RFQ SUBMITTAL REQUIREMENTS

Transcription

1 : La Quinta w/ Firestone, Parker & Bowles RFQ SUBMITTAL REQUIREMENTS A. Describe Developer Vision for the site StonePark Capital, in partnership with Pacific Inns, LLC appreciates the opportunity to respond to the RFQ for purchase and development of property located at 2212 Beach Boulevard, Pacifica, CA. StonePark Capital has a strong team that is active in hotel development, with two new hotels currently under construction. With decades of combined industry experience, StonePark Capital and Pacific Inns will comfortably meet the requirements of the RFQ, joining the City in further growing a vibrant and sustained commercial environment. StonePark Capital provides a strong financial arm which is ideally supported by veteran hotel operators, Pacific Inns. We have partnered together on multiple ventures and have successfully delivered outstanding projects with efficient schedules. Our project will support Pacifica s vision for continued economic development while becoming dedicated supporters of the community. These efforts include, but are not limited to, the following: 1. Creation and retention of jobs in Pacifica serving the hotel, food and beverage management industries which will support the growing downtown businesses and hospitality industry 2. Increase in the selection of hotel accommodations with the addition of high quality upper midrange priced hotel space 3. Increase Pacifica city transient occupancy tax 4. Creation of public meeting space locations 5. Sustained multi media marketing across national and international channels to increase tourism and recognition of Pacifica as a choice Bay Area destination We further intend to partner with the Pacifica Chamber of Commerce and Visitor Center to maximize our efforts and find vehicles to work together and grow the local hospitality industry. We firmly believe that the addition of a high quality hotel product will create expanded opportunities for Pacifica market itself as a unique oceanfront destination. Our presence in the market will help grow the economic vitality surrounding Beach Boulevard and Palmetto Avenue and enable recycling of dollars within the city of Pacifica. We estimate more than 70 jobs will be created, providing employment options for people already in the Pacifica community. Our longevity and knowledge of the hotel and hospitality market and experience in all phases of a hotel from development through high level of sustained operation makes us an ideal choice for the purchase and development of the property on Beach Boulevard. We have a proven track record of developing quality projects, and will move forward with development immediately upon approval of all prerequisites.

2 : La Quinta w/ Firestone, Parker & Bowles StonePark Capital and Pacific Inns are thrilled at the prospect of bringing a new ground up construction hotel to Pacifica. Over the past 12 months, the team has been analyzing the local hospitality market, and believe in the viability of this project as supported by collected data. A new construction hotel project will provide support to the downtown, and help Pacifica achieve its full potential within the tourism and hospitality arena. We recognize the importance of supporting smart growth in this community, and we believe that our hotel will help create a strong balance serving the future growth of restaurants and retail. Further, we believe that the Project TOT will contribute to City programs and operations which benefit all residents of Pacifica. It is our intent to work in partnership with the City in order to design a project that meets the requirements and vision for this particular space. There are certain basic requirements which are integral to achieving financial feasibility, but we expect to incorporate design considerations which will make this a welcome addition to the downtown. Accordingly, we are sensitive to the impact of the look and feel of the construction. We hope you will find our proposal exciting and look forward to working with you if awarded this Project. B. Site Specific Questions, see attachment A C. Developer/Operator Team The lead development firm will be StonePark Capital. StonePark is a Santa Barbara based hospitality development company founded by Andrew Firestone and Jess Parker. With four hotel projects either complete or in development, the team of Andrew Firestone and Jess Parker has proven to be extremely competent in building smart projects in communities with strict development guidelines such as Santa Barbara, San Luis Obispo and San Jose. StonePark is also a preferred developer for La Quinta Inns & Suites. This designation is rare because it means, Andrew and Jess have been given access and support of the brand, and complete access to the many resources of the company. Andrew Firestone In 1994, Andrew was first introduced to the hotel business working in project management for Shilo Inns in Portland, Oregon. Under the tutelage of the Rodger and Rodney Forni (Founders of Pacific Inns) Andrew held positions in both operations and development for the 52 hotel, independent chain. Andrew then continued his career in institutional finance, working with BancBoston Robertson Stephens in San Francisco, initially in OTC Trading and subsequently managing the trading activity of a $500 million portfolio for the largest Private Client Broker team at the firm. He was then hired by HIFX Inc, a foreign exchange specialist, to open their first office in the US. In 2008, Andrew was hired as Director for Ty Warner Hotels and Resorts, which has a portfolio of high end hotels and golf courses, including both Four Seasons and Rosewood Resort products. Hired in 2010 as Senior Vice President at West Coast Management, Andrew focused on developing the hospitality division, in both acquisitions and new development. In the fall of 2014 Andrew and Jess Parker founded StonePark Capital in order to focus on both development and acquisition opportunities in hospitality. Jess Parker After a decade of experience in private equity and asset management, in 2012 Jess coordinated a $14M purchase of the 70 room El Prado Inn in downtown Santa Barbara. In addition to the acquisition of the property, Jess was also was Project Manager, and oversaw the $4.5M renovation

