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The Hampton Inn Alamogordo has just been listed for sale. This is a market where someone could construct a new Comfort Suites as well, and there is land available near the Hampton.

By Eric Stoessel
Calling it a “social experiment,” Marc Heisterkamp of the U.S. Green Building Council led an interactive session at the HD Conference last week aimed at defining LEED standards specifically for the hospitality industry.

Heisterkamp and a panel of industry experts opened the session, “Talk is Cheap: Defining Standards for Hospitality,” before around 200 attendees broke into round-table groups to discuss green lodging standards in different categories. Heisterkamp was going to take reports from each table to the USGBC for consideration in creating hotel-specific LEED standards.

Heisterkamp admitted current LEED standards aren’t ideal for the hotel industry and the USGBC was looking at a new classification system, much like it did with LEED for Schools. A benefit of the lodging industry, he said, was that hospitality sells experience. If that experience is green it can affect a huge number of people. Currently there are 200 lodging properties working with LEED and only 10 that are already certified. Improving those numbers will increase awareness and better the green movement.

Heisterkamp said the process of creating a new rating system would take at least six months for approval and the session was “just the start.” Ray Burger, of Pineapple Hospitality, was hopeful that a new rating system could be in place sometime during the first quarter of next year.

This site is located adjacent to the new Holiday Inn Express site - that property is currently under construction. There is an exterior corridor Comfort Inn downtown that drops the flag in September 2008, and Comfort Inn has a replacement (conversion) deal signed at the Southwest end of town.

The Logan airport is seeing good growth, as is Utah State University. Check out Logan Economic Development for additional details.

For specifics on the site itself, you can view the aerial and listing information here: Logan Comfort Suites Site (52)

This is a unique Comfort Suites opportunity, as the site will contain retail on the first floor. The developer is open to possibly joint venture or explore other options.

New Castle is located 9 miles West of Glenwood Springs, which is a market that has fantastic performance numbers, and the only other hotel in town is a Rodeway Inn.

For more information check out the site plan with the link below and then call me for further details:

http://picasaweb.google.com/cogginsstewart/NewCastleCenter

You can also view more information on the developer at their website here:

http://www.coggins-stewart.blogspot.com/

Below is a link to the Colorado Department of Revenue general information concerning the Colorado Enterprise Zones.

http://www.revenue.state.co.us/fyi/html/generl06.html

You may want to do some additional research into the Investment Tax Credit and the New Business Facility Jobs Credits.

Also check out TIF (Tax Incremental Financing) options with local authorities to gain possible additional tax breaks.

Check out this article for surprising results of a 1031 exchange and reasons why you should always work with a dedicated professional in such transactions… I recently worked on a deal involving a 1031 exchange into a new construction hotel - there are definitely hurdles to overcome but it can be done!

FindArticles - Advice on selling your hotel in a 1031 exchange
Real Estate Weekly, Nov 14, 2007, by Pamela A. Michaels

I’ll be available in the marketplace both Wednesday and Thursday… call or email to set up a time to get together!

John

Choice Hotels has a terrific resource available that will guide you through your first hotel development project. The 68 page handbook includes sections on site selection, financing, etc. and also has a terrific project timeline taking you through the entire process up through opening.

The hotel development handbook can be downloaded at:

http://www.choicehotelsfranchise.com/em/pdfs/development_handbook.pdf

Interested in buying a property in Hawaii? There is actually a lot of upside to be had by franchising an existing independent hotel in the area… and there are many opportunities available if you don’t mind the fact that practically all of them are located on leased land. In the right situation, though, this is a very profitable market. Click below to see a recent HVS report on Waikiki:

 http://www.hvs.com/Jump/?aid=3217

Westcreek (Parker, CO) – Westcreek is located on the SWC of Parker & E-470 in Parker, CO. The development will be a 40+ acres and will include retail, medical office, hospitality, entertainment, and residential. We have signed Jackson’s American Grill, Big 5 Sporting Goods, Smiling Moose Deli, and Mile High Bank to the retail portion of the project. We are actively working with an entertainment user to take down an additional 3.12 acres of the site. This site will provide Comfort Suites with great visibility to E-470, Parker Road, and Twenty Mile Road.

104 unit Quality Inn and Suites Hotel for sale in Albuquerque, NM. For

This site is located adjacent to a brand new business park that is currently underway. Waverly is located just a few miles East of Lincoln and the city is very interested in seeing a Comfort Inn & Suites come in. For more information on the town please call Doug Rix at the City of Waverly’s Economic Development Office.
Waverly Hotel Site