Property Summary PDF

Transcription

PROPERTY SUMMARY
The Hampton Inn & Suites – Lake Mary, Florida
Hampton Inn & Suites – Lake Mary
The information contained herein has been obtained from sources believed to be reliable; however, Gentry Mills Capital
makes no representation or warranty as to the accuracy of such information.
Hampton Inn & Suites, 850 Village Oak Lane, Lake Mary, Florida
www.gentrymillscapital.com
TABLE OF CONTENTS
TABLE OF CONTENTS
SECTION I
EXECUTIVE SUMMARY
•
SECTION II
Overview
1
PROPERTY AND MARKET INFORMATION
Property
•
Hampton Inn & Suites – Lake Mary, Florida
4
•
Aerial - Map
5
Market
•
Lake Mary, Florida
6
•
Colonial Town Park
8
•
Lake Mary Economy
•
SECTION III
Industry
9
Incentives to Entice Business
9
Opportunity Zones 1,2,3,4,5
10
Healthcare
11
Public Transportation
12
Education
13
Demographics
15
Employers, College, Hospitals Close to the Hotel
16
Top Employers – Orlando-Kissimmee-Sanford
Metropolitan Statistical Area and Top Employers
Seminole County
17
Competitive Set
19
PROJECT TEAM
•
Peachtree Hotel Group – Project Partner
21
•
Peachtree Hospitality Management – Hotel Management
Group
23
EXECUTIVE SUMMARY
Overview
The Hampton Inn & Suites Lake Mary at Colonial Townpark is located at 850 Village Oak Lane in Lake Mary, Seminole County
Florida. Lake Mary, known as the “City of Lakes”, is a suburb of Orlando and part of the Orlando-Kissimmee-Sanford
Metropolitan Statistical Area that had an estimated population of 2.2 million as of 2012.
The 130-room hotel was constructed in 2003 and is a limited service hotel with services that include: a breakfast area that
serves a free hot breakfast, outdoor swimming pool and whirlpool, 24-hour fitness center, 24 – hour self-service business
center, free WiFi, snack shop, convenience store, free self parking, laundry facility, gift shop/newsstand and a 912 square foot
meeting room sub-divisible into two rooms.
The hotel will undergo a $3,095,000 property improvement plan (PIP) as required by Hilton; however, the hotel will remain
open during the renovation process. The PIP is included in the overall capitalization of the offering.
About The Hampton Inn & Suites Brand
Hampton® Hotels, part of Hilton Worldwide, Inc., is an award winning leader in the mid-priced hotel segment which include
Hampton Inn, Hampton Inn & Suites and Hampton by Hilton. Hampton Hotels serve the value-conscious and quality-driven
travelers with more than 2,000 properties totaling nearly 200,000 rooms in 16 countries. Hampton Hotels offers high-quality
accommodations and amenities and delivers excellent customer service defined as “Hamptonality” which is backed by the
100% Hampton Guarantee. Hampton Hotels has been ranked No. 1 on Entrepreneur magazine’s 2015 Franchise 500 list for the
4th time in the past 5 years.
1
EXECUTIVE SUMMARY
Overview Continued
About Hilton Worldwide
Hilton Worldwide operates 12 brands in 93 countries with 4,265 hotels, resorts and timeshare properties comprising 705,196
rooms making them one of the world’s leading hospitality companies. For 95 years, Hilton Worldwide has been dedicated to
continuing its tradition of providing exceptional guest experiences. Hilton’s Brand portfolio ranges from iconic luxury
properties to innovative focused-service hotels and is one of the highest performing and most diverse in the industry. Brands
included in the Hilton portfolio are: Waldorf Astoria, Conrad, Canopy by Hilton, Curio – A Collection by Hilton, DoubleTree,
Embassy Suites, Hilton Garden Inn, Hampton Inn & Suites, Homewood Suites, Home 2 and Hilton Grand.
About Lake Mary, Florida
Lake Mary, the City of Lakes, was rated the #4 “Best Place to Live in America” in the August 2007 issue of Money magazine and
named one of the “Best Towns for Families” by Family Circle Magazine. Lake Mary is home to big name employers including AIG,
Symantec, Wells Fargo Home Mortgages, AT&T Mobility, National Headquarters for AAA, Verizon Financial, Convergys, Chase,
Digital Risk and Fiserv. Lake Mary is a major industrial and technology center with a $13.4 billion technology industry
employing 53,000 people.
The City of Lake Mary strives for excellence and professionalism. They have received awards for their parks, recreational
facilities, financial reporting and their commitment to the environment. Lake Mary (and it’s surrounding cities) has a great
quality of life, has a pro-business attitude and a commitment to education that creates a productive workforce.
