Real Estate Development
We have extensive experience in conducting due diligence to support or reject proposed real estate development. We have helped determine the viability of resort, hotel, meeting and convention, and apartment developments.
- Assessment of ten resorts to determine the attractiveness of the markets for a company that owns and leases single-family and multi-family properties in resort communities.
- Study to determine if an owner of hotels in a number of markets should sell or retain the properties. Interviews were conducted with general managers of competing properties to determine their occupancy rate, the average room rate and if they rely on business or leisure travel. We also determined the economic climate of the area and the forecast for the next few years, if major employers are entering or leaving the area and if any new hotels were planned in the area.
- Survey to test the viability of a hotel near the University of Chicago. Interviews were conducted with administrators at nearby hospitals, past visitors to the University and University of Chicago department heads.
- Research to explore the viability of a resort near Lake Kissimmee, Florida. The feasibility of the development was assessed based on input from meeting planners, nature organizations and tour wholesalers. Two surveys were also conducted.