Pac Beach Peebles Rfp Response 032816 Full

8/15/2019 Pac Beach Peebles Rfp Response 032816 Full

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Request for Qualifications Response

22 January 2016

2212 Beach Boulevard, Pacifica, CaliforniaPrepared for the City of Pacifica



Qualification Statement:

The Ocean Front Hotel Business Development Opportunity

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Table of Contents

I. Transmittal Letter ................................................................................................................... 2

II. Project Concept & Vision .................................................................................................... 3

III. Development Team ............................................................................................................ 6

A. The Peebles Corporation – Lead Developer ................................................................. 6

B. The Peebles Corporation - Key Personnel ...................................................................... 7

C. Starwood Hotels & Resorts – Hotel Operator ................................................................10

D. Starwood Hotels & Resorts - Key Personnel ...................................................................10

E. Handel Architects –

Planning and Design .....................................................................11

F. Handel Architects – Key Personnel ................................................................................12

H. Project Capitalization .....................................................................................................13

IV. Comparable Hotel Development Experience ............................................................... 15

A. The Peebles Corporation Completed Comparable Projects .....................................15

B. The Peebles Corporation Current Comparable Hotel Projects ...................................17

V. References ......................................................................................................................... 19

A. Hotel, Restaurants & Amenities .....................................................................................19

B. Financial Relationships (Peebles Only) ..........................................................................20

C. Public Sector, Government and Community (Peebles Only).....................................20

APPENDIX

A. STARWOOD HOTELS & RESORTS LETTER OF INTEREST

B. DEVELOPMENT TEAM QUALIFICATIONS

C. ATTACHMENTS A & B

D. DEVELOPMENT CONCEPT IMAGES



I: TRANSMITTAL LETTER



II: PROJECT CONCEPT & VISION





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II. PROJECT CONCEPT & VISION

The RFQ presents a unique opportunity for the Development Team to leave a special

mark on Pacifica, complementing its world-class natural beauty, amenities and

neighborhood character while catalyzing the Site into a destination hotel and restaurant.

The proposed development is to reposition the Site to become the centerpiece of the

redevelopment and revitalization of Palmetto Avenue, “main street” and West Sharp

Park Neighborhood and to better connect the City’s designated main street to the

promenade and beach. We endeavor to meet the City’s long-term goals to create a

vibrant, culturally-rich, epicenter that would function as a source of community pride and

signal to developers, retailers and tourists in the broader region that Pacifica is an up-

and- coming beach community open to fresh new ideas.

Boutique Hotel:

The Development Team in collaboration with the City of Pacifica propose developing asuccessful positioning strategy for the hotel and a design that is both forward thinking

and timeless. We recommend a 100 – 150 key boutique hotel concept branded as either

a Tribute Portfolio Hotel or an Aloft Hotel to be operated by the renowned Starwood

Hotels & Resorts. Throughout its history, Starwood has proven to attract both leisure and

corporate travelers to destinations around the world while leveraging their extensive

network of signature partnerships, multi-concept restauranteurs, and internal brands to

determine the most appropriate food & beverage concept for the hotel to not only drive

hotel traffic but also local businesses. As a drive-to-destination, Pacifica could draw

significant group business from the demand driver surrounding the Bay Area with

sufficient meeting space also.

About Tribute Portfolio & Aloft Hotels:

Tribute Portfolio gives guests access to exceptional upper upscale, independent hotels

around the world. From boutique resorts to compelling hotels in choice locations, Tribute

Portfolio hotels offer inspired style and superior service. With Tribute Portfolio, owners can

maintain their hotel’s individuality while leveraging the power of Starwood Hotels &

Resort’s global infrastructure to help maximize returns.

Bold, sleek and unique, Aloft Hotels completely redefined the select service category by

pairing a tech-savvy, design oriented product with the power of Starwood’s sale and

marketing platform. The brand caters to the next generation of travelers who crave

modern style and vibrant social scene. Launched in 2008, Aloft continues to steal market

share with more than 100 hotels.

Restaurant:

The restaurant is anticipated to be separate from the hotel on the ground level with a

strong covered deck connection. We imagine this area as a neighborhood lynchpin



Qualification Statement: The Ocean Front Hotel Business Development Opportunity

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integrating hotel guests with community members. We would like explore possible hotelrooms atop the restaurant as upper floors would afford better views of the shoreline.

The Peebles Corporation, its current and prior hotel operators and Starwood Hotels &Resorts have worked with internationally recognized, award winning and local chefs to

create unique dining experiences in the cities they operate. Starwood has a significantamount of experience developing internal restaurant and bar concepts, and has anextensive network of signature partnerships with world‐renowned chefs, multi‐conceptrestaurateurs and innovative bar operators. Starwood has supported the selection andimplementation of over 50 unique third‐party restaurant and bar concepts within theirnew hotel openings in the U.S. This includes multiple partnerships with Michael Mina’s

Bourbon Steak at the Westin St. Francis, The Gerber Group, Mister Chow at W SouthBeach, The Bazaar by José Andrés at SLS Hotel at Beverly Hills, and The Chandelier Roomat W Hoboken. Additionally, Starwood has created strong internal concepts such asRelish (The Phoenician), Rumba (Le Méridien Philadelphia), Prime (Le Méridien KualaLumpur), Bamboo Chic (Le Méridien Bangkok) and Favola (Le Méridien Pune) just to

name a few.

Starwood also owns Culinary Concepts Hospitality Group (CCHG), a unit founded bymaster chef Jean‐Georges Vongerichten, which exclusively owns five culinary brands:Spice Market, J&G Steakhouse, Cook Hall, Market and J&G Grill. While CCHG is ownedand is exclusive to Starwood, it operates with a dedicated staff out of an office indowntown Manhattan. CCHG also has the ability to concept and brand restaurants ona one‐off basis, as they have successfully done at St. Regis Bahia Beach and St. RegisPrinceville.

The Development Team continues to evaluate the opportunity and looks forward to

discussing our concept with the City of Pacifica. Please see Appendix B for moreinformation regarding our hotel concept and programming.

Planning & Design:

Guided by Handel Architects, our vision for the project is to engage the architecturalforms and design of the buildings into the characteristics of a coastal beach townexperience. As one begins their journey along Palmetto Avenue’s “Main Street” they will

be drawn through a strong view corridor leading them visually towards the Pacific Oceanwhere they will experience an architecture style composed of clean modern lines where

the materials and forms are inspired by the rugged and serene aspect of the NorthernCalifornia’s coastline.

The Site’s organization, incorporating a new mid-site pedestrian and view corridor wouldstrengthen both the Site and town’s “main street” connection to the ocean. Enhancingpedestrian and view access along Montecito Avenue would further join the coast withthe main street. The hotel and restaurant with balconies and decks would front theOceanside. Through a narrow mid-block private lane, vehicular access to the hotel, with



Qualification Statement: The Ocean Front Hotel Business Development Opportunity

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underground parking, would allow the Beach Boulevard to remain unencumbered for astrong ocean connection. Differential massing in-keeping with the PlanningDepartment’s height and bulk recommendation would tie the development with theneighborhood’s fabric.

Landscape and architecture would be inspired by the surrounding natural environmentwith references to driftwood, rocky outcrops and earth tone colors. The hotel andrestaurant would also feature large openings looking over ocean front, in conjunctionwith durable light colored matt finish aluminum panels and architectural concrete baseelements. The design would create a distinct contemporary landmark engaging with,and reinforcing the coastal town identity.

Please see Appendix A for RFQ page 15 Attachment A Questions and Responses andAppendix D for selected Site images.



III: DEVELOPMENT TEAM





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III. DEVELOPMENT TEAM

The Peebles Corporation has assembled a talented team of industry-leadingprofessionals in support of the enclosed RFQ submission for the acquisition anddevelopment of 2212 Beach Boulevard, Pacifica. The Team possesses extensive

experience with public/private partnerships, land-use, development, propertymanagement, sustainable design and investment in multiple asset classes includinghotels. Please see Appendix B for more Development Team details.

As lead developer, Peebles will lead the development/investment in 2212 Beach

Boulevard, in addition to guiding the concept design, project administration, andcapitalization.

A. THE PEEBLES CORPORATION – LEAD DEVELOPER

The Peebles Corporation was founded by R. Donahue Peebles, in Washington D.C. in

1983. Today, with offices located in New York City and Miami, TPC is widely recognizedas the largest minority-owned Real Estate Development Company having acquired anddeveloped a multi-billion dollar portfolio of luxury hotels, high-rise residential and Class-A

commercial properties over the course of its history. TPC’s portfolio consists of completed

and current developments totaling 7 million square feet and more than $6 billion across

the country in cities such as New York, Philadelphia, Washington DC, Boston, SanFrancisco, Las Vegas, Miami, and Miami Beach.

TPC is driven by projects that directly impact the community, and each of the firm’s completed developments have succeeded to a great extent by understanding the

needs of the neighborhood in which they build. Herein, TPC demonstrates the capacityto develop a signature 100-150 key boutique hotel with complimentary uses to activatethe “main street” and fully utilize the potential of the development Site. The Developer is

enthusiastic about the prospect of delivering a premier Project that will enhance theworld-class natural beauty, vibrant, mixed-use neighborhood that is rapidly burgeoning

in Pacifica.

TPC has a long-standing and successful track record of investing in major American

gateway cities across multiple property types and through several economic cycles.Additionally, the firm has established a successful record with public/private partnershipsin which it develops underutilized publically owned real property assets to maximize value

and transform communities. In 2013, TPC acquired 346 Broadway (aka 108 Leonard), thelargest single-building sale in New York City government history. Redevelopment plans for

the 420,000 square foot Tribeca landmark include residential condominiums, retail and adedicated community space.

Most recently in January 2015, TPC was selected by the Massachusetts Department ofTransportation (“MassDOT”) and the Metropolitan Bay Transit Authority (“MBTA”) to

oversee the design to develop Air Rights Parcel 13 in Boston’s Back Bay neighborhood at





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the corner of Massachusetts Avenue and Boylston Street, as well as, perform the dutiesof Construction Manager / Project Manager of The Hynes Convention Center Green Line

Station in Boston’s Back Bay neighborhood. Mr. Peebles targeted Boston as a strategicmarket not only because of the City’s strong real estate market fundamentals driven bya thriving economy, but also because of its diverse population that should be reflected

in new business opportunities throughout the City of Boston.