3 : La Quinta w/ Firestone, Parker & Bowles and rebrand of the project to a La Quinta Inns and Suites product. More recently, he has taken the lead in two new ground up development projects in San Luis Obispo, and Morgan Hill, California, both expected to be complete in In addition to his hands on role in development, Jess is also focused on identifying new hospitality investment opportunities. Jess is also Vice President at his family s charitable foundation called the Hutton Parker Foundation, which is a $102M charitable foundation located in Santa Barbara, with approximately 60% of its assets in real estate. The operator and other key members of the development team include: Pacific Inns is a full service, award winning hospitality management, development and consulting company. Founded in 1992 by Rodger Forni, Pacific Inns offers a diverse range of hands on services to its guests across multiple brands throughout the United States, from individually owned boutique hotels to major national franchises. Presently, Pacific Inns operates 21 unique and distinctive properties, many of which are owner operated or joint venture operations specifically created for designated properties. Pacific Inns has developed, co owned, managed or consulted on over 100 hotels from limited service to full service luxury properties. Rodger Forni Rodger Forni has been developing and managing hotels since In the early years of his career he developed over 2,000 rooms in 24 new hotels and motels for an independent west coast chain; mostly ground up projects ranging from limited service to four star, full service properties with restaurant and convention space. Since 1992, Rodger has independently developed, co owned, managed or consulted on over 100 hotel properties from limited service to full service luxury properties. Since then, Pacific Inns has provided a full range of hands on hospitality management and development consulting services to numerous clients from several one site, individual owner projects to major national brand developments, like La Quinta Inn & Suites, InterContinental Hotel (Holiday Inn Express & Suites, Staybridge Suites, Candlewood Suites), Choice Hotels (Comfort Inn & Suites, Sleep Inn & Suites, and Quality Inn & Suites). Rodney Forni: Rodney joined his brother Rodger at Pacific Inns in 1996 as the Chief Operations Officer. Since this time, Rodney has been integral in helping to make Pacific Inns a leader in hospitality management and development consulting. As COO, Rodney focuses on developing and maintaining working relationships with partner companies to deploy management processes as well as selecting appropriate product delivery strategies for clients. In addition to specializing in existing property capital expenditure projects, Rodney offers a depth of knowledge in information technology, television and telecommunications systems. Prior to his career at Pacific Inns, Rodney worked for an independent west coast hotel chain for 20 years where he developed, managed and directed facility operations for 50 hotels. During this time, Rodney oversaw all construction, renovation and maintenance operations. Responsibilities within his role included managing purchases, developing and supervising staff and inspecting facilities to ensure company standards, safety procedures and project objectives were met. Today, Rodney applies his extensive background with hands on dedication to every facet of managing client relationships and projects at Pacific Inns.

