HOLIDAY INN CONVENTION CENTER AIRPORT SARASOTA, FL

Exclusive Representatives: Tampa Office Tel: (813) 868-1880

Julian Mazili Fax: (813) 856-4592

Chief Executive Officer www.mazilihotelgroup.com

DISCLAIMER STATEMENT This marketing package, prepared by Mazili Hotel Group, INC. is CONFIDENTIAL and intended exclusively as one of the many elements in assisting the buyer in making the decision to continue discussions with the seller of the subject property. Mazili Hotel Group is the exclusive representation of the attached marketing package and requests kindly that you do not directly contact the management staff or employees of this property. All inquiries pertaining to this property or the sale of this property should be directed to Mazili Hotel Group.. Mazili Hotel Group has been retained by the seller to promote the above mentioned property for the purpose of obtaining a qualified buyer. All broker fees associated with the sale of this property are the responsibility of the seller unless otherwise noted in the purchase agreement. It should be understood by the buyer that any advice, assistance or information provided to the buyer by Mazili hotel group does not constitute in any way a contractual relationship of any kind between Mazili Hotel Group and the buyer. Upon receipt of this package, potential buyer affirms that the package and the information contained herein are to be held in complete confidentiality, and that originals or copies shall not be shared directly or indirectly with any other person or entity without written consent of Mazili Hotel Group and/or the seller of the above mentioned property. Should the potential buyer decide against further involvement in this transaction, he or she will return all received documents and any copies of received documents in association with the above mentioned property and transaction immediately upon request. The information and financial data and projections contained in the attached marketing package are strictly for informational purposes and no guarantees of accuracy or entirety is being made by Mazili Hotel Group, the seller or their subsidiaries or partners, and no responsibility or accountability shall be assumed by those mentioned. The above mentioned property is being presented and sold on an “as is” basis without any implied or expressed warranties or guarantees whatsoever. Buyer is hereby advised to obtain their own examination and research on the property before making any contractual offering. All information contained herein is strictly for assistance and does not constitute a contract in any way, shape or form. This offering is being made dependent on omissions, errors, and prior sale, change of terms or price or removal from the market without notice. The seller reserves the right, at his or her sole discretion, to refuse any and all proposals or interest in the property and also to terminate negotiations at any time without reason or prior notice.

INVESTMENT

SUMMARY

INVESTMENT SUMMARY

Investment Highlights  Full Service, Upper Mid-Scale Hotel  On Site Banquet Room with Meeting Space up to 2,400 square feet.  Exceptional Location: Within walking distance of the Sarasota Bradenton International Airport.  Minutes from the Sarasota Bradenton Conventional Center.  Holiday Inn brand generates significant demand due to strong reputation and brand recognition.

INVESTMENT SUMMARY Property Overview The Holiday Inn Convention Center Airport is an interior service, 6 story hotel centrally located in Sarasota County. accessible from the entrance to the Sarasota Bradenton Airport and is connected through a covered walkway to Bradenton International Convention Center.

corridor, full The hotel is International the Sarasota

The Sarasota Bradenton International Convention Center (SBICC) is adjacent to the Sarasota Bradenton International Airport. With 5 fully equipped conference rooms totaling approximately 130,000 square feet, the SBICC is the perfect location to host trade shows, consumer shows, concerts, conventions, and social gatherings. It also offers on site food and beverage. Each year, the SBICC hosts between 48 and 52 events and accommodates 50,000 to 75,000 people. Featuring 135 first class guestrooms, the Holiday Inn is ideally suited for business or leisure guests. Each guestroom offers two line telephones, data ports, voice mail, complimentary high speed Internet access, coffee maker, hair dryer, iron and ironing board, television, and a work desk with ample lighting. The hotel offers guestrooms, free parking, a large indoor swimming pool, a sauna, a full service fitness center and business center. In addition, the hotel offers a large, fully equipped banquet room of 1700 square feet and a 400 sq/ft boardroom. Equally important, the Holiday Inn features a food and beverage outlet.

INVESTMENT SUMMARY Investment Considerations Asset The Holiday Inn Conference Center Airport is opened in 2009. The property benefits from its immediate proximity to the Airport and to the Convention Center to realize strong financial performance. The Holiday Inn will is a full service hotel serving the Sarasota Bradenton Airport area and the Sarasota Bradenton Convention Center. This asset will be a great addition to one‘s portfolio given the national brand recognition and the potential business opportunity in the immediate market.