Mr. Peebles has built a national track record based of sustained excellence in executingcommunity focused development projects. Over the course of his career, Mr. Peebleshas partnered with public agencies and municipalities across the US to improve the built

environment and provide opportunities for minorities. In additional to his role as CEO, Mr.Peebles is an avid supporter of mentoring youth to expose younger generations to the

value of entrepreneurship.

As a 100% owned minority firm, TPC is equally committed to affording business

opportunities to minority- and women-owned businesses and individuals (“M/WBEs”)

throughout the development, financing, design, construction and operation of theProject. For more than 30 years, TPC has lead the cause of M/WBE advancement bycreating opportunities for minorities in each phase of the development process. Herein,TPC demonstrates its commitment to M/WBE participation through its portfolio of

completed projects, as well as, pipeline of current developments.

The firm’s project history demonstrates the financial and technical capacity to execute

large-scale projects with a high degree of complexity. Although our firm has experiencedsignificant growth since inception, we are guided by our CEO & Chairman’s founding

principal – to develop projects that are transformative.

B. THE PEEBLES CORPORATION - KEY PERSONNEL

R. Donahue Peebles – Chairman & CEO

Recognized as one of the most successful entrepreneurs in the nation, R. DonahuePeebles is Founder, Chairman and CEO of The Peebles Corporation, one of the country’s

few national privately held real estate investment and development companies with amulti-billion dollar portfolio of projects in New York, Washington D.C., Philadelphia, Boston,

Miami and Miami Beach.

In addition to his role as CEO of The Peebles Corporation, Mr. Peebles is a top-selling

author (The Peebles Principles and The Peebles Path to Real Estate Wealth), a regularguest on CNN, CNBC and FOX, and a highly sought-after speaker who has addressed

educational, business and professional audiences across the United States.

Mr. Peebles is an avid supporter of mentoring to expose youth to the value of

entrepreneurship. He is currently the Chairman of the Board of the Congressional BlackCaucus, serves on the Board of Directors of YMCA of Greater New York, Miami-Dade





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County Mayor Gimenez’s Business Roundtable, is a two-time former member of PresidentBarack Obama’s National Finance Committee, and is former Chairman of the Greater

Miami Convention and Visitors Bureau.

Tawan Davis –

Chief Investment Officer

Tawan Davis spearheads capital raising initiatives, directs developments, andimplements strategy for The Peebles Corporation. Most recently, Mr. Davis led publicprivate partnerships with the New York City Economic Development Corporation

(NYCEDC) in the administration of Mayor Michael R. Bloomberg. During that time, heanalyzed, structured and executed high-profile transactions that brought nearly $1 billion

to New York City’s coffers, created more than 5,000 jobs, and initiated several billion

dollars in economic activity.

Prior to NYCEDC, Mr. Davis was an investment manager with Prudential Real Estate

Investors, where he managed more than $6 billion dollars of real estate private equityinvestments, joint ventures, developments, and operating assets throughout the UnitedStates and Europe. He has also worked as an investment banker with Goldman Sachs,where he concentrated on mergers, acquisitions and financing of publicly traded

companies. Mr. Davis was notably named one of “40 Under 40 Emerging BusinessLeaders” by Network Journal, and has been compared to former President Bill Clinton forleadership potential by Newsweek Magazine.

Mr. Davis earned a BA in Political Economy with honors from Georgetown University, an

MS from England's Oxford University, and an MBA from Harvard University's BusinessSchool. In addition to his role with The Peebles Corporation, Davis is currently an AdjunctProfessor at New York University's Shack Institute of Real Estate and serves as a member

of the board of directors of Harlem Hospital and New Horizon’s Children’s AdvocacyCorporation.

Gregory P. Cola – Director of Acquisitions and Investments

Gregory P. Cola is responsible for sourcing, structuring, closing and monitoring The

Peebles Corporation’s real estate development and investment portfolio. In his decadeof experience in real estate acquisition, Mr. Cola has analyzed several billion dollars’worth of institutional properties throughout the United States.

Prior to The Peebles Corporation, Mr. Cola worked as an advisor with Red Stone Partners,where he identified and analyzed prospective opportunistic joint venture multifamilydebt and equity investments, as well as led asset management and institutional reportingfor the company’s $200 million equity and mezzanine loan portfolio. Previously, Mr. Cola

was engaged in all aspects of the acquisition process with TGM Associates L.P., where heled underwriting for the company’s $400 million value-added fund. He has also served asa Senior Real Estate Consultant at PricewaterhouseCoopers, and began his career with

Deloitte & Touche in its Audit and Assurance practice.





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Mr. Cola earned an MS in Real Estate Finance & Investment from New York University and

a BA in Business Administration in Accounting from Hofstra University. He is currently anAdjunct Assistant Professor at New York University teaching graduate-level financecourses and is a member of the Urban Land Institute.

Amelia E. Patt – Associate Director, Acquisitions and Investments

Amelia Patt has robust investment and analytical experience along with an architecture

and design background. Her primary responsibilities include sourcing, underwriting andclosing new development deals for The Peebles Corporation. In addition to her role on

new investments, Ms. Patt oversees the schematic design and entitlement process for

Peebles’ 400,000 square foot ground-up development project in Boston’s Back Bayneighborhood. Additionally, she coordinates the day-to-day communication with

MassDOT and MBTA for the Parcel 13 – Hynes Station project.

Prior to joining Peebles, Ms. Patt was a Senior Analyst in Acquisitions for Clarion Partners,LLC, during which time she analyzed and valued prospective multifamily, retail, officeand industrial investments throughout the Mid-Atlantic and Southeast. During her tenure

Ms. Patt was critically involved in the acquisition and financing of approximately $395million of real estate assets. Ms. Patt began her career at Jones Lang LaSalle in the NewYork City-based Capital Markets Group, primarily working on debt and equity originations

for institutional clients.

Ms. Patt studied Architecture at Columbia’s Graduate school of Architecture Planningand Preservation. She holds a Masters in Real Estate Development from ColumbiaUniversity and a BA from University of Michigan. Ms. Patt stays involved in academia as

an adjunct faculty member at Columbia University and as a mentor for current MSREDcandidates at the school.

Chris Leng Smith – Managing Director of Development

Chris Leng Smith is responsible for the overall execution and day-to-day management of

The Peebles Corporation’s developments in the Northeastern and mid-Atlantic UnitedStates. Prior to joining the company, Mr. Leng Smith was Senior Vice President with theNew York City Economic Development Corporation (NYCEDC) where he led the

structuring and negotiation of public-private partnerships and transactions for more than

2.5 million square feet of developments including Flushing Commons, the BatteryMaritime Building, and Coney Island, to name a few.

Before NYCEDC, Mr. Leng Smith managed the financial analysis, project planning, market

positioning, design, and preliminary leasing of more than $5 billion of world-class domesticand international real estate projects as Senior Director of Tishman Speyer and VicePresident of AIG Global Real Estate Investment Corp. Mr. Leng Smith began his career as





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a resident engineer and engineering project manager on large-scale renovation andconstruction projects in New York, Trinidad, Malaysia, and London.

Chris earned a BA in Engineering from Cambridge University in England and an MBA inFinance and International Business from Columbia University’s Business School. He is an

active member of the Urban Land Institute and participated on a panel advising theMayor of Portland, Oregon.

Dan Robinson – Director of Development

Dan Robinson is responsible for executing The Peebles Corporation’s development

projects in the Northeast and Mid-Atlantic United States. Prior to joining the company, Mr.

Robinson directed development and operations for partnerships of Angelo, Gordon &Co. and Belvedere Capital. His responsibilities included leading broad project teams and

working closely with all stakeholders to achieve mutually beneficial outcomes.

In his more than 15 years in the industry, Mr. Robinson has stewarded more than $1.5 billionin real estate investment and development activity. His project experience includes theacclaimed Printing House condominium redevelopment in Manhattan’s West Village, as

well as the redevelopment of a 450,000-square-foot residential portfolio in Queens, NewYork. Mr. Robinson also directed the turnaround of a distressed 2,600-key hotel portfolio.Mr. Robinson earned a Bachelor of Science in Economics degree from The Wharton

School of the University of Pennsylvania with a concentration in Real Estate Finance

C. STARWOOD HOTELS & RESORTS – HOTEL OPERATOR

Starwood Hotels & Resorts Worldwide, Inc. is an innovative hotel and leisure companywith over 1,200 properties in 100 countries, and 181,400 employees at its owned and

managed properties. Starwood is a fully integrated owner, operator and franchisor ofhotels, resorts and residences with the following internationally renowned brands: St.

Regis, The Luxury Collection, W, Westin, Le Meridien, Sheraton, Four Points by Sheraton,Aloft, Element and Tribute Portfolio.

Starwood has reshaped the hospitality industry with its lifestyle branding approach whichleverages design and innovative programming combined with exceptional service to

deliver unparalleled experiences that resonate with guests and drive industry-leadingpremiums. With a focus on being the leading global hotel company with world-classbrands, quality global growth, experienced teams and a powerful sales and marketing

platform, Starwood is strongly positioned for the future.

D. STARWOOD HOTELS & RESORTS - KEY PERSONNEL

Starwood’s brands provide guests value and experience beyond expectation whichdrives unmatched loyalty and premiums for owners. By working with Starwood

management, partners benefit from a deep bench strength of talent with regional





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expertise, better integration with Starwood systems and resources, and cost efficiencies

to ensure both a great guest experience and overall hotel profitability.

Each hotel has its dedicated management team which is supported through a regional

team that guides brand standards, operating best practices, revenue management

guidelines and sales and marketing functions, as directed from the Regional Leader andSenior Leadership Team. All of these teams are experienced and aligned to help create

the most iconic and effective hotel possible. These teams cultivate innovative talent who

are personally engaged from a lifestyle standpoint to the intimate, bespoke and inviting

environment of the brand. Starwood respects collaboration through expansive, diverse

perspectives from all team members.

Carla Murray – SVP, Operations West Region North America

Ms. Carla Murray is responsible for managing over 100 properties in Alaska, Washington,

Oregon, California, Arizona, Colorado, New Mexico, Utah, Nevada and Texas across all

Starwood brands. Carla was promoted into this position following a series of GeneralManager positions she held at The St. Regis Aspen, The Westin Seattle, and the Sheraton

Seattle Hotel & Towers, from the years 1998-2002.

