HomeMy WebLinkAboutCT 03-02; CARLSBAD RANCH PLANNING AREA 5; FEASIBILITY ANALYSIS; 2003-03-05I
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INTERNATIONAL
Prepared by:
HVS International
Division of M&R Valuation Services, Inc.
116 New Montgomery Street, Suite 620
San Francisco, California 94105
( 415) 896-0868
(415) 896-0516 FAX
HVSinternational.com
Submitted to:
Mr. Timothy J. Stripe
Co-President
Grand Pacific Resorts
5900 Pasteur Court, Suite 200
Carlsbad, California 92008
(760) 431-8500
(760) 431-4580 FAX
tstripe@grandpacificresorts.com
Proposed Legoland Hotel
Carlsbad, California
I IIVS I INTERNATIONAL
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116 New Montgomery Street
Suite 620
San Francisco, California 94105
415-896-0868
415-896-0516 FAX
San Francisco
New York
London
Miami
Vancouver
Boulder
Mexico City
New Delhi
Singapore
Sao Paulo
Specialists in Hotel Consulting
and Appraisal Worldwide
Mr. Timothy J. Stripe
Co-President
Grand Pacific Resorts
March 5, 2003
5900 Pasteur Court, Suite 200
Carlsbad, California 92008
(760) 431-8500
(760) 431-4580 FAX
tstripe@grandpacificresorts.com
Dear Mr. Stripe:
Re: Proposed Legoland Hotel
Carlsbad, California
HVS Reference Number: 2003040049
We understand that you are proposing to develop a hotel and timeshare
project on a 56-acre site adjacent to Legoland California. When the project
will be completely built out, 350 of the units will be hotel rooms and the other
350 units will be timeshare units. The hotel improvements will be built in
phases and are expected to be constructed and operated consistent with the
three-star Mobil Guide standard and three-diamond AAA rating.
In 2000 and 2002, HVS International prepared market studies and forecasts
for Grand Pacific Resorts of income and expense for a 350-hotel on the site
and recommended the improvements be constructed in three phases in order
to be effectively absorbed. In 1998, HVS International prepared a land
valuation for the same site for Carlsbad Estate Holdings, that considered
proposed hotel improvements of 400 rooms and, alternatively, 700 rooms.
According to our recent conversations, we understand that during the
approval process with the City of Carlsbad for your proposed development of
350 hotel rooms and 350 timeshare units, the city of Carlsbad may have a
preference that all of the 700 units be constructed as hotel units. We also
understand that an 18-hole golf course adjacent to your site will be developed
as a municipal course and will not be controlled by the proposed hotel.
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1. Site Attributes
In response to the city's preference, HVS International was engaged by Grand
Pacific Resort to prepare a concise analysis examining the feasibility or
infeasibility of a 700-room hotel, without its own golf course, on your site and
comment on the appropriate level of rating and service for the proposed
facilities. This letter sets forth a summary of our findings.
Our analysis of the development potential for 700 hotel rooms on the subject
site focused on four issues:
1. The first issue is the attributes of the site with regards to hotel
development;
2. The second issue is a commentary on the required ancillary facilities
for a large-scale hotel property;
3. The third issue is a discussion of the current hotel supply in the
Carlsbad market;
4. The concluding issue is a "big picture" review of the feasibility of a
proposed hotel on the site.
An analysis of a hotel's potential feasibility begins with a review of the site's
attributes and locational characteristics.1 Among the factors that impact the
viability of a hotel are the site's topography and physical attributes, access
and visibility, zoning restrictions, and surrounding uses. These factors affect
the potential density of development and the optimal type and quality level
of the proposed improvements. Over the past several years, HVS
International associates have evaluated the site adjacent to Legoland. While
the site is well suited for hotel development, it has several features that affect
the optimal type and quality level of any proposed hotel improvements.
The subject site is irregular in shape and subject to notable changes in
elevation. While there are some view corridors to the Pacific Ocean, these
occur only in limited parts of the site and could not be taken advantage of by
most of the proposed improvements due to the three-story height limit. The
overall ambience of the site will have to rely on extensive on-site landscaping
and attractive buildings and extensive amenities, rather than any ocean
orientation or other natural features of the property. This will be all the more
critical because the surrounding uses and improvements, including a
municipal water tank, the Palomar airport, and Legoland, impose a number
of noise and visual nuisances that detract from developing a high-rated hotel
1 Stephen Rushmore, MAI, and Erich Baum. Hotel and Motels: Valuations and Market Studies.
Appraisal Institute 2001, p. 25.
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2. Ancillary Facilities
and Infrastructure
on the site. High-rated properties, such as the Four Seasons Aviara and La
Costa Resort, require a sense of seclusion from obtrusive environmental
factors that the subject site does not enjoy. Individual travelers and group
meeting attendees who are paying high rates expect a property that is free of
distractions from "the outside world."
The proximity of the site to Legoland, however, does support its potential
development as a hotel that would appeal to visitors that regard Legoland as
the purpose of their trip. By orienting the property and its design as a
complementary development of Legoland, a potential development on the
site could convert what would be perceived as nuisances into benefits. The
proximity to Legoland becomes the appeal rather than the distraction. It is the
opinion of HVS International that the location and orientation of a hotel
adjacent to Legoland would complement a three-star facility rather than a
four-star facility.
Generally, large-scale hotels and resorts rooms rely significantly on group
meeting business. Most of the properties with 700 guestrooms or more that
are being developed are in established resort or convention locations. These ·
properties are designed with substantial meeting space (sometimes 75 to 100
square feet per guestroom), a spa, extensive guest services, two or more
restaurants, extensive outdoor catering locations, and so forth. Because a 700-
room hotel at the subject site would have to rely heavily on group business,
the facilities, infrastructure, and parking would require substantial
investment.
In addition, group meeting guests are not necessarily compatible with leisure
guests. Legoland is an attraction that appeals to families with children under
12 years old. Accommodating high-end corporate groups (which will pay the
high rates) and families with young children at the same time is a challenge
most operators would rather not take.
Establishing a successful group meeting destination at the subject site could
take years. A 700-room property, unless it is a headquarters hotel for a major
urban convention center, could take over five years to achieve stabilized
occupancy. If the property on the subject site did not have a full range of
facilities, including a dedicated golf course, the main attraction would be
Legoland. While Legoland is an appealing demand generator for families and
leisure groups, it is not an attraction that could strongly compete with other
existing properties in the San Diego area. Even with a golf course, the
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3. Hotel Supply
Stratification
4. Feasibility Issues
competition for a four-to five-star property is fierce and will increase with the
building of new resorts in Arizona. Successful four-star large-scale
developments in California have either had dedicated golf or oceanfront
orientations.
Carlsbad, as a destination market, is still maturing. The La Costa Resort
helped to establish the destination from the 1950s to the 1970s. Concurrent
with that property's decline in the 1990s, the Four Seasons Aviara Resort
revived interest in Carlsbad. This resort, which now enjoys one of the highest
rates in the San Diego area, could not have been developed without its
supporting land uses. Consistent with many resort development models, the
lodging and golf components of Aviara were built to sell real estate. Home
sales and timeshare sales provide the bulk of the return on the development
and effectively "subsidized" the hotel construction. The lodging component
itself took many years to open, reflecting a long troubled development
history.
The purchase and renovation of La Costa by KSL and their recent
announcement to expand the property bode well for the destination.
However, between Aviara and an expanded La Costa, successful absorption
of an additional 700 rooms on the subject site without a dedicated golf course,
without uniform scenic advantages, and with the challenges of the site
nuisances, is a business risk that would deter hotel developers, investors, and
financiers.
Carlsbad could benefit and continue to mature from a wide range of lodging
product. The area contains approximately 1,300 limited-service hotel rooms
(45% of supply), 306 focused-service hotel rooms (11 % of supply), 227
extended-stay rooms (8% of supply), 228 full-service hotel rooms (8% of
supply), and 807 high-end resort rooms (28% ). While the focused service and
extended stay properties are relatively new, the full-service hotels and many
of the limited service products were built prior to 1984. A new mid-rated, full-
service hotel would have a greater chance of success than a high-rated hotel
and would serve to promote the area to new demand sources.
Although hotels often serve as public gathering places and are associated
with vacations and group meetings, they are foremost a business. Like any
other business venture, the entrepreneur or developer undertakes the project
for an economic return. The risks of developing a hotel are not only in the
timing of the market but the scope of the investment. While California boasts
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a number of large hotels, the few that are located in suburban or resort
settings have long and volatile operating histories or, in the case of the more
recently developed properties, have had long and volatile development
challenges. Developing a 700-room hotel is expensive and risky. HVS
International undertakes an annual hotel development cost survey. Based on
the research for this survey and our review of assignments for proposed
hotels, we estimate that the turnkey cost to develop a four-star hotel on the
subject site would be no less than $350,000 per key (without land).
Multiplying this amount by the number of rooms yields an estimated
construction cost of $245,000,000 without land (which can add 10% to 20% to
the development budget. If the developer wanted a 10% return on just the
construction costs of the project, the net operating income (before debt
service) would have to be $25,000,000. The most recent HOST report from STR
reports that large full-service properties currently generate net operating
income of approximately 27% of total property revenue. If a $25,000,000 net
operating income represents 27% of total revenue, then the property would
have to generate $92,600,000 in total revenue. In a property of this size,
approximately 60% of that revenue would have to come from room rentals.
Sixty percent of total revenue equates to $55,600,000, which would mean that
at the stabilized market occupancy of 62%, the feasible average daily room
rate would need to be $350. According to a recent Smith Travel Research
trend report on a combination of large four-star properties in popular
destinations and the luxury properties in Carlsbad, the average rate for 2002
was roundly $255. The combination of properties that achieved this average
rate are a number of established resorts, including La Costa and the Four
Seasons Aviara, the Ritz-Carlton Laguna Niguel, and La Quinta. These
properties represent the highest level of resort experience, enjoy superior
sites, and required years of operations to achieve their performance. A
competitive property on the subject site would have to discount the rate
significantly to compete with the existing supply.
With such formidable competition, financing such a project today would be
nearly impossible without a substantial equity contribution and exceptional
sponsors. The economic returns for a 700-room ground-up development on
the subject site do not support its construction. Even if developed in phases, a
property with this total number of rooms would be a risky economic venture
for the foreseeable future.
HVS International has performed a number of analyses for hotel
development on the subject site. It is our opinion that the current market
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(now and in the foreseeable future) for hotel investments does not support a
four-to five-star 700-room property. Developing a mid-market, full-service
hotel and the associated timeshare units will continue to benefit Carlsbad,
which is a maturing destination, and provide a complementary facility for
Legoland. The market cannot support a third hotel that competes directly
with the existing supply and potential expansion of La Costa. With our
research, analyses, and extensive industry experience, it is our opinion that a
well-designed and -operated three-star property will more likely be successful
for the site.
ES/SRM/leg
Sincerely,
HVS International
~!