Lake Mary is located in Seminole County along with the cities of Oviedo (11 miles), the county seat of Sanford (5 miles), Winter
Springs (8 miles), Casselberry (8.5) miles, Longwood (6 miles) and Altamonte Springs (10 miles). In 2013, Seminole County
celebrated “a Century of Success” since its founding in 1913.
Central Park at City Hall
2
EXECUTIVE SUMMARY
Overview Continued
Peachtree Hotel Group
Peachtree Hotel Group, LLC (“PHG”) is Gentry Mills Capital’s project partner on the Hampton Inn & Suites Lake Mary project.
PHG will also manage hotel operations. Peachtree Hotel Group, LLC (www.peachtreehotelgroup.com) is a fully integrated
investment and management organization specializing in premium branded, limited and select service hotels. PHG’s full
spectrum of services includes hotel investment into properties and debt, property and asset management, and development
and renovation management services. PHG’s executive offices are located at Two Premier Plaza, 5607 Glenridge Drive, Suite
430, Atlanta, Georgia 30342.
Property Management Company: Peachtree Hospitality Management
Peachtree Hotel Group, through its management arm, Peachtree Hospitality Management, has developed and tested its systems
and people on its own properties and extends that success as a third-party manager with the same passion and attention to
detail for a growing list of owners nationwide. An approved operator by all the major, premium hotel brand groups, the
company’s management expertise encompasses virtually every flag under the Marriott, Starwood, Hilton, Hyatt, Choice,
Wyndham and InterContinental Hotels Group banners. The company’s proven, cutting-edge, proprietary operating systems
give Peachtree a leg up on its competitive set.
3
Property Information
The Hampton Inn & Suites Lake Mary at Colonial Townpark
As discussed in the Overview, the Hampton Inn & Suites Lake Mary at Colonial Townpark is located at 850 Village Oak Lane in
Lake Mary, Seminole County Florida. Lake Mary, known as the “City of Lakes”, is a suburb of Orlando and part of the OrlandoKissimmee-Sanford Metropolitan Statistical Area that had an estimated population of 2.2 million as of 2012.
The 130-room hotel was constructed in 2003 and is a limited service hotel with services that include: a breakfast area that
serves a free hot breakfast, outdoor swimming pool and whirlpool, 24-hour fitness center, 24 – hour self-service business
center, free WiFi, snack shop, convenience store, free self parking, laundry facility, gift shop/newsstand and a 912 square foot
meeting room sub-divisible into two rooms. Room mix is 40 King, 39 Double Queen, 20 King Studio, 22 Double Queen Studio, 1
One-bedroom Suite, and 8 Handicap making a total room count of 130.
The hotel will undergo a $3,095,000 property improvement plan (PIP) as required by Hilton; however, the hotel will remain
open during the renovation process. The PIP is included in the overall capitalization of the offering.
Hotel Amenities
• 24-hour fitness facilities
• 24-business center
• Accessible bathroom
• Accessible parking
• Accessible path of travel
• Coffee/tea in lobby
• Laundry facilities
• Free self parking
• Free Wi-Fi
• Free hot breakfast
• Snack bar/deli
• In-room accessibility
• Outdoor pool
• Meeting rooms/conference space
• Multilingual staff
• Number of buildings/towers - 1
• Number of floors - 5
• Total number of rooms – 130
• Gift Shop/newsstand
4
Property Information Continued
Maps and Aerial
5
Market Information
Lake Mary, Florida
Lake Mary is positioned between Interstate 4 and Highway 417 in Seminole County, Florida. It is approximately 20 minutes
(18 miles) from Orlando and about a 45 minute drive to Daytona Beach. Two of Lake Mary’s premier locations for business
are the High-Tech Corridor, located just off I-4, and the Downtown Development District.
Lake Mary is known as the “City of Lakes” because it is situated within an area of four lakes; West Crystal lake, East Crystal
Lake, Big Lake Mary and Small Lake Mary. Situated on the shore of West Crystal Lake is the pinnacle of the Downtown
redevelopment area; the Lake Mary Events Center. Its beautiful view provides a setting for weddings, receptions, banquets,
parties, retreats and business meetings.
Lake Mary’s focus is on promoting a sense of community and a quality of life where people can live, work and play in a safe
and friendly environment. The crime rate in Lake Mary is one of the lowest in Florida due to a pro-active, community based
Police Department. They boast a skilled Fire Department that is ready to deal with any emergency as well as rapid response
and rescue.
Lake Mary Entertainment
Downtown Lake Mary, located just off of Lake Mary Boulevard, is a “walkable community” and is a large part of the City’s
redevelopment effort. Downtown is home to fine dining, sandwich shops, clothing boutiques, offices, a beautiful park and
gazebo shaded by huge oaks and City Hall. Every Saturday hundreds come to enjoy the Lake Mary Farmer’s Market and the
first Wednesday of each month they attend WineART Wednesday. The event includes food trucks, a wine/beer garden, artists,
live music, shopping, restaurants and more.