Ms. Murray is supported by Jon Kimball, Area Managing Director of Operations, Doug

Collins, Regional VP Sales & Marketing, Natalie Lo, Regional Director Finance, Sarah

Cannon-Foster, Regional Director Human Resources and John Savage, Regional

Director, Revenue Management.

E. HANDEL ARCHITECTS – PLANNING AND DESIGN

Handel Architects is an architecture, interior design, and planning firm that began in NewYork City in 1994. With more than 150 architects, interior designers, planners, and support

staff, the firm is working on projects globally from offices in New York City, San Francisco,

and Hong Kong. Internationally recognized projects include the Dream Downtown Hotel

in New York City, the World Trade Center Memorial in New York City, the Millennium Tower

in San Francisco, and the Ritz-Carlton Hotel in Washington DC’s Georgetown

neighborhood.

The practice places a focus on designing to enrich the local environment, and is a leader

in the design of hybrid mixed-use buildings, designed to support density as a community

growth strategy. Recent recognition includes a 2014 AIA Honor Award in Urban Design

for the firm’s work in downtown Boston.

Handel Architects’ work is regularly featured in architectural journals and design

publications, and clients range from private developers to publicly funded organizations

to institutional and not-for-profit groups.





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F. HANDEL ARCHITECTS – KEY PERSONNEL

Glenn Rescalvo AIA -Design Partner

Glenn Rescalvo is the Principal-in-Charge of the San Francisco office of Handel Architects

and oversees the design and construction of all projects. Currently Mr. Rescalvo is leadingthe design of a number of projects in the San Francisco area, including a new boutique

hotel at 950 Market Street, a new residential tower at 706 Mission Street, and a new low-rise residential building at 240 Pacific Avenue. Projects under construction include thelow-rise residences at 450 Hayes, and the low-rise residences at 346 Potrero.

Prior to opening the San Francisco office in 1994, Mr. Rescalvo was a Senior Designer at

Kohn Pedersen Fox Associates, P.C. While at KPF Mr. Rescalvo collaborated on a numberof office building projects including the Chalpultepec Tower in Mexico City, the Bank ofHawaii in Honolulu, the Hanseatic Trade Center in Hamburg, the State House in London,

the Station Building in Nagoya, and the Telecom Competition in Buenos Aires.

Mr. Rescalvo’s projects have received recognition both locally and abroad and have

been published in Urban Land, Architecture, Architecture + Urbanism, Oculus,Architectural Record, Interni Magazine, and Icons of Architecture: The 20th Century.

Mr. Rescalvo is certified by the National Council of Architectural Registration Boards(NCARB) and licensed in California, New York, and Hawaii.

Michael Lin -Project Designer

Michael Lin joined Handel Architects in 2004 and serves as the Design Director for thefirm’s San Francisco office. He has worked on a variety of the office’s projects, and is

currently the Lead Designer for the Proper Hotel in Austin, TX.

Mr. Lin has extensive experience with complex mixed-use projects, and served as theLead Designer for the firm’s W Hotel, Office Tower, and Residences in Santiago, Chile. The

1.1M sq. ft. project, which completed in 2010, was recently nominated for a 2013 ULIGlobal Excellence Award.

Mr. Lin has also worked on a number of Handel Architects’ residential projects in SanFrancisco, including Blu Residences, 706 Mission Street, and 2550 Van Ness.

Prior to joining Handel Architects, Mr. Lin worked for Gensler’s San Francisco office, where

he served as a Senior Designer. Prior, he worked at Jim Jennings Architecture in SanFrancisco, where he designed high-end residential projects.

Mr. Lin earned his Bachelor of Arts in Architecture from the University of California at

Berkeley, and his Master in Architecture from Harvard University. He has instructed at





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Berkeley’s College of Environmental Design, and the California College of Arts

Department of Architecture.

Stephen Kirkish -Project Manager

Stephen Kirkish brings 30 years of comprehensive experience with residential, hospitality,

commercial, institutional and civic projects. Joining Handel Architects in 2001, he is aSenior Associate adept at managing a multitude of project teams, and addressingtechnical issues with complex mixed-use projects throughout the design and construction

process.

Throughout construction, Mr. Kirkish led the consultant project team for the Rosewood

Abu Dhabi, a 1.1 million square foot luxury hotel, residential and retail development,awarded the 2014 Gold Key award for Best Luxury Hotel. Prior notable projects include

the multifaceted phased (8 years) Jessie Plaza Development in San Francisco, which

included subterranean public parking and interconnecting pedestrian lanes withassociated retail, and required several special entitlements with attention to numerousneighboring interests. Within existing high-rises, he also managed a series of leading-edgeSports Club LA / Reebok additions and renovations in San Francisco, New York and

Boston. Other noteworthy projects include Hokua Residential & Mixed-Use Tower inHonolulu, and 149 Second Street – a historically sensitive office/retail and seismic retrofit,in San Francisco.

Prior to joining Handel Architects, in the Bay Area, Mr. Kirkish led construction

administration services on the Charles Schwab Electronic Headquarters rehab, and thefast-tracked Microsoft Campus, Mountain View, CA, and provided oversight of technicalissues for the BlueCross Headquarters Tower, Chicago.

Mr. Kirkish earned his Masters and Bachelors of Architecture Degrees from the University

of Wisconsin. He is a Certified Construction Contract Administrator, International CodeCouncil Member, LEED Accredited Professional and has served as a CaliforniaArchitectural Board Exam Commissioner.

H. PROJECT CAPITALIZATION

In its more than 30 year history, TPC has financed, constructed and completed everyproject on which it has begun development. TPC does not default on its financial

obligations, and therefore enjoys consistently strong credit ratings.

It is anticipated that the Project will be funded with a mixture of debt and equity. Givenits reputation and success, TPC is consistently able to attract to its projects the world'sleading investors as capital partners. Recently, these have included Goldman Sachs,

Deutsche Bank, Bank of America, DLJ, Jeffries, Apollo and Ares.





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During the RFP phase for the ocean front hotel development of 2212 Beach Boulevard,The Peebles Corporation intends to provide all required Letters of Interest for debt and

equity. Most recently, Peebles met the financial capacity requirements established byMassDOT/MBTA for the Parcel 13 – Hynes Station project in Boston, MA and requirementsestablished by The New York City Economic Development Corporation (NYCEDC) for 108

Leonard in New York, NY which have total development budgets of $350 million and $500million, respectively. We are confident that we will meet the requirements to be

established by the City of Pacifica.



IV: COMPARABLE HOTEL DEVELOPMENT EXPERIENCE





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IV. COMPARABLE HOTEL DEVELOPMENT EXPERIENCE

The Peebles Corporation has a pipeline of $1.35 billion and approximately 2.2 millionsquare feet across five projects. It should be noted each project in TPC’s pipeline is a

public-private partnership, in which TPC partners with the public sector to maximize the

value of its underutilized assets.

The Development Team has a long standing and successful track record of investing,

developing and completing hospitality assets in select urban infill metropolitan marketsthrough several economic cycles.

Please see Appendix C for the completed Attachment B by The Peebles Corporationand Starwood Hotels & Resorts.

A. THE PEEBLES CORPORATION COMPLETED COMPARABLE PROJECTS

Courtyard by Marriott Convention Center, 900 F Street, NW Washington, DC

Convention Center Hotel

Construction Value. $25,000,000

Project Size. 188-Keys

Year Completed. 1997

The Courtyard Marriott, Lobby Photo The Courtyard Marriott, Exterior Photo

Project ObjectivesThis 135,000-SF hotel is located in Washington D.C.’s East End submarket, which has

gained significant momentum in recent years as the center of gravity has shifted east ofthe White House. This investment represents Peebles’ acumen in preempting market





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movements. While at the time of acquisition 9th & F Streets was on the fringe, today theProperty enjoys a prime location across the street from the National Portrait Gallery.

One of the first savings banks in Washington D.C., the building dates back to 1890 and ison the National Register of Historic Places. Peebles designed and executed the

complicated historic renovation of the structure, which has allowed the building to retainits original charm.

ApproachTPC bought 900 F Street in Washington, D.C., a former bank on the registry of historic

places, from the Redevelopment Land Corporation. During the course of design andconstruction TPC coordinated closely with elected officials and numerous District

agencies including the Historic Preservation and Renewal Board.

Key Features

Historic Restoration:

Adaptive reuse of a historic structure

ResultsTop Performing Asset.

The conversion into the 188-key Courtyard by Marriott Hotel and

Convention Center has resulted in the hotel being ranked #1 in performance for twoconsecutive years among Courtyard Hotels worldwide.

The Royal Palm Resort, 1545 Collins Avenue, Miami Beach, FL

Luxury Lifestyle HotelConstruction Value. $85,000,000

Project Size. 393-KeysYear Completed. 2002

Year Sold. 2005

The Royal Palm, Interior Photo The Royal Palm, Exterior Photo





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Project Objectives

In the mid- 1990s, there was a black tourism boycott of Greater Miami. In an effort toencourage tourism and right past wrongs, the City of Miami Beach created an incentiveprogram for African American developers, including- setting aside the Royal Palm hotel

for teams with significant minority stakeholders. After a competitive RFP process, thePeebles’ team was awarded the project.

Directly overlooking the Atlantic Ocean along the world famous Collins Avenue in theheart of South Beach, the Royal Palm was designed by world-renowned Arquitectonica.

The design combined two restored Art Deco Hotels and created a balancedatmosphere of an intimate boutique hotel while being the Beach’s largest hotel.

ApproachTPC was awarded the project through careful consideration of community stakeholder s’

needs and the strategic pursuit of the adjoining parcel. Peebles was under contract to

purchase the adjacent parcel at the time of the bid — the ability to create a larger hotelgave the team a competitive advantage, both in terms of achieving the City’s policyobjectives and a higher land value.

Key FeaturesHistoric Restoration:

Adaptive reuse of a historic structure

Value Maximization. At the time of sale, it was the highest price paid for a hotels on Miami

Beach at $127,500,000.

B. THE PEEBLES CORPORATION CURRENT COMPARABLE HOTEL PROJECTS

5th & I Streets

In partnership with the District of Columbia, ThePeebles Corporation was selected to redevelop901 5th Street NW, or “5th & I” into a nearly 250,000-

square-foot mixed-use project complementing

and enhancing Washington, D.C.’s dynamic andvibrant Mount Vernon Triangle neighborhood.

The plan, a 175-key SLS Boutique Hotel with 34

branded residences and various world-classamenities and entertainment offerings, will build on

the neighborhood’s vibrant culture with its uniquecombination of luxury and purpose. A “living room”





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lounge, restaurant, outdoor beer garden, and aniconic rooftop lounge will invite guests, residents,

and neighbors alike to stay and play, while theproperty’s ideal location puts them in walking

distance to The Verizon Center, Walter Washington

Convention Center, the Central Business District,and less than a mile away from both the White

House and Union Station.

In addition, and as part of its plan to revitalize and

enhance the neighborhood, The PeeblesCorporation will develop workforce housing in an

under-developed area east of the Anacostia River,

as well as two parks, Milian Park and Seaton Park,into family-friendly recreation areas.

1801 Vine Street

In partnership with the City of Philadelphia, ThePeebles Corporation is redeveloping a historically

significant property known as The Judge NicholasA. Cipriani Family Court building.

The proposed development features a 216-key,full-service hotel to be operated by a leading hotel

management company under a luxury brand. Thecompleted property will feature a ground floorrestaurant, as well as a rooftop restaurant and

lounge.

The Property is within walking distance of thePennsylvania Convention Center and CenterCity’s many attractions including museums,

restaurants, and retail amenities.

The Property is listed on the National Register ofHistoric Places and is under the purview of thePhiladelphia Historical Commission and

Philadelphia Art Commission.



V: REFERENCES





19

V. REFERENCES

A. HOTEL, RESTAURANTS & AMENITIES

Company

Name

Hotel

Project

Individual

Name

Title Telephone Email

Peebles

InterContinental

Hotel Group

Royal

Palm,

Miami

Robert

Chitty

SVP

Corporate

Finance

(770) 604-5321 Bob.chitty@ihg.

com

The DonohoeCompanies

CourtyardMarriott,

DC

ChristopherBruch

President& COO

(202) 625-8402 [email protected]

Hospitality

Partners

Courtyard

Marriott,

DC

Michael

Dickens

President (301) 718-6161 Mike.dickens@h

ospart.com

Starwood

ChesapeakeLodging Trust

RoyalPalm,

Miami

Rick Adams EVP &COO


Triyar Hospitality

LLC

Aloft

Tempe

Michael

Mahoney

CEO (310) 234-2888 mmahoney@triy

ar.com

Stockbridge

Capital Group,

LLC

SLS Las

Vegas

Hotel &

Casino

Dan

Webster

Managing

Partner

(610) 688-2996 webster@sbfund

.com

mailto:[email protected]


































20

B. FINANCIAL RELATIONSHIPS (PEEBLES ONLY)

Company

Name

Individual

Name


Goldman

Sachs

Beth

Gordon

Vice

President


MacFarlane

Partners

Victor

MacFarlane

Chairman

& CEO

(415) 356-2500 vmacfarlane@macfarlanep

artners.com

Capri

Capital

Quintin

Primo

Chairman

& CEO


C. PUBLIC SECTOR, GOVERNMENT AND COMMUNITY (PEEBLES ONLY)

Company

Name

Individual

Name


NYCEDC Jeffery

Nelson

Vice

President


D.C. DGS

Portfolio

Division

Charleen

Ward

Realty

Program

Specialist


City of Miami

Beach

Jorge

Gonzalez

(Fmr.) City

Manager

(305) 695-0588 Not available.

DMPED William Lee Project

Manager


MassDOT William

Tuttle

Director of

Projects


.us




























APPENDIX A: STARWOOD HOTELS & RESORTS LETTER OFINTEREST



January 20, 2016

Via Email

Gregory ColaThe Peebles Corporation

745 Fifth Avenue, Suite 1610 New York, NY 10151

Re: Proposed Hotel at 2212 Beach Boulevard, Pacifica, California

Dear Mr. Cola:

Thank you for your interest in Starwood’s involvement in the proposed hotel on Beach Boulevard inPacifica, California (the “Hotel”). Based on our understanding of the market and your description of the

project, we are pleased to express our interest in further evaluating this opportunity. We have separately prepared further explanation of Starwood’s powerful global systems and dynamic management, whichwill make the Hotel an attractive destination for guests and residents. Starwood has reshaped the public

perception of the hotel experience with its emphasis on innovation, design and brand differentiation and believes the Hotel will benefit from this expertise from the initial planning stages through opening and

ongoing operations.

Starwood’s goal would be to collaborate with The Peebles Corporation and the City of Pacifica to develop

a successful positioning strategy for the hotel and a design that is both forward thinking and timeless. We believe developing either a boutique hotel under the Tribute Portfolio or the Aloft Pacifica would

ultimately provide a beloved hotel for the area.

As we have discussed, Starwood will continue to evaluate the project as the development process

continues. Please note that this letter is only an expression of our interest to further evaluate thisopportunity and does not create any legally binding obligation on Starwood. You should not rely on this

letter, or any further discussions regarding this potential transaction as an agreement, offer or commitment by Starwood to enter into any transaction with respect to the Hotel.

Please let us know if you have any questions, and we look forward to continuing our discussions withyou.

Sincerely,

Charlotte DeHavenVice President of Development

cc: Adrienne Jubb, Director of Development



APPENDIX B: DEVELOPMENT TEAM QUALIFICATIONS



peeblescorp.com

New York CityPhiladelphiaWashington, D.C.

rancisco

MiamiMiami Beach

••• •

••

• Boston



ABOUT

The Peebles Corporation is a privately held national real estate

investment and development company specializing in residential,

hospitality, retail, and mixed-use commercial properties. Founded

in 1983 by R. Donahue Peebles, the company has become an

industry leader with a portfolio of completed and current

developments totaling more than 6 million square feet and more

than $5 billion in key markets including New York, Philadelphia,

Washington D.C., San Francisco, Boston, Miami and Miami Beach.

The Peebles Corporation strategically selects its projects with

excellence and community commitment in mind. High-quality

development, elegant materials, meticulous engineering, along

with careful construction and craftsmanship are united with

premier locations, attention to neighborhood context,

environmental best-practices, historic preservation and innovative

design for transformative results.

peeblescorp.com



R. DONAHUE PEEBLESChairman & CEO

Recognized as one of the most successful entrepreneurs in the nation, R.

Donahue Peebles is Founder, Chairman and CEO of The Peebles Corporation,

one of the country’s few national privately held real estate investment and

development companies with a multi-billion dollar portfolio of projects in New

York, Washington D.C., Philadelphia, San Francisco, Boston, Miami and Miami

Beach.

In addition to his role as CEO of The Peebles Corporation, Mr. Peebles is a top-

selling author (The Peebles Principles and The Peebles Path to Real Estate

Wealth), a regular guest on CNN, CNBC and FOX, and a highly sought-after

speaker who has addressed educational, business and professional audiences

across the United States.


entrepreneurship, as well as an active political supporter and fundraiser for

local, state and federal campaigns of both major parties. He is currently the

Vice Chairman of the Board of the Congressional Black Caucus, served on the

National Finance Committee of President Barack Obama, the Board of

Directors of YMCA of Greater New York, Miami-Dade County Mayor Gimenez’sBusiness Roundtable, and is former Chairman of the Greater Miami Convention

and Visitors Bureau.

peeblescorp.com



SELECT AWARDS

The Beacon Award

“Developer of the Year” by Women Builders Council of New York

“Company of the Year” by Black Enterprise

"Best Real Estate Deal of the Year" by Ernst & Young for The

Residences at The Bath Club

"Community Leader" Award from the Miami Dade Chamber of

Commerce

“Hotel of the Year” Award by Crown Plaza for The Royal Palm

“Outstanding Hotelier of the Year” by Hotel Owners, Operators &

Developers for The Royal Palm Hotel

"Florida's Best" Platinum Architect Award and Overall Project

Award from The Builders Association of South Florida and The

Miami Herald for The Residences at The Bath Club

peeblescorp.com



R. DONAHUE PEEBLESChairman & CEO

Recognized as one of the most successful entrepreneurs in the nation, R.

Donahue Peebles is Founder, Chairman and CEO of The Peebles Corporation,

one of the country’s few national privately held real estate investment and

development companies with a multi-billion dollar portfolio of projects in New

York, Washington D.C., Philadelphia, San Francisco, Boston, Miami and Miami

Beach.

In addition to his role as CEO of The Peebles Corporation, Mr. Peebles is a top-

selling author (The Peebles Principles and The Peebles Path to Real Estate

Wealth), a regular guest on CNN, CNBC and FOX, and a highly sought-after

speaker who has addressed educational, business and professional audiences

across the United States.


entrepreneurship, as well as an active political supporter and fundraiser for

local, state and federal campaigns of both major parties. He is currently the

Vice Chairman of the Board of the Congressional Black Caucus, served on the

National Finance Committee of President Barack Obama, the Board of

Directors of YMCA of Greater New York, Miami-Dade County Mayor Gimenez’sBusiness Roundtable, and is former Chairman of the Greater Miami Convention

and Visitors Bureau.

peeblescorp.com



PORTFOLIO: SIGNATURE PROJECTS

peeblescorp.com



10 G STREET N.E. – WASHINGTON, D.C.

This project demonstrates how The Peebles Corporation employed a common-se

approach to complex negotiations to achieve a highly desirable outcome.

Located just a few blocks from the U.S. Capitol and Union Station, this 280,000-squ

foot Class A office building houses the American Psychological Associat

headquarters, Amtrak offices and other private-sector and non-profit organizations

This was an early example of how the company successfully influenced mul

stakeholders with conflicting agendas for redevelopment. "Opportunities com

everyone," according to Don Peebles, "but the winner is the one prepared to t

advantage of them when they arrive." The Peebles Corporation has since sol

interest in the project.

250 BRANNON – SAN FRANCISCO, CA

250 Brannan represents the opportunistic acquisition of a fully equipped o

building left vacant in the SOMA district in the wake of the dot-com meltdown.

Peebles Corporation purchased the 90,000-square-foot property and its 175 par

spaces at a significant discount to its intrinsic value, and successfully rezoned

accommodate a residential conversion that would capitalize on the location

premium for convenient parking. While preparing to initiate sales, the SOMA of

market took a favorable turn, and The Peebles Corporation profited from an attracrisk-adjusted return through the sale of the property on an as-is basis.

The outcome was in line with the company’s core strategy of enhanced value capt

by the initial investment and subsequent expansion through redevelopm

repositioning and/or zoning modification.

peeblescorp.com



2100 MARTIN LUTHER KING, JR. AVENUE, S.E. – WASHINGTON, D.C.

This office building was The Peebles Corporation’s first commercial real es

development, as well as its first public/private venture.

The design of this 100,000-square-foot project involved the preservation of a s

historic Art Deco structure and the introduction of new construction. Developed i

economically distressed section of the city, the finished building has been cred

with contributing to the area's economic revitalization.

The property was featured on the "Parade of Mayors" tour as an example of excelle

in urban renewal. Today, it is leased primarily to the government of the Distric

Columbia.

COURTYARD BY MARRIOTT – WASHINGTON, D.C.

Built in 1891 and listed on the National Register of Historic Places, this pro

showcases the company's ability to reconcile seemingly conflicting developm

needs.

The extensive renovation of the former Washington Loan & Trust building inclu

restoration of original marble floors, the ornate gold-leaf ceiling, and the lob

Corinthian columns.

The conversion into the 188-key Courtyard by Marriott Hotel and Convention Ce

has resulted in the Center being ranked #1 in performance for two consecutive y

among Courtyard Hotels worldwide. The 135,000-square-foot property is located

the Smithsonian Mall, the Verizon Center and Pennsylvania Avenue.

peeblescorp.com



THE LINCOLN – MIAMI BEACH, FL

This mixed-use project was one of the first Class A office buildings on South Be

located within steps of world-famous Lincoln Road.

Witnessing the growing appeal of Lincoln Road to an expanding wave of natio

retailers, The Peebles Corporation undertook a public/private partnership with the

of Miami Beach.

This 200,000-square-foot building combines office and retail space with a m

needed six-level public parking garage. The Peebles Corporation focused on the ma

nuances, which in turn attracted strong, committed office tenants.

THE RESIDENCES AT THE BATH CLUB – MIAMI BEACH, FL

Representing the pinnacle of ultra-luxury condominium living, this project comb

historic preservation with the needs of modern oceanfront development.

Having led the market in price per square foot at its sales launch, The Residence

The Bath Club successfully blends a meticulously restored 1928 private club wi

modern 107-unit condominium tower and six Mediterranean-style oceanfront villa

Services and amenities are modeled after those of a 5-star resort hotel. All reside

include private or semi-private elevators and floor-to-ceiling "walls of glass." Eacthe six large villas features a private infinity-edge pool and direct beach access. S

the launch of the project, the value of these residences has increased dramatically.

peeblescorp.com



THE ROYAL PALM HOTEL – MIAMI BEACH, FL

Ideally located on Collins Avenue in the heart of Miami Beach's Art Deco District,

Royal Palm has a fabled history brought vividly to life by The Peebles Corporation.

The Royal Palm combined the architectural assets of two existing hotels – the orig

Royal Palm and the Shorecrest – along with two new 17-story towers and a three-s

row of lanai suites. The result was a graceful integration of historic preservation

new construction.

The hotel was among the first nationally branded hotels on South Beach, and

awarded "Hotel of the Year" within its franchise. Today, after a change of owners

the hotel is known as The James.

peeblescorp.com



PORTFOLIO: PROJECTS IN DEVELOPMENT

peeblescorp.com



108 LEONARD STREET – NEW YORK, NY

In 2013, The Peebles Corporation acquired the single largest building ever sold by

City of New York, a late 19th-century Tribeca landmark.

This Renaissance-Revival palace in Lower Manhattan was completed in 1898,

included a thirteen-story addition by the legendary architect architectural firm

McKim, Mead & White, whose designs for the first Madison Square Garden

Pennsylvania Station set the esthetic standard in turn-of-the-century New Yor

1987, the exterior and much of the interior spaces at 108 Leonard Street w

designated as New York City landmarks.

Redevelopment plans for this 419,000-square-foot Tribeca landmark will

announced Fall 2015.

1801 VINE STREET – PHILADELPHIA, PA

The historic neo-classical former courthouse on Philadelphia's Logan Circle

become, under guidance of The Peebles Corporation, the first major hotel in Ce

City to be developed by a minority-owned firm.

The company has assembled a world-class team of collaborators to transform

building into a 247,000-square-foot, 199- room luxury hotel, with the expe

inclusion of a 16,000-square-foot spa and fitness center, 14,000 square feet of meeand event space, and 5800 square feet for a restaurant and bar.

The transformation of this grand building is based on a sensitive approach to

historic preservation of the structure's interiors and exterior façade. Newly

purposed spaces will include a spectacular ballroom, a world-class d

establishment, a roof-top lounge, and some of the largest hotel guest rooms in

city.

peeblescorp.com



5TH & I STREET – WASHINGTON, D.C.

In May 2014, The Peebles Corporation was selected to redevelop 901 5th Street

or “5th & I” into a nearly 250,000-square-foot mixed-use project complementing

enhancing Washington, D.C.’s dynamic and vibrant Mount Vernon Tria

neighborhood.

The plan, a 198-key boutique hotel with 59 branded residences and various wo

class amenities and entertainment offerings, will build on the neighborhood’s vib

culture with its unique combination of luxury and purpose. A “living room” lou

restaurant, outdoor beer garden, and a rooftop lounge will invite guests, residents,

neighbors alike to stay and play, while the property’s ideal location puts them

walking distance to The Verizon Center, Walter Washington Convention Center,

Central Business District, and less than a mile away from both the White House

Union Station. In addition, and as part of its plan to revitalize and enhance

neighborhood, The Peebles Corporation will develop workforce housing in an un

developed area east of the Anacostia River, as well as two parks, Milian Park

Seaton Park, into family-friendly recreation areas.

THE BATH CLUB ESTATES – MIAMI BEACH, FL

This high-end boutique condominium builds on the success of The Residences at

Bath Club to extend a legacy brand and bring together a team of celebr

contemporary architects and interior designers in a striking new joint artistic ventu

A limited-edition collection of just 13 full-floor residences on the ocean, The Bath

Estates captures the essence of private oceanfront living, while reflecting each own

aesthetic standards. In addition to signature architecture by Bernardo Fort-Bresc

Architectonica, The Bath Club Estates will offer the interior design services of s

design luminaries as Alexandra Champalimaud, Jennifer Post, Joao Armentano

Alison Spear.

peeblescorp.com



THE VIOLA BACK BAY – BOSTON, MA

In January 2015, The Peebles Corporation was selected to develop a cr

intersection in Boston’s historic Back Bay neighborhood. Dubbed The Viola Back Ba

homage to the adjacent Berklee College of Music, the proposed 390,000-square-

landmark development will be the company’s first in Boston.

Featuring a 156-key boutique lifestyle hotel, 88 condominiums, 85 class-A reside

rental apartments, and 20,000 square feet of retail, the transformative project aim

link the Back Bay and Fenway neighborhoods and reinvigorate the Newbery St

corridor with its distinctive design and diverse mix of uses, respectively. In addi

and as part of the company’s ongoing commitment to delivering innovative result

the communities in which it builds, The Viola Back Bay’s transit-oriented design

include a new, universally accessible, state-of-the-art Hynes MBTA Station.

DOWNTOWN MIAMI BLOCKS 45 AND 55 – MIAMI, FL

Block 45 is a mixed-use, transit-friendly development consisting of 900,000 g

square feet, including 350 rental apartments, a 150-room hotel, office space

ground-level retail. Block 55 will consist of two 20-story towers of approxima

500,000 gross square feet each, plus parking, for a total of nearly 1 million g

square feet of development.

Located in the historic Overtown section of Downtown Miami, this project residents, hotel guests and shoppers in the midst of some of the city's premier a

business and entertainment districts. Situated here are the American Airlines Ar

the Adrienne Arsht Center for the Performing Arts and the new Perez Art Mus

Miami. Within a two-mile radius are the Brickell Financial District and the Wynw

Arts District.

peeblescorp.com



peeblescorp.com

New York CityPhiladelphiaWashington, D.C.

rancisco

MiamiMiami Beach

••• •

••

• Boston



R. DONAHUE PEEBLES

CHAIRMAN AND CHIEF EXECUTIVE OFFICER

ASSOCIATIONS

Congressional

Black

Caucus

Foundation,

Chairman

of

the

Board

of

Directors

YMCA of Greater New York, Member of the Board of Directors

Miami‐Dade County Mayor Gimenez’s Business Roundtable, Member

Phi Beta Sigma Fraternity, Inc., Honorary Member

National Finance Committee of President Barack Obama, Two‐time Former Member

Greater Miami Convention and Visitors Bureau, Former Chairman

REFERENCES

The Royal Palm, Miami Beach

Jorge Gonzalez

City Manager of Miami Beach

1700 Convention Center Drive

Miami Beach, Florida 33139

(305) 673

‐7010

[email protected]

2100 Martin Luther King, Jr. Avenue, Washington, D.C.

J. Forest Hayes

Associate Director | Portfolio

DC Department of General Services

(202) 724‐4109

[email protected]

Charleen Ward, Realty Program Specialist

DGS ‐ Portfolio Division

2000

14th

Street,

NW

–

Eighth

Floor

Washington, DC 20009

(202) 724‐4148

[email protected]



SUMMARY

Recognized as one of the most successful entrepreneurs in the nation, R. Donahue Peebles is Founder, Chairman

and CEO of The Peebles Corporation, one of the country’s few national privately held real estate investment and

development companies with a multi‐billion dollar portfolio of projects in New York, Washington D.C., Philadelphia,

Boston, Miami and Miami Beach.

In addition to his role as CEO of The Peebles Corporation, Mr. Peebles is a top‐selling author (The Peebles Principles

and The Peebles Path to Real Estate Wealth), a regular guest on CNN, CNBC and FOX, and a highly sought‐after

speaker who has addressed educational, business and professional audiences across the United States.

Mr. Peebles is an avid supporter of mentoring to expose youth to the value of entrepreneurship, as well as an active

political supporter and fundraiser for local, state and federal campaigns of both major parties.

SELECT AWARDS

"Developer of the Year" by the Women Builders Council of Greater New York

“The Business Trailblazers and Titans of Black America: 40 most powerful African Americans in business” by

Black Enterprise

“Entrepreneur of

the

Year”

at

the

Best

of

Black

Business

Awards

“Entrepreneur of the Year” from the South Florida Business Journal

“Entrepreneur of the Year” by the Miami‐Dade Chamber of Commerce

National Executive Service Corps Award for “Outstanding Service to the Non‐Profit Community”

Honored by Miami‐Dade Career Specialist Association for Dedication to Career Enhancement

“Reginald F. Lewis Award” for Entrepreneurship

“Entrepreneur of the Year” presented by Rev. Jesse Jackson at the 11th annual Wall Street Project Economic

Summit

Inducted into the Martin Luther King International Board of Renaissance Leaders Hall of Fame at Morehouse

College

DEVELOPMENTS

The Peebles Corporation is known for its transformative residential, commercial and mixed‐use developments in

major American gateway cities.

Select signature developments include 2100 Martin Luther King, Jr. in Washington, D.C., which has been credited

with contributing to the area's economic revitalization; the Courtyard by Marriott Hotel and Convention Center in

D.C., a top‐performer among Courtyard Hotels; The Royal Palm Hotel, one of the first nationally branded hotels on

South Beach; and luxury condominium, The Residences at The Bath Club, in conjunction with his restoration of the

historic Bath Club, the oldest social club in the southeast United States.

In 2013, Peebles acquired 346 Broadway for $160 million in what was the largest single‐building sale in New York

City government history. Development plans for the Renaissance Revival landmark and former New York Life

Insurance

Building

include

luxury

condominiums.

In 2014, Peebles was selected to redevelop Fifth and Eye, a parcel in Washington, D.C.'s burgeoning Mount Vernon

Triangle neighborhood, into a nearly 250,000‐square‐foot project to include a boutique hotel, branded residences

and more. As part of Peebles' transformative plan, the company will develop workforce housing in an under‐

developed are east of the Anacostia River, as well as two parks into family‐friendly recreation areas.

In 2015, the Massachusetts Bay Transportation Authority and Massachusetts Department of Transportation chose

Peebles for the development of a critical intersection in Boston's historic Back Bay neighborhood. Plans for the



proposed $330 million, 390,000‐square‐foot project – Peebles' first in Boston – include a hotel, condominiums,

rental apartments, retail, and a Hynes MBTA station.

In addition, Peebles is currently developing 1801 Vine Street, the historic neo‐classical former courthouse on

Philadelphia's Logan Circle into a hotel, which will be the first major hotel in Center City to be developed by a

minority‐owned

firm.

Miami

and

Miami

Beach

projects

include

a 900,000

‐square

‐foot

mixed

‐use

project

in

Downtown Miami and The Bath Club Estates, a super‐luxury condo development consisting of just 13 custom

residences on the Atlantic Ocean.

PORTFOLIO: SIGNATURE PROJECTS

2100 MARTIN LUTHER KING, JR. AVENUE, S.E. – WASHINGTON, D.C.

This office building was The Peebles Corporation’s first commercial real estate development, as well as its first

public/private venture. The design of this 100,000‐square‐foot project involved the preservation of a small historic

Art Deco structure and the introduction of new construction. Developed in an economically distressed section of

the city, the finished building has been credited with contributing to the area's economic revitalization. The

property was featured on the "Parade of Mayors" tour as an example of excellence in urban renewal. Today, it is

leased primarily to the government of the District of Columbia.

COURTYARD

BY

MARRIOTT

–

WASHINGTON,

D.C.

Built in 1891 and listed on the National Register of Historic Places, this project showcases the company's ability to

reconcile seemingly conflicting development needs. The extensive renovation of the former Washington Loan &

Trust building included restoration of original marble floors, the ornate gold‐leaf ceiling, and the lobby's Corinthian

columns. The conversion into the 188‐key Courtyard by Marriott Hotel and Convention Center has resulted in the

Center being ranked #1 in performance for two consecutive years among Courtyard Hotels worldwide. The

135,000‐square‐foot property is located near the Smithsonian Mall, the Verizon Center and Pennsylvania Avenue.

10 G STREET N.E. – WASHINGTON, D.C.

Located just a few blocks from the U.S. Capitol and Union Station, this 280,000‐square‐foot Class A office building

houses the American Psychological Association's headquarters, Amtrak offices and other private‐sector and non‐

profit organizations. The Peebles Corporation has since sold its interest in the project.

250 BRANNON – SAN FRANCISCO, CA

The Peebles Corporation purchased the 90,000‐square‐foot property and its 175 parking spaces at a significant

discount to its intrinsic value, and successfully rezoned it to accommodate a residential conversion that would

capitalize on the location and premium for convenient parking. While preparing to initiate sales, the SOMA office

market took a favorable turn, and The Peebles Corporation profited from an attractive risk‐adjusted return through

the sale of the property on an as‐is basis. The outcome was in line with the company’s core strategy of enhanced

value captured by the initial investment and subsequent expansion through redevelopment, repositioning and/or

zoning modification.

THE LINCOLN – MIAMI BEACH, FL

This mixed‐use project was one of the first Class A office buildings on South Beach, located within steps of world‐

famous Lincoln Road. Witnessing the growing appeal of Lincoln Road to an expanding wave of national retailers,

The Peebles

Corporation

undertook

a public/private

partnership

with

the

City

of

Miami

Beach.

This

200,000

‐square

‐

foot building combines office and retail space with a much‐needed six‐level public parking garage.

THE RESIDENCES AT THE BATH CLUB – MIAMI BEACH, FL

Representing the pinnacle of ultra‐luxury condominium living, this project combines historic preservation with the

needs of modern oceanfront development. Having led the market in price per square foot at its sales launch, The

Residences at The Bath Club successfully blends a meticulously restored 1928 private club with a modern 107‐unit

condominium tower and six Mediterranean‐style oceanfront villas. Services and amenities are modeled after those

of a 5‐star resort hotel. All residences include private or semi‐private elevators and floor‐to‐ceiling "walls of glass."



Each of the six large villas features a private infinity‐edge pool and direct beach access. Since the launch of the

project, the value of these residences has increased dramatically.

THE ROYAL PALM HOTEL – MIAMI BEACH, FL

Ideally located on Collins Avenue in the heart of Miami Beach's Art Deco District, The Royal Palm has a fabled history

brought vividly

to

life

by

The

Peebles

Corporation.

The

Royal

Palm

combined

the

architectural

assets

of

two

existing

hotels – the original Royal Palm and the Shorecrest – along with two new 17‐story towers and a three‐story row of

lanai suites. The result was a graceful integration of historic preservation and new construction. The hotel was

among the first nationally branded hotels on South Beach, and was awarded "Hotel of the Year" within its franchise.

Today, after a change of ownership, the hotel is known as The James.

PORTFOLIO: PROJECTS IN DEVELOPMENT

108 LEONARD STREET – NEW YORK, NY

In 2013, The Peebles Corporation acquired the single largest building ever sold by the City of New York, a late 19th‐

century Tribeca landmark. This Renaissance‐Revival palace in Lower Manhattan was completed in 1898, and

included a thirteen‐story addition by the legendary architect architectural firm of McKim, Mead & White, whose

designs for the first Madison Square Garden and Pennsylvania Station set the esthetic standard in turn‐of ‐the‐

century New York. In 1987, the exterior and much of the interior spaces at 108 Leonard Street were designated as

New York

City

landmarks.

Redevelopment

plans

for

this

419,000

‐square

‐foot

Tribeca

landmark

include

luxury

condominiums.

1801 VINE STREET – PHILADELPHIA, PA

The historic neo‐classical former courthouse on Philadelphia's Logan Circle will become, under guidance of The

Peebles Corporation, the first major hotel in Center City to be developed by a minority‐owned firm. The company

has assembled a world‐class team of collaborators to transform the building into a 247,000‐square‐foot, 199‐ room

luxury hotel, with the expected inclusion of a 16,000‐square‐foot spa and fitness center, 14,000 square feet of

meeting and event space, and 5800 square feet for a restaurant and bar. The transformation of this grand building

is based on a sensitive approach to the historic preservation of the structure's interiors and exterior façade. Newly

re‐purposed spaces will include a spectacular ballroom, a world‐class dining establishment, a roof ‐top lounge, and

some of the largest hotel guest rooms in the city.

5TH & I STREET – WASHINGTON, D.C.

In May 2014, The Peebles Corporation was selected to redevelop 901 5th Street NW, or “5th & I” into a nearly

250,000‐square‐foot mixed‐use project complementing and enhancing Washington, D.C.’s dynamic and vibrant

Mount Vernon Triangle neighborhood. The plan, a 198‐key Standard Boutique Hotel with 59 branded residences

and various world‐class amenities and entertainment offerings, will build on the neighborhood’s vibrant culture

with its unique combination of luxury and purpose. A “living room” lounge, restaurant, outdoor beer garden, and

The Standard's iconic rooftop lounge will invite guests, residents, and neighbors alike to stay and play, while the

property’s ideal location puts them in walking distance to The Verizon Center, Walter Washington Convention

Center, the Central Business District, and less than a mile away from both the White House and Union Station. In

addition, and as part of its plan to revitalize and enhance the neighborhood, The Peebles Corporation will develop

workforce housing in an under‐developed area east of the Anacostia River, as well as two parks, Milian Park and

Seaton Park, into family‐friendly recreation areas.

THE VIOLA BACK BAY – BOSTON, MA

In January 2015, The Peebles Corporation was selected to develop a critical intersection in Boston’s historic Back

Bay neighborhood. Dubbed The Viola Back Bay in homage to the adjacent Berklee College of Music, the proposed

390,000‐square‐foot landmark development will be the company’s first in Boston. Featuring a 156‐key boutique

lifestyle hotel, 88 condominiums, 85 class‐A residential rental apartments, and 20,000 square feet of retail, the

transformative project aims to link the Back Bay and Fenway neighborhoods and reinvigorate the Newbery Street

corridor with its distinctive design and diverse mix of uses, respectively. In addition, and as part of the company’s

ongoing commitment to delivering innovative results for the communities in which it builds, The Viola Back Bay’s



transit‐oriented design will include a new, universally accessible, state‐of ‐the‐art Hynes MBTA Station.

DOWNTOWN MIAMI BLOCKS 45 AND 55 – MIAMI, FL

Block 45 is a mixed‐use, transit‐friendly development consisting of 900,000 gross square feet, including 350 rental

apartments, a 150‐room hotel, office space and ground‐level retail. Block 55 will consist of two 20‐story towers of

approximately 500,000

gross

square

feet

each,

plus

parking,

for

a total

of

nearly

1 million

gross

square

feet

of

development. Located in the historic Overtown section of Downtown Miami, this project puts residents, hotel

guests and shoppers in the midst of some of the city's premier arts, business and entertainment districts. Situated

here are the American Airlines Arena, the Adrienne Arsht Center for the Performing Arts and the new Perez Art

Museum Miami. Within a two‐mile radius are the Brickell Financial District and the Wynwood Arts District.



CHRIS LENG SMITH

DEVELOPMENT DIRECTOR

‐NORTHEAST

EDUCATION

MBA – Finance, International Business, Columbia Business School

BA (Honors) – Engineering, Cambridge University

ASSOCIATIONS

Urban Land Institute, Member

REFERENCES

Atlantic Station mixed‐use:

Peter Seeley

Managing Director – Head of Real Estate

Starr Insurance

Holdings

Inc.

646‐227‐6783

[email protected]

Atlantic Station SouthTrust office building:

Jeffrey Freeman

Associate Director

Turner & Townsend Ferzan Robbins

212‐810‐4866

[email protected]

SUMMARY

Chris Leng Smith is responsible for the overall execution and day‐to‐day management of The Peebles Corporation’s

developments in the Northeastern and mid‐Atlantic United States. Prior to joining the company, Mr. Leng Smith was

Senior Vice President with the New York City Economic Development Corporation (NYCEDC) where he led the

structuring and negotiation of public‐private partnerships and transactions for more than 2.5 million square feet of

developments including Flushing Commons, the Battery Maritime Building, and Coney Island, to name a few.

Before NYCEDC, Mr. Leng Smith managed the financial analysis, project planning, market positioning, design, and

preliminary leasing of more than $5 billion of world‐class domestic and international real estate projects as Senior



Director of Tishman Speyer and Vice President of AIG Global Real Estate Investment Corp. Mr. Leng Smith began his

career as a resident engineer and engineering project manager on large‐scale renovation and construction projects

in New York, Trinidad, Malaysia, and London.

EXPERIENCE

NYC ECONOMIC DEVELOPMENT CORPORATION, New York, NY. As Senior Vice President, Leng Smith managed team

responsible for the execution of large, mixed‐use, public‐private developments on behalf of the City of New York.

Responsibilities included taking projects through the City’s politically sensitive Uniform Land Use Review Procedure.

Projects for which he negotiated the sale of, agreements for redevelopment and/or disposition of land included

Flushing Commons, Battery Maritime Building, Coney Island, Brooklyn Army Terminal, Brooklyn Academy of Music,

and Broadway Plaza.

TISHMAN SPEYER, New York, NY. As Senior Director, Leng Smith managed development projects in China totaling

more than 12 million square feet of residential, office and mixed‐use as a value add partner and bridge between US

functional experts and the local development teams. He managed all aspects of projects from financial analysis and

project planning to market positioning, design, and preliminary leasing. He also modified development plans to

accommodate changing

markets

and

enhanced

returns

by

reducing

development

costs

and

increasing

building

efficiencies.

AIG GLOBAL REAL ESTATE INVESTMENT CORPORATION, New York, NY. As Vice President, Leng Smith managed

renovation and development of world‐class domestic and international office, retail, residential and hotel

properties. He was responsible for analyzing potential markets, underwriting investments as well as hiring and

overseeing on‐site construction managers. During this time, he managed the negotiation, underwriting, structuring,

renovation, and design of nearly $1 billion of property in Asia, UK, Eastern Europe, Puerto Rico, Connecticut and

Vermont.

SAKS FIFTH AVENUE, New York, NY. As Director of Real Estate Administration, Leng Smith administered and

controlled a $50 million capital program for new construction and renovation of 45 stores.

COOPERS &

LYBRAND,

MANAGEMENT

CONSULTING

SERVICES,

New

York,

NY.

As

Senior

Consultant,

Leng

Smith

conducted financial analyses and evaluated real estate acquisition/ disposition plans, market economics, site

selection and transaction structuring. Clients included Massachusetts Turnpike Authority, U.S. Department of

Housing & Urban Development, Columbia University, Olympia & York, Cleveland Public Library and Chemical Bank.

SELECT PROJECT EXPERIENCE

ATLANTIC STATION LAND DEVELOPMENT, Atlanta, GA. Joint Project Leader responsible for underwriting plus direct

oversight of financing, design, construction and land sales in association with local partner. Completed initial

underwriting then managed procurement of infrastructure contractor to complete remediation, road construction

and 7,000 space parking garage. Worked with legal team to develop organizational documents. Financing structure

included TAD bonds negotiated with City. Project handed over to local team at 95% completion of infrastructure

plus construction

of

approx.

1,200

residential

units

by

others.

ATLANTIC STATION MIXED‐USE, Atlanta, GA. Joint Project Leader responsible for underwriting plus direct oversight

of financing, leasing, design and construction in association with local partner. Underwrote development of 800,000

sf life‐style retail center with residential units and offices above. Managed design using conceptual architect and

local production architect. Oversaw retail leasing by brokerage team. With local team managed construction on top

of infrastructure parking. Sold residential space to investor prior to start of construction.



JIANGWAN NEW TOWN, Shanghai, China. Bridge and value add partner between US functional experts and the local

development team. Oversaw development of 10 million‐square‐foot, $3 billion master plan and initial construction

sequencing plan.

LONDON NEW HEADQUARTERS, London, England. Located site and negotiated purchase of land lease and new 125

year ground

lease.

Completed

underwriting

and

managed

design

and

construction

of

base

building

and

tenant

fit

‐out. Negotiated all associated contracts including those with design team and contractor. Completed building on

time and within budget.

SAN JUAN MARRIOTT RENOVATION, San Juan, Puerto Rico. Project Leader for renovation of guest rooms, meeting

rooms and ballroom, plus plumbing stacks of resort hotel. Took over project after completion of design. Located

off ‐island contractor and negotiated AIA based construction contract. Contractor completed work on time and

within budget despite work being added after opening of mechanical chases. Coordinated purchase of new FF&E

utilizing procurement agent.

SOUTHTRUST OFFICE BUILDING, Atlanta, GA. Completed underwriting plus managed design and tenant lease

negotiations. Directed local team overseeing construction. Building was sold 6 months after completion for more

than double the development cost.



TRIBUTE PORTFOLIO & ALOFT HOTELSPACIFICA

RESPONSE TO REQUEST FOR PROPOSAL



Response to Request for Proposal - PACIFICA

Shared Focus on Creating a Winning Culture. Starwood’s core belief that people want abetter way to experience the world extends not only to our guests and customers, but to ourglobal team of associates, too. Companies with winning cultures attract and retain the best talentand are well-positioned to be industry leaders. Starwood’s values, or what we call our“promises”, of (1) Go the Extra Step by taking actions that build lasting connections and loyalty;

(2) Play as a Team by working globally and across all teams in the company; and (3) Do theRight Thing by using good judgment, respecting our communities, associates, owners, partnersand the environment, are entirely aligned with Dart’s seven guiding principles.

Starwood has an outstanding track record of working with owners to develop successful hotels withinmixed-use projects and we are confident in our ability to do so in Pacifica. We recognize that this is aunique opportunity to secure a new development opportunity in a high-barrier-to-entry market, and we areexcited to discuss our proposal with you in more detail. Please do not hesitate to contact us with anyquestions.

Sincerely,

Charlotte DeHavenVice President of Development

cc: Adrienne Jubb, Director of Development




Table of Contents

Starwood Overview ......................................................................................................... 1 Tribute Portfolio Brand Overview .................................................................................. 17

Aloft Brand Overview ..................................................................................................... 26

Operational Expertise .................................................................................................... 30

References .................................................................................................................... 33

Programming ................................................................................................................. 35



1


Starwood Overview



2


THE STARWOOD PORTFOLIO BY BRAND

STARWOOD HOTELS & RESORTS IS A LEADER IN LIFESTYLE BRANDING

Starwood Hotels & Resorts Worldwide, Inc. is an innovative hotel and leisure company with over 1,200properties in 100 countries, and 181,400 employees at its owned and managed properties. Starwood is a fullyintegrated owner, operator and franchisor of hotels, resorts and residences with the following internationallyrenowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points®

by Sheraton, Aloft®, Element® and Tribute Portfolio®.

Starwood has reshaped the hospitality industry with its lifestyle branding approach which leverages design andinnovative programming combined with exceptional service to deliver unparalleled experiences that resonatewith guests and drive industry-leading premiums. With a focus on being the leading global hotel company withworld-class brands, quality global growth, experienced teams and a powerful sales and marketing platform,Starwood is strongly positioned for the future.

GLOBAL DISTRIBUTION

Starwood is poised for expansive growth with our ten distinct brands and their strong, global pipeline. Nearly

400 new properties are anticipated to enter the system by 2018, including more than 50 luxury properties.

THE STARWOOD PORTFOLIO BY DIVISION

North America: 612Europe, Africa, Middle East: 260 Asia Pacific: 303Latin America: 96TOTAL: 1,271

Owned: 3%Managed: 48%

Franchised: 49%

Source: Data as of Q3 2015



3


STARWOOD DOMINATES THE LUXURY AND UPPER-UPSCALE SPACE

Unlike many of our competitors, Starwood has one of the largest luxury and upper-upscale portfolios in theindustry. Our system-wide customer base, from group meeting planners to individual transient guests, isoriented to those customers seeking luxury and upper-upscale full service and premier hotel and resortproperties. Luxury and upper-upscale lodging space represents 85% of the Starwood portfolio.

*Source: Smith Travel Data, December 2014

SLS LAS VEGAS, A TRIBUTE PORTFOLIO RESORT



4


THE WORLD IS CHANGING IN STARWOOD’S FAVOR

As the world evolves and globalization continues, Starwood is well-positioned to capitalize on the emergingmiddle and upper classes, worldwide wealth creation and the next generations of travelers – giving a meaningfuladvantage to our owners in North America and across the world.