4 : La Quinta w/ Firestone, Parker & Bowles Shirley Stewart, Director of Operations Since 1978, Shirley has been closely involved with the hospitality industry. Shirley s areas of expertise include: revenue management, cash flow, AR, AP, financial reporting, budgets, proformas and all areas of human resources including development of policies and procedures, staffing, payroll and employee benefits. Early in her career, Shirley worked with real estate acquisition, closing and development where she facilitated the purchase, refinance and/or sale of over $200 million in commercial hospitality assets. Her career grew to include cash flow management for a privately owned hospitality chain with annual revenues in excess of $100 million, encompassing 45 hospitality assets, plus 26 restaurant operations. Negotiating service contracts for FF&E, suppliers and food vendors to maximize profitability and centralize purchasing led to implementation and cost savings in excess of $400,000 annually. In addition, Shirley served as the Wage and Hour Committee Chairperson where she controlled labor expenses for over 2,500 employees in multi state locations. Rita Burch Rita brings over 30 years experience in the hospitality industry to the Pacific Inns team. Early in her career, Rita functioned as a server, cook, and room attendant at a small bed & breakfast and steak & seafood restaurant in Alabama that her parents owned and operated. Since then, she has worked in all areas of hotel operations, learning the industry from the ground up by working for a variety of management companies and brands. After attaining a Bachelor of Science degree in Business Administration as well as her Hotel Administrator Certification, Rita s hospitality career continued to advance with responsibilities as front desk clerk, guest service manager, executive housekeeper and director of sales. References: Hotel: Rajiv Trivedi Executive Vice President & Chief Development Officer La Quinta Inns & Suites 909 Hidden Ridge, Suite 600 Irving, TX (214) O (214) F (469) C Rajiv.trivedi@laquinta.com David Wilner Senior Vice President of Franchise Development La Quinta Inns & Suites 909 Hidden Ridge, Suite 600 Irving, TX (214) office

5 : La Quinta w/ Firestone, Parker & Bowles (505) cell (972) home Financial Relationships: Nathan Raizman Vice President/Relationship Manager, Rabobank, NA 300 E. Esplanade Dr., Ste. 110, Oxnard CA (805) Bastian Rose President/Owner MB2 Management LLC Phone (425) Public or Government Relationships: Lee Johnson Office of Economic Development Office for San Luis Obispo, CA 990 Palm Street, San Luis Obispo, CA (805) Edith Ramirez Principal Planner for Economic Development for Morgan Hill, CA Peak Avenue, Morgan Hill, CA (408)

6 ATTACHMENT A Questions from RFQ Page 15 Please respond to the following questions given the information available to you now 1. Would you consider phasing the hotel construction? The hotel and supporting structures would be built in one phase in order to most efficiently move through the construction process. A layered development would negatively impact the opening of the hotel while being a nuisance to neighbors in the community. 2. If a podium was chosen for all or part of the site, could it be engineered and built in phases, and is that financially feasible compared to building it all at once? We would expect the podium to be built in one phase for the same reason as above. 3. Where would you want the hotel to have street frontage? Beach Boulevard. 4. Where would you want access and exiting for the hotel? Palmetto and Beach Boulevard. 5. What is maximum and minimum number of hotel rooms that you would consider at this site? Maximum rooms of 120, minimum 90 rooms. 6. Do you recommend adding residential uses or another use to the site in addition to the hotel? We do not recognize a need for creating additional residential, but would need to include a restaurant on the corner of Montecito and Beach Boulevard. 7. Are conference facilities valuable to your vision, either on or off the site, and for what audience? Yes, we envision including conference facilities, and would consider having them be a shared opportunity with the proposed library. The conference space would be marketed for destination, commercial use. 1

7 8. Do you commit to supporting the existing Hotel Business Improvement District (BID) and a potential BID on Palmetto Avenue? Yes. We believe that a BID would be crucial to market and promote Pacifica to a broader audience. Our team has had active roles on BID s and TBID s where we have properties, and we recognize the hospitality industry plays a crucial role in the successful marketing for tourism. 2

