Tab 3 Executive Summary ITN15TM-122

Transcription

1 Tab 3 Executive Summary ITN15TM-122 We are extremely pleased to present you with our proposal for the use of our Lakeland property as a Student Housing Facility by Florida Polytechnic University for the Academic year starting 08/01/2015. Facility: Suburban Extended Stay Hotel 4335 Williamstown Blvd. Lakeland, FL We propose exclusive and complete use of the entire facility for Student Housing. We propose a fee structure based on the lease of the Suburban Extended Stay Hotel, Lakeland beginning with the 2015 Fall Term. Total of 200 Beds offered in combination of 69 Suites with 2 beds each + 55 Suites with 1 bed each + 7 Handicap accessible Suites with 1 bed each. All Suites have full Kitchens with Refrigerator, Sink, 2 burners Stove top & Microwave. Cost Model based on per Student Bed occupancy per year. Secured High Speed Internet Access (HSIA) with wired/wifi connection of 1 Gbps or higher with fiber optic connection at no cost in all rooms and common areas. Additional Two (2) Suites with King size beds, offered for Florida Polytechnic University Staff Members at no cost. We will install a new Fitness Center, exclusively for Student use at no cost. We will provide Front Office as Student Security Office at no cost. We will provide Three (3) Study Lounges offered at no cost. We will provide Student Package storage area at no cost. We have Student Laundry facility with coin operated six (6) set of washers & Dryers. Total Lease amount calculated at $985, yearly contract for nine (9) month occupancy paid in nine (9) monthly payments. The average cost is calculated at $4,925.92/ Student Bed/Year (9 month occupancy). Average Monthly cost is $ per Student Bed for 9 month occupancy basis. Total Area of Rentable square feet is 38,416 out of that 2,992 sq. feet is offered at no cost. Initial one (1) year term, with options for four (4) additional one (1) year renewals. Should FPU exercise an option to renew after initial year, we are open to the renewal options and considerations. Lease based on use of all Suites by FPU to allow for branding and secured access of property, for safety, security, controlled access etc. The Facility Our 138 suite hotel features accommodations with both one and two beds. In addition, the accommodations are designed with student living in mind offering: Page 1 FEMA Approved Private bath and closet areas (dual storage available in double suites upon completed of proposed FPU modifications) Full kitchen in each Suite with Household-sized Refrigerator, Cooktop and Microwave Individual in-suite study/workstations (upon completion of proposed FPU modifications) Single accommodations available for students desiring private housing Three floors with dedicated stairwell egress in all quadrants; centralized elevator Facility is certified with state, local and fire marshal laws.

2 Property Amenities The Suburban Extended Stay Hotel Lakeland was designed to provide housing for corporate travelers requiring lodging for long-term projects or relocating to the area. With this initial design, the hotel is easily converted to a student housing campus and offers these amenities for the student attending Florida Polytechnic University: Secured High Speed Internet Access (HSIA) with wired/wifi connection of 1 Gbps or higher with fiber optic connection Dedicated local telephone service for students in each Suite at no charge; phone system has the capability for the students to use 800 numbers or calling cards for long distance services Student managed HVAC for individual climate control Direct TV television programming features 32 channel selections with sports and movie programming Dedicated on-property Fitness Center to be installed specifically for the use of Florida Polytechnic University students Dresser storage for each student occupying a double Suite Initial set up of move in linens and bath terry for all students upon request Initial set up of move in kitchen/dining ware provided (dishware, glassware, flatware, pots and pans) Property Services The Suburban Extended Stay Hotel Lakeland will provide the following services to Florida Polytechnic University under a Student Housing Agreement: Full Time on-site property management including: o Property and Suite Maintenance (Equipment Replacement Included) o Grounds Services and Maintenance o Dedicated Equipment Service and Maintenance (HVAC, Kitchen Equipment) o Dedicated Housekeeping Services for Students (Fee Based) Dedicated Property Manager and Staff (with approved background clearance) Secured Student Laundry Facilities (coin-operated) Secured Student Snack/Beverage Pantry for limited on-site light food purchases Mail Services for Students Package Delivery and Storage for Student Deliveries Electronic Secured (Gated) Access to the Property (FPU can install the Property gate entrance) Florida Polytechnic University Branding Two (2) Dedicated University Staff Suites provided to Florida Polytechnic University at No Charge Three(3) Dedicated Student Study Lounges provided to Florida Polytechnic University at No Charge One (1) Student Security Office & Front Office Page 2

