Hi All,
Looking at a hotel development and building out a model. Greatly appreciate any feedback on the following:
- How do I determine how many keys I can fit?
- How efficient are the rooms? IE. if I can build 100,000 GSF, should I assume 70-75% efficient so I can get 70,000 NSF and lets say rooms are 200 SF I can get 350 keys? I know there will be other amenity/common space etc, but just for BOE math.
- Any VERY rough idea on hard/soft costs? Will be in Nashville.
- This will not be luxury but will either be select service, or maybe one step above similar to like a moxy or hard rock.
- How do the management contracts work, as I will not be operating. What % do they normally take?
- What do operating expense ratio's look like?
- Rough occupancy projections?
Appreciate it.
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