InterContinental Affiliation InterContinental Hotels Group’s (IHG) seven major brands account for over 4,000 hotels with over 600,000 rooms globally. InterContinental Hotels Group is recognized as around the world as a premier hotel company offering a broad spectrum of brands that include the extended-stay brands Staybridge and Candlewood; the venerable Holiday Inn moniker, its Holiday Inn Express, Holiday Inn Select and Holiday Inn Sunspree offspring; the upscale Crown Plaza product; the groundbreaking economy boutique Hotel Indigo concept; and the luxury InterContinental brand. IHG is one of the largest franchisors of hotels, with over 80% of its portfolio operating as franchisees. Holiday Inn was one of the first hotel brands in the United States, with the first Holiday Inn opening its doors in 1952. Its brand strength is responsible in one form or another for the development and expansion of numerous other brands. At the end of 2005, the brand accounted for over 1,400 hotels over 267,000 hotel rooms.

PROPERTY DESCRIPTION

PROPERTY DESCRIPTION Location The Holiday Inn Convention Center Airport is located in Sarasota county. The hotel has the distinct advantage of being located immediately west of the Sarasota Bradenton International Airport and adjacent, to the south, of the privately owned and operated Sarasota Bradenton International Convention Center which is located on 20 acres on 15th Street East north of its intersection with West University Parkway.

Holiday Inn Airport & Conference Center

Property Layout & Configuration The Holiday Inn Convention Center Airport is a 6 story, 135 guestrooms, interior corridor, full service hotel. The general shape of the hotel is rectangular, with the front desk, executive offices, food and beverage outlet, meeting room, and fitness center all located on the main floor. The outdoor swimming pool is in a central courtyard. All of the guestrooms are located on floors 2 through 6. The second floor is accessible by a guest elevator and stairwells located at various points throughout the building.

PROPERTY DESCRIPTION Construction Features Year Built Land Area Gross Building Area Foundation Structure Façade/Superstructure Wall Construction Ceilings Roof Windows Interior Flooring

Elevators Key System Fire Protection Laundry Parking Utilities

2008 3 acres 90,00 square feet The foundation system is reinforced poured-in-place concrete slab on grade. Concrete block and plank Hard stucco Concrete block and steel frame Sprayed-on acoustical plaster on concrete Flat roof. Polyurethane : 10 years warranty Fixed double pane, glass panel, aluminum frame Interior floors are surfaced with carpet in guestrooms, and some public areas, ceramic flooring in lobby area, and ceramic tile floor covering in guest bathrooms. 2 glass elevators : 2,500 lbs, 1 service elevator Electronic system Sprinklers and hardwired smoke detectors in guestrooms and public areas. 3 washers and 3dryers 800 spaces Utility Provider Electric Florida Power Light Gas TECO Peoples Gas System Water/Sewer Saraota County Utilities

PROPERTY DESCRIPTION Guestrooms The Holiday Inn Conference Center Airport is comprised of 134 guestrooms, on floor 2 through 6.

Guestroom Configuration Room Type King Double/Double Suites Total

Guestrooms Plans

Guestroom Amenities

No. Unites 80 41 14 135

 Phone with Voicemail  In-room movies (pay-per-view)  Work Desk with Lamp  High-speed Internet Access

 Hairdryer  Iron/Ironing Board  Coffeemaker  Refrigeator

PROPERTY DESCRIPTION Floor Plans

Hotel Services & Amenities  Conference Center with Meeting Space up to 2,400

square feet  On Site Fitness Center  Outdoor Pool  Business Center  Concierge Service 2nd Floor Plan

1st Floor Plan

PROPERTY DESCRIPTION

PROPERTY DESCRIPTION

PROPERTY DESCRIPTION

FINANCIAL SUMMARY

FINANCIAL SUMMARY Pricing Summary Pr ic e Dow n Pa y m en t Room s Pr ic e/Room 2 0 1 5 A DR 2 0 1 5 Oc c u pa n c y 2 0 1 5 Rev Pa r 2 0 1 5 C A P Ra t e 2 0 1 5 Net Oper a t in g In c om e 2 0 1 5 RRM Y ea r Bu ilt Bu ildin g s Floor s