8 ATTACHMENT B DOCUMENTING EXPERIENCE THAT MEETS ELIGIBILITY CRITERIA COMPARABLE HOTEL DEVELOPMENT EXPERIENCE #1 Describe experience comparable to the project you envision on the Beach Boulevard Hotel Site using this form. Use one form for each comparable project. Form available at 1. Developer / Operator Name: StonePark Capital 2. Project Name, Address and Web Site: Monterey Hotel, 1865 Monterey St., San Luis Obispo 3. Proposer Name on that Comparable Project (if different than above): 4. Proposer Role (i.e., managing partner, limited partner, consultant, etc.) Managing partner. 5. Current Project Status (predev, in construction, in operation) In construction. 6. Is Hotel Development a Development Contract with Government, on the Coast, in a Downtown or a Commercial Business District? It s in Uptown San Luis Obispo. 7. Total Hotel Building Area (sf), Hotel Site Area (sf). 60,000 sq. ft. 2.5 acres. 8. Total Number of Guest Rooms: Range of Guest Rooms Size (sf) 330 to Total Area committed to Restaurants, Retail or Spa Services (sf by use. List name, operator, describe role in creating a destination hotel) 5,200 sq. ft restaurant, third party operated. 11. Total Area committed to Hotel Dining Room if different than above (sf) Select service hotel so no dining room. 12. Total Area of Meeting or Banquet Facilities (sf by type) 900 sq. ft. meeting area. 13. Green Building Features (if any) Living wall, high efficiency fixtures 14. Construction Type (name material, i.e., wood, plaster, stucco, etc.) wood framed construction 3

9 15. Construction Start Date (actual or estimated) 10/1/15, actual 16. Construction Completion Date (actual or estimated) 4/1/17, estimated 17. Total Development Cost $24,000, Financing: Sources of Funds (Debt & equity) 45% equity, 55% debt 19. Financing Contact Info (list entity, contact name, and phone number for each source even if also listed under references) 20. ATTACHMENT B DOCUMENTING EXPERIENCE THAT MEETS ELIGIBILITY CRITERIA COMPARABLE HOTEL DEVELOPMENT EXPERIENCE #2 Describe experience comparable to the project you envision on the Beach Boulevard Hotel Site using this form. Use one form for each comparable project. Form available at 1. Developer / Operator Name: StonePark Capital 2. Project Name, Address and Web Site: Morgan Hill La Quinta, Condit Rd, Morgan Hill, CA

10 3. Proposer Name on that Comparable Project (if different than above): 4. Proposer Role (i.e., managing partner, limited partner, consultant, etc.) Managing Partner 5. Current Project Status (predev, in construction, in operation) in construction 6. Is Hotel Development a Development Contract with Government, on the Coast, in a Downtown or a Commercial Business District? 7. Total Hotel Building Area (sf), Hotel Site Area (sf). 55,000 sq. ft., 2.7 acres 8. Total Number of Guest Rooms: Range of Guest Rooms Size (sf): 330 to Total Area committed to Restaurants, Retail or Spa Services (sf by use. List name, operator, describe role in creating a destination hotel) Third party restaurant (not yet built) 11. Total Area committed to Hotel Dining Room if different than above (sf) 12. Total Area of Meeting or Banquet Facilities (sf by type) 750 sq. ft. 13. Green Building Features (if any) high efficiency fixtures 14. Construction Type (name material, i.e., wood, plaster, stucco, etc.) wood frame construction 15. Construction Start Date (actual or estimated) 6/1/ Construction Completion Date (actual or estimated) 4/30/16, estimated 17. Total Development Cost: $14,500, Financing: Sources of Funds (Debt & equity) 55% debt, 45% equity 19. Financing Contact Info (list entity, contact name, and phone number for each source even if also listed under references. Private lender. 5

11 20. ATTACHMENT B DOCUMENTING EXPERIENCE THAT MEETS ELIGIBILITY CRITERIA COMPARABLE HOTEL DEVELOPMENT EXPERIENCE #3 Describe experience comparable to the project you envision on the Beach Boulevard Hotel Site using this form. Use one form for each comparable project. Form available at 1. Developer / Operator Name: StonePark Capital 2. Project Name, Address and Web Site: La Quinta Santa Barbara, 1601 State St Proposer Name on that Comparable Project (if different than above): 4. Proposer Role (i.e., managing partner, limited partner, consultant, etc.) Managing partner 5. Current Project Status (predev, in construction, in operation) In operation currently, but in predevelopment on a 54 room expansion. 6