Recreation
Lake Mary has a natural beauty which you can appreciate on the Rinehart Trail that is part of the Cross Seminole Trail system
that runs through Lake Mary. You can bike, run, walk or rollerblade through this trail system. The Parks and Recreation
facilities are well maintained and offer something for everyone.
6
Market Information Continued
Additional Recreational Opportunities
Entertainment – Attractions
Colleges & Airports
Miles
Entertainment – Attractions
Colleges & Airports
Miles
Colonial Townpark Shopping Mall
.1
Riverwalk
7.0
Amstar Theaters
.1
Orlando-Sanford International Airport
8.0
Golfing
1.0
Rivership Romance
10.0
Bicycling
2.0
St. John’s Riverwalk
10.0
Driving Range
2.0
Sanford Historical Stadium
12.0
Hiking Trail
2.0
Sanford Museum
12.0
Putting Green
2.0
Seminole Community College
12.0
Central Florida Zoo
4.0
Downtown Orlando – Citrus Bowl
15.0
Golf Course
4.0
Stetson University
18.0
Bill Heard Soccer Complex
5.0
City Center
20.0
Historical Downtown Sanford
5.0
Rollins College
20.0
Lake Sylvan Sports Complex
5.0
University of Central Florida
20.0
Seminole Towne Center Mall
5.0
Beach
25.0
St. John’s river
5.0
Universal Studios Resort
28.0
Wekiva State Park
5.0
Universal
30.0
Basketball
5.0
Sea World
30.0
Bowling
5.0
Daytona Beach Speed World
35.0
Fishing
5.0
Daytona Beach
39.0
Horseback Riding
5.0
Walt Disney World Resort
36.0
Tennis Court
5.0
Walt Disney World
45.0
City Hall Grounds
7
Colonial Townpark
Colonial Townpark, 200 acres on Highway 46A at Interstate 4, is the ideal business community designed to give companies the
competitive edge they need to grow and succeed. This mixed-use development offers 825,000 sq. ft. of existing class A office
space, 40,700 sq. ft. of Office above Retail, a 450-unit upscale apartment community (Colonial Grand at Townpark Reserve), an
88-unit apartment building including loft apartments and retail which includes a 12-screen stadium seating theater, Hampton
Inn & Suites, SunTrust Bank, Chase Bank, Publix grocer, upscale shops, and restaurants to include: Ruth’s Chris Steak House,
Dexter’s, Liam Fitzpatrick's Irish Pub, Crispers, Amura Japanese Steak House, Subway, Papa Joes Pizza, and more.
Colonial Townpark was planned with the pedestrian in mind. It’s easy to walk to a movie, restaurants, a movie, town square or
other Lake Mary attractions from the Hampton Inn & Suites Lake Mary at Colonial Townpark.
Townpark offers access to walking trails and a community park. Banking, retail and restaurants are within walking distance.
On-site Conference Center and Fitness Center with separate men’s and women’s showers. Only 10 minutes from the Sanford
Amtrack Station and the Sanford International Airport and 35 minutes from Orlando International Airport.
Colonial Townpark Mall
8
Lake Mary Economy
Industry
Lake Mary has a “business-friendly” attitude as shown by the incentives supplied by the City of Lake Mary, Seminole County
and the State of Florida. Lake Mary is already the home to several prominent employers such as AT&T, Verizon Wireless,
Symantec, SunGard, FARO Technologies, ABB, Blue Cross Blue Shield, Axium Healthcare and many others.
Lake Mary has a high concentration of professional, educational and business services that reflect the City’s commitment to
education. The four largest industries are: (1) Education, Health, Social Service; (2) Professional, Scientific, Management; (3)
Retail; and (4) Finance, Insurance, Real Estate.
The City offers strategic partnerships with Seminole County, the Metro Orlando Economic Development Commission, and
Enterprise Florida providing incentive programs that will make bringing a business to Lake Mary much easier. The tax base is
well split between residential and commercial uses, there are low property taxes, and there is no state income tax. Lake Mary
has the lowest ad valorem tax rate in Seminole County.
Incentives are essential to attracting great business. Through Lake Mary’s strategic partnerships, they are able to provide
incentives and funding that will save a business money and improve its transition into the community.
Lake Mary Incentives
Lake Mary Jobs Growth Incentive Program: The City provides up-front, performance-based, cash incentives to qualifying
targeted industries that create high-value job opportunities and significant capital investments in the city.
Lake Mary Incentive Partnering: The City of Lake Mary has established partnerships with Seminole County and the State of
Florida and will participate with County and State incentive programs (local matches, etc.) on a case-by-case basis.
