Convention & Conference Centers

Services Provided

Appraisals & Valuation Studies
Asset Management
Development Services
Facilities Planning
Feasibility Studies & Market Research
Impact Studies
Litigation Support & Expert Witness
Operational Reviews
Repositioning Studies
Site Selection & Analysis
Strategic Planning

Project Descriptions

• Provided consulting advisory services to a prominent state university relative to the development of a 150-room full-service hotel and conference center on its main campus.  The university issued an RFP seeking a hotel developer/operator for a proposed hotel and conference center at its main campus.  Two hotel developers responded to the RFP and submitted proposals; however, each proposal indicated a different sized need for conference space – one was for 10,000 square feet (with the potential to add another 10,000 square feet at a later date), while the other was for 20,000 square feet. As such, the university wished to have an independent 3^rd party review the market to ascertain the most appropriate amount of conference space to be developed alongside the planned 150-room hotel.  Given the symbiotic relationship between the hotel and the conference center, we reviewed both components as part of our due diligence to validate the proper size of the conference center.  The specific objectives to be achieved from our research included establishing the following

• The preferred site location based on the two provided;

• An appropriate size for the conference center to complement 150-room hotel;

• Indicated demand and quality level of facility;

• Importance of branding versus independent hotel;

• Usage estimates by segment for conference center; and

• Pricing and top-line revenue estimates for the hotel/conference.

• Provided consulting advisory services to the Real Estate Foundation of a university relative to the development of a 125 unit select-service franchised hotel adjacent to their new convocation center on the main campus.  The initial work related to undertaking a market feasibility study to determine the level of hotel demand that currently and prospectively exists in the market and whether or not it is sufficient to support the development of a hotel.  Once the viability of the project was established, we estimated development costs for the project, prepared an appraisal of the land, as well as undertook the necessary due diligence to establish a market-based ground lease structure for the hotel.  Our firm then identified various potential hotel owner/operators who were willing to enter into a long term land lease with the Foundation for the express purpose of developing and operating the hotel. The Foundation then issued an RFP and chose one of our clients as the hotel developer/operator. 

• Undertook a diagnostic operational review of a hotel and conference center located on the main campus of a university in order to identify any issues and subsequently make recommendations on improving the overall revenue and income potential of the subject.  REVPAR International reviewed and investigated the facilities, operations, and management and identified the primary issues related to the historical performance, as well as made recommendations to correct the situation.  Our analysis included: 

• A general overview of the operating, market and financial position of the subject relative to the industry and competitive set;

• A SWOT Analysis (Strengths, Weaknesses, Opportunities, and Threats) to identify the issues affecting ownership, management, physical facilities, etc., currently and prospectively;

• Recommended strategies regarding the market positioning of the facility;

• Recommended strategies in operational policies and procedures that would have a positive impact on the future operating or financial performance of the hotel; and

• Prioritizing the recommended strategies based on their contribution to operating profits.

• Prepared a market feasibility study for proposed 175-room first class hotel and 12,000 square foot conference center to be located adjacent to a university; as such, the primary user of the proposed hotel’s rooms and conference space was the university.  Much of our analysis and research focused on the various sources of demand emanating from the university and its schools including continuing education programs, alumni activities and events, and other demand sources. In addition, we interviewed other university conference centers to understand the nature of the demand, overall operating performance, price sensitivity issues, as well as required facilities and services, to name a few. Coupled with this, we researched the more traditional sources of room night and conference demand to supplement the usage by the university.  We also researched and analyzed the existing hotels and meeting facilities used by the university in order to verify room rate thresholds, required facilities, programming, etc.  Other components of the study included estimating the cost to develop the hotel, recommended number of rooms, food and beverage outlets, size of meeting and banquet facilities to meet the needs of the prospective market, recommendations as to product and price positioning, and preparation of operating pro formas under these assumptions, and preparation of a valuation for the project under differing scenarios to assess its financial feasibility.  Project also included identifying management companies and hotel chains for the developer, with the expectation of bringing in a third party operator for the facility on behalf of the owners. 

• Undertook a diagnostic operational review of a state-owned 220-room lodge and conference center.  The overall objective of the assignment was to evaluate the operations and marketing program of the facility to determine those areas where improvements could be made, with an eye towards improving the profitability of the overall resort. Since opening, the facility had been operating well below planned performance levels and was losing a significant amount of money.  A specific component of the study analyzed the meeting/conference space component of the facility and the target group market relative to the competition, both existing and proposed.  A recommendation was made to expand the meeting facilities in order to enhance the competitive position of the resort and enable it to better penetrate the group market – its primary source of business.  All other operating departments of the facility were reviewed as part of the assignment.  Subsequent to our findings, REVPAR International was retained to assist in identifying and selecting a new management company for the facility and assist in negotiating the agreement and contracts.  As part of this process, we were able to have the management company put up equity dollars to fund a portion of the expansion plans for the meeting space.