$ $ $ $ $ $

1 6 ,5 00,000.00 5 ,7 7 5 ,000.00 135 1 2 2 ,2 2 2 .2 2 1 1 3 .00 7 0.00% 7 9 .1 0 7 .5 8 % 1 ,2 5 0,000.00 4 .2 3 2 008 1 6

FINANCIAL SUMMARY Operating Performance

Month January February March April May June July August September October November December Total

Room Revenue 2015 2016 $ 302,827 $ 317,642 $ 523,670 $ 556,713 $ 564,347 $ 616,032 $ 418,446 $ 456,192 $ 274,787 $ 298,809 $ 289,170 $ 312,012 $ 252,732 $ 281,734 $ 212,347 $ 243,902 $ 187,961 $ 230,202 $ 226,618 $ 259,470 $ 267,138 $ 303,264 $ 346,685 $ 365,602 $ 3,866,728 $ 4,241,573

2017 $ 328,104 $ 583,492 $ 662,904 $ 475,794 $ 316,386 $ 340,200 $ 301,655 $ 262,483 $ 251,100 $ 273,197 $ 309,096 $ 381,672 $ 4,486,082

$ $ $ $ $ $ $ $ $ $ $ $ $

2015 108 152 155 123 98 105 99 86 91 95 97 109 110

ADR 2016 $ 110 $ 158 $ 160 $ 128 $ 102 $ 107 $ 102 $ 94 $ 98 $ 100 $ 104 $ 112 $ 115

$ $ $ $ $ $ $ $ $ $ $ $ $

2017 112 162 165 132 105 112 106 98 100 102 106 114 118

2015 67% 88% 87% 84% 67% 68% 61% 59% 51% 57% 68% 76% 69%

OCC 2016 69% 90% 92% 88% 70% 72% 66% 62% 58% 62% 72% 78% 73%

2017 70% 92% 96% 89% 72% 75% 68% 64% 62% 64% 72% 80% 75%

2015 $ 72 $ 134 $ 135 $ 103 $ 66 $ 71 $ 60 $ 51 $ 46 $ 54 $ 66 $ 83 $ 78.49

RevPAR 2016 $ 76 $ 142 $ 147 $ 113 $ 71 $ 77 $ 67 $ 58 $ 57 $ 62 $ 75 $ 87 $ 86.09

2017 $ 78 $ 149 $ 158 $ 117 $ 76 $ 84 $ 72 $ 63 $ 62 $ 65 $ 76 $ 91 $ 91.04

FINANCIAL SUMMARY Operating Performance Charts

FINANCIAL SUMMARY Pro Forma Profit & Loss Statement ADR RevPar

$ $

100.32 70.22 2014

Revenue Rooms Food and Beverage Other revenue Total Revenues

$ $ $ $

3,460,288 706,000 34,000 4,200,288

Cost of Sales Room Expenses Food & Beverage

$ $

Total Cost of Sales

$ $ Ratio 82.38% 16.81% 0.81% 100.00%

113.00 79.10 2015

$ $ $ $

3,897,653 667,000 16,000 4,580,653

761,512 708,678

18.13% $ 16.87% $

$

1,470,190

Gross Operating Income

$

2,730,098

Undistributed Operating Expenses Administrative & General Marketing Maintenance & Repair Utilities Franchise Fees Management Fees