Lake Mary permit Assistance and Expedited Permitting: Permit-streamlining is achieved through a commitment among the
State’s regulatory agencies and local governments to provide quicker, less costly and more predictable permitting processes for
significant economic development projects without reducing environmental standards.
State of Florida Incentives
•
Qualified Target Industry Tax Refund (QTI)
•
Capital Investment Tax Credit (CITC)
•
Economic Development Transportation fund (Road Fund)
•
High Impact Performance Incentive Grant (HIPI)
•
Qualified Defense Contractor Tax Refund (QDC)
•
Quick Response Training Incentive (QRT)
•
Incumbent Worker Trainer (IWT) Incentive
9
Lake Mary Economy Continued
Entrepreneurial Services Start-Up Business
Florida High Technology Corridor
Since it was created in 1996 by the Florida State Legislature, the Florida High Tech Corridor Council has focused on one
mission: to attract, retain, and grow the high-tech industry in the 21-county region of the Corridor. This accomplished
through university research initiatives, the creation of workforce development projects, and joint marketing of the region with
economic development, community colleges and industry partners. In any given year, the Council funds dozens of research
projects, and even greater number of workforce, marketing and industry initiatives.
The Florida High Tech Corridor Council is a strategic partner with the City of Lake Mary and assists the City with marketing
and development of Seminole Way (a strategic economic development initiative focused on attracting high-value jobs and
businesses to Seminole County).
The Council serves a geographic region encompassing the service area of the University of Central Florida and the University
of South Florida. This high-tech area boasts six distinct sectors: aviation and aerospace, information technology, medical
technology, microelectronics, modeling and simulation, and optics and photonics.
Florida Virtual Entrepreneur Center
The Virtual Entrepreneur Center is a web portal designed to provide a robust and easy-to-use resource for local
entrepreneurs to find information and services to support their new or growing business. Developed in partnership with the
Florida High Tech Corridor Consortium, the Virtual Entrepreneur Center provides useful links to service providers, local
government, and other agencies to support starting up a business, expanding a business, or relocating businesses to Central
Florida.
GrowFL
The Florida Economic Gardening Institute’s mission is to cultivate growth companies across the state. The program, funded
by the Florida Legislature at the University of Central Florida and operated by UCF, involves a host of partners committed to
local delivery of statewide services to help second-stage companies achieve their potential. Available to Lake Mary companies
and companies throughout the State of Florida, GrowFL provides, at no charge, a suite of high-end, high-speed technical
assistance and business resources to companies that have grown beyond the startup phase and need access to information
and decision-making tools typically only available to larger companies. A team of highly trained and experienced analysts will
be deployed to function not as consultants, but as an extension of the business. Consider them elite staff at a company’s
disposal to take the company to the next level. GrowFL draws on the strength of its unique partnerships, which include the
Florida Economic Development Council, enterprise Florida, Workforce Florida, the Florida High Tech Corridor Consortium
and others, to help second-stage companies grow.
Future Development
The City of Lake Mary Economic Development Department has designated 5 “Opportunity Zones” showing parcels available
for future development for commercial, industrial, and mixed use projects. The Zones are:
Opportunity Zone 1: Rinehart Business Center – Currently home to many office buildings, most located in master planned
office parks. Located at Primera Blvd. and Rinehart Road with easy access to I-4 and State Road 417. Features 17 parcels
totaling 339 acres of commercial and industrial land.
Opportunity Zone 2: Downtown Lake Mary – Zone 2 spans from Central Park and City Hall to the greater SunRail
development area. This zone is part of a master-planned area for mixed use development West of the SunRail station is the
heart of Downtown with room for general commercial use. East of the SunRail station is largely undeveloped and is ideal for
mixed-use multi-family residential, commercial and loft-style residential units.
10
Future Development Continued
Opportunity Zone 3: Lake Mary Midtown – Spans Lake Mary Blvd from Longwood-Lake Mary Road to the Lake Mary
Downtown. Currently home to retail and undeveloped land for offices, commercial and mixed uses. There are five parcels
identified totaling 42 acres.
Opportunity Zone 4: International Parkway Industry Zone – Located off International Parkway, parallel to Interstate 4 on
Business Center Drive. This zone is the City’s most walkable neighborhood after Downtown and is surrounded by high-end
office space, Uptown Lake Mary and Heathrow. It has quick access to Interstate 4 from both ends of International Parkway.
There hundreds of thousands of sq. ft. of Class-A office space, 472 high-end residential apartment units, shops,
restaurants/bars and other support retail uses. There is just over 8.5 acres of land available and undeveloped that is targeted
for high-density urban development centering on office and light retail space. This zone is near the Heathrow Campus of
Seminole State College on AAA Drive.
