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Project Experience

Here are some examples of projects we have completed.

Feasibility Studies

  • Performed market studies for 37 hotel projects in the greater Minneapolis-St. Paul metropolitan area.
  • Performed hotel market studies in Iowa, Wisconsin, South Dakota, North Dakota, Wyoming, Missouri, Kansas, and Oklahoma.
  • Performed market studies for new casinos or expansion of existing ones in 27 states and four Canadian provinces.
  • Performed numerous market studies for casino amenities that include hotels, meeting and event centers, show rooms, bowling alleys, and retail.
  • Prepared market studies for state licensed casinos and testified before gaming commissions in Pennsylvania and Kansas.
  • Prepared market studies for events centers of various sizes in large and small communities. Recently recommended a 70,000 square foot events center for Bozeman, MT and a 7,100-square foot center has opened in Fergus Falls, MN and a 10,000-square foot center recently opened in Worthington, MN.
  • Prepared market studies for fuel/convenience stores in Oregon, Arizona, New Mexico, and South Dakota.

 

Litigation Support

  • Assisted in determining the impact on a hotel's value caused by the taking of land that could be used for expansion. Analysis focused on the hotel's competitive strength and historic occupancy patterns to determine feasibility of adding more rooms.
  • Assisted hotel franchise company in defending a termination suite by assessing the likelihood that the company could find another franchisee in the same market.
  • Assisted in the valuation of an ownership interest in a casino company for divorce proceedings.
  • Quantified economic damages incurred by the Tropicana Casino in Atlantic City due to the collapse of a parking ramp. The event, which resulted in a fatality, caused the casino to be closed for several days and access to the casino was restricted for a lengthy period. Conclusions were developed from analyzing the casino's market share while factoring in the impact of a new casino opening.
  •   Quantified economic damages to a rural Indian casino that resulted when internal strife caused the Bureau of Indian Affairs to take over the casino and close it for a short period. Damages included lost revenues during the closure as well as impact on the casino's reputation.
  • Assisted in determining the impact on the value of a marina due to the taking of its launch and some of its parking.
  • Assisted in the valuation of a land parcel that was taken by a city by determining if it was suitable for hotel development.
  • Assisted in the valuation of a restaurant that was taken for highway expansion.
  • Deposition in hotel franchisee dispute involving appropriateness of franchisor claims.
  • Quantification and testimony regarding impact that a partial taking of access road had on a full service hotel.
  • Quantification of business value for a motel and restaurant destroyed by fire.
  • Valuation of a partnership interest in a restaurant chain.
  • Assisted City of Minneapolis in valuing a large obsolete hotel taken by eminent domain for urban renewal. Analysis included determining the feasibility of being able to successfully renovate the hotel, given local market conditions.

 

Business Plans

  • Assisted founder of the Rainforest Cafe in preparing business plan that successfully attracted capital for the chain's first six restaurants developed in such high profile markets as Walt Disney Worls, Disneyland, MGM Grand in Las Vegas and Mall of America in Minnesota.