Elaine Sahlins
Director
Suzanne R. Mellen, CRE, MAI
Managing Director
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HVS International, San Francisco, California
INTERNATIONAL
Elaine Sahlins
Employment
1997 to present
1989 to 1997
1987 to 1989
1984 to 1985
1983 to 1984
Professional Affiliations
Education
HVS INTERNATIONAL
San Francisco, California
Director
Qualifications of Elaine Sahlins
(Hotel-Motel Valuations, Market Studies)
BANK OF AMERICA
San Francisco, California
Review Appraiser
(Hotel-Motel, Casino, and Commercial Real Estate
Valuations, Appraisal Management)
VMS REALTY PARTNERS
Chicago, Illinois
Senior Acquisition Analyst
(Hotel-Resort Market Studies, Due Diligence, Operation
Studies, Investment Analysis)
JUDSON HOTELS
New York, New York
Credit/Collection Manager/Paymaster
(Credit Policies and Procedures, Payroll Administration)
PIERRE HOTEL
New York, New York
Guest History Supervisor
(Marketing and MIS Administration)
Certified General Real Estate Appraiser -
States of California, Louisiana and Nevada
A.B., Barnard College, Columbia University
M.P.S., School of Hotel Administration,
Cornell University
Professional Coursework -Appraisal Institute
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HVS International, San Francisco, California Qualifications of Elaine Sahlins
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PARTIAL LIST OF HOTELS, MOTELS, AND CASINOS APPRAISED OR EVALUATED
BY ELAINE SAHLINS
ALASKA
Cusack's Ramada Inn, Anchorage
Hawthorne Suites, Anchorage
Westmark Hotel, Anchorage
Best Western Bidarka inn, Homer
ALABAMA
Fairfield Inn, Birmingham
Fairfield Inn, Montgomery
ARIZONA
Best Western, Flagstaff
E-Z Metro Center, Phoenix
Scottsdale Princess Resort, Scottsdale
Marriott Hotel & Starr Pass Golf Course,
Proposed, Tucson
CALIFORNIA
Fairfield Inn, Baltimore
Holiday Inn Select, Beverly Hills
Renaissance Hotel, Beverly Hills
Bodega Bay Lodge, Bodega Bay
Embassy Suites, Brea
Fairfield Inn, Buena Park
Embassy Suites, Emeryville
Campbell Inn, Campbell
Courtyard by Marriott, Campbell
Hilton Garden Inn, Campbell
Hilton Hotel, Proposed, Campbell
Pruneyard Inn, Campbell
Carlsbad Inn Hotel, Carlsbad
Legoland Hotel, Proposed, Carlsbad
Carmel Mission Inn, Carmel
Carmel Valley Ranch, Carmel
Highlands Inn, Carmel
Pine Inn Hotel & Retail, Carmel
Bernardus Lodge, Carmel Valley
Doubletree Hotel, Cathedral City
Sheraton Hotel, Concord
The Trees Inn, Concord
Hilton Garden Inn, Proposed, Corte
Madera
Red Lion Hotel, Costa Mesa
Boutique Hotel, Proposed, Cupertino
Singing Hills Ranch, El Cajon
Best Western, El Toro
Days inn Emeryville, Emeryville
Sheraton Four Points, Emeryville
Woodfin Suite Hotel, Emeryville
Holiday Inn, Foster City
Marriott Hotel, Fremont
Blackstone Plaza Inn, Fresno
Chateau Inn, Fresno
Piccadilly Inn Airport, Fresno
Piccadilly Inn Shaw, Fresno
Piccadilly Inn University, Fresno
Proposed Hotel, Gilroy
Proposed Motel 6, Gilroy
Half Moon Bay Lodge, Half Moon Bay
Ritz-Carlton Hotel, Half Moon Bay
Best Western Dry Creek Inn, Healdsburg
Casa de Fruta, Hollister
Renaissance Hollywood Hotel
Days Inn-LAX, Inglewood
Lafayette Park Hotel, Lafayette
Embassy Suites La Jolla
Hyatt Hotel, La Jolla
Scripps Inn, La Jolla
Resort at Squaw Creek, Lake Tahoe
Marriott Rancho Las Palmas, Las Palmas
Courtyard by Marriott, Livermore
Hilton Garden Inn, Livermore
Springtown Motel, Livermore
West Coast Hotel & Marina, Long Beach
Courtyard by Marriott, Proposed, Los
Altos
Los Altos Residence Inn, Proposed, Los
Altos
Beverly Hills Residence Inn, Los Angeles
Crowne Plaza-LAX
Hilton-LAX, Los Angeles
Le Montrose, Los Angeles
Holiday inn, Marina Del Rey
Marriott, Marina Del Rey
Stanford Park Hotel, Menlo Park
Candlewood Hotel, Milpitas
Hilton Garden Inn Hotel, Milpitas
Larkspur/Hilton Garden, Milpitas
Miramar Resort, Montecito
Monterey Plaza Hotel, Monterey
Napa Resort Partners, L.L.C., Napa
W Suites Hotel, Proposed Newark
Hilton Garden Inn, Proposed, Novato
Jack London Inn, Oakland
Resort at Squaw Creek, Olympic Valley
Residence Inn, Ontario
Hotel, Proposed, Pacifica
Stanford Park Hotel, Palo Alto
Stanford Terrace Inn, Palo Alto
Hacienda Hotel, Patterson
Hotel, Proposed, Patterson
Hotel, Proposed, Pinole
Fairfield Inn, Placentia
Embassy Suites, Pleasant Hill
Candlewood Hotel, Pleasanton
Pleasanton Hilton Hotel, Pleasanton
Sierra Suites, Pleasanton
Summerfield Suites, Pleasanton
Portland Westin Hotel, Portland
Holiday Inn, Rancho Bernardo
Comfort Inn Rancho Cordova, Rancho
Cordova
Hallmark Suites Hotel, Rancho Cordova
Westin Mission Hills, Rancho Mirage
Microtel Inn & Suites, Redding
Hotel & Convention Center, Proposed,
Roseville
Hyatt Regency Hotel, Sacramento
Candlewood Hotel, Sacramento
Prop. Candlewood Hotel, Sacramento
Hilton Garden Inn, Sacramento
Bay Club Hotel & Marina, San Diego
Carmel Highland Doubletree, San Diego
Comfort Suites, San Diego
Harbour Lights, San Diego
Holiday Inn Miramar, San Diego
Homewood Suites, Proposed, San Diego
Pacific Terrace Inn, San Diego
Radisson Suite Hotel, San Diego
The Clift Hotel, San Francisco
Comfort Inn by the Bay, San Francisco
Fairmont Hotel, San Francisco
Haslett Warehouse, Proposed, San
Francisco
Hotel, Proposed, San Francisco
Hotel Rex, San Francisco
Kensington Park Hotel, San Francisco
Mission/Steuart Hotel, San Francisco
Palomar Hotel, San Francisco
Powell West Hotel, San Francisco
Radisson Hotel at Fisherman's Wharf, San
Francisco
Richilieu Hotel, San Francisco
Savoy Hotel, San Francisco
Sir Francis Drake Hotel, San Francisco
St. Regis Hotel, San Francisco
Tuscan Inn, San Francisco
Westin St. Francis Hotel, San Francisco
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Whitehall Inn, San Francisco
Radisson Plaza Hotel Airport, San
Francisco
Four Hundred-Room Hotel Site, San Jose
San Jose Fairmont, San Jose
Three Hundred-Room Hotel Site, San Jose
Twin Oaks Golf Course, San Marcos
Extended Stay Hotel, Proposed, San
Mateo
Sierra Suites Hotel, Proposed
Miramar Hotel, Santa Barbara
Santa Barbara Club Resort, Santa Barbara
Days Inn Hotel Seaside, Seaside
Holiday Inn, South San Francisco
Embassy Suites, Santa Clara
Hampton Inn, Santa Clarita
Residence Inn, Santa Clarita
Sheraton Miramar Hotel, Santa Monica
MacArthur Place, Sonoma
Ramada Inn Airport North, South San
Francisco
Travelodge San Francisco Airport North,
South San Francisco
Ramada Inn, Retail, Apts., West
Hollywood
Golden Pheasant, Willows
Microtel Inn & Suites, Willows
COLORADO
Hyatt Regency Beavercreek, Avon
Old Towne Guesthouse Inn, Colorado
Springs
Denver Embassy Suites, Denver
Silvertree Hotel, Snowmass
Wildwood Lodge, Snowmass
Days Inn at Vail, Vail
CONNECTICUT
Stamford Tara Hotel, Stamford
DISTRICT OF COLUMBIA
Comfort Inn, Washington, D.C.
FLORIDA
Boca Raton Hotel and Resort, Boca Raton
Holiday Inn, Ft. Lauderdale
Pier 66 Hotel & Marina, Ft. Lauderdale
Fairfield Inn, Gainesville
Cheeca Lodge & Spa, lslamorada
Proposed Resort, Key Biscayne
Hyatt Resort, Key West
Howard Johnson Inn, Kissimmee
Knights Inn-Kissimmee, Kissimmee
Ramada Inn-Jacksonville, Jacksonville
Fairfield Inn, Miami
Fairfield Inn, Orlando
Fairfield Inn, Orlando South
Best Western, Orlando
Days Inn, Orlando
Orlando Twin Towers, Orlando
Comfort Inn, Pensacola
GEORGIA
Fairfield Inn, Atlanta
Fairfield Inn, Atlanta-Gwinnett
Fairfield Inn, Atlanta-Northlake
Fairfield Inn, Atlanta-Northwest
Fairfield Inn, Atlanta-Peachtree
Fairfield Inn, Atlanta-Southlake
Fairfield Inn, Savannah
HAWAII
Kahala Mandarin Oriental Hotel, Honolulu
Westin Kauai, Kalapaki Beach, Lihue
IDAHO
Resort Development, Coeur d'Alene
Super 8, Coeur d'Alene
Fairfield Inn & Suites, Proposed, Idaho
Falls
Super 8, Lewiston
Motels of America, Lewiston
Super 8, Ponderay
ILLINOIS
Jumers Chateau, Bloomington
Hyatt at University Village, Chicago
Westin Hotel, Chicago
Fairfield Inn, Chicago/Lansing
Jumers Continental Inn, Galesburg
Nordic Hills Resort & Conference Center,
Itasca
Qualifications of Elaine Sahlins
Fairfield Inn, Peoria
Jumers Castle, Peoria
Fairfield Inn, Rockford
Doubletree Hotel -North Shore, Skokie
Jumers Castle Lodge, Urbana
INDIANA
Fairfield Inn, Bloomington
Fairfield Inn, Fort Wayne
Fairfield Inn, Indianapolis
Four Points Sheraton, Indianapolis
Omni Severin Hotel, Indianapolis
IOWA
Jumers Castle Lodge, Bettendorf
Fairfield Inn, Des Moines
KANSAS
Fairfield Inn, Kansas City
Fairfield Inn, Kansas City West
LOUISIANA
Boomtown New Orleans, Harvey
Days Inn, New Orleans
Fairmont Hotel, New Orleans
Maison Blanche Development, Proposed,
New Orleans
MASSACHUSETTS
Copley Plaza Hotel, Boston
Sheraton Tara Lexington, Lexington
Proposed Sierra Suites Hotel, Waltham
MICHIGAN
Fairfield Inn, Kalamazoo
MISSISSIPPI
Boomtown Biloxi, Biloxi
Treasure Bay Hotel & Casino, Biloxi
University Inn, Oxford
Hotel, Proposed, Tunica
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MISSOURI
RiverFront Station, St. Charles
Adam's Mark Hotel, St. Louis
MONTANA
Sheraton Hotel, Billings
Best Western Colonial Hotel, Helena
Holiday Inn-Parkside, Missoula
NEW JERSEY
Holiday Inn, Jamesburg
Courtyard by Marriott Princeton, Princeton
NEVADA
Ormsby House, Carson City
Crystal Park Casino Hotel, Crystal City
Gem Casino, Henderson
Jokers Wild Casino, Henderson
Tom's Sunset Casino, Henderson
Harveys Casino Hotel, Lake Tahoe
Aladdin Hotel & Casino, Las Vegas
Boardwalk Hotel & Casino, Las Vegas
Boulder Station, Las Vegas
El Morocco Motel, Las Vegas
Eureka Saloon Casino, Las Vegas
Hacienda Casino Hotel, Las Vegas
La Concha Motel, Las Vegas
MGM Grand, Las Vegas
Monte Carlo Casino Hotel, Las Vegas
New York, New York Hotel & Casino, Las
Vegas
Palace Station, Las Vegas
Regent International Hotel & Casino, Las
Vegas
Sunset Station, Proposed, Las Vegas
Rio Hotel, Las Vegas
Santa Fe Casino Hotel, Las Vegas
Texas Station, Las Vegas
Peppermill Resort Hotel, Mesquite
Whiskey Pete's, Primm
Boomtown Casino Hotel, Reno
Holiday inn, Reno
Hotel, Proposed, Sparks
Hobey's Casino, Sun Valley
Nevada Crossing Casino, Wendover
NEW YORK
Omni Park Central Hotel, New York
Soho Hotel, Proposed, New York
NORTH CAROLINA
Fairfield Inn, Charlotte
Fairfield Inn, Charlotte-North
Fairfield Inn, Durham
Fairfield Inn, Fayettesville
Fairfield Inn, Greensboro
Fairfield Inn, Raleigh
Fairfield Inn, Wilmington
OHIO
Fairfield Inn, Cleveland
Two Hundred-Room Boutique Hotel,
Cleveland
Fairfield Inn, Columbus
Holiday Inn-Airport, Columbus
Fairfield Inn, Dayton
Fairfield Inn, Toledo
OREGON
Monarch Hotel & Convention Center,
Clackamas
Hilton Garden Inn, Proposed, Corvallis
Red Lion Inn, Gleneden
Candlewood Hotel, Hillsboro
Avalon Hotel, Portland
Avalon Restaurant & Hotel, Portland
Sunriver Resort, Portland
Execulodge, Salem
Gateway Motor Inn
Nendels Motor Inn, Springfield
SOUTH CAROLINA
Fairfield Inn, Florence
Fairfield Inn, Hilton Head
TENNESSEE
Fairfield Inn, Johnson City
Qualifications o(Elaine Sahlins
TEXAS
Amarillo Super 8 Motel, Amarillo
The Crescent Hotel, Dallas
Fairmont Hotel, Dallas
Melrose Hotel, Dallas
UTAH
Cavanaugh's Olympus Hotel, Salt Lake
City
WestCoast Olympus Hotel, Salt Lake City
Zion Park Inn & Switchback Grill, Salt Lake
City
VIRGINIA
Holiday Inn, Arlington
Sheraton Inn Coliseum
Fairfield Inn, Hampton
Richmond Holiday Inn, Richmond
Fairfield Inn, Virginia Beach
WASHINGTON
Best Western Bellevue Inn, Bellevue
Candlewood Hotel, Bellevue
Marriott Hotel, Proposed, Bellevue
Residence Inn, Bellevue
Ritz-Carlton, Proposed, Bellevue
Pony Soldier Inn, Chehalis
Homecourt All Suite Hotel, Kent
WestCoast Olympia Hotel, Olympia
Alexis Hotel, Seattle
University Plaza Motor, Seattle
WestCoast Grand Hotel on Fifth Avenue,
Seattle
West Coast Paramount, Seattle
West Coast Vance Hotel, Seattle
WestCoast Grand Hotel, Spokane
Embassy Suites, Tukwila
WISCONSIN
Fairfield Inn, Auburn Hills
Fairfield Inn, Detroit
Fairfield Inn, Detroit West
Fairfield Inn, Madison
Holiday Inn-Airport, Milwaukee
Milwaukee Marriott Hotel, Milwaukee
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Fairfield Inn, Warren
WYOMING
Executive Inn, Evanston
Super 8, Jackson
Four Seasons Resort Hotel,
Condominiums, and Fractionals,
Jackson Hole
BRITISH VIRGIN ISLANDS
Little Dix Bay, Virgin Gorda
CANADA
Trite! Hotel "Ramada" Montreal
L'Emerillon Hotel, Quebec City
U.S. VIRGIN ISLANDS
Caneel Bay Resort, St. John
Frenchman's Reef Resort, St. Thomas
Grand Palazzo Hotel, St. Thomas
EUROPE
Dordogne Resort, Proposed, France
Hanbury Manor, Great Britain
Monte Carlo Resort, Proposed, Monaco
Qualifications of Elaine Sahlins
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Qualifications of Suzanne R. Mellen, CRE, MAI
I Suzanne R. Mellen, CRE, MAI
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Employment
1985 to present
1981 to 1985
1980 to 1981
1980
1978 to 1980
1976 to 1978
1976
HVS INTERNATIONAL
San Francisco, California
Managing Director
(Hotel-Motel Valuations, Market Studies, Feasibility
Reports, and Investment Counseling)
HOSPITALITY VALUATION SERVICES
Mineola, New York
Director of Consulting and Valuation Services
(Hotel-Motel Valuations, Market Studies, Feasibility
Reports, and Investment Counseling)
MORGAN GUARANTY TRUST COMPANY
New York,-New York
Real Estate Appraiser and Consultant
(Real Estate Investment Valuation and Analysis)
LAVENTHOL & HORWATH
New York, New York
Senior Consultant
(Management Advising Services -Market and
Feasibility Studies)
HELMSLEY-SPEAR HOSPITALITY SERVICES
New York, New York
Senior Consultant
(Management Advising Services -Market and
Feasibility Studies)
WESTERN INTERNATIONAL HOTELS
The Plaza, New York City
Management Trainee
(Rooms Operations and Accounting)
HARLEY, LITTLE ASSOCIATES
Toronto, Canada
Junior Consultant
(Food Facilities Design, Market Studies)
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HVS International, San Francisco, California
INTERNATIONAL
Professional Affiliations
Qualifications of Suzanne R. Mellen, CRE, MAI
Appraisal Institute -Member (MAI)
• Board of Directors -
San Francisco Bay Area Chapter (1994, 1995)
• Education Committee Chairperson -
Northern California Chapter 11
• Workshop Committee Chairperson -
Northern California Chapter 11
• Division of Courses-National Committee
• Continuing Education Committee -
New York Committee
• Director, Real Estate Computer Show -
New York Chapter
American Society of Real Estate Counselors -
Member (CRE)
• Vice Chair -
Northern California Chapter (1994, 1995)
• Chair-
Northern California Chapter (1996)
National Association of Review Appraisers & Mortgage
Underwriters (CRA)
International Society of Hospitality Consultants -
Member (ISHC)
Cornell Hotel Society
San Francisco Board of Realtors
American Hotel and Motel Association
California Hotel and Motel Association
National Trust for Historic Preservation
Urban Land Institute
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HVS International, San Francisco, California
:l3="\~1-e=: ~v~
INTERNATIONAL
Education
State Certification
Teaching and Lecture Assignments
Qualifications of Suzanne R. Mellen, CRE, MAI
B.S., School of Hotel Administration, Cornell University
Liberal Arts Undergraduate Study-
Carnegie Mellon University
Completion of MAI course work -Appraisal Institute
New York University-School of Continuing Education
-Real Estate Division
Alaska, Arizona, California, Colorado, Hawaii,
Michigan, Nevada, Oregon, Utah, Washington, and
Wyoming
American Bar Association -Property Tax '92 -
Income Approach
American Institute of Real Estate Appraisers -
Approved Instructor -Hotel/Motel Valuations
Americas Lodging Industry Summit -Opportunities In
The Western U.S .... To Buy, To Build, To Hold
Appraisal Institute -National and International Hospitality
Markets
Appraisal Institute -San Francisco Bay Area Chapter -
Motel Valuation Case Study
California Hotel and Motel Association, 1985 Annual
Convention -Development Overview; 1995-Annual
Meeting -Capital Expenditure Requirements
Citibank, N.A. -Hotel/Motel Valuations
Cornell University -Real Estate Finance
Cornell Center for Professional Development -
Hotel Workouts
Country Hospitality Conference -
Hotel Development Challenges in the Nineties
Econo-Travel Motor Hotel Corp., Annual Financial
Seminar -Hotel Valuation
Institute of Property Taxation, 1984 Real Estate
Symposium -Simultaneous Valuation
Jeffer, Mangels, Butler & Marmara -Meet the Money,
1998, 1999, 2000
Jeffer, Mangels, Butler & Marmaro Forum -
Answers to Three of the Most Provocative Questions in
Hotel Valuation Today
Lodging Conference, 1999, 2000
National Association of Review Appraisers and
Mortgage Underwriters -
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HVS International, San Francisco, California
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INTERNATIONAL
Published Articles
The Appraisal Journal
Appraisal Review & Mortgage
Underwriting Journal
California Inntouch Magazine
The Hotel Valuation Journal
The HVS Journal
International Society of Hospitality
Consultants (ISHC)
Qualifications of Suzanne R. Mellen, CRE, MAI
Mortgage Underwriters -
Reviewing a Hotel Appraisal Report 1990
National Conference of State TaxJudges-
Valuation and the Hospitality Industry
Northwest Center for Professional Development-
1986-87 Hotel Development Seminars
NYU Hospitality Industry Investment Conference, 1991,
1992, 1993,1994, 1995
Southhampton College -
Feasibility Studies and Appraisals
UCLA Hotel Industry Investment Conference, 1995 -
2001
University of Denver -Hotel/Motel Valuation
"Simultaneous Valuation: A New Technique," April 1983
"How to Review a Hotel Appraisal," November 1989
"Value and Proper Use of Feasibility Studies,"
December 1990
"The Future of Full-Service Hotel Development,"
Winter 1995
"How Much Should I Pay For the Land?," January 1996
"Strong Rates of Return Driving Hotel Development,"
January 1998
"Hotel Cap Rates and Values-The 1998 Rollercoaster
Ride and What Lies Ahead," January 1999
"Hotel Land Values and the Ground Lease Approach,"
January 2001
"Fed Policies Stabilize Hotel Cap Rates in Uncertain
Times," January 27, 2003
"Cap Ex 2000 -A Study on Capital Expenditures in the
Hotel Industry," October 2000
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HVS International, San Francisco, California Qualifications of Suzanne R. Mellen, CRE, MAI
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INTERNATIONAL
Real Estate Finance Journal "Hotel Land Values and the Ground Lease Approach,"
Spring2001
Contributing Editor Hotel Investments Handbook, 1997
Computer Software
"Simultaneous Capitalization Software" Software for the capitalization of a variable income
stream.
