Hotel Development Consultants Archives

Project Feasibility Study for Resort – Molokai Island

Confidential Client | As hotel-resort development consultants, we provided a resort project feasibility study with financial projections and capital budgeting, along with select development due diligence items. For a proposed resort on the mauka side of Kamehameha V Highway east of Kaunakakai on the island of Moloka’i. StoneCreek has worked with clients throughout the Hawaiian Islands preparing due diligence reviews for proposed acquisitions, conceptual approaches to resort development, and project feasibility studies for resorts, shopping centers, and planned communities.

Most of the history of the first Hawaiians in Molokai comes from chants, passed down from generation to generation, which have kept a chronology of events, battles and lineage. Captain James Cooke signed Molokai in November 1778, on his first visit to the region – the Sandwich Islands as he called them. Captain George Dixon in 1786 was the first European to actually set foot on and visit Molokai. Hawaiians first migrated to Molokai about 650 A.D., generally considered to have come first from the Marquesas, then in double hulled canoes from Tahiti and other South Pacific islands.

On the Hawaiian islands, feasibility studies for resorts can become complex, with sensibility for cultural and historical factors of Native Hawaiians requiring – always required. This project feasibility study for resort was no exception.

Asset Management of Marina Beach Hotel

Over a five-year period, provided asset management of Marina Beach Hotel, and owner representation, for this destination resort hotel in the Marina del Rey area.

Asset management included re-branding this Los Angeles area hotel to a Marriott Hotels franchise and selection of Outrigger Hotels U.S. as facilities manager. A major renovation was also completed that included an upgrade to case goods in all guestrooms and upgrade to food and beverage services provided at the hotel’s rooftop group events space.

Formerly the Marina Beach Marriott, the property is now known as the Marina del Rey Marriott.

Assignment performed by Donald Bredberg while under contract leading the investment portfolio managed by Newfield Enterprises International (“NEI”). Asset management of the Marina Beach Hotel investment included this hotel and two others, retail and office space, and boat-slips at Marina del Rey. Marina del Rey is a small craft harbor created by a public-private partnership that included the Army Corps of Engineers, and funded and planned by the Federal government, the County of Los Angeles, and private developers. Marina del Rey is the largest man-made marina in North America, with over 4,600 boat slips.

The investment was held in joint venture with Real Property Management, Inc. (“RPM”) prior to completing a buyout of RPM’s interest in the portfolio.

project feasibility consultants - California coastal resorts market

Project Feasibility and Due Diligence, for Resort Hotel

24.01.2016 Hotel Development Consultants, Project Feasibility Consultants

As a real estate consultant, a project feasibility study and due diligence review was prepared for the proposed Monterey Plaza resort hotel, to be located in Monterey, California.

Our development consulting work included an analysis of market support for the project, hotel financial projections, preliminary capital budget, an entitlements and permitting assessment, and facility recommendations for the planned hotel development. Meeting space and meeting room configuration recommendations included an overall sizing recommendation, at 18,000 to 20,000 SF of space.

The site for the resort hotel was situated along a rocky beach overlooking Monterey Bay, in the Cannery Row district of Monterey. Cannery Row is the historic waterfront street which at one time was the site of a several sardine canning factories, the last of which shuttered in 1973. Cannery Row was made famous in a 1945 novel set during the Great Depression, by author John Steinbeck. Monterey’s Cannery Row district is also home to the famed Monterey Bay Aquarium.

Subsequent to preparation of the project feasibility study and due diligence, and full project design, this 290-room resort hotel was built and opened as one of the premier independent properties of the Monterey (California) region. The hotel is located at 400 Cannery Row in Monterey, California and is now operated by Woodside Hotel Group.

La Entrada Resort Santa Barbara

24.08.2012 Hotel Development Consultants

Mountain Funding, LLC | Program management of initial Phase 1 construction for resort and fractional ownership hotel development in coastal Santa Barbara.

Construction scope primarily site prep, de-watering, and driving of pilings. The property was subsequently sold to 35 Hotel Street Partners, an affiliate of Woodridge Capital Partners LLC.

The La Entrada project was at the time entitled for a 114-room luxury hotel, nine fractional ownership units, and 21,557 square feet of retail space with open plazas, paseos and gardens. The resort architecture evokes the Spanish Colonial Revival style long-admired in Santa Barbara. The Hotel Californian, a small commercial hotel that is part of the redevelopment plan, was built in 1925 as one of the first buildings to be designed in the new Spanish Colonial Revival style envisioned by city leaders in the 1920’s that now defines Santa Barbara.

Our client work here was part of our ongoing hotels and resorts development consulting practice.

The Ritz-Carlton Aspen Hotel – Owner Representation

01.11.1999 Hotel Development Consultants, Owner Representation Consultants

Owner representation during construction completion and for ongoing hotel asset management. Evaluated feasibility of in-house spa facilities for the hotel. Part of Aspen Mountain P.U.D. The destination resort has since been re-flagged as the St. Regis Aspen.

Our resort project consulting responsibilities included oversight of the hotel management company (Ritz-Carlton), including capital improvement programs. On behalf of the family office of Newfield Enterprises International (NEI), itself owned the Ibrahim brothers: HES’ Abdulaziz, Khaled, and Waleed bin Ibrahim Al Ibrahim.

Aspen, Colorado ranks as one of the world’s top resort destinations, known both for its skiing and Winter sports, as well as its considerable year-around cultural and intellectual pursuits. The Aspen Institute is known worldwide for its schedule of events.

From its mining town origins, the central business district of Aspen is now an upscale shopping district that includes high-end restaurants, salons, and luxury retail stores. Aspen (Pitkin County) was founded as a mining camp during the Colorado Silver Boom and named for the abundance of aspen trees in the area. The city emerged as a ski area after World War II, with the foundation of Walter Paepcke’s Aspen Skiing Company.

In 1995, a group of investors led by Marriott International (Washington, DC) purchased a stake in The Ritz-Carlton Hotel Co.