Wyvern Hotel
Transcripción
Wyvern Hotel
Wyvern Hotel Punta Gorda, Florida Confidential Investment Opportunity Wyvern Hotel :: Punta Gorda, Florida Investment Overview Property Overview As exclusive agent, the CB Richard Ellis Hotel Group is pleased to present the opportunity to invest in the new upscale Wyvern Hotel, a 63-room independent boutique hotel on Charlotte Harbor/Punta Gorda, FL (the “Property” or “Hotel”), www.thewyvernhotel.com. This unique full-service boutique hotel opened in December 2008. The property immediately began penetrating the coastal market and will outperform its competitive set for many years to come. Guestroom Types Ownership seeks either a sale or a partnership co-investment in order to share the risks and upside of the maturation phase of the development. Potentially assumable financing adds tremendous value to the investment. Balance: $7.0; Term: 15 years; Rate: Prime Rate less 0.5% (adjusts every 5 years); Amortization: 20 years. Type Number of Rooms Superior King 38 Deluxe King 13 Double Double 8 Handicap Accessible 3 Harbor Suite 1 Total Guestrooms 63 Construction Date: December 2008 Site Area: ±0.7 acres Food & Beverage: Lulu’s Restaurant; seats 65 guests; open for breakfast, lunch and dinner Meeting Facilities: One meeting room (500 SF) Guest Amenities: Lush rooftop pool/lounge (capacity of 145), fitness center, concierge, meeting services (capacity of 100) Parking: 46 surface parking spaces surrounding the Hotel Location • • • • Located in the village of Punta Gorda with views of Charlotte Harbor, the property is positioned in the luxury boutique segment. It is clearly the finest property in the trading area. Amenities of the property include dramatically oversized guest rooms (450 SF) an upscale restaurant (Lulu’s) which was immediately successful, a rooftop pool and nightclub, fitness center and meeting space to accommodate up to 100. Punta Gorda is roughly 30 miles north of Fort Myers/Sanibel and 31 miles northwest of Gasparilla/Boca Grande and boasts all of the leisure attractions of the Gulf Coast of South Florida. Punta Gorda is located near Sanibel and Captiva, where the old Florida lifestyle of horse farms, cattle ranches, farms and citrus groves remain in the rural areas of the County yet only minutes from sophisticated attractions. Investment Highlights • While the Wyvern is a new property in ramp-up phase, it is already out-performing its market by a wide margin. • Lulu’s, the outstanding in-house restaurant, was an immediate success and is making significant contribution to cash flow. • The Wyvern is clearly superior to its competitors. With oversized guest rooms, luxury finishes and abundant amenities, the Hotel provides a competitive advantage and the ability to seek business from a broad range of individual and group sources. • Advantageous assumable financing adds value for at least five years. • Maturation of property’s revenue and NOI base will allow for ample debt-service coverage in 2010. • Strong balance-sheet venture partner may potentially invest in equity of the partnership as an alternative to a fee simple share. Market Highlights • • Punta Gorda is part of the Gulf Coast of south Florida and as such is a perennial tourist destination. Golf, beaches, fishing, the arts and shopping attract guests to the area. The Florida South Central segment has been running occupancy of approximately 46.7% (T-12 12.09) at a rate of $100.79, while the Wyvern is estimated at 39.6% at $108.48. On a running three month period, the Wyvern is penetrating occupancy at 107.3%, ADR at 125.5% and RevPAR at 108.48%. W y vern Hotel :: Punta Gorda, Florida Property Performance Projected Operating Performance $ in thousands 2010 2011 2012 2013 2014 46.2% 52.7% 56.3% 60.1% 63.3% $106.68 $118.51 $124.43 $130.67 $134.55 $70.05 $78.53 $85.17 Property Occupancy Property ADR Property RevPAR $49.24 $62.45 Room Revenue $1,132 $1,435 $1,612 $1,811 $1,958 Total Revenue $2,722 $3,115 $3,344 $3,597 $3,781 $328 $712 $905 $1,119 $1,275 12.0% 22.9% 27.1% 31.1% 33.7% Gross Operating Profit (GOP)1 % of Total Revenue Net Operating Income (NOI) $84 $487 $671 $875 $1,024 % of Total Revenue 3.1% 15.7% 20.1% 24.3% 27.1% Source: CBRE / Wyvern Projections 1 GOP includes all departmental revenues and expenses, as well as undistributed expenses and management fees - which are split between A&G and F&B. Competitive Map Gorda, FL Wyvern Hotel - Punta Comparables 55 33 22 66 BLVD PEACHLAND PEACHLAND BLVD BLVD BLVD PEACHLAND PEACHLAND PEACHLAND BLVD SANDHILL SANDHILL BLVD BLVD SANDHILL BLVD BLVD SANDHILL LOVELAND LOVELAND BLVD BLVD LOVELAND BLVD BEACO BEA BEA CON CO CO BEA BEA BEA N DR N N CO CO DR DR DR N N DR DR Port Charlotte Charlotte Port D D D D LVVVD BBBBBLLLLVV N N N N N RRN O O O ORRR IC IC IC ICO IC PPRRRRRIC AAA APPP CA C C C C C ORLANDO ORLANDO