Expert Details
The Hotel and Real Estate Market; Economic and Financial Analysis; and Appraisal and Damages
ID: 730681
California, USA
Expert has been restructuring loans and other agreements, working out troubled hotel assets, resolving disputes, and providing property valuation, market demand assessment, investment analysis and other acquisition and development advisory services to clients nationwide. He has been the financial advisor to the National Park Service since 1992, working on more than 35 National Park concession contracts, including Yosemite and Yellowstone.
Expert’s valuation qualifications and expertise have resulted in many unique assignments, such as a recent one involving appraising the Grand Canyon, for which he was awarded the coveted James Felt Creative Counseling Award in 2000. He has been trained as an arbitrator and certified by NASD Dispute Resolution, and has testified as an expert witness on dozens of occasions, in venues ranging from jury trials to arbitration panels to Federal Bankruptcy Court.
Additionally, Expert has provided assistance to hotel lenders, owners and landlords in the areas of negotiating financing arrangements, loan documents, management contracts, franchise agreements, ground leases, development agreements, partnership agreements and bankruptcy reorganization plans.
Expert was involved in the structuring and negotiation of a development agreement and ground and building lease with the selected developer at Ft. Baker in the Golden Gate National Recreation Area. Since 1999, he was involved with the preparation of the RFP, solicitation and identification of qualified private sector firms, preparation of the financial feasibility analysis of the proposed project, evaluation of the financial portions of the responses to the RFP, selection of the development team, and even restructured the lease to accommodate lender requirements. The NPS leases numerous historic Army buildings, which have been converted into use as a high-end conference center with restaurants, retail, and recreational land uses. The renovated hotel, called Cavallo Point, opened in mid-2008.He was extensively involved in the successful effort to convert the Haslett Warehouse in the Fisherman’s Wharf area of San Francisco into a high-end hotel and restaurant. Beginning in 1998, Expert evaluated the financial portions of the responses to the RFP, assisted in the selection of Kimpton Hotels as the developer, and actively assisted in the lease negotiations. The 260-room Argonaut Hotel opened in August of 2003, and provides substantial lease revenues to the Maritime Museum unit of the Golden Gate Park. Since its opening, he has been retained by the NPS to assist with refinancings, transfer of the leasehold, re-setting of rents, lease amendments, and other financial and hospitality issues.Expert was the City of San Diego’s leasing advisor, expert witness, deal structurer, and appraiser in several projects from 1999-2006. He assisted the Director of Real Estate Assets in crafting creative ground leases and development agreements to facilitate substantial private sector investment in new and renovated commercial structures. Projects to date include the $75 million Lodge at Torrey Pines, $50 million renovation at the Hyatt Regency Mission Bay, $50 million enhancement of rides at Sea World, and several other hotel and visitor-serving leaseholds.
Education
Year | Degree | Subject | Institution |
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Year: 1977 | Degree: Masters of Public Administration | Subject: Public-private partnerships | Institution: University of Southern California |
Year: 1976 | Degree: B.A. | Subject: Economics | Institution: Macalester College |
Work History
Years | Employer | Title | Department |
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Years: 1999 to Present | Employer: Undisclosed | Title: President | Department: |
Responsibilities:He is President and Founder of this boutique real estate and hospitality consulting company. |
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Years | Employer | Title | Department |
Years: 1986 to 1998 | Employer: KPMG Peat Marwick LLP | Title: Principal | Department: Real Estate and Hospitality Consulting |
Responsibilities:He was the partner in charge of hospitality consulting in the Western half of the US. |
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Years | Employer | Title | Department |
Years: 1982 to 1986 | Employer: PKF Consulting | Title: Manager | Department: Real Estate and Hospitality Consulting |
Responsibilities:He was manager of the Los Angeles consulting practice. |
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Years | Employer | Title | Department |
Years: 1979 to 1982 | Employer: Williams-Kuebelbeck & Associates | Title: Senior Economist | Department: real estate consulting |
Responsibilities:He was the senior consultant of the real estate consulting practice in the three West Coast offices. |
Government Experience
Years | Agency | Role | Description |
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Years: 1991 to Present | Agency: National Park Service | Role: financial consultant | Description: Arbitrator, expert witness, mediator, hotel development consultant, concession contract advisor, leasing expert |
Years: 2001 to 2012 | Agency: California Department of Parks & Recreation | Role: economic consultant | Description: expert witness, concessions advisor, financial and economic consultant |
Years: 2006 to Present | Agency: Port of San Diego | Role: hotel consultant | Description: expert witness, leasing advisor, hotel development consultant, timeshare advisor, hostel development consultant |
Years: 1999 to 2006 | Agency: City of San Diego | Role: hotel consultant | Description: leasing advisor, hotel development consultant, ground lease extension advisor, expert witness, appraiser |
Career Accomplishments
Associations / Societies |
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He is a member of the International Society of Hospitality Consultants (ISHC); the Counselors of Real Estate (CRE), the American Society of Appraisers (ASA); and the Forensic Expert Witness Association (FEWA). |
Licenses / Certifications |
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Certified Real Estate Appraiser |
Professional Appointments |
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He was the Chairman of the Professional Conduct Committee and served on the Board of Directors for nine years with the ISHC. He is a member of the Board of Arbitrators for the Financial Industry National Regulatory Authority (FINRA) Dispute Resolution. |
Awards / Recognition |
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He was awarded the James Felt Creative Counseling Award by his peers in the Counselors of Real Estate, and the Chuck Pinkowski Member of the Year Award by his peers at the ISHC. Both awards are considered the top awards for members in those organizations. |
Publications and Patents Summary |
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He has co-authored an article regarding commercial park improvements, which was published in Real Estate Issues; a chapter regarding hospitality industry dispute resolution, which was published in the textbook Hotel Investments: Issues and Perspectives; a chapter regarding hotel conversion, which was published in the textbook Hotel Sustainable Development: Principals and Best Practices; and an additional article regarding hospitality industry dispute resolution. |
Additional Experience
Expert Witness Experience |
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He has testified as an expert witness in venues including jury trials in California, Illinois, Florida and Texas Courts, several AAA- and JAMS-sponsored arbitration panels, Federal Bankruptcy Court, and mediations. Since 1999, he has testified over 25 times in courts/hearings, and has provided deposition testimony over 50 times. |
Training / Seminars |
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All of the required real estate courses to pass and maintain my State-certified General Real Estate Appraiser's license; spoke at 2 dozen hotel and real estate industry conferences. |
Marketing Experience |
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He is a resource in the full spectrum of the hospitality industry, and the general real estate development industry. |
Fields of Expertise
hotel, hospitality industry, resort, hospitality, hotel lease, lease, hotel franchising, commercial real estate economics, real estate finance, hotel accounting, commercial real estate appraisal, motel valuation, hotel valuation, building valuation, hotel feasibility analysis, hotel management, franchising, real estate appraisal, valuation, feasibility study, economic analysis