3 Suburban Extended Stay Hotel Lakeland was built in 2000 and has been a premier long term stay facility in the Lakeland area since opening. Our all-suites hotel features 138 units, all with full kitchens. Suburban Hotel is located within approximately 11 Miles from the FPU by road. Please see attached Google Map. With our central location to the University, shopping, bank, Mall, movies, activities and transportation, I know the Suburban offers Students of Florida Polytechnic an opportunity to have a safe, secured and comfortable housing center while being within minutes of quality of life amenities. Our company is an experienced hotel company in extended-stay business with development of 13 long term hotels in addition to national franchised brands such as Best Western, Wyndham and Choice Hotels International. Following are bios officers of our organization & History: Tarang Patel, President & CEO Tarang Patel has over 30 years of experience in the hospitality industry. Since 2002, Tarang has been the President/CEO of T. R. Management Corporation. Tarang is responsible for the transactional end of the business as well as investor relations, acquisitions, development, asset management and capital re-investment. Tarang has an education background in management and accounting. He completed his B.B.A. in 1981 in management accountancy. In 1983, he completed his M.B.A in marketing management from the renowned Sardar Patel University of Gujarat, India. In 1995 Tarang successfully completed the requirements for certification as a Certified Hotel Administrator. From 1995 through 2001, the hotel development company, Buckhead America Corporation was on a path of rapid growth where Tarang participated in major strategic decisions and served as Regional Vice President of Operations, responsible for properties with an asset value in excess of $50 Million. Tarang was instrumental in the acquisition and repositioning of hotel assets during this period. In January 2002, Tarang formed T. R. Management Corporation which became the foundation for the successful development of a national hotel brand. Tarang developed, built and operated a multitude of extended stay properties throughout the United States while managing mid-scale and select service hotels for several asset management companies, RIETs and ownership groups. At T. R. Management Corporation, Tarang has been responsible for the third party management, development, and acquisition of more than 27 assets with an aggregate value of more than $150 Million. In his role as CEO, he has helped build asset value through turnaround processes including forensic accounting, aggressive sales and marketing programs, clinical operations and timely and accurate financial controls and reporting. Tarang and his family reside in Ormond Beach, Florida Page 3

4 Keith Green, Vice President Keith Green has over 27 years of experience in hotel operations. Starting with Hilton Hotels as an Intern through management responsibilities for 13 select-service hotels, he has supervised over $45 million dollars in real estate assets at one time including new property openings and conversions. In his role as Corporate Vice President with T. R. Management Corporation, Keith is responsible for overseeing the operations, human resources and risk management departments along with the sales and marketing efforts for all properties owned and managed by T. R. Management. Keith began his career in hospitality financial management and accounting prior to transitioning to hotel operations. He has served in the role of Controller for Sheraton hotel properties and as General Manager where he received recognition as both General Manager of the Year and Hotel of Year, including a nomination as Choice Hotel International s Franchised Hotel of Year prior to his transition to multi-unit management. In his role as Regional Director of Operations for HLC Hotels, he had oversight for hotels in the Southern United States. Keith is a Certified Hotel Administrator and has a Bachelor s Degree in Business Administration and Finance from the University of Alabama/Huntsville. He has participated in Executive Leadership classes from the Cornell School of Hotel Administration and has served on the boards of several city tourism authorities. Currently, he serves on the Best Western Florida Marketing Co-Op Board in the role of Treasurer. Keith and his family have resided in Jacksonville, Florida for the past 18 years. Thomas Spencer, Controller Thomas Spencer is Certified Hotel Accountant having more than 30 years of progressive hotel accounting experience. His primary professional experience is multi-property and full service hotel as controller. Thomas has been our controller since the inceptions of T. R. Management Corporation. Page 4

5 Thomas Spencer as Granted a Bachelor of Arts Degree from the College of business Administration with a major in Accounting from the University of South Florida in Tampa. Additionally, Thomas satisfactorily completed the requirements of the University of South Florida Cooperative Education Program while working for a major CPA firm, Arthur Young and Company, Tampa Florida. Thomas entered into the hospitality industry as Treasurer/Controller for continental Country Club Community in Wildwood, Florida, along with their subsidiary, Timber Shores Resort, Northport MI. After a proven track record, Thomas was hired as controller at Arnold Palmer s Bay Hill Club and Lodge in Orlando, Florida, a hotel/country club resort where he continued developing his experiences in the hospitality industry. Here Thomas also gained valuable experience handing the accounting functions and controls of the nationally televised and famous tournament, The Hertz Bay Hill Classic. Thomas had the opportunity to become the Corporate Controller for two franchise Hilton properties in the Orlando area managed by F.M. Hamilton Investments, Hilton Inn Florida Center, Orlando, Florida; and Hilton Inn Gateway, Kissimmee, Florida. Here he continued to develop his skills as a controller in the fast track resort area surrounding Walt Disney World. Thomas joined Hotel Management Group, Inc. as Chief Financial Officer and Controller for the Daytona Beach Marriott, and two other managed properties, Avenue Plaza L.L.C. New Orleans, LA. and Ocala Radisson, Ocala, FL. Thomas became the controller eight locations owned and managed by Cypress Companies. In 2001 Thomas moved over to their premier property Sheraton Orlando North as there Controller. Thomas is a member of the International Association of Hospitality Accountants, a professional organization promoting high standards of recognition for its members. On October 18th, 1988, Thomas received the designation of Certified Hospitality Accountant Executive, CHAE, for demonstrating knowledge and competency in hospitality financial management through passage of a comprehensive certified examination and prescribed standard of education and practice. Page 5