Case Studies – Residence Inn White Plains, NY
Investment Overview
Total Cost
$10.0m
Debt
$2.1m
Equity
$7.9m
Equity IRR
35%
Equity Multiple
7.37
Keys
135
Cost per Key
$74,000
Investment Date
1997
Exit Date
2007
Hold Period (Months)
122
•
Purchased an underperforming condominium building and converted it to a
Residence Inn by Marriott
•
Achieved one of the highest RevPARs in the brand
27
1...,17,18,19,20,21,22,23,24,25,26 28,29,30,31,32,33,34,35,36,37,...42