Appearance as an Expert Witness Superior Court of the State of Arizona, County of
Maricopa
Superior Court of the State of California, City and County
of San Francisco
Superior Court of the State of California, County of Los
Angeles (Deposition)
Superior Court of the State of California, County of
Orange, Central Justice Center
Superior Court of the State of California, County of San
Diego, North County Branch
Superior Court of the State of California, County of San
Luis Obispo
Superior Court of Guam
Federal Tax Court, New York, New York
U.S. District Court, Eastern District of Arkansas,
Little Rock, Arkansas
U.S. District Court, Central District of California
(Deposition)
U.S. District Court, Southern District of California
U.S. District Court, Southern District of New York
U.S. District Court, Western District of Washington
at Seattle
Federal Bureau of Investigation, New York, New York
(Deposition)
U.S. Bankruptcy Court, Northern District of California
U.S. Bankruptcy Court, Eastern District of California
U.S. Bankruptcy Court, Colorado (Deposition)
U.S. Bankruptcy Court, Northern District of Texas, Dallas
Division
U.S. Bankruptcy Court, Southern District of Texas,
Houston Division
U.S. Bankruptcy Court, Utah, Salt Lake City
U.S. Bankruptcy Court, Southern District of California
County Board of Equalization of Utah County, State of
Utah
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HVS International, San Francisco, California
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INTERNATIONAL
Qualifications of Suzanne R. Mellen, CRE, MAI
Utah
American Arbitration Association, Los Angeles, CA
American Arbitration Association, San Francisco, CA
Cuyahoga County Court of Common Pleas, Cleveland,
Ohio
JAMS Arbitration, Orange, California
Judicial District Court of Bexar County, Texas 285th Judicial
District
San Mateo County Superior Court
Tax Appeal Board
Los Angeles County, California
Corttra Costa County, California
Orange County, California
San Francisco County, California
San Mateo County, California
Utah County, Utah
Washington, D.C.
Tax Appeal Court of the State of Hawaii
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HVS International, San Francisco, California Qualifications of Suzanne R. Mellen, CRE, MAI
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INTERNATIONAL
Aareal Bank AG
Acclarit Group, Inc.
Accord/BEV LP. EPAM Corporation
Aegon USA Realty Advisors, Inc.
Aetna Life Insurance Co.
Aetna Real Estate Investment
Alaska Resort Hotels Company, Inc.
Alley Associates I, Inc.
Allied Capital Advisors, Inc.
American Hotels, Inc.
American Realcorp
American Savings and Loan
Amfac Parks & Resorts
AMRESCO
Amstart Group, Inc.
Andrew Daveridge Corp.
Archon Group
ARGON, Inc.
Ashford Financial Corporation
Avalon Holdings
Avista
Bank of America
Bank Boston
The Bank of New York
Bank of Nova Scotia
Bank of San Francisco
Bank of the West
Bankers Mortgage
Bankers Trust Company
Banque Nationale de Paris
Barclay's Bank
B.B. Patel
The Beacon Companies
Bear Stearns
Beau Rivage Casino & Resort
Bendet, Fidell, Sakai & Lee
Benton Investment
Bergeson Eliopoulos, LLP
BF Hospitality
BNP Paribas
BNY Asset Solutions, LLC
Boykin Management Co.
Briarcliff Development Company
Broad, Schultz, Larson & Wineberg
Builders Bank
Burlingame Bank and Trust Comp.
Buss-Shelger Associates
Cabazon Band of Mission Indians
Caesars World Gaming
Gala Properties
California Bank & Trust
CORPORATE AND INSTITUTIONAL CLIENTS SERVED
California Federal Bank
California Department
of Transportation
Callahan PropertY Company
Campbell Creekside
Canadian Imperial Bank of
Commerce
C. A. Rickert & Associates
Carlsbad Estate Holding, Inc.
The Caryle Group
Carpenters Pension Trust for Southern
California
Carroll, Burdick, McDonough
Casa de Fruta
CASC Corporation
Case, Knowlson, Mobley, Burnett and
Luber
Central Core Corp.
Champion Development Group
Chartwell Leisure
Chase Manhattan Bank
Chase Real Estate Finance Group
Chemical Bank
CIBC World Markets
CIGNA Capital Advisors, Inc.
Citibank
Citicorp Real Estate, Inc.
City and County of San Francisco
City of Boulder, Colorado
City of Florence, Oregon
City of Marysville, California
City of Monterey, California
City of Napa Redevelopment Agency
City of San Diego, California
City of Santa Ana, California
City of Watsonville, California
Clarion Partners
Cleary, Gottlieb, Steen & Hamilton
CNL Hospitality Corporation
Coast Commercial Bank
Column Financial, Inc.
Contra Costa County
Coopers & Lybrand
Comerica Bank -California
Commercial Bank of San Francisco
Commercial Bank of Korea, Ltd.
Compass Bank
Core Development
Coudert Brothers
Country Inn & Suites
Coury Properties
Credit Lyonnais
Credit Lyonnais -First Lodging Group
Credit Suisse First Boston
Criimi Mae Services
Cupertino National Bank and Trust
Dai-lchi Kangyo Bank, Ltd.
Daimler Chrysler Capital Services
Daiwa Bank
Daniel Coker Horton & Bell, P.A.
Days Inns
DePfa Bank AG
Destination Properties
Deutsche Bank Mortgage Capital
Deutsche Banc Alex Brown
Deutsche Morgan Grenfell
Dimensions Development Company
Disney Development Company
Dollar Savings and Loan
Donaldson, Lufkin and Jenrette
Doubletree Inns
Dresdner Bank AG
Drury Inns
Duckor & Spradling
EDA, U.S. Government
E. S. Merriman & Sons
Elkor Commercial Properties
Equitable Life Assurance Society
Equitable Real Estate Investment
Management
Ervin, Cohen and Jessup
Estate of Allen E. Paulson
Estate of James Campbell
Eureka Bank
Everingham Associates
Exchange Bank
Fair Enterprises
Farallon Capital Management, Inc.
Far East National Bank
Farmers National Bank
Fidelity Federal Savings & Loan
Finova
First Bank
First Boston
First Credit Commercial Capital
Corporation
First Federal Savings and Loan
First Interstate Bank
First National Bank
First Security
First Union Securities
Forest City Development
I HVS International, San Francisco, Califprnia Qualitf.cations o[ Suzanne R. Mellen, CRE, MAI
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INTERNATIONAL I
I Fox Hotel Investors Hyatt Development Corporation Long Term Credit Bank of Japan, Ltd.
Fred Reed & Associates HYPO Securities Lovitt & Hannan, Inc.
I Fremont Investment & Loan Ian Schrager Hotels The Maher Company
Fuji Bank, Ltd. lmpac Hotel Group Marriott Hotels International
Fuji Corporate Advisory Co., Ltd. Innkeepers USA Trust Marshall, Miller & Schroeder Investments
Fullerton Redevelopment Agency Inn Ventures, Inc. Corporation
I GE Capital Real Estate lnterBank Brener Hospitality Maximum Holdings, Inc.
GECC Commercial Real Estate Inter-Continental Mayer, Brown & Platt
Geller & Company Inter-Mountain Management, Inc. McCandless Management Corporation
General Electric Capital Company International Bank of California Mellon Bank
I GMAC Commercial Mortgage Corp. International Bank of Singapore Mercury Savings and Loan
Gibraltar Savings and Loan lntracorp Developments, Ltd. Merril Lynch Global Principal Investments
Gibson, Dunn & Crutcher, LLP ISIS Hotels Midwest, Inc.
I Goldfarb & Lipman ITM Commercial Milepost Industries
Goldman Sachs ITT Sheraton Corporation Miramar Asset Management, Inc.
Graham Taylor Hospitality Group Japan Airlines Mitsubishi Ltd.
Grand Pacific Resorts JC Resorts Mitsui Trust & Banking Co., Ltd.
I Grant Williams and Dangerfield Jetter, Mangels, Butler, & Marmara M&M Development Co.
Gray, Cary, Ames & Frye Jelinek & Associates MM&M Investments, Corp.
Gray, Cary, Ware & Freidenrich J.E. Robert Company, Inc. The Money Store Commercial Mortgage,
Great Eagle Holdins Limited JMIR -Del Mar Hotel, LLC Inc.
I Greater Bay Bank John B. Coleman & Co. Monterey Bay Bank
Great Western Bank John a. Hammons Monterey Plaza Hotel Limited Partnership
Greenwich Capital Markets, Inc. John Hancock Life Insurance Morgan Guaranty Trust
Greystone Jones, Day, Reavis & Pogue Morgan Stanley & Co.
I Grubarges Inversion Hotelera J.P. Morgan Mortgage Capital Inc. Morgan Stanley Dean Witter
Gurewitz, David M. J. W. Colachis Company Morrison & Foerster
Gustin Property Group KHM Management Napa Partners
I Haligman Lattner Rubin & Fishman KSC Management National Cooperative Bank
Haynes & Boone, LLP Katzoff & Riggs Nations Credit Commercial Corp.
Hardage Suite Hotels Key Bank of New York Nations Financial Capital Corp.
Hare, Brewer & Kelley, Inc. Key Corporation Network Mortgage Services
I Haruyoshi Kanko K.K. Keyser Martin Associates, Inc. Noble House Hotels, Resorts and
Heller, Ehrman, White & McAuliffe Kimberley Clark Hideaways
Heller Real Estate Financial Services Kimpton Hotel & Restaurant Group, Inc. Nomura Asset Capital Corp.
The Heymann Group, Inc. Kwong Hing Investment Center Nomura Securities International, Inc.
I Hibernia Bank Lacera Northern Nevada Bank (NNB)
Hilton Hotel Corporation Lake County Business Outreach and Northwinds N.V.
HMG Lodging Management Response Team NS Development Co.
Hodges Ward Elliott Lankford & Associates Ny-West Development
I Holiday Inns Larkspur Hospitality Company, LLC Ocean Links Corp.
Hong Kong Bank Latham & Watkins Octavian, Inc.
Hongkong Bank Alliance Laurence Peters & Co. Olympic Hotel and Delicatessen
Host Marriott Corporation Lehman Brothers, Inc. O'Neill Hotels & Resorts I Hotel Investors Trust Leisure Sports, Inc. ORIX USA Corp.
Houlihan Lokey Howard & Zukin Lend Lease Mortgage Capital, Inc. Orrick, Herrington & Sutcliffe
Howard Johnson's Lend Lease Real Estate Investments Outlook Income Fund
I HSBC Bank USA Lennar Partners, Inc. OZ Resorts and Entertainment
Hudson Hotels Corporation Leonard, Street & Deinard The Pacific & Caribbean Hotel Group
Huntington Bank Local Federal Bank, F.S.B. The Pacific Bank
HVS Convention, Sports & Entertainment Local Oklahoma Bank, NA Pacific Hotel Group
I Facilities Consulting Lodgeworks Corporation Pacific Life Insurance Company
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HVS International, San Francisco, California
INTERNATIONAL
Pacific Union Company
Palm Springs New Millennium
Development
Pannell Kerr Forster
Parabas Bank
Park Place Entertainment
Park Plaza International
Patrick M. Nesbitt Associates, Inc.