Opportunity Zone 5: High-Tech Corridor – on Lake Emma Road, south of Lake Mary Blvd. Offers easy access to Interstate 4
via Lake Mary Blvd. and Lake Mary’s neighboring city, Longwood. Currently Class-A office space, manufacturing,
warehousing, medical and corporate headquarters are located here. There is currently a parcel of 33.28 acres of developed
land with an existing 566,000 sq. ft. facility with 62,500 sq. ft. of Class-A office space in addition to industrial and warehousing
space targeted for light industrial or office use. The 4 parcels in this zone comprise 104 acres zoned for intensive commercial
use. Parcel 36 containing 22.5 acres and is the last significant parcel offering high visibility on an Interstate 4 interchange in
the vicinity.
Future Hotel Development
Per the Lake Mary Appraisal, no new permits have been issued to construct a new hotel. And, the Peachtree Hotel Group is
not aware of any new, or pending permits.
Healthcare
Within Seminole County there are 3 acute care hospitals within 6 to 10 miles from the hotel. The Central Florida Regional
Hospital is a 226-bed acute care hospital and accredited chest pain center serving Seminole and west Volusia counties and
located within 6 miles of the hotel in the city of Sanford. The hospital employees more than 970 employees. In June of 2013,
Central Florida Regional Hospital opened The Rehabilitation Center, the only facility of its find in Seminole County that offers
rehabilitation for patients with complex conditions that may include stroke, spinal cord injury, amputation or brain injury.
The 206-bed acute care hospital, Orlando Regional South Seminole Hospital is located just 6 miles from the hotel in
Longwood. The hospital has a 30-bed emergency department and is able to accommodate over 60,000 patients annually.
Smart Care services for minor emergencies is available. Another specialty is its reputable behavioral health center for adult
and youth counseling and has an 80-bed inpatient department providing comprehensive care for adults, adolescents and
children with mental health diagnoses. South Seminole Hospital is proud to be home to Seminole County’s only permanently
based trauma helicopter ready to provide immediate access to the region’s only level one trauma center at Orlando regional
Medical Center.
Florida Hospital – Altamonte has provided healthcare to the community since 1973. The 341-bed hospital cares for more
than 183,000 patients a year, including 73,062 emergency patients and 22,087 inpatients, and oversees more than 2,200 baby
deliveries annually. An additional 36-bed inpatient unit dedicated to spine and orthopedic patients is being added to the
hospital along with four additional operating rooms and The Baby Place that will double the current size of the infant unit.
Florida Hospital – Altamonte is located within 10 miles of the hotel.
11
Public Transportation
SunRail Commuter Rail Transit System
In the Spring of 2014, Sun Rail began operating its commuter rail transit system. SunRail operates along a 32-mile route with
12 stations serving commuters from DeBary to Sand Lake Road. The 12 stations are: DeBary Station, Sanford Station, Lake
Mary Station, Longwood Station, Altamonte Springs, Maitland Station, Winter Park Station, Florida Hospital Health Village,
Lynx Central Station, Church Street Station, Orlando Health/Amtrak Station and Sand Lake Road Station.
In 2015, construction is expected to begin on an additional 29-mile segment linking Sand Lake road in Orange County to
Pionciana in Osceola County, and DeBary to DeLand in Volusia County. This segment will have 5 stations and is expected to be
up and running by 2017. Stations along this segment will be Deland Station, Meadow Woods, Tupperware Station, Kissimmee
Amtrak and Poinciana Station.
SunRail is expected to move as many people as one lane of Interstate 4 during peak travel times (about 2,000 cars per hour),
at a cost less than building a single lane of I-4.
Orlando Sanford International Airport
Sanford International Airport is situated on approximately 2,000 acres in Sanford, Florida which is located in the
northwestern section of Seminole County, 18 miles northeast of Orlando. New to the airport in 2013 was the 787 Dreamliner
service into the state of Florida. Beginning with an inaugural flight from Manchester, United Kingdom, the Dreamliner which
carries 291 passengers, flew to Orlando Sanford on long-haul routes from three additional UK airports (London Gatwick, East
Midlands and Glasgow). In 2014 flights from Birmingham, Edinburgh and Newcastle began and brought the total to seven
cities.
12
Orlando International Airport
The Orlando International Airport (MCO) is Orlando's primary airport and currently the second busiest airport in the state of
Florida closely behind Miami International Airport. The airport serves as a secondary hub and corporate headquarters for
AirTran Airways and a focus hub city for Southwest Airlines, JetBlue Airways and Frontier Airlines. The airport serves as a major
international gateway for the mid-Florida region with major foreign carriers including Lufthansa, Air Canada, British Airways,
Air France, WestJet, Virgin Atlantic, Aer Lingus, TAM, and Aeromexico.
Education
Public School System
Seminole County Public Schools is one of the highest-rated school systems in the nation. With a standout high school, two
middle schools, and three elementary schools, Lake Mary offers public K-12 education, as well as several private and parochial
education options. The close proximity to Seminole State College, the University of Central Florida and several private colleges
also provides many local opportunities for continuing education. The students of Seminole county Public Schools are annually
recognized for their performance in academics and their participation in academic competitions, athletics, performing and
visual arts as well as student government.
