ADVISORY SERVICES || TRANSACTION

ADVISORY SERVICES || TRANSACTION SERVICES || PROJECT MANAGEMENT || ASSET MANAGEMENT
BOSTON
UNTED STATES HEADQUARTERS
46 WALTHAM STREET, SUITE 208
BOSTON, MA 02118
UNITED STATES OF AMERICA
+1‐617‐451‐1701
DOHA
MIDDLE EAST HEADQUARTERS
Al FARDAN OFFICE TOWER, LEVEL 9 OFFICE 939
DOHA, QATAR P.O. BOX 31316
+974 (44) 10‐1560 Table of Contents
Overview .
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Investor Clients
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Advisory Services
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Transaction Services .
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Project Management .
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Operational Asset Management .
Leadership, Key Personnel
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Exhibits .
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NoMad Hotel, New York, NY, USA
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“Lounge 93” at Marriott Munich Hotel, Munich, Germany
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Overview
 Operating globally, founded in 1999 by lodging industry leader Tom Engel
 Competitive edge = Exceptional leadership:
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AXA/Equitable Real Estate – Global Lodging Head
Millennium Copthorne – President, CEO
Hilton, Starwood – Vice President
DoubleTree by Hilton – Senior Vice President
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Embassy Suites/ Crowne Plaza Hotels/ Hawthorn Suites
Hotels – Creator of each brand
The Procaccianti Group – Calpers Hotel Portfolio Asset
Manager
Invesco Real Estate – Chairman Hotel Fund I, Advisor Fund II
 Integrated service menu, results driven
 TRE works globally on diversified, challenging lodging assignments
Sheraton Prince de Galles, Paris, France
Sheraton Royal Orchid, Bangkok, Thailand
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Investor Clients
 Documentable results achieved for these significant, global hotel investors 4
Advisory Services
TRE’s Advisory Services can help Investor Developers
identify, reduce hotel investment risks…from a project’s
inception
 TRE Market and Hotel Report
 Market and competitive set research
 Property, brand management meetings
 Pro forma creation
 New hotel business positioning
 Actionable recommendations
Banana Island Resort Doha by Anantara
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 Hotel programming
TRE Market and Hotel Report; Hotel programming;
Brand operator search; Management agreement
negotiation
 Design critiques
 Brand operator search, selection
 Management agreement negotiation
 Comprehensive repositioning, redevelopment
Hampton Inn & Homewood Suites Chicago CBD
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TRE Market and Hotel Report; Hotel programming;
Design critiques; Ongoing Advisor to Equity Investor
Transaction Services
TRE’s global hotel transactions’ experience will
augment the Investor’s underwriting, helping reduce
risk
 Platform for underwriting debt and/or equity
investment risk…from start through closing
 Investment pro forma, capitalization model,
projected returns
Munich Marriott Hotel
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 Hiring, then managing all legal, physical, MEP,
environmental specialists’ work
Sell‐Side: Hold/Sell Analyses; Brokerage Selection;
Investment Memorandum; Comprehensive Due
Diligence Support; Closing
 Assessing, negotiating hotel management
agreement, renegotiating (when feasible)
 Assessment brand, management; changing
both when feasible
SLS Hotel South Beach
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Buy‐Side: TRE Market and Hotel Report; Physical and
Environmental
Review;
Financial
Modeling;
Negotiation of Management Agreement
Project Management
TRE can represent an Investor during the critical pre‐
development stage…when maximizing product quality,
eliminating avoidable development costs is key
 Platform for managing capital improvements from
“idea…through execution…to on time, on budget
completion…”
 Competitively bid, hire, then manage all
physical, MEP, environmental, GC work
Crystal City Virginia Marriott
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$7M Renovation
Comprehensive Project Leadership
 Manage all redevelopment team meetings
 On‐site supervision of GC, all improvements
 Manage all draws, accounting services
San Francisco Stanford Court Hotel
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$32M Renovation
Comprehensive Project Leadership
Operational Asset Management
Hotels are operating businesses. TRE brings
competitively superior operational experience, a
documented record of producing record hotel profits…
the essential expertise needed to maximize Investors’
returns
 ‘Managing the manager’ – uniquely accomplished
asset managers asset managing the entirety of hotel
 Create TRE RoadMap – “where do we go, how
do we get there the quickest?”