Patriot American Hospitality
Paul, Hastings, Janofsky & Walker, LLP
Pedregal de Caba San Lucas
Peninsula Bank of Commerce
Phillips, Haskett & lngwaldson
Picadilly Inns
Pillsbury, Madison & Sutro, LLP
PPM Finance, Inc.
Preferred Bank
Presidio Hotel Group
Property Capital Trust
Property Management Group
Prudential Mortgage Capital Company
Prudential Realty Group
Punjab National Bank
Queen Emma Foundation
Radisson Hospitality Worldwide
Raffles International Hotels & Resorts
Raleigh Enterprises
R.A. Rauch & Associates, Inc.
R.C. Hedreen Co.
Real Estate Finance Group
Ramada Inns
Real Estate Capital Markets
Realty Executives
Red Lion Hotels & Inns
Richard E Jacobs Group
Riggs & company, Trust Division
The RIM Corp.
Riverboat Delta King, Inc.
Rosenbach & Rosenbach
Royale Resorts
RSM Investments, Inc.
RT Capital Corporation
Ryder, Stilwell Properties, Inc.
Sage Hospitality Resources, Inc.
Saloman Brothers Realty Corp,/Saloman
Smith Barney
Sandhill Properties
San Francisco International Airport
San Leandro Development Services
Department
San Jose National Bank
Santa Ana F/C Development Venture
Seafirst Bank
Security Pacific National Bank
Salomon Brothers
Scotia Capital
S.D. Malkin Properties, Inc.
Seven Seas Associates, LLC
Shearman & Sterling
The Schnitzer Group
Schnitzer Northwest, LLC
Secured Capital Corporation
Simpson, Thatcher & Bartlett
Societe Generale
Solit Interest Group
Sonoma Valley Bank
Southern California Savings
South Johnson
Spieker Properties
Ssang Yong Engineering and Construction
Company, Limited
Starwood Capital/Starwood Asset
Management
Starwood Hotel Investors, Inc.
Stephen W. Noey & Associates
Stern & Goldberg
Stonebridge Realty Advisors
Strategic Hotel Capital, Inc.
Strategic Realty Advisors, Inc.
Streich Lang
Suburban Capital Markets, Inc.
Sumitomo Bank
Sunriver Resort
Sunstone Hotel Investors, Inc.
Sunterra Corporation
Swig Investment Company
TCF Bank
Teachers Insurance and Annuity
Association
Texas Capital Bank
Thompson Law Office
Three Sisters Resorts
Tipton Management
Tokai Bank
Qualifications of Suzanne R. Mellen, CRE, MAI
Tom Grant, Jr.
Transamerica Realty Services, Inc.
Transworld Management/Concord
International
Travelers Insurance Company
The Travelers Companies
Treadway Hotels
Trinity Investment Trust
TrizecHahn Development
Tully & Wezelman, P.C.
TYBA Group, Inc.
Union Bank of California
United Pacific Bank
United Security Bank
UBS Warburg Real Estate Investments
U.S. Bancorp VMS Realty
U.S. Bancorp Real Estate Technical
Services
U.S. Bank
U.S. Trust Company
Valencia Company
Villa del Lago Associates
Wailua Associates
Wells Fargo Bank, N.A.
Wells Fargo RETECHS
Westbank Associates
West Coast Bancorp
Westdeutsche Immobilien Bank
Westdeutsche Landesbank
Western International
Western States Management
West LB
Westin Hotels & Resorts
Wharf Enterprises, Inc.
W.H. Holdings, LLC
Wilmorite, Inc.
Windsor Capital Group
Wingate Realty Finance Corporation
Win Time Hotels
Wolf, Rifkin & Shapiro
Wong & Mak, LLP
Woodfin Suite Hotel Co.
Woodside Hotels & Resorts
Wrather Corp.
W.R.C. Properties, Inc.
Yasuda Trust and Banking Co., Ltd.
Zurich Structured Finance, Inc.
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HVS International, San Francisco, California Qualifications of Suzanne R. Mellen, CRE, MAI
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INTERNATIONAL
PARTIAL LIST OF HOTELS AND MOTELS APPRAISED OR EVALUATED
BY SUZANNE R. MELLEN, CRE, MAI
ALABAMA
Fairfield Inn, Birmingham
Ramada Inn, Gadsden
Proposed Hotel, Mobile
Fairfield Inn, Montgomery
Holiday Inn, Montgomery
Howard Johnson's, Montgomery
Residence Inn, Montgomery
ALASKA
Best Western Barratt Inn, Anchorage
Clarion Suites Hotel, Anchorage
Hawthorne Suites, Anchorage
Holiday Inn, Anchorage
Hotel Captain Cook, Anchorage
Northern Lights Hotel, Anchorage
Rose Garden Hotel, Anchorage
Sheraton Anchorage Hotel, Anchorage
Proposed Resort Hotel, Wasilla
ARIZONA
Sheraton San Marcos Hotel, Chandler
Best Western, Flagstaff
Motel 6, Flagstaff
Rodeway Inn, Flagstaff
Woodlands Plaza Hotel, Flagstaff
Bright Angel Lodge, Grand Canyon
El Tovar Hotel, Grand Canyon
Kachina Lodge, Grand Canyon
Maswik Lodge, Grand Canyon
Moqui Lodge, Grand Canyon
Phantom Ranch, Grand Canyon
Thunderbird Lodge, Grand Canyon
Yavapai Lodge, Grand Canyon
Best Western Green Valley, Green Valley
Hampton Inn-Proposed, Holbrook
Rodeway Inn, Kingman
Nautical Inn, Lake Havasu
Best Western Executive Park Hotel,
Phoenix
Bobby McGee's Conglomeration, Phoenix
Caravan Inn, Phoenix
Crescent Hotel, Phoenix
Doubletree Inn, Phoenix
Embassy Suites-Camelback, Phoenix
Embassy Suites-Camelhead, Phoenix
Fountain Suites Hotel, Phoenix
Full-Service Hotel, Proposed, Phoenix
Granada Royale Camelhead, Phoenix
Holiday Inn, Phoenix
Holiday Inn Crowne Plaza, Phoenix
Hyatt Regency, Phoenix
Knights Inn, Phoenix
Omni Adams Hotel, Phoenix
Pointe Hilton Squaw Peak Resort, Phoenix
Quality Inn, Phoenix
Ramada Inn MetroCenter, Phoenix
Courtyard by Marriott, Scottsdale
Doubletree Inn, Scottsdale ·
Holiday Inn Old Town, Scottsdale
Marriott Camelback Inn, Scottsdale
Phoenician Resort, Scottsdale
Red Lion-La Posada, Scottsdale
Rodeway Inn, Scottsdale
Scottsdale Conference Resort, Scottsdale
Scottsdale Hilton Resort, Scottsdale
Scottsdale Princess, Scottsdale
Summerfield Suites, Proposed, Scottsdale
Sunburst Resort Hotel & Conference
Center, Scottsdale
Hilton Garden Inn, Proposed, Sedona
L'Auberge de Sedona, Sedona
Los Abrigados, Sedona
Orchard's Inn & Grill, Sedona
Motel 6, Sierra Vista
Country Inn & Suites Hotel, Tempe
Mixed-Use Development, Tuba City
Clarion Tucson, Tucson
Country Inn & Suites, Tucson
Courtyard by Marriott, Tucson
Doubletree Inn, Tucson
Loews Ventana Canyon Resort, Tucson
Lodge at Ventana Canyon, Tucson
Marriott Hotel & Starr Pass Golf Course,
Proposed, Tucson
Marriott Resort, Prop., Tucson
Proposed Hotel, Tucson
Proposed Microtel Inn, Tucson
Radisson Suite Hotel, Tucson
Rodewaylnn, Tucson
Westward Look Resort, Tucson
Shilo Inn, Yuma
ARKANSAS
Hilton, Hot Springs
Holiday Inn, Little Rock
Red Carpet Inn, Little Rock
CALIFORNIA
Radisson Hotel, Agoura Hills
Ramada Inn, Agoura Hills
Renaissance ClubSport, Proposed, Aliso
Viejo
Anaheim Marriott, Anaheim
Anaheim Park Motor Inn, Anaheim
Anaheim Plaza Resort Hotel, Anaheim
Best Western Anaheim Inn, Anaheim
Best Western Stovall's Inn, Anaheim
Best Western Pavilions Inn, Anaheim
Boulevard Inn, Anaheim
Carousel Inn and Suites, Anaheim
Comfort Inn, Anaheim
Desert Palm Inn & Suites, Anaheim
Disneyland Hotel, Anaheim
Doubletree Hotel, Anaheim
Golden Forest Motel, Anaheim
Hilton Hotel & Towers, Anaheim
Holiday Inn, Anaheim
Howard Johnson Hotel, Anaheim
Jolly Roger, Anaheim
Marriott Courtyard, Anaheim
Pan Pacific Hotel, Anaheim
Pitcairn Inn, Anaheim
Proposed La Quinta Inn & Suites, Anaheim
Quality Hotel, Anaheim
Ramada Maingate Hotel, Anaheim
Raffles Inn & Suites, Anaheim
Station Inn, Anaheim
Travelodge Inn at the Park, Anaheim
WestCoast Anaheim Hotel, Anaheim
Residence Inn, Anaheim Hills
Proposed Fairfield Suites, Arcadia
Proposed Hilton Garden Inn, Arcadia
Auburn Inn, Auburn
Sleep Inn, Auburn
Ramada, Augora Hills
Allstar Inn, Bakersfield
Clarion Suites, Bakersfield
Economy Inn, Bakersfield (2)
Marriott Courtyard, Bakersfield
Red Lion Hotel; Bakersfield
Residence Inn, Bakersfield
Sheraton Hotel, Bakersfield
Travelodge Hotel, Bakersfield
Hilton Hotel, Baldwin Park
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INTERNATIONAL
Fairfield Inn, Baltimore
Allstar Inn, Barstow
Economy Inn, Barstow
Holiday Inn Express, Belmont
Proposed Summerfield Suites, Belmont
Summerfield Suites, Belmont
Berkeley Marina Marriott, Berkeley
Shattuck Hotel, Berkeley
Beverly Hills Country Club, Beverly Hills
Beverly Hilton, Beverly Hills
Beverly Wilshire, Beverly Hills
Four Seasons Hotel, Beverly Hills
Holiday Inn Select, Beverly Hills
L'Ermitage, Beverly Hills
Peninsula Beverly Hills, Beverly Hills
Regent Beverly Wilshire Hotel, Beverly
Hills
Renaissance Hotel, Beverly Hills
Best Western, Big Bear Lake
Motel 6, Big Bear Lake
Proposed hotel, Big Bear Lake
Post Ranch Inn, Big Sur
Ventana Inn, Big Sur
Rodeway Inn, Blythe
Bodega Bay Lodge, Bodega Bay
Embassy Suites Hotel, Brea
Holiday Inn, Brentwood
Hilton Residential Suites, Brisbane
Rancho Santa Barbara Marriott, Buellton
Fairfield Inn, Buena Park
Hampton Inn, Buena Park
Marriott Courtyard, Buena Park
Burbank Airport Hilton, Burbank
Hilton Hotel, Burbank
Ramada Inn, Burbank
Hyatt Regency, Burlingame
Hyatt Regency SFO, Burlingame
Airport Marriott, Burlingame
Radisson Plaza-Proposed, Burlingame
Ramada Inn, Burlingame
Good Nite Inn, Buttonwillow
Country Inn, Calabassas
Good Nite Inn, Calabassas
Calistoga Ranch Resort, Proposed
Del Norte Inn, Camarillo
Good Nite Inn, Camarillo
Cambria Pines Lodge, Cambria
Best Western Fireside Inn, Cambria
Campbell Inn, Campbell
Courtyard by Marriott, Proposed,
Campbell
Hilton Garden Inn, Campbell
Hilton Hotel, Proposed, Campbell
Pruneyard Inn, Campbell
Proposed Hotel, Capitola
Allstar Inn, Carlsbad
Carlsbad Inn, Carlsbad
Four Seasons Resort Aviara, Carlsbad
Inn of America, Carlsbad
La Costa Resort and Spa, Carlsbad
Legoland, Carlsbad
Legoland Hotel, Proposed, Carlsbad
Olympic Resort, Carlsbad
Carmel Mission Inn, Carmel
Carmel Valley Ranch, Carmel
Highlands Inn, Carmel
Bernardus Lodge, Carmel Valley
Robles del Rio, Carmel Valley
Valley Lodge, Carmel Valley
Proposed Hotel, Casa de Fruta
Doubletree Hotel, Cathedral City
Proposed Hotel, Cathedral City
Royce Hotel, Cathedral City
Sheraton Cerritos Towne Center, Cerritos
Sheraton Hotel, Cerritos
Neighborhood Inn-Proposed, Chatsworth
Days Inn, Chico
Holiday Inn, Chico
Proposed Microtel Inn and Suites, Chico
Red Lion Hotel, Chico
Otay Valley Travel Lodge, Chula Vista
The City of Clovis, Clovis
Harris Ranch, Coalinga
Howard Johnson's, Colton
Concord Hilton, Concord
Sheraton Hotel, Concord
Trees Inn, Concord
Motel 6, Corona
Loews Coronado Bay Resort, Coronado
Proposed Hilton Garden Inn, Corte Madera
Ha'Penny Inn, Costa Mesa
Marriott Suites, Costa Mesa
Red Lion Hotel, Costa Mesa
Residence Inn, Costa Mesa
Four Points Barcelo Hotel, Culver City
Pacifica Hotel & Conference Center,
Culver City
Ramada Inn, Culver City
Boutique Hotel, Proposed, Cupertino
Hilton Garden Inn, Cupertino
Marriott Courtyard, Cupertino
Two Proposed Hotel Sites, Cupertino
Qualifications of Suzanne R. Mellen, CRE, MAI
Courtyard by Marriott, Cypress
Hotel, Proposed, Daly City
Ritz-Carlton Laguna Niguel, Dana Point
Proposed Spa, Danville
Furnace Creek Inn, Death Valley
Furnace Creek Resort, Death Valley
Stove Pipe Wells Village, Death Valley
Shilo Inn, Delano
Hampton Inn, Del Mar
Hilton Hotel, Del Mar
Marriott Hotel, Del Mar
Marriott Resort & Spa, Desert Springs
Days Inn Diamond Bar, Diamond Bar
Holiday Inn Select, Diamond Bar
Scott's Restaurant and
Banquet/Conference Center, Proposed,
Dublin
Best Western, El Toro
Carlos Murphy's Restaurant Emeryville
Days Inn, Emeryville
Hardage Suites Hotel Site, Emeryville
Lyon's Restaurant, Emeryville
Sheraton Four'Points, Emeryville
Woodfin Suite Hotel, Prop., Emeryville
Woodfin Suite Hotel, Emeryville
Budget Motel, Encinitas
Hilton Garden Inn, Proposed, Escondido
Red Lion Inn, Eureka
Marriott Tenaya Lodge, Fish Camp
Proposed Hotel, Folsom
Golden Gate National Recreation Area, Fort
Baker
All-Suites-Proposed, Foster City
Clubtel-Proposed, Foster City
Courtyard by Marriott, Foster City
Holiday Inn, Foster City
Courtyard by Marriott, Fremont
Hilton Hotel, Fremont
Marriott Hotel, Fremont
Motel 6, Fremont
Quality Inn, Fremont
Proposed Westin ClubSport, Fremont
Allstar Inn, Fresno (2)
Chateau Inn, Fresno
Economy Inn, Fresno (2)
Hacienda Resort and Conference Center,
Fresno
Holiday Inn, Fresno
Marriott Courtyard, Fresno
Picadilly Inns, Fresno (3)
Travelers Inn, Fresno (3)
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HVS International, San Francisco, California
m~~ --------------------
INTERNATIONAL
Sierra Sport and Racquet Club, Fresno
Griswold's Hotel, Fullerton
Marriott Hotel, Fullerton
Hotel, Proposed, Gilroy
Motel 6, Gilroy
Red Lion Hotel, Glendale
Hyatt Regency-Proposed, Goleta
Half Moon Bay Lodge, Half Moon Bay
Ocean Colony Resort, Half Moon Bay
Ritz-Carlton Hotel, Half Moon Bay
Ritz-Carlton Hotel, Proposed, Half Moon
Bay
Best Western Dry Creek Inn, Healdsburg
Healdsburg Plaza Hotel, Proposed,
Healdsburg
Casa de Fruta, Holister
Holiday Inn Hollywood, Hollywood
Hollywood Clarion Roosevelt, Hollywood
Hollywood Palm Hotel, Hollywood
Renaissance Hollywood Hotel, Hollywood
Waterfront Hilton, Huntington Beach
Grand Champions Resort, Indian Wells
Miramonte Resort, Indian Wells
Arena/Convention Center Amenity,
Proposed, Indio
Resort Hotel, Proposed, Indio
RV Park, Proposed, Indio
Hilton Orange County Airport, Irvine
Marriott Courtyard, Irvine
Registry Hotel, Irvine
Amador Inn, Jackson
Kenwood Inn & Spa, Kenwood
Mortons Sonoma Springs Resort,
Kenwood
Proposed Hotel, Kern Co.
