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Acquisition Due Diligence Assistance

Our services include, but are not limited to:

·         Review of and input for Purchase & Sale Agreement to ensure that essentials are covered

·         Discuss your expectations regarding the financial performance of this asset: Both short and long term

·         We review subject hotel or resort to give you an initial assessment of the property. We conduct brief interviews with the hotel’s general manager, controller, director of sales & marketing and director of engineering. This will provide the group valuable input and information regarding today’s “health” of the property, but equally important also, for formulating the most effective plan of action after the close of escrow

·         We evaluate the most recent appraisal on the property and compare the valuation with historical and current net operating income, and current capitalization rates in the market for comparable property sales

·         Financial statements for at least the past three (3) years are inspected to identify possible problem areas. We then question the Seller on certain performance issues

·         The Ascona Group reviews the hotel’s historical occupancy, average daily rate (ADR), and revenue per available room (RevPar) statistics and compares these with the property’s competitive set and the market place, to assess actual market share/penetration vis-à-vis fair market share. As well, we can do an assessment of the market place

·         We assist the client with the review of any and all contracts, leases, agreements, trade-out agreements, pending EEOC litigation, other litigation, worker’s compensation reports and claims, any property & liability insurance issues Purchaser should be aware of, etc.  The Ascona Group can coordinate property inspections which will cover environmental, structural, plumbing & drainage, irrigation, electrical, roofing, foundation, termite inspections, possible OSHA related issues or violations, possible ADA violations, which have not been cured in the past, ADA compliance in general, presence of asbestos, etc.