NoMad Hotel, New York
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Underwrote investment for Private Equity Fund Investor; Rank #1 of 6 comp set ADR; Successful exit at estimated 1.4X development cost
 Annual business planning, capital budgeting
 Continuous reviews, reporting of operating
results, on site meetings
 Weekly management conference calls
 Investor focused, profit‐driven
Renaissance Schaumburg Convention Center Hotel
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Governmental Investor; Increased full‐year Net House Profit by $1.8M/45% within first 12 months of being retained
Leadership, Key Personnel
Thomas R. Engel, President
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Executive Vice President, AXA/Equitable Real Estate Investment Management, Founded Global Lodging and Leisure Group
Created/Co‐created three lodging brands – Embassy Suites, Crowne Plaza Hotels & Resorts, Hawthorn Suites Hotels by Wyndham
Group Brand Manager, Unilever, Inc., New York City; Director of Marketing, Revlon, Inc.
Director, Eagle Hospitality Properties Trust (NYSE: EHP)
Adjunct Professor, Boston University, School of Hospitality, Vice‐Chairman, Advisory Board
American Hotel and Lodging Association (AH&LA), Member, Investment Committee, Management Committee
Graduate, Northwestern University, President’s Leadership Council; Graduate, University of St. Thomas
Veteran, United States Marine Corps, VMA‐131 Air Wing
James J. Flynn, Senior Managing Director
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Extensive upper upscale and luxury hotel operations, food and beverage, operations finance experience
Managing Director, Five‐Star Boston Harbor Hotel
Vice President, Operations, Hilton Hotels Corporation; Senior Vice President, Operations‐Promus Hotel Corporation; Doubletree
Hotels Corporation; Guest Quarters Suite Hotels
Responsible for Harrison Conference Centers
Founding Member, Beacon Hotel Corporation
Graduate, Cornell University, School of Hotel Administration
Edouard A. Gremlich, Senior Managing Director
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Extensive upper upscale and luxury hotel development, operations, finance and accounting experience
President, Castle & Cooke‐Lanai, Hawaii, five star resorts and all private homes’ real estate sales and development
President, Millennium‐Copthorne, took company public
27+ year worldwide career with ITT Sheraton; six (6) years Director of Finance, Hawaii, Sheraton ITT Corporation
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Leadership, Key Personnel
Matthew S. Engel, Senior Vice President
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12+ years diversified real estate, capital markets, hotel asset management experience
Partner, Managing Principal, T.R.ENGEL Group—Middle East, LLC
Calpers Portfolio Hotel Asset Manager, The Procaccianti Group, leading independent owner/operator
Former Associate, Holliday Fenoglio Fowler, real estate investment sales, New York City
Advanced Computer Certification, University of California, San Diego
Graduate, Hamilton College, Public Policy Major
Dennis R. Twining, Senior Executive, Transaction Services
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25+ years of international commercial real estate and hospitality experience with both public and private companies
President and Owner, Twining Capital Partners, an advisory/directorships and PE investments holding vehicle
Chairman, INVESCO Real Estate Hotel Fund I, Advisor to Hotel Fund II
Lazard Brothers & Co, London, Executive Director; Member of the Board and founder of Lazard Brothers’ real estate and lodging
corporate finance sector specialization
Salomon Brothers International, London/NY, Vice President, headed European marketing of US real estate and hotel backed debt
and equity
Graduate, New York University, University of Michigan, Metallurgical Engineering
Dan Stearns, Senior Executive, Project Management
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Senior Vice President Business Development, Imison USA, LLC
Executive Vice President Facilities and Development (Blackstone private ownership), Extended Stay Hotels, oversaw internal Real
Estate, Development and Facilities Department with an annual budget of $40 million
Executive Vice President Acquisitions and Development (Lightstone private ownership & bankruptcy), Extended Stay Hotels,
responsible for growth in US, Canada, and Mexico
Vice President Acquisitions and Development (Blackstone private ownership), Extended Stay Hotels and La Quinta Inn and Suites
Graduate, Washington State University, Construction Management Coursework
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Exhibits
