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quoted-printable Content-Type: text/html; charset="us-ascii" Four Hotel Portfolio
Doubletree Hotel, Plymouth Meeting, PA
Re= tained by the institutional financial partner in a hotel acquisition= and management company to provide a second opinion on the = proposed purchase of f= our full-service hotels containing a total of 1,316 rooms. A two week = period was allowed to = review financials, operating projections, property condition
ma= rket area of the property did not favorably support projected cash flows.  As a result further study was cond= ucted of the garage and the market prospects and our view was largely confirmed and = the acquisition of the fourth hotel was not consummated.
3DCIMG5375
Sheraton Hotel, Stamford, CT
3DCIMG5445
Sheraton Hotel, Milwaukee, WI
Embassy Suites, Richmond, VA
3D"Embassy 3D"Sheraton
Four Hotel Portfolio - Due Diligence Review
re= ports, conduct site visits, assess the market and report.  Our timely recommendations allowed the acquisitio= n of three of the four hotels to proceed as planned.  For one hotel we advised that t= he deteriorated condition of the parking garage likely far exceeded budgeted estimates, and the location and
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