Lafeyette Park Hotel, Lafeyette
Surf & Sand Hotel, Laguna Beach
Ritz-Carlton Hotel, Laguna Niguel
St. Regis Monarch Beach Resort, Laguna
Niguel
Embassy Suites La Jolla, La Jolla
Hyatt Hotel, La Jolla
Residence Inn, La Jolla
Scripps Inn, La Jolla
Hilton Lodge, Lake Arrowhead
Lake Arrowhead Resort, Lake Arrowhead
Proposed Hotel, Lake Country
Resort at Squaw Creek, Lake Tahoe
Marriott Courtyard, Larkspur
Marriott Rancho Las Palmas, Las Palmas
Proposed 50-Unit Motel, Little Lake
Courtyard by Marriott, Livermore
Diva Hospitality, Livermore
Hilton Garden Inn, Livermore
Residence Inn, Livermore
Embassy Suites, Lompoc
Breakers Hotel, Long Beach
Holiday Inn, Long Beach
Holiday Inn -Airport, Long Beach
Hyatt Regency, Long Beach
Marriott Hotel, Long Beach
Residence Inn, Long Beach
West Coast Hotel & Marina, Long Beach
Courtyard by Marriott, Proposed, Los
Altos
Los Altos Residence Inn, Proposed, Los
Altos
Airport Park Hotel, Los Angeles
Biltmore Hotel, Los Angeles
Checkers Hotel, Los Angeles
Courtyard by Marriott, Los Angeles
Crowne Plaza LAX, Los Angeles
Doubletree Hotel at LAX, Los Angeles
Econolodge-Proposed, Los Angeles
Embassy Suites, Los Angeles
Four Seasons, Los Angeles
Hilton Hotel & Towers, Los Angeles
Hilton LAX, Los Angeles
Holiday Inn Brentwood/Bel Air, Los
Angeles
Holiday Inn-LAX, Los Angeles
Holiday Inn Crowne Plaza-LAX, Los
Angeles
Holiday Inn Express-Van Nuys, Los
Angeles
Hotel Inter-Continental, Los Angeles
Hotel Sofitel Ma Maison, Los Angeles
Le Montrose, Los Angeles
Loews Santa Monica Beach, Los Angeles
Marriott Courtyard-LAX, Los Angeles
New Seoul Hotel, Los Angeles
Playa Vista Development, Los Angeles
Quality Hotel Airport, Los Angeles
Residence Inn Beverly Hills, Proposed,
Los Angeles
Residence Inn, Los Angeles
Sofitel Ma Maison, Los Angeles
Summerfield Suites, Los Angeles
W Hotel, Los Angeles
Westin Bonaventure, Los Angeles
Westmoreland Place, Los Angeles
Hotel & Restaurant, Proposed, Los Gatos
Qualifications of Suzanne R. Mellen, CRE, MAI
Los Gatos Lodge, Los Gatos
Economy Inns of America Motel, Madera
Barnabey's Hotel, Manhattan Beach
Courtyard by Marriott, Marina del Rey
Doubletree Hotel, Marina del Rey
Holiday Inn Express, Marina del Rey
Marina Suites Hotel, Marina del Rey
Marina Beach Hotel, Marina del Rey
Marriott Hotel, Marina del Rey
Hill House, Mendocino
Stanford Park Hotel, Menlo Park
Comfort Inn, Millbrae
Candlewood Hotel, Milpitas
Courtyard by Marriott, Milpitas
Extended-Stay Hotel Site, Milpitas
Hilton Garden Inn, Milpitas
Holiday Inn, Milpitas
Renaissance Hotel, Proposed, Milpitas
TownePlace Suites, Milpitas
Holiday Inn, Miramar
Courtyard by Marriott, Mira Mesa
Motel Orleans, Modesto
Red Lion Hotel, Modesto
Four Points Barcelo Hotel, Monrovia
Miramar Resort Hotel, Montecito
City of Monterey, Monterey
Doubletree Fisherman's Wharf, Monterey
Doubletree Inn, Monterey
Hotel Pacific, Monterey
Hotel, Proposed, Monterey
Monterey Peninsula Hotel, Proposed,
Monterey
Monterey Plaza Hotel, Monterey
Sheraton Hotel, Monterey
Inn at Morro Bay, Morro Bay
Hilton Garden Inn, Proposed, Mountain
View
Westin ClubSport, Proposed, Mountain
View
Aetna Springs Resort, Proposed, Napa
Hilton Garden Inn, Proposed, Napa
Hotel, Prop./Timeshare, Napa Gateway,
Napa
Lodge on Napa River, Napa
Napa Valley Marriott, Napa
Sheraton Inn Napa Valley, Napa
Best Western Inn, Napa Valley
Clarion Inn, Napa Valley
Inn at Napa Valley, Napa Valley
Silverado, Napa Valley
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HVS International, San Francisco, California
m~~--------
INTERNATIONAL
Windmill Inn, Proposed, Napa Valley
Newark/Fremont Hilton, Newark
Park Inn, Newark
W Suites Hotel, Proposed, Newark
Hyatt Newporter, Newport Beach
Marriott Suites, Newport Beach
Proposed Newport Coast Development,
Newport Beach
Newporter Resort Hotel, Newport Beach
Sheraton Hotel, Newport Beach
Hilton Garden Inn, Proposed, Novato
Shilo Inn, Oakhurst
Holiday Inn Oakland Airport, Oakland
Pare Oakland Hotel, Oakland
Unused Land lease Parcel, Oakland
Resort at Squaw Creek, Olympic Valley
Clarion Hotel, Ontario
Holiday Inn, Ontario
Red Lion Hotel, Ontario
Residence Inn, Ontario
Residence Inn, Orange
Woodfin Suite Hotel, Orange
Hilton Garden Inn, Proposed, Oxnard
Holiday Inn, Oxnard
Proposed Hotel, Pacifica
Super 8 Motel, Palmdale
Embassy Suite, Palm Desert
Hawthorne Suites, Palm Desert
Canyon Resort Hotel, Palm Springs
Desert Princess, Palm Springs
Hotel, Proposed, Palm Springs
Hyatt Palm Springs, Palm Springs
Marriott Rancho Las Palma, Palm Springs
Palm Canyon, Palm Springs
Palm Springs Spa Hotel, Palm Springs
Spa Hotel & Mineral Springs, Palm
Springs
Wyndham Hotel, Palm Springs
Cardinal Hotel, Palo Alto
Holiday Inn, Palo Alto
Proposed Hotel, Palo Alto
Stanford Park Hotel, Palo Alto
Stanford Terrace Inn, Palo Alto
Ambassador College Hotel, Prop.,
Pasadena
Holiday Inn Express, Pasadena
Marriott Courtyard, Pasadena
Ritz-Carlton Huntington Hotel, Pasadena
Hacienda Hotel, Patterson
Hotel and Restaurant, Proposed, Patterson
Hotel, Proposed, Patterson
Cascade Ranch Lodge, Pescadero
Elks Lodge, Petaluma
Beverly Hills Residence Inn, Pico
Hotel, Proposed, Pinole
Best Western Grande Arroyo, Pismo
Beach
Hilton, Proposed, Pismo Beach
Fairfield Inn, Placentia
AmeriSuites & Homestead Village,
Pleasant Hill
Black Angus Restaurant, Pleasant Hill
Embassy Suites, Pleasant Hill
Pleasant Hill Inn, Pleasant Hill
Residence Inn, Pleasant Hill
Savoy Restaurant, Pleasant Hill
Summerfield Suites Hotel, Proposed,
Pleasant Hill
Woodfin Suite Hotel, Proposed, Pleasant
Hill
Candlewood Hotel, Pleasanton
Hilton Hotel, Pleasanton
Holiday Inn, Pleasanton
Marriott Courtyard, Pleasanton
Pleasanton Hilton Hotel, Pleasanton
Sierra Suites, Pleasanton
Summerfield Suites, Pleasanton
Shilo Inn, Pomona
Aetna Springs Resort, Pope Valley
Country Inn, Port Hueneme
Portland Westin Hotel, Portland
Holiday Inn, Rancho Bernardo
Economy Inn, Rancho Cordova
Hallmark Suites Hotel, Rancho Cordova
Marriott Courtyard, Rancho Cordova
Quality Suites, Rancho Cordova
Marriott Rancho Las Palmas,
Rancho Mirage
Five-Star Resort & Golf Course, Proposed,
Rancho Palos Verdes
Grand Manor Inn, Redding
Microtel Inn & Suites, Redding
Motel Orleans East, Redding
Motel 6, Redding
Park Terrace, Redding
Red Lion Inn, Redding
Shasta Inn, Redding
Good Nite Inn, Redlands
Portofino Hotel & Yacht Club, Redondo
Beach
Sheraton Redondo Beach, Redondo Beach
Qualifications of Suzanne R. Mellen, CRE, MAI
Hotel, Proposed (Blair Towers), Redwood
City
Hotel Sofitel at Redwood Shores,
Redwood City
Carriage Inn, Ridgecrest
Holiday Inn Select
Mission Inn, Riverside
Good Nite Inn, Rohnert Park
Ramada Limited Hotel, Rohnert Park
Red Lion Hotel, Rohnert Park
Hilton Gardens Hotel, Roseville
Hilton Garden Inn, Roseville
Hotel & Convention Center, Prop.,
Roseville
Allstar Inn, Sacramento (4)
Arco Arena, Sacramento
Candlewood Hotel, Proposed, Sacramento
Candlewood Hotel, Sacramento
Clarion Hotel, Sacramento
Convention Hotel, Proposed, Sacramento
Courtyard by Marriott, Sacramento
Docks Hotel, Proposed, Sacramento
Dodge City Motel, Sacramento
Hilton Garden Inn, Sacramento
Hilton Hotel, Sacramento
Hilton Inn, Sacramento
Holiday Inn, Sacramento
Hyatt Regency, Sacramento
Hyatt Regency at Capitol Park,
Sacramento
Motel Orleans, Sacramento
Peregrine Real Estate Trust, Sacramento
Radisson Hotel, Sacramento
Red Lion Hotel-Sacramento, Sacramento
Red Lion-Sacramento Inn, Sacramento
Residence Inn, Proposed, Sacramento
Residence Inn South Natomas,
Sacramento
Riverboat Delta King, Sacramento
Sacramento Hilton, Sacramento
Sacramento Inn, Sacramento
Sierra Inn, Sacramento
Sterling Hotel, Sacramento
Travelers Inn, Sacramento
Vizcaya Catering Hall, Proposed,
Sacramento
Woodlake Inn, Sacramento
Proposed 60-Unit Hotel, Sacramento
Marriott Courtyard, San Bruno
Ballpark and Redevelopment Project, San
Diego
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HVS International, San Francisco, California
W -------------
INTERNATIONAL
Best Western Hanalei, San Diego
Best Western Island Palms Resort, San
Diego
Best Western Seven Seas Lodge, San
Diego
Carmel Highland Doubletree, San Diego
Clarion Bay View Hotel, San Diego
Comfort Inn, San Diego
Comfort Inn Old Town, San Diego
Courtyard by Marriott, San Diego
Courtyard by Marriott, Proposed, San
Diego
Del Mar Marriott, San Diego
Doubletree Hotel at Horton Plaza, San
Diego
Embassy Suites-La Jolla, San Diego
Executive Lodge, San Diego
Hampton Inn, San Diego
Hampton Inn San Diego Downtown, San
Diego
Hanalei Hotel, San Diego
Harbour Lights, San Diego
Hilton Garden Inn, Proposed, San Diego
Holiday Inn, San Diego
Holiday Inn Express Sea World, San Diego
Homewood Suites, Proposed, San Diego
Hotel Del Coronado, San Diego
Hotel San Diego, San Diego
Howard Johnson, San Diego
Hyatt Islandia, San Diego
Hyatt Regency, San Diego
Intercontinental Hotel, San Diego
Kings Inn, San Diego
La Jolla Village Inn, San Diego
Marriott Hotel and Marina, San Diego
Marriott Mission Valley, San Diego
Marriott Suites, San Diego
Meridien Hotel, San Diego
Mission Valley Inn, San Diego
Mission Valley Hilton, San Diego
Radisson Hotel, San Diego
Ramadc\ Limited Suites, San Diego
Rancho Bernardo Inn, San Diego
Rancho Bernardo Inn and Oaks Golf
Course, San Diego
Red Lion Hotel, San Diego
Residence Inn, San Diego
Renaissance Hotel, Proposed, San Diego
Summer House Inn, San Diego
Sheraton Grand, San Diego
Sheraton Harbor Island East, San Diego
Sheraton Hotel & Marina, San Diego
Super 8 Motel-Point Loma, San Diego
Symphony Towers, San Diego
Town and Country Hotel, San Diego
U.S. Grant Hotel, San Diego
Westin Horton Plaza, San Diego
Wyndham Emerald Plaza Hotel, San Diego
ANA Hotel, San Francisco
Bellevue Hotel, San Francisco
Bix Restaurant, San Francisco
Campton Place Hotel, San Francisco
Cartwright Hotel, San Francisco
Chancellor Hotel, San Francisco
The Clift Hotel, San Francisco
Comfort Inn by the Bay, San Francisco
Courtyard by Marriott, San Francisco
Donatello Hotel, San Francisco
DoubleTree Club Hotel, Proposed, San
Francisco
El Drisco Hotel, San Francisco
Embarcadero Inn, San Francisco
