Commercial real estate lending is provided to finance income-producing property that is to be built, to refinance and restructure existing real estate financing, and to acquire distressed or non-performing loans (NPLs).
Under a hotel lease agreement, the owner of a hotel property leases it to the tenant, who uses it to run its hotel business. The owner (landlord) has no control over the property's operation and bears no risk and liability for the hotel business.
The Operator Selection ProcessOperator selection is undertaken by developers and owners for the appointment of the hotel management operator. The process involves candidate identification, screening, and contract negotiations, generally together with the owner's legal counsel.
Project Development Management (308)Development management is the strategic planning, administration and controlling of a project during its development life cycle, from project planning through to construction completion and project exit. It is performed to minimize project and financial risk while maximizing profit for the developer.
Architecture and DesignArchitecture is the skill and process of designing a structure, its exterior geometry and finishes, and defining the general interior layout of the building to enable its operational and logistical functions. When the architect is engaged in a development project generally depends on the project delivery method.
Construction project management is the coordination and supervision of a project's construction process, from early planning to erecting and finishing the product for project close-out. It is a function of overall development management.
Assessing Project Financial FeasibilityThe financial feasibility study (FFS) determines if or confirms that a project is potentially profitable, it including financial and scenario analysis and an investment appraisal. It should include a cost-benefit analysis of the project throughout the project's entire economic life, as most costs are incurred post construction from operation of the facilities.
Hotel Feasibility StudiesFeasibility studies are conducted by developers to analyze and confirm the optimal product to maximize market penetration, performance and the internal rate of return on investment (ROI) for the product's intended holding period. It is generally undertaken to provide objective and reliable information for the decision whether or not to pursue the project.
A project stakeholder is any individual or group that can affect, be affected by or believe to be affected by a project during its life cycle and/or its output and can influence its success. A development project has multiple stakeholders with varied and often conflicting interests.
The first step in the property development process is opportunity definition. This is when alternative projects are explored, identified and selected.