www.mbahotels.com
SOUTH CAROLINA
+1.770.916.0300 Fax +1.770.916.0301
SOUTH DAKOTA
+1.952.835.9575 Fax +1.952.835.9842
www.westgor.com
TENNESSEE
+1.502.254.7787 Fax +1.502.254.5270
www.huffniehaus.com
+1.770.916.0300 Fax +1.770.916.0301
110 N Washington; P.O. Drawer 626
Forrest City, AR 72336-0626 USA
+1.870.633.2211 Fax +1.870.633.2224
TEXAS
Brock Hotel Group
+1.817.410.5731 Fax +1.817.410.5757
Scoggin Blue LLC
P.O. Box 1255
Prosper, TX 75078 USA
+1.972.712.1534 Fax +1.214.291.5436
www.scogginblue.com
Scoggin Blue LLC
501 W. Main, Suite 101
Fredericksburg, TX 78624 USA
+1.512.963.3000 Fax +1.512.288.3922
www.scogginblue.com
VIRGINIA
4833 Rugby Avenue, Suite 100
Bethesda, MD 20814 USA
+1.301.215.7507 Fax +1.240.238.9868
+1.202.333.0880 Fax +1.202.337.9740
MBA Hotel Brokers
2902 Route 97
+1.410.489.5900 Fax +1.410.489.5515
www.mbahotels.com
WASHINGTON
+1.541.745.7707 Fax +1.541.745.7743
WEST VIRGINIA
+1.202.333.0880 Fax +1.202.337.9740
MBA Hotel Brokers
2902 Route 97
+1.410.489.5900 Fax +1.410.489.5515
www.mbahotels.com
WISCONSIN
Milmark Hotel/Motel Investments
N760 Hickory Hills Drive
Oconomowoc, WI 53066-9580 USA
+1.920.474.3871 Fax +1.920.474.3875
www.milmark.com
+1.952.835.9575 Fax +1.952.835.9842
www.westgor.com
WYOMING
+1.541.745.7707 Fax +1.541.745.7743
MEXICO
Global Commercial & Investment Real .
Estate Corp. de Mexico S.A. de C.V
Rio Tiber 224-A Pte.,Colonia del Valle
Garza, Garcia, N.L. C.P. 66220 Mexico
+52.81.8115.1440 Fax +52.81.8114.6770
www.globalcom-inv.com
The material contained in this Market Analysis Report is CONFIDENTIAL, and is furnished solely to
assist the recipient in considering whether to pursue negotiations to acquire the Property. The confidential
material shall not be used for any other purpose or made available to any other person without the
express written interest of Lodging Realty Services. The material is based, in part, upon information
supplied by the Owner and, in part, upon information obtained by Lodging Realty Services from sources
it deems reliable. The owner has provided Lodging Realty Services with certain data contained in this
brochure; this information has not been independently verified by Lodging Realty Services.
Summaries contained herein of any legal documents are not intended to be comprehensive statements
of the terms of such documents, but rather only outlines of some of the principal provisions. No warranty
or representation is made by the Owner, Lodging Realty Services or any of their affiliates or subsidiaries
as to the accuracy or completeness of the information contained herein.
BROKER DISCLAIMER
Broker Disclaimer
Prospective lenders should make their own investigation, projection and conclusions without reliance
upon material contained herein. The material herein is subject to change. See “Confidentiality and
Conditions” for further information.
Agency
The brokers involved are agents of the Owner and shall be compensated by the Owner.
T h a n k Yo u
For Considering
the Days Inn
& Econolodge
81
I H C
25
YEARS
LLC
THE REAL ESTATE ARM OF INTERIM HOSPITALITY CONSULTANTS
4145 YARDLEY CIRCLE | TALLAHASSEE, FL 23309-2942
CELL: 850.443.5010 | PHONE: 850.893.6010 | FAX: 850.893.8345
WWW.INTERIMHOSPITALITY.COM | [email protected]

PENSACOLA | FLORIDA Existing Pensacola Inn

Transcription

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