Excipio San Francisco, San Francisco
Fairmont Hotel, San Francisco
Four Seasons Hotel, San Francisco
Grand Hyatt, San Francisco
Harbor Court Hotel, San Francisco
Haslett Warehouse Hotel, Proposed, San
Francisco
Hilton Garden Inn, Proposed, San
Francisco
Hilton Hotel SFO, San Francisco
Hilton San Francisco Airport North, San
Francisco
Hilton San Francisco & Towers, San
Francisco
Holiday Inn-Civic Center, San Francisco
Holiday Inn-Fisherman's Wharf,
San Francisco
Holiday Inn-Golden Gateway, San
Francisco
Holiday lnn-SFO, San Francisco
Holiday Lodge, San Francisco
Hotel Diva, San Francisco
Hotel Griffon, San Francisco
Hotel Griffon & Red Herring Restaurant,
San Francisco
Hotel Griffon & Roti Restaurant, San
Francisco
Hotel Nikko, San Francisco
Hotel, Proposed, San Francisco
Hotel Rex, San Francisco
Qualifications of Suzanne R. Mellen, CRE, MAI
Hotel Triton, San Francisco
Hotel Union Square, San Francisco
Howard Johnson's Pickwick Hotel,
San Francisco
Hyatt at Fisherman's Wharf, San Francisco
Hyatt Regency, San Francisco
Hyatt Regency Embarcadero, San
Francisco
Inn at Fisherman"s Wharf, Proposed,
San Francisco
Inn at the Opera, San Francisco
Juliana Hotel, San Francisco
King George Hotel, San Francisco
Lambourne Hotel, San Francisco
Le Meridien Hotel, San Francisco
The Majestic, San Francisco
Mandarin Hotel, San Francisco
Mark Twain Hotel, San Francisco
Marriott Fisherman's Wharf, San Francisco
Maxwell Hotel, The, San Francisco
Mission & Steuart Hotel, Proposed, San
Francisco
Olympic Hotel & Delicatessen, San
Francisco
Orchard Hotel, San Francisco
Palomar Hotel, San Francisco
Pare Fifty-Five, San Francisco
Park Hyatt, San Francisco
Piers 30/32, San Francisco
Portman Hotel, San Francisco
Prescott Hotel, San Francisco
Presidio Travelodge, San Francisco
Queen Anne Hotel, San Francisco
Radisson Hotel at Fisherman's Wharf
Ramada Fisherman's Wharf, San
Francisco
Ramada Hotel, San Francisco
Ramada Plaza Hotel, San Francisco
Regis Hotel, San Francisco
Renaissance ClubSport, Proposed, San
Francisco
Residence Inn, Proposed, San Francisco
Richilieu Hotel, San Francisco
Ritz Carlton, Proposed, San Francisco
Rosewood Hotel, San Francisco
San Francisco Airport Hilton, San
Francisco
San Francisco Hilton, San Francisco
San Francisco Hotel, San Francisco
San Francisco Marriott, San Francisco
Savoy Hotel, San Francisco
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HVS International, San Francisco, California
mW---------
INTERNATIONAL
Sheraton Fisherman's Wharf, San
Francisco
Sir Francis Drake Hotel, San Francisco
Stanford Court, San Francisco
St. Regis Hotel, Proposed, San Francisco
Super 8 Motel at Fisherman's Wharf
Proposed Inn at 2961 Pacific Avenue, San
Francisco
Tuscan Inn, San Francisco
Westin St. Francis Hotel, San Francisco
Whitehall Inn, San Francisco
Marriott Courtyard, San Francisco Airport
Crowne Plaza, San Jose
Fairmont Hotel, San Jose
Four Hundred-Room Hotel Site, San Jose
Holiday Inn, San Jose
Hotel, Proposed, San Jose
Hyatt San Jose, San Jose
Hyatt St Claire, San Jose
Ramada Renaissance Hotel, San Jose
Radisson Plaza Hotel Airport, San Jose
Red Lion-San Jose, San Jose
Renaissance ClubSport, Proposed, San
Jose
San Jose Marriott, San Jose
Sierra Suites, Proposed, San Jose
Three Hundred-Room Hotel Site, San Jose
Islander Lodge Motel, San Leandro
Apple Farm Inn, San Luis Obispo
Embassy Suites Hotel, San Luis Obispo
Pacific Suites Hotel, San Luis Obispo
Twin Oaks Golf Course, San Marcos
Benjamin Franklin Hotel, San Mateo
Dunfey Hotel, San Mateo
Extended-Stay Hotel, Proposed, San
Mateo
Holiday Inn, San Mateo
Holiday Inn Express, San Mateo
Residence Inn by Marriott, San Mateo
Villa Hotel, San Mateo
Hilton Hotel, San Pedro
Embassy Suites, San Rafael
Four Points Barcelo Hotel, San Rafael
Hotel, Proposed, San Ramon
Marriott Hotel, San Ramon
Residence Inn, San Ramon
Sierra Suites Hotel, Proposed, San Ramon
California Palms, Santa Ana
Compri Hotel, Santa Ana
Embassy Suites, Santa Ana
Executive Inn, Santa Ana
Executive Lodge, Santa Ana
Orange County Ramada Hotel, Santa Ana
Quality Suites, Santa Ana
Westin Hotel, Proposed, Santa Ana
Westin MainPlace Hotel, Proposed, Santa
Ana
El Encanto Hotel, Santa Barbara
Fess Parkers DoubleTree Resort,
Santa Barbara
Fess Parkers Red Lion Resort,
Santa Barbara
Miramar Hotel, Santa Barbara
Resort Hotel, Santa Barbara
Santa Barbara Inn, Santa Barbara
Santa Barbara Club Resort & Spa, Santa
Barbara
San Ysidro Ranch, Santa Barbara
Budget Inn, Santa Clara
Embassy Suites, Santa Clara
Howard Johnson's Hotel, Santa Clara
Marriott Hotel, Santa Clara
Quality Suites, Santa Clara
Summerfield Suites, Santa Clara
Hampton Inn, Santa Clarita
Hilton Garden Inn, Santa Clarita
Hilton Town Center, Santa Clarita
Residence Inn, Santa Clarita
Inn at Pasatiempo, Santa Cruz
Dream Inn, Santa Cruz
Motel 6, Santa Maria
Santa Maria Airport Hilton, Santa Maria
Proposed Hotel, San Mateo
Casa Del Mar, Santa Monica
EconoLodge, Proposed, Santa Monica
Holiday Inn, Santa Monica
Holiday Inn at the Pier, Santa Monica
Loews Santa Monica Beach Hotel, Santa
Monica
Ocean Avenue Hotel, Santa Monica
Pacific Shore Hotel, Santa Monica
Park Hyatt Hotel, Santa Monica
Santa Monica Beach Hotel, Santa Monica
Sheraton Miramar Hotel, Santa Monica
Holiday Inn, Santa Nella
Flamingo Hotel, Santa Rosa
Fountain Grove Inn, Santa Rosa
Holiday Inn, Santa Rosa
Days Inn Seaside, Seaside
Embassy Suites, Seaside
Seaside 8, Seaside
Qualifications of Suzanne R. Mellen, CRE, MAI
Radisson Valley Center Hotel, Sherman
Oaks
Ramada Inn, Solana Beach
Danish Country Inn, Solvang
Lodge at Sonoma, Proposed, Sonoma
MacArthur Place, Sonoma
Red Lion Inn, Sonoma
Renaissance Lodge at Sonoma, Sonoma
Sonoma Valley Inn, Sonoma
Hardage Suites Hotel Site, Sorrento Mesa
Woodfin Suites Hotel, Sorrento Mesa
St. Christopher Motel, South Lake Tahoe
Timberwolf Lodge, South Lake Tahoe
Woodfin Suite Hotel, Proposed, Sorrento
Mesa
Crown Sterling Suites, South San
Francisco
Grosvenor Hotel, South San Francisco
Holiday Inn, South San Francisco
La Quinta Inn, South San Francisco
Marriott Hotel, Proposed, South San
Francisco
Ramada Inn, South San Francisco
Renaissance ClubSport, Proposed, South
San Jose
Three Hundred Ninety-Room Hotel,
Proposed, South San Francisco
Travelodge Hotel San Francisco Airport
North, South San Francisco
Hotel, Proposed, Squaw Valley
Harvest Inn, St. Helena
Meadowood Resort, St. Helena
Motel Orleans, Stockton
Sheraton Hotel-Proposed, Stockton
Stockton Hilton, Stockton
Holiday Inn, Sunnyvale
Neighborhood Suites Hotel, Sunnyvale
The Proposed Grand Hotel, Sunnyvale
Residence Inn Silicon Valley 11, Sunnyvale
Sunnyvale Hilton, Sunnyvale
Super 8, Sunnyvale
Good Nite Inn, Sylmar
Embassy Suites-Temecula, Temecula
Temecula Creek Inn & Golf, Temecula
Temecula Inn, Temecula
Hilton Hotel, Torrance
Holiday Inn -Torrance, Torrance
MCA Hotel, Proposed, Universal City
Extended-Stay Hotel, Proposed, Valencia
Hilton Garden Inn, Valencia
Holiday Inn, Van Nuys
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HVS International, San Francisco, California
m~---------
------
INTERNATIONAL
Hotel Van Nuys, Van Nuys
Habortown Marina Resort, Ventura
Ocean Resorts/Harbortown Hotel, Ventura
Sheraton Hotel, Ventura
Holiday Inn, Visalia
Holiday Inn, Walnut Creek
Marriott Hotel, Walnut Creek
Parkside Hotel, Walnut Creek
Renaissance ClubSport, Proposed, Walnut
Creek
Renaissance Hotel & Sports Club, Walnut
Creek
Royce Hotel, Proposed, Walnut Creek
Walnut Creek Marriott, Walnut Creek
Westin ClubSport, Proposed, Walnut
Creek
City of Watsonville, Watsonville
The Argyle Hotel, West Hollywood
Le Bel Age, West Hollywood
Le Duty, West Hollywood
Le Mondrian, West Hollywood
Le Montrose, West Hollywood
Ramada Hotel, West Hollywood
Summerfield Suites, West Hollywood
Golden Pheasant, Willows
Microtel Inn & Suites, Willows
Whittier Hilton, Whittier
Hotel, Proposed, Woodland
Woodland Hotel & Conference Center-
Proposed, Woodland
Warner Center Marriott, Woodland Hills
Skylonda Retreat, Woodside
Marriott Tenaya Lodge-Proposed,
Yosemite
Napa Valley Lodge, Yountville
Bonanza & Convention Center, Yuba City
Motel Orleans, Yuba City
COLORADO
Hotel Jerome, Aspen
Hampton Inn, Aurora
Holiday Inn Southeast, Aurora
Isle of Capri Hotel Casino, Black Hawk
Downtown Boulder Hotel, Boulder ·
Hilton Harvest House, Boulder
Holiday Inn, Boulder
Proposed Casino Hotel, Central City
Imperial Casino, Cripple Creek
Best Western Le Baron Hotel, Colorado
Springs
Double Eagle Casino Hotel, Proposed,
Colorado Springs
Embassy Suites, Colorado Springs
Hilton, Colorado Springs
Proposed Double Eagle Casino Hotel,
Cripple Creek
Le Baron Hotel, Denver
Brown Palace, Denver
Days Inn-Arapahoe, Denver
Days Inn-Colfax, Denver
Embassy Suites, Denver
Radisson, Denver
Denver Hilton, Englewood
Summerfield Suites, Proposed,
Greenwood Village
Residence Inn, Highlands Ranch,
Colorado
Hampton Inn, Proposed, Lakewood
Marriott Hotel, Pueblo
Silvertree Hotel, Snowmass
Wildwood Lodge, Snowmass
Westin Hotel, Vail
CONNECTICUT
Holiday Inn, Darien
Proposed Days Inn, Enfield
Hartford Hilton, Hartford
Motel 6, Hartford
Residence Inn, Meriden
Executive Hotel, Stamford
Harley Hotel, Stamford
Holiday lnn-Crowne Plaza, Stamford
Inn at National Hall, Westport
Fairfield Inn, Windsor Locks
DISTRICT OF COLUMBIA
ANA Hotel, Washington
J.W. Marriott Hotel, Washington
Doubletree Hotel Conversion, Washington
Fairmont Hotel, Washington
Harambee House, Washington
Hyatt Regency, Washington
Marriott Metro Center, Washington
Monaco Hotel, Washington
Residence Inn, Washington
Ritz-Carlton, Washington
Ritz-Carlton-Georgetown, Washington
River Inn, Washington
St. James, Washington
Qualifications of Suzanne R. Mellen, CRE, MAI
Sheraton Washington Hotel, Washington
FLORIDA
Holiday Inn, Altamonte Springs
Embassy Suites, Boca Raton
Petite Suites, Boca Raton
Holiday Inn, Clearwater
Holiday Inn Gulfview, Clearwater
Sheraton Sand Key Resort, Clearwater
Holiday Inn Surfside, Clearwater Beach
Daytona Beach Radisson, Daytona Beach
Cheeca Lodge & Spa, lslamorada
Doubletree Oceanfront, Ft. Lauderdale
Galleria Doubletree Guest Suites, Ft.