13
The University of Central Florida
The University of Central Florida (UCF) is a “metropolitan” public research university located approximately 20 miles from the
Hampton Inn & Suites Lake Mary Colonial Townpark hotel. The university was founded by the Florida Legislature in 1963, and
opened in 1968 as Florida Technological University with the mission of providing personnel to support the growing U. S. space
program at the Kennedy Space Center and Cape Canaveral Air Force Station on Florida’s Space Coast. As the academic scope
expanded beyond its original focus on engineering and technology, Florida Tech was renamed the University of Central Florida
in 1978.
Initial enrollment was 1,948 students and as of 2014 enrollment consists of 59,770 students from over 140 countries, all 50
states, Puerto Rico and Washington D.C. making it the 3rd largest University in the nation. UCF is a space-grant university and
has made noted research contributions to optics, modeling and simulation, digital media, engineering and computer science,
business administration, education, hospitality management, and the arts. It is considered an up-and-coming university by U. S.
News & World Report.
Seminole State College
Seminole State College opened its doors in August of 1966 with 800 students in portable classrooms. Today, the college has
more than 31,000 students and six sites throughout Seminole Country. The college offers 192 college degrees, certificates and
programs including five bachelor’s degrees and is the eighth largest institution in the public Florida College System with
campuses in Altamonte Springs, Heathrow, Sanford/Lake Mary and Oviedo. Courses are offered on campus and online. The
Seminole State college is located less than 7 miles from the Hampton Inn & Suites Lake Mary Colonial Townpark.
14
Educated Workforce
Lake Mary has a robust commitment to education and has an even stronger workforce. The concentration of high-school
diplomas and bachelor’s degrees is higher than that of Seminole County and the State of Florida. Forty three percent (plus) of the
resident population hold bachelor’s degrees or higher. The region also has the nation’s third largest university and research hub
– the University of Central Florida. Seminole State college of Florida has one of its 4 campuses in Lake Mary. Both of these local,
higher-education institutions provide more than 200 degree programs and continue to feed an industry-ready workforce.
Private colleges, including Rollins and Stetson, only a short drive away, provide another alternative. These private options both
provide about 70 degree programs that also feed into the accelerated workforce of Central Florida.
City of Lake Mary Demographics
With access to higher education, connected public transportation with SunRail to Orlando, as well as many new homes and
apartments, Lake Mary provides one of the best places to live (rated #4 “Best Place to Live in America” by Money Magazine and
one of the “Best Towns for Families” by Family Circle Magazine). A walkable downtown with excellent shopping, dining and
events creates an authentic urban feel within a relaxed hometown environment.
Median Age: Lake Mary is 42 years, slightly higher than Seminole County and the State of Florida. The population of Lake Mary
broken out by age: 32% are 45-64, 24% are 25-44, 14% are 65+, 17% are 0-14 and 13% are 15-24 (Source: Metro Orlando EDC,
2013 estimates).
Educational Attainment: Based on the Metro Orlando EDC 2013 estimates, 43% of the population of Lake Mary have a
Bachelor’s Degree or higher, 93% have a High School Degree or higher. In Seminole County, 34% of the population have a
Bachelor’s Degree or higher and 90% of the population have a High School Degree or higher. In the State of Florida, 26% of the
population has a Bachelor’s Degree or higher and 86% of the population has a High School Degree or higher.
Median Household Income: Lake Mary’s median household income is $76,037, Seminole County’s medium household income
is $58,577 and the State of Florida’s medium household income is $45,309.
Median Home Value of Owner-Occupied Units: Lake Mary - $271,300, Seminole County - $204,000 and State of Florida $170,800.
Office Building Located within the Rinehart Business Center
15
Property
Miles from Hotel
No. of Employees
Wells Fargo Home Mortgage
2.70
571
Verizon
2.77
750
Fiserv
1.17
661
AAA National Headquarters
1.50
1,006
Convergys
2.25
1,771
Seminole State College
6.87
31,000
Students
Orlando Sanford International Airport
8.40
Central Florida Regional Hospital – Sanford
Florida Hospital Altamonte Springs
Orlando Regional South Seminole Hospital –
Longwood
6
10
6
16
Top Employers in Orlando-Kissimmee-Sanford Metropolitan Statistical Area
Company
Industry
Employees
Walt Disney World Company
Theme Parks and Resorts
69,000
Publix Super Markets Inc.
Grocery Stores/Supermarkets
19,000
Florida Hospital
Health Care
17,600
Universal Orlando Resort
Leisure and Hospitality
17,300
Wal-Mart Stores, Inc.