$ $ $ $ $ $

288,563 245,513 233,564 225,699 286,855 98,492

Total Undistributed Operating Expenses

$

Income before Fixed Charges

$ $ Ratio 85.09% 14.56% 0.35% 100.00%

115.00 83.95 2016

$ $ $ $

4,136,636 785,000 36,000 4,921,636

857,750 777,078

18.73% $ 16.96% $

35.00% $

1,634,828

$

2,945,825

$ $ $ $ $ $

298,830 290,415 238,563 225,631 283,100 134,276

1,378,686

32.82% $

$

1,351,412

Fixed Charges Property Insurance Property Taxes

$ $

Total Fixed Charges

$

Net Operating Income

$ $ Ratio 84.05% 15.95% 0.73% 100.00%

118.00 88.50 2017

Ratio

$ $ $ $

4,360,838 788,500 38,000 5,187,338

84.07% 15.20% 0.73% 100.00%

889,456 802,457

18.07% $ 16.30% $

890,151 895,645

17.16% 17.27%

35.69% $

1,691,913

34.38% $

1,785,796

34.43%

$

3,229,723

$

3,401,542

$ $ $ $ $ $

322,766 310,458 245,789 235,465 298,456 138,456

$ $ $ $ $ $

330,154 354,125 268,451 245,865 320,456 142,150

6.36% 6.83% 5.18% 4.74% 6.18% 2.74%

1,470,815

32.11% $

1,551,390

31.52% $

1,661,201

32.02%

$

1,475,010

$

1,678,333

$

1,740,341

113,735 143,180

2.71% $ 3.41% $

101,370 123,549

2.21% $ 2.70% $

102,650 125,478

2.09% $ 2.55% $

105,458 125,666

2.03% 2.42%

256,915

6.12% $

224,919

4.91% $

228,128

4.64% $

231,124

4.46%

$1,094,497

26.06% $

1,250,091

27.29% $

1,450,205

$1,509,217

29.09%

6.87% 5.85% 5.56% 5.37% 6.83% 2.34%

6.52% 6.34% 5.21% 4.93% 6.18% 2.93%

6.56% 6.31% 4.99% 4.78% 6.06% 2.81%

29.47%

COMPETITION

RATE COMPARABLES Holiday Inn Convention Center Airport Sarasota Bradenton International Airport, Sarasota, FL 34243 Total Rooms: 135

2015 ADR: $ 113

Year Built: 2009

2015 Occ: 70.00%

Floors

2015 RevPar: $ 79.00

:6

Hilton Garden Inn Sarasota Hotel 8270 N. Tamiami Trail, Sarasota, FL 34243 Total Rooms: 115

2015 ADR: $ 122

Year Built: 2001

2015 Occu: 82%

Floors

2015 RevPar: $100.00

: 4

Courtyard Marriott Sarasota 850 University Parkway, Sarasota, FL 34243 Total Rooms: 81

2015 ADR: $116

Year Built: 1996

2015 Occ: 82.00%

Floors

2015 RevPar: $95.00

:3

Hyatt Place 950 University Parkway, Sarasota, FL 34236 Total Rooms: 114

2015 ADR: $120.00

Year Built: 2008

2015 Occ: 83.00%

Floors

2015 RevPar: $99.60

: 3

RATE COMPARABLES MAP

2

Sarasota International Airport

1 3 4

1.

Holiday Inn Conference Center Airport

2.

Hilton Garden Inn

3.

Courtyard Marriott

4.

Hyatt Place

SALE COMPARABLES Holiday Inn Convention Center Airport Sarasota Bradenton International Airport, Sarasota, FL 34243 Sale Price: $16,500,000

Number of Rooms: 135

Year Built:2009

Price/Room: $122,000

Building: Interior

Closing Date: On Market

Hawthorn Suites Orlando Airport 7450 Augusta National Drive, Orlando, FL 32822 Sales Price: $19,900,000

Number of Rooms: 135

Year Built: 2000

Price/Room: $147,407

Building: Interior

Closing Date: 01/29/2008

Sheraton Tampa Riverwalk Hotel 200 North Ashley Drive, Tampa, FL 33602 Sales Price: $33,683,700

Number of Rooms: 277

Year Built: 1968

Price/Room: $121,602

Building: Interior

Closing Date: 09/16/2007

Hilton Garden Inn SeaWorld 6850 Westwood Boulevard, Orlando, FL 32821 Sales Price: $27,500,000

Number of Rooms: 233

Year Built: 2001

Price/Room: $118,026

Building: Interior

Closing Date: 10/11/2005

SALE COMPARABLES MAP 4 2

3

1

1.

Holiday Inn Conference Center Airport

2.

Hawthorn Suites Orlando Airport

3.

Sheraton Tampa

4.

Hilton Garden Inn

MARKET OVERVIEW

MARKET OVERVIEW The Holiday Inn Conference Center Airport is located in Sarasota County just South of the Bradenton county line. The two counties together comprise the Sarasota-Bradenton Metropolitan Statistical Area (MSA) and is part of the Tampa Bay Region which also includes the Tampa-St. Petersburg MSA.