Lauderdale
Holiday Inn-Airport, Ft. Lauderdale
Holiday Inn-Beach, Ft. Lauderdale
Holiday Inn-North, Ft. Lauderdale
Pink Shell Beach resort, Ft. Meyers Beach
Fairfield Inn, Gainesville
Wyndham Casa Marina Resort, Key West
Embassy Suites, Lake Buena Vista
Embassy Suites Orlando, Buena Vista
Woodfin Suite Hotel, Proposed, Lake
Buena Vista
Holiday Inn-Madeira, Madeira Beach
Melbourne Hilton Oceanfront, Melbourne
Fairfield Inn, Miami
Holiday Inn-Calder, Miami
Fairfield Inn International, Miami
Fairfield Inn South, Miami
Fairfield Inn, Orlando
Fairfield Inn, Orlando South
Holiday Inn-International Drive, Orlando
Holiday Inn-Lee Road, Orlando
Peabody Hotel, Orlando
Sheraton Jetport Inn, Orlando
Sheraton Lakeside, Orlando
Holiday Inn, Palm Beach Gardens
Plantation Sheraton Suites, Plantation
Holiday Inn-Lido Beach, Sarasota
Holiday Inn-Airport, Tampa
Ramada Inn, Tampa
GEORGIA
Fairfield Inn, Atlanta
Fairfield Inn, Atlanta-Gwinnett
Fairfield Inn, Atlanta-Northlake
Fairfield Inn, Atlanta-Northwest
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INTERNATIONAL
Fairfield Inn, Atlanta-Peachtree
Fairfield Inn, Atlanta-Southlake
Hyatt-Airport, Proposed, Atlanta
Motel 6, Atlanta
Neighborhood Inn, Atlanta
Residence Inn, Atlanta
Stouffer's Hotel-Proposed, Atlanta
Westin Peachtree Plaza, Atlanta
Fairfield Inn, College Park
Holiday lnn-Crowne Plaza, College Park
Fairfield Inn-Gwinnett, Duluth
Howard Johnson"s Forsyth
Fairfield Inn, Marietta
Hyatt Regency Suites, Marietta
Fairfield Inn, Morrow
Fairfield Inn, Norcross
Motel 6, Norcross
Fairfield Inn, Savannah
HAWAII
Ritz-Carlton Mauna Lani
Royal Sea Cliff Resort, Hawaii
DoubleTree Alana Waikiki Hotel, Honolulu
Gateway Hotel, Honolulu
Kahala Mandarin Oriental Hotel, Honolulu
Miramar Hotel, Honolulu
Ocean Resort Hotel, Honolulu
Outrigger East Hotel, Honolulu
Outrigger Waikiki Hotel, Honolulu
Outrigger West Hotel, Honolulu
Sand Villa Hotel, Honolulu
Coco Palms Resort, Kauai
Marriott Kauai Resort, Kauai
Westin Kauai at Kauai Lagoons Resort,
Kauai
Grand Wailea Resort, Maui
Kapalaua Bay Hotel, Maui
Kea Lani Resort, Maui
Maui Lu Resort, Maui
J.W. Marriott lhilani Hotel, Oahu
Royal Hawaiian Hotel, Oahu
IDAHO
Hilton Garden Inn, Proposed, Boise
Holiday Inn, Boise
Shilo Inn-Boise Riverside, Boise
Motel 6, Coeur d'Alene
Resort Development, Coeur d'Alene
Shilo Inn, Coeur d'Alene
Fairfield Inn & Suites, Proposed, Idaho
Falls
Shilo Inn Suites Hotel, Idaho Falls
Shilo Inn, Nampa
Shilo Inn Suites, Nampa
Cotton Tree Inn, Pocatello
ILLINOIS
Indian Lakes Resort, Bloomingdale
Jumer's Chateau, Bloomington
Super 8 Motel, Bloomington
Super 8 Motel, Champagne
Fairmont Hotel, Chicago
Hilton Chicago and Towers, Chicago
Hyatt at University Village, Chicago
Mayfair Regent, Chicago
Radisson Hotel, Proposed, Chicago
Westin Hotel, Chicago
Woodfin Suite Hotel, Proposed, Chicago
Fairfield Inn, Chicago-Lansing
Super 8 Motel, Crystal Lake
Super 8 Motel, Decatur
Proposed Hotel, Des Plaines
Radisson Suites, Downers Grove
Hampton Inn, Elk Grove
Holiday Inn, Elmhurst
Orrington Hotel, Evanston
Drury Inn, Fairview Heights
Jumer's Continental Inn, Galesburg
Fairfield Inn, Hinsdale
Westin Hotel & ClubSport, Proposed,
Hoffman Estates
Nordic Hills Resort & Conference Center,
Itasca
Empress Hotel & Casino, Joliet
Holiday Inn, Joliet
Fairfield Inn, Lansing
Fairfield Inn, Normal
Casino Hotel, Proposed, Paxton
Fairfield Inn, Peoria
Jumer's Castle, Peoria
Super 8 Motel, Peru
Fairfield Inn, Rockford
Marriott Hotel, Schaumburg
Woodfin Suite Hotel, Proposed,
Schaumberg
DoubleTree Hotel -North Shore,
Skokie
Jumer's Castle, Urbana
Super 8 Motel, Waukegan
Qualifications of Suzanne R. Mellen, CRE, MAI
INDIANA
Fairfield Inn, Bloomington
Super 8 Motel, Columbus
Fairfield Inn, Fort Wayne
French Lick Springs Resort, French Lick
Sheraton Hotel, Gary
Empress Casino, Hammond
Caesars Riverboat Casino Complex-
Proposed,
Harrison County
Fairfield Inn, Indianapolis
Four Points Sheraton, Indianapolis
Motel 6, Indianapolis
University Place Hotel, Indianapolis
Westin Hotel, Indianapolis
Woodfin Suite Hotel, Prop., Indianapolis
Wyndham Garden Hotel, Indianapolis
Hilton Inn, Jeffersonville
Fairfield Inn, Kansas City
Fairfield Inn, Kansas City West
Brown County Inn, Nashville
Belterra Casino Hotel, Vevrey
IOWA
Jumers Castle Lodge, Bettendorf
Holiday Inn, Cedar Falls
Collins Plaza, Cedar Rapids
Fairfield Inn, Cedar Rapids
Fairfield Inn, Clive
Bluffs Run Casino and Dog Track, Council
Bluffs
Harveys Casino Hotel, Council Bluffs
Fairfield Inn, Des Moines
KANSAS
The Emerald City Resort Hotel, Kansas
City
Fairfield Inn, Merriam
Fairfield Inn, Overland Park
Canterbury Inn/Knights Inn, Wichita
KENTUCKY
Holiday Inn-Central, Louisville
Holiday Inn-Northeast, Louisville
Ramada Inn East, Louisville
LOUISIANA
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INTERNATIONAL
Howard Johnson"s, Alexandria
Casino Rouge, Baton Rouge
Embassy Suites, Baton Rouge
Hilton Hotel, Baton Rouge
Horseshoe Casino, Bossier City
Sheraton At New Orleans Airport, Kenner
Metairie Courtyard by Marriott, Metairie
Metairie Residence Inn, Metairie
Chateau Sonesta, New Orleans
Convention Center Courtyard, New
Orleans
Fairmont Hotel, New Orleans
Harrah's Jazz Casino, New Orleans
Hyatt Regency, New Orleans
The Iberville Hotel, New Orleans
Lakeside DoubleTree, New Orleans
The Maison Dupuy, New Orleans
Maison Blanche Boutique Hotel, Proposed,
New Orleans
Maison Blanche Mixed-Use Development,
New Orleans
Maison Blanche Mixed-Use Development,
Proposed, New Orleans
Maison Blanche Ritz-Carlton, Proposed,
New Orleans
Ramada Inn St. Charles, New Orleans
Renaissance New Orleans, Proposed,
New Orleans
Renaissance Pere Marquette, New
Orleans
SpringHill Suites, New Orleans
MAINE
Inn by the Sea, Cape Elizabeth
MARYLAND
Holiday Inn, Aberdeen
Marriott Waterfront Hotel, Annapolis
Maryland Inn, Annapolis
Mariott's Hunt Valley Inn, Baltimore
Residence Inn, Bethesda
Best Western Motor Lodge, Chicopee
Abbey, College Park
Holiday Inn, Laurel
Days Inn, Rockville
DoubleTree Hotel, Rockville
Holiday Inn Crowne Plaza, Rockville
Ramada Inn, Rockville
MASSACHUSETTS
Marriott Copley Place, Boston
Meridien Hotel, Boston
Residence Inn, Boston
Ritz-Carlton-Millennium Palace, Boston
Federal House Inn, South Lee
Holiday Inn, Springfield
Sheraton, Sturbridge
Proposed Sierra Suites Hotel, Waltham
Proposed Summerfield Suites Hotel,
Waltham
Proposed Sierra Suites Hotel, Woburn
MICHIGAN
Fairfield Inn, Auburn Hills
Super 8 Motel, Battle Creek
Howard Johnson"s, Belleville
Fairfield Inn, Canton
Greek Town Casino, Detroit
Holiday Inn, Detroit
Golden Harp-Proposed, Detroit
Radisson Hotel, Farmington Hills
Fairfield Inn, Kalamazoo
Super 8 Motel, Kalamazoo
Embassy Suites-Proposed, Livonia
Embassy Suites, Livonia
Fairfield Inn, Madison Heights
Super 8 Motel, Mount Pleasant
Super 8 Motel, Muskegon
Inn at the Bridge, Port Huron
Fairfield Inn, Romulus
Super 8 Motel, Saginaw
DoubleTree Guest Suites, Southfield
Proposed Woodfin Suite Hotel, Southfield
Comfort Suites, Sterling Heights
Holiday Inn, Troy
Fairfield Inn, Warren
Holiday Inn, Warren
Motel 6, Warren
Super 8 Motel, Wyoming
MINNESOTA
Holiday Inn, Duluth
Holiday Inn Minneapolis West,
Minneapolis
Motel 6, Minneapolis
Proposed Motel, Montevideo
Motel 6, Rochester
Qualifications of Suzanne R. Mellen, CRE, MAI
Radisson Plaza Hotel, Rochester
MISSISSIPPI
Beau Rivage Casino & Resort, Biloxi
Grand Casino, Biloxi
Gulf Beach Resort Hotel, Biloxi
Treasure Bay Hotel & Casino, Biloxi
Grand Casino, Gulfport
Motel 6, Hattiesburg
Howard Johnson's, Jackson
Quality Inn, Oxford
Horseshoe Casino Center, Robinsonville
Sam's Town Hotel & Gambling Hall
Robinsonville
Ameristar Vicksburg, Vicksburg
MISSOURI
Fairfield Inn, Hazelwood
Conference Center Hotel, Proposed,
Kansas City
Holiday Inn, Kansas City
Sam's Town Hotel & Gambling Hall,
Kansas City
Station Kansas City, Kansas City
Casino Hotel, Proposed, Perryville
Holiday Inn, Springfield
Station St. Charles, St. Charles
Adam's Mark Hotel, St. Louis
Casino Hotel, Proposed, St. Louis
Clarion Hotel, St. Louis
Executive Inn, St. Louis
Holiday Inn Sports Complex, St. Louis
Sheraton Airport, St. Louis
Sheraton Westport, St. Louis
West County Hilton Hotel, Proposed, S.