Discount Variety Store
16,757
Orlando regional Healthcare System
Health Care
14,310
University of Central Florida
Education
10,346
Winn-Dixie Store, Inc.
Grocery Store/Supermarkets
9,500
McDonald’s Corporation
Restaurants
8,000
Darden Restaurants Inc.
Restaurants
7,000
Walgreen Co.
Pharmacy/Drug Retailing
6,200
SeaWorld Orlando
Leisure and Hospitality
6,032
Health First
Health Care
5,800
Lockheed Martin Corporation
Aerospace/Defense
5,774
Marriott International Inc.
Hospitality
5,635
Central Florida Investments/Westgate Resorts
Hospitality
5,323
Siemens
Industrial Manufacturing
4,448
Rosen Hotels and Resorts
Hospitality
3,963
Cox Enterprises, Inc.
Media Conglomerate
3,931
Sears, Roebuck and Company
Department Store Chain
3,927
Source: Florida Trend 2013; Orlando Business Journal 2014
AAA National Headquarters
Verizon
17
TOP 50 SEMINOLE COUNTY PRIVATE EMPLOYERS
Company
City
Business Type
Employees
Convergys
Florida Hospital
Chase Bankcard Services
Orlando Regional Healthcare
American Automobile Association
Embarq
Sears Home Improvement Products
Try City Electrical Contractors
Central Florida Regional Hospital
Fiserv
BNY Investments
AIG Marketing Inc
Symantec Software Global LLC
Progress Energy
Wells Fargo
Del-Air Heating and Air Conditioning
Hancock Information Group
Wharton Smith
Wiginton Corporation
Hartford Insurance Group
ABB Power
Mitsubishi Power Systems
Liberty Mutual
SunGard THE
Curascript
Florida Extruders
CPH Engineering
Morton Electric
Insurance Office of America
Allegiant Air
Delta Connection Academy
Traffic Control Devices
Invacare Corporation
Faro Technologies
Featherlite Motorcoach
Plus Communications
Ideal Aluminum Products
Swissport USA
Institute of Internal Auditors
Florida Stainless Fabricators
AT&T
Business Objects Inc.
Comprehensive Energy Services
The Newport Group
Dearborn Electronics Inc.
Consolidated Label Company
Reynolds Inliner LLC.
American Door and Millwork
Lake Mary
Altamonte Springs
Heathrow
Longwood
Heathrow
Altamonte Springs
Longwood
Altamonte Springs
Sanford
Lake Mary
Lake Mary
Lake Mary
Heathrow
Oviedo
Lake Mary
Sanford
Longwood
Sanford
Longwood
Lake Mary
Lake Mary
Lake Mary
Heathrow
Lake Mary
Lake Mary
Sanford
Sanford
Longwood
Longwood
Sanford
Sanford
Altamonte Springs
Sanford
Lake Mary
Sanford
Lake Mary
Sanford
Sanford
Altamonte Springs
Oviedo
Lake Mary
Lake Mary
Longwood
Heathrow
Longwood
Longwood
Longwood
Sanford
Software
Medical
Financial Services
Medical
Service
Service
Home Improvement Products
Electrical Contractors
Medical
Software
Financial Services
Marketing
Software
Electric Utility
Financial Services
Service
Marketing
Construction
Service
Insurance
Manufacturing
Manufacturing
Insurance
Software
Specialty Pharmacy
Manufacturing
Service
Electrical Contractors
Insurance
Airline
Aviation
Service
Manufacturing
Manufacturing
Manufacturing
Communications
Manufacturing
Aviation
Professional Association
Manufacturing
Telecommunications
Software
Service
Financial Services
Manufacturing
Manufacturing
Manufacturing
Manufacturing
1771
1671
1634
1089
1006
986
924
803
786
661
650
638
621
618
571
550
514
512
491
488
403
374
366
359
348
341
308
284
270
267
265
253
245
216
200
181
180
170
169
163
159
145
141
140
139
136
124
116
Source: Seminole County Regional Chamber of Commerce
18
COMPETITIVE HOTELS
Hotel
Year
Built
Rooms
Meeting
Room
Fitness
Center
Business
Center
Subject Hotel:
Hampton Inn & Suites
Lake Mary
2003
130
912
Y
Y
Courtyard Orlando
Lake Mary North
1998
83
1318
Y
Hilton Garden Inn Orlando
Lake Mary
1998
123
1,188
Homewood Suites
Lake Mary
1998
112
SpringHill Suites Orlando
North Sanford
2000
Marriott Orlando
Lake Mary
Hyatt Place Orlando
Lake Mary
F&B
OCC
ADR
Out
N
84.5%
$92.25
Y
Out
Y
70%
$90$95
Y
Y
Out
Y
75%
$90–
$95
1,607
Y
Y
Out
N
75%
$95 $100
105
1,880
Y
Y
Out
N
70%
$85$90
2002
304
11,551
Y
Y
Out
Y
70%
$110$115
2008
128
2,184
Y
Y
Out
Y
80%
$85 $90
72%
$98.57
Total or Weighted Average
985
Pool
Source: On-site managers, public websites, STR (taken from the Appraisal)
1. Courtyard Orlando Lake Mary North
3. Homewood Suites Lake Mary
2. Hilton Garden Inn Orlando Lake Mary
4. SpringHill Suites Orlando North Sanford
5. Marriott Orlando Lake Mary
6. Hyatt Place Orlando Lake Mary
19
COMPETITIVE SET MAP
P
Subject Hotel: Hampton Inn & Suites Lake Mary
1
Courtyard Orlando Lake Mary North
2
Hilton Garden Inn Orlando North Lake Mary
3
Homewood Suites Lake Mary
4
Spring Hill Suites Orlando North Sanford
5
Marriott Orlando Lake Mary
6
Hyatt Place Orlando Lake Mary
20
PROJECT TEAM
Project Partner
Peachtree Hotel Group (www.peachtreehotelgroup) is a hospitality investment and management organization dedicated to
excellence, loyalty and value creation within its financial partners, team members, guests and communities. The company’s
full spectrum of services include hotel investment into properties and debt, property and asset management, and
development and renovation management services.