Experience and Assignments
T.R. ENGEL Group, LLC and T.R. ENGEL Group‐Middle East, LLC
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Luxury and Five‐Star Hotels and Resorts
T.R. ENGEL Group, LLC Executives Sample Management Experience
Hotel
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Ritz Carlton
Ritz Carlton
Alex Hotel
Ritz Carlton
Ritz Carlton
Ritz Carlton
Nine Zero
Ritz Carlton
Mandarin Oriental (cancelled project)
St. Regis
San Ysidro Ranch
One Ocean Resort
NoMad Hotel
Sheraton Royal Orchid
Sheraton Park Tower (now Park Tower Knightsbridge)
Sheraton Prince de Galles
Four Seasons Manele Bay
Four Seasons Lanai, The Lodge at Koele
Four Seasons New York
Windsor Court Hotel
Arizona Biltmore Resort
Sheraton Brisbane Hotel
Sheraton Mirage Gold Coast Hotel
Boston Harbor Hotel
# Rooms/Suites
Location
Type of Assignment
259 rooms/suites
289 rooms/40 suites
203 rooms/suites
444 rooms/22 suites
300 rooms/32 suites
86 rooms/32 suites
190 rooms/suites
193 rooms/43 suites
250 rooms/suites
182 rooms/suites
41 rooms/suites
193 rooms/suites
168 rooms/12 suites
726 rooms/suites
280 rooms/suites
115 rooms/44 suites
220 rooms/suites
102 rooms/suites
368 rooms/5 suites
316 rooms/suites
740 rooms/ 78 suites
246 rooms/suites
295 rooms/suites
230 rooms/suites
New York‐Central
New York‐Battery
New York City
Atlanta
Washington
Georgetown, D.C.
Boston
Boston
Chicago
Washington
Montecito
Atlantic Beach, FL
New York City
Bangkok
London
Paris
Lanai, HI
Lanai, HI
New York City
New Orleans
Phoenix
Brisbane
Gold Coast, Australia
Boston
Advisory Services
Advisory Services
Advisory Services
Advisory Services
Advisory Services
Advisory Services
Advisory Services
Advisory Services
Advisory Services
Advisory Services
Advisory Services
Advisory Services
Advisory services, Asset Management
Asset Management
Asset Management
Asset Management
Asset Management
Asset Management
Asset Management
Asset Management
Asset Management
Property Management
Property Management
Property Management
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T.R. ENGEL Group‐Middle East, LLC
Doha, Qatar Assignments
Banana Island Doha Resort & Spa By Anantara [Opened Jan 2015] – 5 Star
• Retained by an affiliate of the Qatari government through its development agent
• TRE’s scope of work included: 1) Feasibility study and competitive market research, 2) Hotel programming analysis and design critiques, 3) Brand and operator search and selection including Memorandum of Understanding and Hotel Management Agreement negotiations
• TRE leveraged its brand network to field over 12 luxury RFPs from the industry’s leading brand and management companies, ultimately electing Anantara for the resort concept
DoubleTree Suites by Hilton Old Salata Hotel [Opening Feb 2015] – 4 Star
• Retained by a private construction management firm / developer on behalf of a private high net worth Qatari client
• TRE’s scope of work included: 1) Feasibility study and competitive market research, 2) Hotel programming analysis and design critiques, 3) Brand and operator search and selection including Memorandum of Understanding and Hotel Management Agreement negotiations
• TRE leveraged its brand network to field over 20 RFPs from the industry’s leading brand and management companies, ultimately electing DoubleTree by Hilton
Salwa Hotel & Spa by Hilton [Opening 2016] – 5 Star
• Retained by an affiliate of the Qatari government through its development agent
• TRE’s scope of work included: 1) Feasibility study and competitive market research, 2) Hotel programming analysis and design critiques, 3) Brand and operator search and selection
• TRE attracted 8 RFP responses from international luxury hotel brands, and ultimately delivered one of the biggest hotel brands in the world to this project
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TRE Assignment: Four Seasons Hotel – New York, NY Asset Management Role Address:
57 East 57th Street New York, NY 10022
Property Type and Size:
Luxury – 5 Star
368 keys including 63 suites, 9,580 square feet of meeting space and high‐end F&B outlets
Asset
management
assignment:
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Conduct detailed operational and financial analyses to measure performance against budget
Level of communication:
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On‐going interface with investor client and property management
Weekly review of competitive set performance and catering and group pace
Monthly on‐site meetings
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Rationale for TRE engagement:
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Retained as hospitality advisor and asset manager to facilitate communication among multiple stakeholders and streamline complex operating environment with hotel and F&B operations
