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and Valuation Services Division of TS Worldwide, LLC  \n2386 Clower Street, Suite C101 Snellville, Georgia 30078  \n(678) 639-3334  \n(678) 302-7048 FAX  \nSubmitted to:  \nPhil Roggio  \nThe City of Alton, Illinois  \n101 East 3rd Street Alton, Illinois 62002  \n(618) 463-3532  \n(618) 463-0972 FAX  \n2386 Clower Street, Suite C101 Snellville, Georgia 30078  \n(678) 639-3334  \n(678) 302-7048 FAX [www.hvs.com](www.hvs.com)  \nAtlanta Boston  \nBoulder Chicago  \nDallas/Fort Worth Denver  \nMexico City  \nMiami New York  \nNewport San Francisco Toronto Vancouver Washington Athens Buenos Aires Dubai  \nHong Kong London Madrid Mumbai New Delhi Sao Paulo Shanghai Singapore  \nSpecialists in Hotel Consulting and Appraisal Worldwide  \nApril 24, 2009  \nPhil Roggio  \nThe City of Alton, Illinois  \n101 East 3rd Street Alton, Illinois 62002  \n(618) 463-3532  \n(618) 463-0972 FAX  \nRe: Proposed Alton Hotel  \nAlton, Illinois  \nHVS Reference: 2009380010  \nDear Mr. Roggio:  \nPursuant to your request, we herewith submit our feasibility study pertaining to the above-captioned property. We have inspected the real estate and analyzed the hotel market conditions in the Alton, Illinois area. We have studied the proposed project, and the results of our fieldwork and analysis are presented in this report. We have also reviewed the proposed improvements for this site. Our report was prepared in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP), as provided by the Appraisal Foundation.  \nWe hereby certify that we have no undisclosed interest in the property, and our employment and compensation are not contingent upon our findings. This study is subject to the comments made throughout this report and to all assumptions and limiting conditions set forth herein.  \nSincerely,  \nTS Worldwide, LLC  \nMichael Brophy, Vice President  \n[mbrophy@hvs.com](mbrophy@hvs.com),(678) 628-6577  \nRod Clough, MAI, Managing Director  \n[rclough@hvs.com](rclough@hvs.com),(214) 629-1136  \nTable of Contents  \nSection  \nTitle  \n1 Executive Summary  \n2 Description of the Site and Neighborhood  \n3 Market Area Analysis  \n4 Supply and Demand Analysis  \n5 Description of the Proposed Project  \n6 Projection of Occupancy and Average Rate  \n7 Projection of Income and Expense  \n8 Feasibility Analysis  \n9 Statement of Assumptions and Limiting Conditions  \n10 Certification  \nAddenda  \nExplanation of the Penetration Analysis  \nExplanation of the Simultaneous Valuation Formula  \nQualifications  \n1. Executive Summary  \nSubject of the Feasibility Study  \nThe subject of the feasibility study is a proposed hotel that will be constructed on a yet to be determined site in Downtown Alton, Illinois. We have considered two scenarios in this study; the first scenario includes a standalone hotel and the second scenario includes a hotel and adjacent conference center. The hotel is expected to be affiliated with a nationally recognized brand; we have suggested two possible franchises. We have assumed an opening date for the property of April 1, 2011 and have recommended that it include 110 rooms, a lounge, a breakfast dining area, an indoor pool, an indoor whirlpool, an exercise room, a business center, a market pantry, vending areas, and a guest laundry room. Under the hotel-only scenario, the facility would include 6,000 square feet of meeting space. The hotel and conference center would include 12,000 square feet of meeting space. The hotel should also feature all necessary back-of-the-house space.  \nThe purpose of this report is to determine the market demand and feasibility of two separate development scenarios in the Downtown Alton neighborhood: a hotel or a hotel with an adjacent conference center. After researching and analyzing the market, we are recommending the optimal characteristics for these facilities, including gue","cbCaiuznXvoPqyae","https://ap.wps.com/l/cbCaiuznXvoPqyae","pdf",2731876,170,"English","# Table of Contents\n## 1 Executive Summary\n## 2 Description of the Site and Neighborhood\n## 3 Market Area Analysis\n## 4 Supply and Demand Analysis\n## 5 Description of the Proposed Project\n## 6 Projection of Occupancy and Average Rate\n## 7 Projection of Income and Expense\n## 8 Feasibility Analysis\n## 9 Statement of Assumptions and Limiting Conditions\n## 10 Certification\n## Addenda\n## Explanation of the Penetration Analysis\n## Explanation of the Simultaneous Valuation Formula\n## Qualifications","[{\"question\":\"What are the two development scenarios evaluated in the feasibility study?\",\"answer\":\"The study considers (1) a standalone hotel scenario and (2) a hotel with an adjacent conference center scenario.\"},{\"question\":\"What facility characteristics does the report assume for the proposed hotel?\",\"answer\":\"It assumes opening on April 1, 2011 with 110 rooms, a lounge, breakfast dining, an indoor pool and whirlpool, an exercise room, a business center, market pantry, vending areas, and a guest laundry room.\"},{\"question\":\"What standards govern the preparation of the feasibility study?\",\"answer\":\"The report was prepared in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP), as provided by the Appraisal Foundation.\"}]","Proposed Alton Hotel - Feasibility Study | PDF",1791839180,59]