Best Western Plus Inn & Suites Rumford Falls

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Presentation transcript:

Best Western Plus Inn & Suites Rumford Falls

INTRODUCTION The demand Our team The hotel Project status Pro forma data Capital stack options

THE DEMAND Market studies Route 2 corridor Black Mountain and Sunday River Additional outdoor recreation opportunities ND Paper Large construction projects Local events Minimal local brand-name competition Local events – weddings, sports (basketball, skiing), July 4th, Pumpkinfest, 49 Franklin

OUR TEAM Pennacook Falls Investments, Ltd State of Maine Town of Rumford Melan Hotel Group Lund Inn Construction, LLC

THE HOTEL 63 rooms Indoor pool Fitness Room Breakfast area Meeting room $5.0 – 5.5 MM

PROJECT STATUS Clear title Best Western brand name Permitting Drawings and specifications Site prep TIF & CEA $660K invested

FINANCIAL PROJECTIONS Year 1 Year 2 Year 3 Year 4 Annual Occupancy* 53% 58% 62% 63% Average Room Rate $120 $130 $134 $138 RevPAR $63 $75 $83 $87 Revenue $1,491,868 $1,771,363 $1,943,746 $2,034,063 Total Expenses $ 955,287 $1,061,576 $1,147,753 $1,192,245 EBITDA (Cash Flow) $ 536,581 $ 709,787 $ 795,993 $ 841,818 EBITDA Return** 6.71% 8.87% 9.95% 10.52% * 63-room hotel ** Based on total investment of $8,000,000.00.

CAPITAL STACK OPTIONS Skowhegan Savings Bank Loan - $3.9M Delaware Statutory Trust (1031 Exchange) EB5 Investment EB2 Investment Opportunity Zone Funds New Market Tax Credits Maine Rural Development Authority Loan Additional Investors Additional Loans

CAPITAL STACK Project cost: $5.0 – 5.5 MM SSB loan: $3.90 MM VRAP: $0.35 MM MRDA: $0.50 MM PFIL equity: $0.66 MM Financing Gap closed if we can finalize MRDA loan and satisfy SSB and SBA equity requirements.

Pennacook Falls Investments, Ltd. CONTACT INFORMATION Pennacook Falls Investments, Ltd. Tony Carter, President tonylcarter55@gmail.com 207.418.4133 mobile André St. Pierre, Vice President & Treasurer stepierre@yahoo.com 207.364.9530 mobile