Budgeting protocol
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Comprehensive business plan analyses and recommended action producing superior financial results for ownership
Relationship and Assignment History
 Retained as hospitality advisor to create:
 Competitive market analysis and competitive market positioning
statement
 Pro forma financial forecast and analysis including a detailed operating
expense analysis
 Operating budget critique
 Subsequently, TRE was retained by same investor client as ongoing asset
manager
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TRE Assignment: Four Seasons Resort – Lana’i at Manele
Bay, Hawaii
Property Details
Address:
One Manele Bay Road, Lanai City, Hawaii, U.S.A. 96763
Property Type and Size:
5‐star, Luxury Hotel
Island Beach and Golf Resort
236 keys (rooms and suites)
Owner:
Four Seasons Resort
T.R. ENGEL Group Involvement
Credited with:
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TRE executive oversaw complete operation of world class resort 
TRE oversaw all private home real estate sales
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TRE oversaw all real estate development
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TRE Assignment: Four Seasons Resort – Lana’i The Lodge at Koele, Lanai City, Hawaii
Property Details
Address:
One Keomoku Highway, Lanai City, Hawaii, U.S.A. 96763
Property Type and Size:
5‐star, Luxury Hotel
Island Beach and Golf Resort
102 keys (rooms and suites)
Owner:
Four Seasons Resort
T.R. ENGEL Group Involvement
Credited with:
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TRE executive oversaw complete operation of world class resort 
TRE oversaw all private home real estate sales
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TRE oversaw all real estate development
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TRE Assignment: The NoMad Hotel – New York, NY
Property Details
Strategy and Solutions
Address:
1170 Broadway & 28th Street, New York, NY 10001
Property Type and Size:
Luxury / boutique ; 4‐5 Star
168 keys including 12 suites, 4,375 square feet of meeting space and high‐end F&B outlets
Advisory Services:
• Underwrite development cost and project management pro forma projections
• Create and deliver a TRE Hotel Business Positioning Plan that identifies how to best capitalize on market potential
Asset Management:
• Conduct detailed operational and financial analyses to measure performance against budget
• Effectively manage incongruous objectives between key stake holders including owners (TRE client) and managers including F&B
Diagnosis & Operational Asset Management
Level of communication:
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On‐going interface with investor client and property management
Weekly review of competitive
set performance and catering and group pace
Monthly on‐site meetings
Interface with investor:
‐ Continuous two‐way communication
‐ In person interviews as requested
Interface with property
management:
TRE Accomplishments
‐ Daily communication as necessary
‐ Weekly conference calls to • Exceeded development pro forma projections
review competitive set performance as well as catering • Oversaw delivery of 2 star Michelin rated
restaurants
and group pace
‐ Monthly on‐site meetings in • Approve and oversee CapEx for incremental New York City
positioning of underutilized space Comprehensive business plan • Approve and oversee CapEx of acquisition of analyses and recommended adjacent space and repositioning into action producing superior incremental revenue producing profit center financial results for ownership
Budgeting protocol and output:
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TRE Assignment: Manotel Portfolio – Geneva, Switzerland Assignment Overview
• Collection of six (6) +4 Star hotels located in Geneva, Switzerland; these properties are similar to the lifestyle luxury and boutique properties that are becoming more popular in the U.S., such as Kimpton Hotels, NoMad Hotel
• TRE completed the following scope of work:
 International hotel investment underwriting and due diligence
 Repositioning and renovation underwriting
 Hotel programming Location
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THOMAS R. ENGEL
PRESIDENT
ThomasEngel@trengelgroup.com
O: 617‐451‐1701
M: 617‐513‐0966
JAMES J. FLYNN
SENIOR MANAGING DIRECTOR
JimFlynn@trengelgroup.com
O: 617‐451‐1701
M: 617‐610‐1411
WWW.TRENGELGROUP.COM
MATTHEW S. ENGEL
SENIOR VICE PRESIDENT, TRE
MANAGING PRINCIPAL, TRE‐ME
MEngel@trengelgroup.com
O: 617‐451‐1701
M: 917‐685‐1213
M: +974 (55) 72‐5895