Sarasota Bradenton International Airport Sarasota Bradenton International (SBI) is located directly west of the Holiday Inn Conference Center Airport; and is about 2/3rd’s in Manatee County and 1/3rd in Sarasota County. It serves over one million passengers a year as a gateway to the southwest Gulf coast of Florida. Major domestic and commuter airlines provide daily scheduled service, as do seasonal international and domestic charter carriers. The user-friendly terminal and the attractively maintained surroundings exemplify the best of Florida, offering a comfortable, secure and stress-free atmosphere. Airline ticketing, baggage claim, and other services are steps away from the main concourse and the commuter gates. Both the short and long-term parking lots are adjacent to the main terminal. SBI Airport Statistics

Airline Aircraft Departures

Year

Passenger Traffic

Percent Change

Year

Total Departures

Average Daily Departures

Passengers per Departure

2008

535,716

-5.1%

2008

6,863

19

79

2009

566,466

5.7%

2009

8,027

22

71

2010

671,988

18.6%

2010

9,500

26

71

2011

715,137

9.4%

2011

9,623

26

74

2012

783,964

9.6%

2012

9,873

27

72

As of January 2012, the airport was served by six national airlines (AirTran, Continental, Delta, JetBlue, Northwest, and US Airways) and two commuter airlines (Cape Air, and Comair). In fiscal year 2007, the top four airlines accounted for 72.3% of total enplanements. AirTran ranks first in number of enplaned passengers (29.2%), with Delta ranking second (27.7%), Continental third (8.1%), and JetBlue ranking fourth (7.3%).

MARKET OVERVIEW Hotel Market Highlights Demand in Sarasota is cyclical. RevPAR is highest during February and March, lining up with winter getaways and schools’ spring break holidays. Occupancy during this first quarter of the year consistently reaches 90%, sometimes as early as January and as late as April. Average Daily Rate reflects this same pattern, with rates reaching $150 and higher during the first quarter, but dropping to lower $90’s during August and September. Accordingly, lower RevPAR’s are also achieved during the months of August and September, when high temperatures are readily available in many places and when students go back to school.

Market Demographics With a county population approaching 400,000 and a city population of more than 53,000, Sarasota is a popular tourist destination renowned for pristine beaches and cultural attractions. Considering the tourist influx, a functional population estimate is closer to 500,000 for the county at any given month. Of the approximately 4.8 million tourists that visit Sarasota during the summer season, approximately 930,000 stayed for an average of 6.5 nights. Following standard employment patterns for tourist destinations, the largest share of Sarasota residents are employed in service industries, including health care, retail, accommodation and food services, construction and more.

MARKET OVERVIEW Sarasota-Bradenton MSA The site’s location just north of the Sarasota-Manatee county line places it roughly in the middle of the Sarasota-Bradenton Metropolitan Statistical Area (MSA) which is comprised of both counties. Although Sarasota is the larger county in terms of population, Manatee (Bradenton) was the state’s top county in job growth (15.01 percent) in the 2000 to 2004 period and both Manatee and Sarasota counties have jobless rates (3.6 percent and 3.2 percent respectively) well below the state average (4.8 percent) for 2004. Future population growth is estimated at over 10 percent in the period 20042008 in Manatee County and between 7 and 9 percent in Sarasota County for the same period. According to the Florida Trend annual Economic Yearbook, per capita income in Sarasota County in 2004 is estimated at over $42,500, which is behind only Collier County (Naples area) in the 10 county southwest region. Manatee County is next in the region with a level of over $35,700, well above the state average of $31,242. With over $72 million in capital investments announced through the Economic Development Council and a medical college and 740-seat sports arena coming to the area, Manatee County intends to continue its growth into the future. Benderson Development, which has moved its corporate headquarters to Manatee County and is locating in a multimillion-dollar business center they are developing at University Drive and Interstate 75, about 7 miles east of the subject site.