ORLANDO BLVD BLVD ORLANDO ORLANDO ORLANDO BLVD BLVD BLVD BLVD Harold Avenue Ballfields And Ctr Harold Avenue Ballfields And Ctr HaroldAvenue AvenueBallfields BallfieldsAnd AndCtr Ctr Harold Harold Avenue Ballfields And Ctr Harold Avenue Ballfields And Ctr Kings Kings Gate Kings Gate Kings Gate Kings Gate KingsGate Gate Country Club Country CountryClub Club Club Country Country Country RAMPART BLVD BLVD RAMPART RAMPART BLVD BLVD RAMPART RAMPART RAMPART BLVD BLVD MIDWAY BLVD MIDWAY MIDWAY BLVD BLVD MIDWAY BLVD H H H H A A HA A RRRRB A AR BBB O O BO O OR RRRR BBBL BBBLLLLV VVV D VD D D D Mapleleaf Mapleleaf Mapleleaf Mapleleaf Mapleleaf Mapleleaf Estates And Cc Estates EstatesAnd And Cc AndCc Cc Estates Estates Estates Port Charlotte PortCharlotte Charlotte Port Charlotte Port Charlotte Port Charlotte Port Golf And Cc Golf And Cc GolfAnd AndCc Cc Golf Golf And Cc Golf And Cc ABANDONED ABANDONED COUNTY ABANDONED COUNTY COUNTY LANDFILL LANDFILL ABANDONED LANDFILL RD ABANDONED ABANDONED COUNTY RD COUNTY COUNTY LANDFILL LANDFILL RD RD C C C O CO O OU U U UN N N NTTTTYYY YH H H HW W W WYYY Y 777 7666 6999 9 CO CO CONW NW NWAY AY BLV BLVD AY BLV BLV BLV D D BEACON BEACON BEACON DR DR BEACON BEACON DR BEACON DR DR DR OLEAN BLVD OLEAN BLVD BLVD OLEAN BLVD OLEAN OLEAN BLVD Comparables 1. Best Western Waterfront ELMIRA BLVD BLVD ELMIRA BLVD ELMIRA BLVD ELMIRA BLVD ELMIRA 44 2. Hampton Inn Port Charlotte COUNTY COUNTY HWY HWY 776 776 COUNTY HWY COUNTY HWY 776 COUNTY HWY 776 776 3. Holiday Inn Express & Suites Port Charlotte Charlotte Charlotte Harbor Harbor BB BB BA A B A AY YY A A YY YSSSH H HO H H H O OR O O O RR RR REEEEEE RRRD D D D D D 4. Microtel Inn & Suites Port Charlotte COUNTY 776A 776A COUNTY 776A HWY 776A HWY HWY COUNTY HWY 776A HWY HWY 776A EDGEWATER EDGEWATER DR DR EDGEWATER DR EDGEWATER DR EDGEWATER DR 5. Country Inn & Suites Port Charlotte 6. La Quinta Inn & Suites Port Charlotte 7. Four Points Punta Gorda Harborside Peace Peace River River Wyvern Hotel - Punta Gorda, FL 77 11 © 2010 CB Richard Ellis, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. All logos displayed on this map are the property of their respective owners, used solely to indicate that businesses associated with those marks are located in buildings displayed on the map. All Rights Reserved. Sources: CBRE Mapping Services (877) 580-4674; Claritas, Inc/GDT. MapFiles\Work2010\209533_Fl_MA_cam.wor 1/26/2010 Punta Punta Gorda Gorda Solana Solana Distance Map Ocala National Forest Ocala National Forest OcalaNational NationalForest Forest Ocala Ocala National Forest Ocala National Forest Samsula-Spruce Creek Creek Samsula-Spruce Regional Map De De Bary Bary Lecanto Lecanto Gulf Gulf of of Mexico Mexico Atlantic Atlantic Ocean Ocean Orlando : ORLANDOINTL INTL ORLANDO ORLANDO INTL INTL ORLANDO INTL ORLANDO ORLANDO INTL Winter Haven Haven Winter : Tampa 100M Palm Bay Bay Palm 75M Tampa Tampa Tampa Tampa Tampa Tampa Bay Bay Bay 50M 25M Port Port Charlotte Charlotte Port St. St. Lucie Lucie Port Wyvern Hotel - Punta Gorda, FL Punta Punta Gorda Gorda Lake Lake Lake Lake Lake Okeechobee Okeechobee Okeechobee Okeechobee Punta Gorda Gorda Punta 25M : PALMBEACH BEACHINTL INTL PALM BEACH INTL PALM BEACH INTL PALM BEACH INTL PALM PALM Lehigh Lehigh Acres Acres : SOUTHWESTFLORIDA FLORIDAINTL INTL SOUTHWEST FLORIDA INTL SOUTHWEST FLORIDA INTL SOUTHWEST FLORIDA INTL SOUTHWEST 50M 75M Loxahatchee Loxahatchee Loxahatchee Loxahatchee Loxahatchee Loxahatchee Nwr Nwr Nwr Nwr Nwr Nwr Fort Myers : Cooper City City Cooper Naples : MIAMIINTL INTL MIAMI INTL MIAMI MIAMI INTL 100M Everglades Everglades Everglades Everglades Everglades Everglades National Park National NationalPark Park Park National National National Miami Homestead Homestead EXCLUSIVE FINANCIAL ADVISOR Miles KM 25 40 © 2010 CB Richard Ellis, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. All logos displayed on this map are the property of their respective owners, used solely to indicate that businesses associated with those marks are located in buildings displayed on the map. All Rights Reserved. Sources: CBRE Mapping Services (877) 580-4674; Claritas, Inc/GDT. MapFiles\Work2010\209533_Fl_MA_cam.wor 1/25/2010 33 Arch Street, 28th Floor Boston, MA 02110 Tel: 617.912.7000 Fax: 617.912.7001 www.cbrehotels.com Dave McElroy 617.912.7030 [email protected] Robert Tayler 305.381.6447 [email protected] Scott Hutchinson 617.912.7089 [email protected] Lisa Zaranek 407.839.3107 [email protected] © 2010 CB Richard Ellis Limited, Real Estate Brokerage. The information set out herein (the “Information”) is intended for informational purposes only. CBRE has not verified the Information and does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability of any kind in connection with the Information and the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE.