Click to enlarge: Breckenridge, Winter Park (3)
The Village at Breckenridge Resort, Colorado (1996)
The Village at Breckenridge serves as the principal base area development for the Breckenridge Resort which attracts more than one million skiers per year. The Village is, however, independently owned and not connected with the resort ownership. It consists of a large complex of hotels, high-rise condominiums, restaurants and retail space. We performed a limited appraisal of this complex for a New York brokerage house representing a purchaser. Our assignment, based on a brief inspection and an examination of financial information provided by the client, was to provide a range of value estimates. Because of time constraints the assignment was limited to an income analysis only without market research. Based on the limited financial information available on the subject property and with our knowledge and experience in ski resort hotel valuation, we were able, within a relatively short time, to provide the client a value estimate within a range. This was communicated in a summary report.
Winter Park Resort, Colorado (1986)
Our appraisal of Winter Park was performed for management as part of their study of the feasibility of privatizing the resort (owned by the City and County of Denver). The resort was a successful, profitable destination ski resort with no real estate developments owned by the resort. The primary challenge in this appraisal was to analyze several proposed expansion options (several of which have been exercised in the intervening years). Issues included development costs, permits, and the impacts on skier visits and income from expansion.
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