MARKET OVERVIEW Area Attraction Although none of the state’s top attraction destinations such as, Disney and the Orlando theme parks are located proximate to the Holiday Inn Conference Center Airport, there are a large number of smaller attractions in the general market area as shown in the following table:

Source: Brush & Company

MARKET OVERVIEW Tourism Tourism is one of the leading sectors of the Florida economy and 2005 was a record year according to Visit Florida. Total visitors to the state reached a record 85.8 million in 2005, up 7.6% over 2004’s former record level of 79.6 million visitors and up 17.8 percent from the pre 9/11 total of 72.8 million visitors in 2000. total tourism/recreation taxable sales have been estimated at over $60 billion in 2005, a new record and up more than 5 percent from 2004’s $57 billion and up almost 24 percent from 2000’s $48.5 billion. Total state sales tax revenue from tourism also reached a record $3.6+ billion, up from 2004’s $3.4 billion and 2000’s $2.9 billion. The number of persons directly employed by the tourism industry reached a record approaching 950,000 up from both 2004’s 912,700 and 2000’s 842,900. Lodging Supply and Demand As shown in the following chart, the downturn in overall demand in the State of Florida during 2001 (and the lack of change in 2002), was almost mirrored in the Tampa Bay Region. Even though supply growth among the competitive facilities was non-existent since 2002, demand growth showed high levels of growth in both 2003 and 2004 but slight downturn in 2005 when the entire state was affected by the hurricanes in the late summer and fall and the market didn’t reach the 2004 levels for the last 5 months which were impacted positively by hurricane related demand. Seasonality of Demand As is common in central Florida, even for commercially oriented properties, the state’s winter “high-season” for tourism in the region is of importance both for transient visitors going to vacation destinations proximate to the beaches or at the major theme parks in the Orlando and Tampa areas while the more “value-oriented” summer season gains in importance. Destination tourist demand in Bradenton, backs up from the more beach oriented properties during the high season which adds to the commercial and transient tourist demand more common in airport locations. The table below shows the monthly occupancy, average rate and RevPAR levels during the last two full years for the selected BradentonSarasota area properties.

MARKET OVERVIEW Major Employers

Source: Brush & Company

Executive Profiles

EXECUTIVE PROFILES Mazili Hotel Group Founded by Julian Mazili, the Mazili Hotel Group is a Hotel Brokerage Company. In addition to delivering the best hotel brokerage and advisory, we provide other services related to the hospitality industry such as, consulting, management and financing assistance. Our professional staff utilize their hotel's expertise, local and national market knowledge, and investors needs to match each property with the proper investor while maximizing the seller's and the buyer's value. We work hand in hand with our clients, so we can serve them best. Their satisfaction is and will always be our number one goal.

Our Mission: To provide Excellent Brokerage and Advisory services to our clients, build up and sustain wealth for our Clients, and become the leading hotel brokerage firm in Florida and the Southeast Region. What separate us from competition is our ability to sell listed properties within 65 days and with 95% or more of the listed price. Our experience and involvement in hotel ownership and management enables us to achieve maximum results for our clients than average hotel brokers. Before we engage in sending any marketing materials, we qualify buyers first by inquiring their financial statements, business history, and experience as well as their ability to conclude transactions in a timely manner. Upon receiving a request to list a property, we start preparing an Executive Summary which includes the property’s general and financial information. A more detailed Marketing Package is prepared within 48 hours after the execution of the “Listing Agreement”.

EXECUTIVE PROFILES Julian A. Mazili : CEO & President Julian A. Mazili is the President of Mazili Hotel Group, a hotel brokerage company based in Tampa, FL. Julian Mazili specializes in hotel brokerage and has extensive experience in the Hotel industry. He has owned and operated a number of hotels in Colorado and Florida for over 15 years.

Julian Mazili CEO & President

Julian’s personal experience covers all facets of the hotel industry ranging from new construction to acquisition planning, as well as his knowledge in budget/revenue forecasting. His product knowledge and experience allow him to conclude transactions efficiently while satisfying both potential investors and property owners. With Julian's broad international experience and multilingual capabilities (Italian, French, Spanish, Arabic) many international investors have utilized his services to acquire new hotel investments in the U.S, especially in the Florida market. He has excellent brokerage experience in negotiating and selling as well as the ability to understand and respond to investors needs. Julian was included in the Who’s Who of professionals Hotel Owners and Management Directory in 1997 and 1998. He received an award of Top Hotel Investment Broker in Florida in 2001, 2002, and 2003. In addition, he was a Florida Gulf Coast Pinnacle Award recipient in 2003.

“My Commitment to my clients is to provide them with the best real estate investment, research advisory, and transaction services.” Julian A. Mazili