Download presentation
Presentation is loading. Please wait.
Published byCynthia Miller Modified over 8 years ago
1
The Economics of Low-Cost Lodging For the California Coastal Commission on March 13, 2015 By Maurice Robinson, ISHC, CRE, ASA Maurice Robinson & Associates LLC
2
Hotel Ground Lease Experience in California Since 2000 Source: Maurice Robinson & Associates engagements HOTELS
3
National Park Concession Experience Since 1992 Source: Maurice Robinson & Associates engagements for the National Park Service PARKS
4
Upscale, Full-Service Hotels Built in California Since 2000 with Some Form of Subsidy SUBSIDIES Source: Maurice Robinson & Associates, STR
5
CAVALLO POINT Cavallo Point Lodge
6
ASILOMAR Asilomar Lodge – Classic Park Lodge
7
BIG SUR LODGE Big Sur Lodge – Historic Parks Lodge
8
CRYSTAL COVE Crystal Cove Cottages
9
PARKS CABIN Cabin at Samuel Taylor State Park
10
GROVER BEACH Grover Beach Lodge (proposed)
11
BRANDS Examples of Hotel Brands
12
FOUR POINTS Four Points by Sheraton (Mid-Scale, Full-Service Hotel)
13
TOWNEPLACE TownePlace Suites by Marriott (Mid-Scale, Extended-Stay Hotel)
14
MICROTEL Microtel Inn by Wyndham (Limited-Service, Economy Hotel)
15
PRIVATE LAND Economics of Low-Priced Lodging on Private Land
16
PUBLIC LAND Economics of Low-Priced Lodging on Public Land with a Ground Lease
17
Opportunities to Facilitate the Development of Low-Cost Lodging Private owners of low-cost lodging willing to accept long-term restrictions on room rates in exchange for tax benefits or cash; Private landowners willing to develop and maintain low-cost lodging, for an up-front subsidy of development costs; Public agencies with land willing to ground lease, and possibly accept below-market rent (Cities, Port & Harbor Districts); State Parks, if willing to solicit private sector development of low-cost lodging, with a relatively long concession term; Non-Profits willing to facilitate lodging development, pass through a subsidy, and then sell land with deed restriction requiring the maintenance of below-market room rates. Tools include ground leases, concessions, deed restrictions. POTENTIAL
Similar presentations
© 2024 SlidePlayer.com. Inc.
All rights reserved.