Louis County
Hotel, Proposed, Unity Village
MONTANA
Holiday Inn, Bozeman
Best Western Colonial Hotel, Helena
Red Lion Inn, Kalispell
Holiday Inn, Missoula
Red Lion Hotel, Missoula
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INTERNATIONAL
NEBRASKA
Marriott Hotel, Omaha
Red Lion Inn, Omaha
NEVADA
Ormsby House Hotel and Casino, Carson
City
Shilo Inn Suites, Elko
Eldorado Casino, Henderson
Joker's Wild Casino, Henderson
Cactus Pete's, Jackpot
Horseshu Resort & Casino, Jackpot
Harveys Casino Hotel, Lake Tahoe
Airport Inn, Las Vegas
Aladdin Hotel & Casino, Las Vegas
Alexis Park Hotel, Las Vegas
Alexis Park Resort and Americana
Apartments, Las Vegas
Alexis Park Resort & Spa, Las Vegas
California Hotel & Casino, Las Vegas
Casino Hotel, Proposed, Las Vegas
Fremont Hotel & Casino, Las Vegas
Hawthorne Suites, Las Vegas
Hilton Garden Inn, Proposed, Las Vegas
Holiday Inn-Emerald Springs, Las Vegas
Homewood Suites, Proposed, Las Vegas
Hotel & Casino El Rancho, Las Vegas
Howard Johnson Hotel & Casino, Las
Vegas
Jockey Club, Las Vegas
Paradise Resort Hotel, Las Vegas
Parcel 16216301007, Las Vegas
Regent International Hotel & Casino, Las
Vegas
Residence Inn, Las Vegas
Sam's Town Hotel & Gambling Hall, L;1s
Vegas
Sands Exposition Center, Las Vegas
Stardust Resort and Casino, Las Vegas
Sunrise Hotel & Casino, Las Vegas
Venetian Hotel and Casino and LIDO Land
Parcel, Las Vegas
Casino Hotel & Timeshare, Proposed,
Laughlin
River Palms Hotel & Casino, Laughlin
Mount Potosi Canyon Retreat, Mountain
Springs
Boomtown Casino Hotel, Reno
Fairfield Inn, Proposed, Sparks
Hotel, Proposed, Sparks
State Line and Silver Smith Casino Hotels,
Wendover
NEW JERSEY
Borgata Casino Hotel, Proposed, Atlantic
City
Deauville Hotel, Atlantic City
Harrah's Marina Hotel Casino, Atlantic City
Sands Hotel & Casino, Atlantic City
Tropicana Hotel & Casino, Atlantic City
Trump Marina Hotel Casino, Atlantic City
Cherry Hill Inn, Cherry Hill
Ramada Inn, Proposed, Elizabeth
Ramada Inn, Proposed, Franklin Township
Summerfield Suites Morristown,
Proposed, Hanover
Summerfield Suites Parsippany,
Proposed, Hanover
Holiday Inn, Jamesburg
Headquarters Plaza, Morristown
Howard Johnson's Mount Holly
Mt. Laurel Hilton, Mt. Laurel
Radisson Hotel, Mt. Laurel
Holiday Inn, Newark
Marriott Courtyard Princeton, Princeton
Howard Johnson's, Saddle Brook
Hilton Short Hills Hotel and Spa, Short
Hills
DoubleTree Hotel, Somerset
Marriott Hotel, Somerset
Motel, Wrightstown
Five Churches Chicken Restaurants,
Various Locations
NEW MEXICO
Doubletree Hotel, Albuquerque
Hampton Inn, Albuquerque
Ramada Hotel Classic, Albuquerque
Radisson Inn, Albquerque
Las Cruces Hilton, Las Cruces
Hilton Garden Inn, Rio Rancho
Homewood Suites, Santa Fe
Inn at Loretto, Santa Fe
Sheraton de Santa Fe, Santa Fe
Rancho Ramada Inn de Taos, Taos
Qualifications of Suzanne R. Mellen, CRE, MAI
NEW YORK
Hilton Hotel, Albany
Buffalo Hotel, Buffalo
Proposed Airport Hotel, Buffalo
Nevele Hotel, Ellenville
Howard Johnson's, Elmsford
Ramada Inn, Hauppauge
Hilton Hotel, Lake Placid
Proposed Hotel, New Rochelle
Ramada Plaza, New Rochelle
Sheraton Inn, New Rochelle
Barbizon Plaza Hotel, New York
Berkshire Place, New York
Century Paramount Hotel, New .York
Essex House, New York
Executive Hotel, New York
Halloran House, New York
Hampton House, New York
Holland Hotel, New York
Howard Hotel, New York
Marriott Eastside, New York
Mayfair Regent, New York
Nova-Park Gotham, New York
Parker Meridien Hotel, New York
Ritz-Carlton, New York
Soho Hotel, Proposed, New York
Tudor Hotel, New York
Woodfin Suites Hotel, Proposed, New
York
York Club, New York
Sheraton Inn, Ossining
Proposed Hotel, Saratoga
Howard Johnson's, Smithtown
Hampton Inn, Syracuse
Sheraton Nassau Hotel, Uniondale
Turning Stone Casino, Verona
Turning Stone Casino and Hotel, Verona
Roger Smith Hotel, White Plains
Fairfield Inn, Williamsville
NORTH CAROLINA
Fairfield Inn, Charlotte
Four Seasons Resort, Charleston
Fairfield Inn, Charlotte
Fairfield Inn, Charlotte-North
Fairfield Inn, Durham
Motel 6, Durham
Fairfield Inn, Fayetteville
Embassy Suites, Greensboro
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INTERNATIONAL
Fairtield Inn, Greensboro
Hilton Inn, Greensboro
Fairtield Inn, Raleigh
Hilton Inn, Raleigh
Motel 6, Rocky Mount
Cleghorn Plantation, Ruthertordton
Fairtield Inn, Wilmington
Hilton Inn, Winston-Salem
OHIO
Holiday Inn Cascade, Akron
Embassy Suites, Blue Ash
Fairtield Inn, Brook Park
Proposed Embassy Suites, Cincinnati
Howard Johnson's, Cincinnati
Marriott Inn, Cincinnati
Radisson Inn, Cincinnati
Residence Inn, Cincinnati
Vernon Manor, Cincinnati
Cleveland Marriott East, Cleveland
Fairtield Inn, Cleveland
Holiday Inn Lakeside, Cleveland
Hotel, Proposed, Cleveland
Sheraton Hopkins, Cleveland
200-Room Boutique Hotel, Cleveland
Fairtield Inn, Columbus
Holiday Inn, Columbus
Holiday Inn -Airport, Columbus
Woodfin Hotel, Columbus
Daytonian Hilton, Dayton
Fairtield Inn, Dayton
Motel 6, Dayton
Proposed Woodfin Suite Hotel, Dublin
Fairtield Inn, Holland
Fairtield Inn, Toledo
Holiday Inn, Toledo
Fairtield Inn, Willoughby
OKLAHOMA
Fountainhead Resort, McIntosh County
Portofino Hotel, Proposed, Oklahoma City,
Oklahoma
Arrowhead Resort, Pittsburgh County
The Hotel Ambassador, Tulsa
OREGON
Red Lion Inn, Astoria
Inn at Face Rock, Bandon
Shilo Inn, Beaverton
Proposed Hotel, Bend
Red Lion Inn -North, Bend
Red Lion Inn -Coos Bay, Coos Bay
Hilton Garden Inn, Proposed, Corvallis
Econolodge, Eugene
Execulodge, Eugene
Red Lion Inn, Eugene
Big Creek Resort, Florence
Salishan Lodge, Gleneden Beach
Shilo Inn, Grants Pass
Candlewood Hotel, Hillsboro
Proposed Courtyard Hotel, Hillsboro
Proposed Residence Inn, Hillsboro
Red Lion Inn, Klamath Falls
Hilton Garden Inn, Lake Oswego
Residence Inn, Lake Oswego
Red Lion Inn, Medford
Red Lion Hotel, Pendleton
Avalon Hotel, Portland
Avalon Hotel & Spa, Portland
Avalon Restaurant & Hotel, Spa,
Proposed, Portland
Columbia River Red Lion, Portland
Embassy Suites, Portland
Fifth Avenue Suites Hotel, Portland
Governor Hotel, Portland
Holiday Inn, Portland
Marriott Hotel, Portland
Red Lion Hotel-Portland Downtown,
Portland
Red Lion Inn-Lloyd Center, Portland
Residence Inn-Lloyd Center, Portland
Residence Inn, Proposed, Portland
Sheraton Suites, Proposed, Portland
Sunriver Resort, Portland
Vintage Plaza Hotel, Portland
Wells Building, Portland
West Coast Benson Hotel, Portland
Proposed Westin Hotel, Portland
Capitol Inn, Salem
Execulodge, Salem
Red Lion Inn, Seaside
Red Lion Inn, Springfield
Skamania Lodge, Stevenson
Sunriver Resort, Sunriver
Embassy Suites, Tigard
Red Lion Inn, Tigard
Best Western Hotel, Wilsonville
Holiday Inn, Wilsonville
Qualifications of Suzanne R. Mellen, CRE, MAI
PENNSYLVANIA
Embassy Suites -Pittsburgh, Coraopolis
Days Inn, Danville
Ramada Inn, Erie
Penn National Race Course, Grantville
Fairtield Inn, Harrisburg
Marriott Hotel, Harrisburg
Rittenhouse Towers, Philadelphia
Fairtield Inn, Pittsburgh
Motel 6, Pittsburgh
Embassy Suites, Philadelphia
Pocono Downs Race Course, Plains
Township
DoubleTree Guest Suites,
Plymouth Meeting
Hilton At Lackawanna Station, Scranton
SOUTH CAROLINA
Charleston Place, Charleston
Holiday Inn, Charleston
Holiday Inn -Airport, Charleston
Holiday Inn, Charleston-Riverview
Travelodge, Charleston
Embassy Suites, Columbia
Motel 6, Columbia
Fairtield Inn, Greenville
Ramada Inn, Greenville
Fairtield Inn, Florence
Fairtield Inn, Hilton Head
Hilton Head Inn, Hilton Head
Holiday Inn Express; Hilton Head
Hyatt Regency, Hilton Head
Save Inn, Lake Hartwell
SOUTH DAKOTA
Four Points Hotel, Proposed, Sioux Falls
TENNESSEE
Motel 6, Chattanooga
Holiday Inn, Jackson
Fairtield Inn, Johnson City
Holiday Inn, Memphis
Howard Johnson -Airport, Memphis
Motel 6, Memphis
Villager Lodge, Memphis
Days Inn, Nashville
Hampton Inn, Nashville
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INTERNATIONAL
Hampton Inn, Pigeon Forge
TEXAS
Courtyard by Marriott, Addison
Hotel, Proposed, Addison
Marriott Courtyard, Proposed, Addison
Summerfield Suites Hotel, Proposed,
Addison
Woodfin Suite Hotel, Proposed, Addison
Days Inn, Amarillo
Motel 6, Amarillo
Super 8 Motel, Amarillo
Fairfield inn & Suites, Proposed, Austin
Holiday Inn, Austin
Holiday Inn -Airport, Austin
Hotel Site, Austin
Lakeway Inn, Austin
Sheraton Hotel, Austin
Woodfin Suites Hotel, Proposed, Austin
Days Inn, Corpus Christi
Doubletree Inn, Dallas
Fairmont Hotel, Dallas
Holiday Inn Select, Northpark, Dallas
Hyatt Regency, Dallas
Marriott Park Central, Dallas
Marriott Quorum, Dallas
Melrose Hotel, Dallas
Motel 6, Dallas
Northpark Holiday Inn, Dallas
Park Plaza, Dallas
Ramada Inn Convention Center, Dallas
Residence Inn, Dallas
Residence Inn, Proposed, Dallas
Summit Hotel, Dallas
Howard Johnson"s, East Dallas
Allstar Inn, El Paso
Embassy Suites, El Paso
Travelers Inn, El Paso
Proposed Westin Hotel, Frisco
Metro Center Hotel, Fort Worth
Springhill Suites, Proposed, Fort Worth
Embassy Suites, Houston
Holiday Inn-Hobby, Houston
Houston House, Houston
Houstonian Hotel, Houston
Motel 6, Houston
Residence Inn, Houston
Stouffer Renaissance, Houston
Proposed Hampton Inn, Irving
Hotel Site, Proposed, Irving
Summerfield Suites, Irving
Holiday Inn, Lubbock
Townplace Suites, Plano
Courtyard by Marriott, Round Rock
Crockett Hotel, San Antonio
DoubleTree Hotel, San Antonio
Fairmont Hotel, San Antonio
Amerihost Inn, San Marcos
UTAH
Utah Trails Resort, Kanab
Marriott Hotel, Ogden
Marriott Park City, Park City
Marriott Provo, Provo
Residence Inn, Provo
Seven Peaks Resort Hotel, Provo
Cavanaugh's Olympus Hotel,
Salt Lake City
Red Lion Hotel, Salt Lake City
Sheraton Hotel, Salt Lake City
Shilo Inn, Salt Lake City
WestCoast Hotel, Salt Lake City
Zion Park Inn & Switchback Grill
VIRGINIA
Howard Johnson's, Alexandria
AmeriSuites, Arlington Heights
Embassy Suites Crystal City, Arlington
Hyatt Arlington, Arlington
Holiday Inn Crowne Plaza, Crystal City
Motel 6, Fredericksburg
Fairfield Inn, Hampton
Hilton Tyson's Corner, McLean
Omni International Hotel, Norfolk
Embassy Suites, Richmond
Holiday Inn West End, Richmond
Comfort Inn, Springfield
Hampton Inn, Springfield
Fairfield Inn, Virginia Beach
WASHINGTON
Red Lion Inn, Aberdeen
Best Western Bellevue Inn, Bellevue
Candlewood Hotel, Bellevue
Candlewood Suites, Bellevue
DoubleTree Bellevue Center, Bellevue
Embassy Suites, Bellevue
Full-Service Hotel, Proposed, Bellevue
Qualifications of Suzanne R. Mellen, CRE, MAI
Hampton Inn, Bellevue
Marriott Hotel, Bellevue
Palladium Center Project, Bellvue
Red Lion Inn Bellevue Center, Bellevue
Residence Inn, Bellevue
Ritz-Carlton Hotel, Proposed, Bellevue
Semiahmoo Hotel Company, Blaine
Semi-ah-moo Resort, Blaine
Motel 6, Issaquah
Red Lion Inn, Kelso
Embassy Suites, Lynnwood
Residence Inn, Lynnwood
WestCoast Olympia Hotel, Olympia
Doubletree Hotel, Pasco
Red Lion Inn, Pasco
Red Lion Hotel, Port Angeles
Marriott Hotel, Proposed, Redmond
Residence Inn, Redmond
Hilton Gardens Hotel, Redmond
Hilton Garden Inn, Renton
Red Lion Inn, Richland
Best Western Tower Inn, Richland
Hampton Inn, Sea-Tac
Holiday Inn Sea-Tac, Sea-Tac
Red Lion Hotel, Sea-Tac
Alexis Hotel, Seattle
Doubletree Inn, Seattle
Elliott Hotel, Seattle
Extended-Stay Hotel, Proposed, Seattle
Hampton Inn, Seattle
Holiday Inn Crowne Plaza, Seattle
Madison Hotel, Seattle
Red Lion Hotel, Seattle
Seattle Hotel, Proposed, Seattle
WestCoast Grand Hotel on Fifth Avenue,
Seattle
West Coast Paramount, Seattle
West Coast Sea-Tac Hotel, Seattle
West Coast Vance Hotel, Seattle
Springhill Suites, Seattle
The Bay Silverdale Hotel, Silverdale
Red Lion Inn, Spokane
Courtyard by Marriott, Spokane
Residence Inn, Proposed, Spokane
WestCoast Grand Hotel, Spokane
Red Lion Inn, Spokane Valley
Park Shore Inn, Tacoma
Red Lion Inn, Tacoma
Sheraton Hotel, Tacoma
Doubletree Suites, Tukwila
Embassy Suites, Tukwila
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INTERNATIONAL
Residence Inn, Tukwila
Hampton Inn, Tukwila
Red Lion Inn at the Quay, Vancouver
Residence Inn, Vancouver
Red Lion Inn, Wenatchee
Red Lion Inn, Yakima
WEST VIRGINIA
Holiday Inn Charleston House, Charleston
Charles Town Entertainment Complex,
Charles Town
Charles Town Races, Charles Town
Holiday Inn, Huntington
Howard Johnson"s, Wheeling
WISCONSIN
Fairfield Inn, Auburn Hills
Fairfield Inn, Brookfield
Milwaukee Marriott Hotel, Brookfield
Wyndham Garden Hotel, Brookfield
Fairfield Inn, Detroit
Fairfield Inn, Detroit-West
Super 8 Motel, Jamesville
Super 8 Motel, Kenosha
Fairfield Inn, Madison
Fairfield Inn, Milwaukee
Holiday Inn-Airport, Milwaukee
Holiday Inn-West, Milwaukee
Fairfield Inn, Warren
WYOMING
Days Inn, Casper
Flying L Skytel, Cody
Shilo Inn, Evansville
Four Seasons Resort Hotel,
Condominiums, and Fractionals,
Jackson Hole
CANADA
119-Unit Hotel, Canmore, Alberta
Courtyard by Marriott, Markham
Residence Inn by Marriott, Markham
Fairfield Inn by Marriott, Markham
Courtyard by Marriott, Mississauga,
Ontario
Residence Inn by Marriott, Mississauga,
Ontario
EconoLodge, Hull, Quebec
Le Chateau Frontenac, Quebec
Sutton Place Hotel & Apartments, Toronto
Courtyard by Marriott, Vaughan
FRANCE
Marriott Champs Elysee, Paris
GUAM
Royal Palm Resort, Tuman
Hyatt Regency Hotel, Tuman Bay
Palace Hotel Guam, Tamuning
Proposed Hotel, Tamuning
MEXICO
Hotel & Timeshare Development,
Proposed, Caba San Lucas
Esperanza Hotel, Proposed, Caba San
Lucas
Cancun Casa Magna Marriott Resort,
Cancun
Puerto Vallarta Casa Magna Marriott
Resort, Puerto Vallarta
Omni Hotel, lxtapa
Luxury Hotel Submarket, Los Cabos
Las Hados Resort, Manzanilla, Colima
La Jolla de Mismaloya, Puerto Vallarta
PUERTO RICO
Carib Inn, San Juan
WEST INDIES
Four Seasons Resort, Nevis
VARIOUS
Noble House Hotels & Resorts
Starwood Analysis
Qualifications of Suzanne R. Mellen, CRE, MAI