12 6. Is Hotel Development a Development Contract with Government, on the Coast, in a Downtown or a Commercial Business District? In downtown Santa Barbara. 7. Total Hotel Building Area (sf), Hotel Site Area (sf). 35,000 currently, 52,000 after the expansion. 1.7 acres. 8. Total Number of Guest Rooms 70 currently, 124 after the expansion. 9. Range of Guest Rooms Size (sf) 250 to Total Area committed to Restaurants, Retail or Spa Services (sf by use. List name, operator, describe role in creating a destination hotel) 350 sq ft salon/spa. 11. Total Area committed to Hotel Dining Room if different than above (sf) 12. Total Area of Meeting or Banquet Facilities (sf by type) Green Building Features (if any) solar pool heater/proposed green roof. 14. Construction Type (name material, i.e., wood, plaster, stucco, etc.) wood frame construction 15. Construction Start Date (actual or estimated) 16. Construction Completion Date (actual or estimated) 17. Total Development Cost Estimated $35 million 18. Financing: Sources of Funds (Debt & equity) estimated $15 million equity $20 million debt 19. Financing Contact Info (list entity, contact name, and phone number for each source even if also listed under references) Current loan is with Rabobank. 7

13 20. ATTACHMENT B DOCUMENTING EXPERIENCE THAT MEETS ELIGIBILITY CRITERIA COMPARABLE HOTEL DEVELOPMENT EXPERIENCE #4 Describe experience comparable to the project you envision on the Beach Boulevard Hotel Site using this form. Use one form for each comparable project. Form available at 1. Developer / Operator Name: Pacific Inns 2. Project Name, Address and Web Site: Cannery Pier Hotel, Astoria, Oregon 3. Proposer Name on that Comparable Project (if different than above): 4. Proposer Role (i.e., managing partner, limited partner, consultant, etc.) Co developer/operator 5. Current Project Status (predev, in construction, in operation) In operation 6. Is Hotel Development a Development Contract with Government, on the Coast, in a Downtown or a Commercial Business District? On a pier over the water 8

14 7. Total Hotel Building Area (sf), Hotel Site Area (sf). 25,000 sq ft, 8. Total Number of Guest Rooms: Range of Guest Rooms Size (sf): Total Area committed to Restaurants, Retail or Spa Services (sf by use. List name, operator, describe role in creating a destination hotel) 1200 sq ft spa 11. Total Area committed to Hotel Dining Room if different than above (sf) 12. Total Area of Meeting or Banquet Facilities (sf by type) 450 sq ft meeting room, 1000 sq ft meeting room 13. Green Building Features (if any) 14. Construction Type (name material, i.e., wood, plaster, stucco, etc.) wood and concrete dock over Columbia river, built on a pier 15. Construction Start Date (actual or estimated) Jan Construction Completion Date (actual or estimated) July Total Development Cost $6.5 million 18. Financing: Sources of Funds (Debt & equity) 20% equity, 80% debt 19. Financing Contact Info (list entity, contact name, and phone number for each source even if also listed under references) 9

15 ATTACHMENT B DOCUMENTING EXPERIENCE THAT MEETS ELIGIBILITY CRITERIA COMPARABLE HOTEL DEVELOPMENT EXPERIENCE #5 Describe experience comparable to the project you envision on the Beach Boulevard Hotel Site using this form. Use one form for each comparable project. Form available at 1. Developer / Operator Name: 2. Project Name, Address and Web Site: 3. Proposer Name on that Comparable Project (if different than above): 4. Proposer Role (i.e., managing partner, limited partner, consultant, etc.) 5. Current Project Status (predev, in construction, in operation) 6. Is Hotel Development a Development Contract with Government, on the Coast, in a Downtown or a Commercial Business District? 7. Total Hotel Building Area (sf), Hotel Site Area (sf). 8. Total Number of Guest Rooms 9. Range of Guest Rooms Size (sf) 10

16 10. Total Area committed to Restaurants, Retail or Spa Services (sf by use. List name, operator, describe role in creating a destination hotel) 11. Total Area committed to Hotel Dining Room if different than above (sf) 12. Total Area of Meeting or Banquet Facilities (sf by type) 13. Green Building Features (if any) 14. Construction Type (name material, i.e., wood, plaster, stucco, etc.) 15. Construction Start Date (actual or estimated) 16. Construction Completion Date (actual or estimated) 17. Total Development Cost 18. Financing: Sources of Funds (Debt & equity) 19. Financing Contact Info (list entity, contact name, and phone number for each source even if also listed under references). 11