With a total of more than 125 years of combined experience, Peachtree Hotel Group has created a solid platform for
investing, operating and developing hotels throughout the Untied States. Through the years, the company’s senior leaders
have been providing excellent returns for investors while delivering exceptional services and accommodations for hotel
groups.
PHG’s innovative and experienced leadership team is ready to exceed expectations for their investors, team members and
guests. Since its inception, Peachtree has acquired or developed more than $300 million of hotels and first mortgage notes.
Peachtree currently owns, operates, or is invested in approximately 40 hotels, comprising more than 3,500 guest rooms
throughout the Untied Stated. Its management arm, Peachtree Hospitality Management, operates 30 hotels with more than
3,000 rooms.
PHG Property Portfolio
Comfort Suites, Starkville, MS
Courtyard Marriott, Jacksonville, FL
Courtyard Marriott, Gulf Shores, AL
Hilton Garden Inn, Indianapolis, IN
21
PROJECT TEAM
PHG Property Portfolio Continued
Holiday Inn , Daytona Beach, FL
Fairfield Inn & Suites, Montgomery, AL
Hyatt Place, Jacksonville, FL
Fairfield Inn & Suites, Valdosta, GA
Homewood Suites, Durham, NC
Hotel Indigo, College Park, GA
Courtyard Marriott, Columbus, MS
Hampton Inn & Suites, Milledgeville,
GA
22
PROJECT TEAM
Hotel Management Group – Peachtree Hospitality Management
Hotels are a highly complex class of real estate that requires sophisticated operating systems and support. A successful
hotel operator must focus on creating revenues and guest experiences while controlling expenses and protecting investor’s
capital to ultimately produce returns.
As mentioned in the Overview, Peachtree Hotel Group, through its management arm, Peachtree Hospitality Management,
has developed and tested its systems and people on its own properties and extends that success as a third-party manager
with the same passion and attention to detail for a growing list of owners nationwide. An approved operator by all the
major, premium hotel brand groups, the company’s management expertise encompasses virtually every flag under the
Marriott, Starwood, Hilton, Hyatt, Choice, Wyndham and InterContinental Hotels Group banners. The company’s proven,
cutting-edge, proprietary operating systems give Peachtree a leg up on it competitive set.
The company’s range of services include:








Hotel Property Management
Sales and Marketing
E-Commerce Management
Revenue Management
Centralized Accounting
Asset Management
Pre-Opening Services and Technical Coordination
Renovation Project management
The company’s business model is built on four pillars:
1.
2.
3.
4.
Guests – Peachtree’s core belief is that there is no hospitality experience without an engaged guest. The company
operates quality assets which result in a memorable stay, one guest at a time.
Team Members- Peachtree engages with its team members to create a living, breathing culture to consistently deliver a
work environment that provides an exceptional guest experience and builds a better bottom line. The company
genuinely takes a family approach with its team, providing a professional, yet relaxed, atmosphere to help its people
thrive and grow while empowering them to provide the best possible guest experience.
Financial Partners – The company stresses open, two-way communications with it stakeholders to build and deliver a
winning business plan to meet the owner’s objective and deliver superior returns to its investors/partners.
Communities – A thriving hotel also must be a thoughtful, interactive, compassionate part of the community. Peachtree
supports its communities both at the corporate and property levels, such as working with habitat for Humanity and
supporting local parks and youth leagues in various markets.
23

Property Summary PDF

Transcription

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