Seventy percent of the world’s growth over the next decade will come from emerging markets and we are well-positioned to grow all our brands across all segments as part of infrastructure development and response todemand. Starwood has by far the largest global presence and is continuing to grow rapidly in emerging marketslike China, India and the Middle East. Travelers from emerging markets will stay with brands they know,translating into more loyal guests for our owners in North America

We’re also seeing a shift in the demographics of luxury travelers. From established families to self-madeentrepreneurs. From traditional industries to new industries including technology, finance/hedge funds,entertainment and sports. This new global elite share a passion for success and want to live life to its fullest.

Aspen, given its magnificent location in the Rocky Mountains, is well-positioned to benefit from this expandingsegment seeking a high-end lifestyle experience. With direct, year-round access from such centers of wealth asNew York, Washington D.C., Los Angeles, Miami and Chicago, Aspen is well-positioned to function as a home-

away-from-home for this new generation of luxury traveler.

ACTIVE SPG MEMBERSHIP IN KEY EMERGING MARKETS HAS GROWN

SIGNIFICANTLY INTHE LAST FIVE YEARS



5


STARWOOD’S CENTRAL SUPPORT PLATFORM DRIVES SUCCESS

The Hotel would benefit from leveraging the strength of Starwood’s global platform given the size of Starwood’sportfolio of hotels. Through our world-class brands, global systems and experienced in-market teams, Starwooddelivers more affluent and discerning global customers to our hotels, resulting in a competitive, market-shareadvantage for our partners.

STARWOOD PREFERRED GUEST (SPG)

Starwood Preferred Guest is the industry’s most prestigious hotel loyalty program, with over 20 million activemembers. SPG members stay more often, spend more in our hotels and have a higher household income thanmembers of our competitors’ programs. SPG members contribute over 68% of total occupied room nights to Wproperties in North America at a 9% rate premium.

Member retention with SPG is extremely high – 78% of SPG Platinum members retain their status year-to-yearand are 26 times more profitable than the average guest. Of new SPG members, 66% come from outside theU.S., up from 50% just four years ago, demonstrating the power of our brands to drive loyalty globally.

Guests love the SPG program with features such as no blackout dates and no restrictions on hotel night

redemption. SPG is uniquely differentiated from competing loyalty programs with Starpoints that can betransferred to major airlines, unique award options through our SPG Moments program and the StarwoodPreferred Guest credit card by American Express®. SPG is continually focused on developing programmingthat drives loyalty and bookings among our most profitable guests.

The effort Starwood undertakes to gain and retain our most loyal members benefits our owners through onesimple fact: loyalty. During the heart of the recession in 2009, occupancy and average daily rates were downacross the country and across all segments. However, Starwood saw one group not only continue to stay, butstay more often: SPG guests. Non-SPG member occupancy was down over 9% in 2009, but SPG memberoccupancy actually grew more than 3%. In years where industry-wide occupancy declined, SPG memberoccupancy increased. This clearly demonstrates the power of loyalty and value of SPG to our ownershipcommunity.

CENTRAL MARKETING DELIVERY (CMD)

Starwood drives business to its hotels through a synergy of state-of-the-art booking technology, customercontact centers and compelling online channels. It’s a winning combination of impressive cross-sell and up-sellperformance that drives occupancy and rates. Over 50% of net consumed room revenue for Starwoodproperties in the North America is booked through our world-class central reservations systems.

The Centralized Marketing Delivery (“CMD”) Platform includes:

• Starwood Web Channels (30%): Each hotel is represented with its own series of content-rich propertypages accessible from multiple web channels including Starwoodhotels.com and SPG.com. Thesedigital channels are offered in 17 languages, handled over 340 million visits in 2014, and each isdelivered in branded voice, look and feel. These industry-leading booking engines offer world-classmarketing, international language capabilities and exceptional online customer support. Starwood andSPG also have an ongoing commitment to digital innovation to meet the needs of today’s connectedglobal traveler. The SPG app offers travelers a convenient way to search and explore destinations aswell as fast and easy personalized booking.



6


• Customer Contact Centers (CCC) (17%): Trained service agents handled nearly 21 million phone calls,emails, texts and guest interactions in 26 languages from 12 call centers around the world in 2014.Luxury specific calls/requests are handled by a dedicated luxury call center team.

• Global Distribution System (GDS) (15%): Cutting-edge technology ensures that properties receivemaximum exposure on the Global Distribution Systems used by travel agents around the world. GDSenables travel professionals around the world to book air travel, car rental and hotel rooms on acommon system.

The SPG mobile app continues to be a key focus for Starwood as it allows guests to have a continual dialoguewith and access to Starwood as well as ease of booking. The SPG app is Starwood’s fastest growing bookingchannel and an area where we are dominating the competition with innovative applications and content tocreate a personalized guest experience across our ten brands.

STARWOOD SALES ORGANIZATION (SSO)

As a global sales team, our sellers and proven sales programs have the power to drive occupancy and rates inan increasingly competitive environment. Our sellers build preferred relationships with the largest globalcustomers, resulting in a competitive, market-share advantage.

Over 450 global and divisional sellers based in over 30 offices around the world manage our top accounts, whileour network of nearly 5,100 metro market and property sellers manage bookings at the regional and local level,streamlining sales efforts. Last year, Starwood’s Sales Organization generated $7.5 billion in revenue globally.

Additionally, SSO develops and invests in unique programs that drive business to our hotels, keep our teamseducated and build loyalty with customers. Our strategic programs and revenue drivers include:

• SPG Pro: This comprehensive business-to-business loyalty program offers consistent Starpoint earningopportunities, benefits and recognition to drive loyalty and additional bookings among meeting plannersand travel professionals. Integrated with SPG, the program provides hotels with insight and branding tomarket to customers in a more targeted way. Launched in 2014, this program saw revenue growthamong these key stakeholders more than double compared to previous traditional offers.

• Starwood Preferred Business Program (SPB): This program drives revenue and increases market sharewith business from smaller-sized companies, rewarding them for their loyalty. In 2014, SPB generatednearly $200 million in business.

• Team HOT: Starwood’s internal referral program is the only hotel referral program that rewardsassociates with cash, driving our associates and hotels to keep Starwood customers within theStarwood system of hotels. In 2014, Team HOT generated over $200 million of incremental revenuethroughout the Starwood system globally

• StarwoodPro: This industry-leading education and development tool is strategically designed for ourtravel professional partners to keep Starwood top of mind when booking for their clients. This tool isheavily leveraged to educate and update our travel professional partners about the Hotel from thebeginning of the pre-sale process.

In addition, Starwood has the only dedicated luxury and leisure sales team of the major hotel companies. Ourowners benefit from a dedicated leisure team deployed against luxury accounts, top-producing travel agenciesand world-class luxury partners. Starwood has preferred partnership status with all key Luxury and LeisureConsortia, both established and emerging, with 20 of these top agents having participated in our annual LuxuryTravel Advisory Board. Starwood is the largest hotel partner working with the highly respected and covetedluxury hotel programs such as American Express Centurion, Fine Hotels & Resorts, Virtuoso, Signature,Ensemble, Altour and Vacation.com, reaching over 10,000 agency locations. Starwood also engages over100,000 Travel Professionals through the StarwoodPro strategy with communications, trade shows, events,marketing, advertising and public relations.



7


MARKETING RESOURCES

W properties are supported by global, divisional and property-level marketing teams. Our divisional teams willwork closely with the on-property team to create innovative and integrated marketing plans that buildawareness, drive bookings and increase customer preference and loyalty.

FIELD MARKETING

Serving as an online marketing agency, the Field Marketing team works directly with the properties toproactively fill hotels, especially during need periods and off-season, by leveraging online space and Weboptimization methods. This includes paid and organic-search marketing, niche strategies for resorts, group,corporate transient, weddings, national partnerships and email marketing campaigns to our SPG/non-SPGdatabase as well as group customers with special offers. Customer relationship marketing through StarwoodGuest Communications enables us to segment offers and up-sell on property amenities and services. Onaverage, Field Marketing generates $25 dollars of revenue for every one dollar spent.

ADVERTISING / E-MARKETING / SOCIAL MEDIA

Digital technology is a catalyst for globalization and change which plays to Starwood’s penchant for innovation.While we still have presence in traditional advertising outlets, we’ve shifted our marketing spend across all ourbrands to digital platforms and media. Working with field marketing, SPG and divisional brand teams, we areable to leverage online tactics for continual communications to drive awareness and loyalty as well as packageoffers targeted to consumers to drive bookings.

Our goal is to use digital technology to stay connected with people every single day, however, whenever andwherever they choose, inside and outside the hotel. Social media offers an emerging platform for connectingwith new and loyal guests. We also use it to monitor and protect our online reputation on third-party sites, buildrelationships with key online influencers, monitor and track emerging trends and improve customer retention andbrand market share. Facebook, Starbuzz, SPG Insider and Twitter feeds are examples of what we’re alreadydoing. In 2014, we were recognized as the leading hotel company to leverage social media by Hotels Magazine.

PUBLIC RELATIONS

In today’s consumer environment, earned media plays a critical role in driving brand preferences. The StarwoodPublic Relations team has a central role in our marketing strategy and we continuously outperform thecompetition, in both total circulation and frequency of tone-setting coverage. With a worldwide public relationsnetwork, Starwood focuses on driving media coverage for world-class properties globally with special focus onkey feeder markets for W Hotels.

REVENUE MANAGEMENT

Starwood’s Revenue Management program provides a world-class solution for managing pricing and inventory,thereby ensuring that revenues are maximized via all distribution channels. Starwood’s Revenue OptimizationSystems (“ROS”) combines all revenue management tools into one cloud-based system with integratedforecasting and optimization capabilities for better pricing and greater returns in a competitive pricingenvironment. Properties that installed these systems saw a 3% increase in RPI with 95% of the hotels seeing a

full return on investment within three months. The Revenue Management team also ensures each hotel activelyparticipates in all of Starwood’s brand marketing promotions and effective pricing and inventory strategies.

CENTRAL SOURCING

By leveraging our scale, our centralized supply chain services generate significant savings through strategicrelationships on the national, regional and local levels. Hotels using the centralized procurement program saveup to 15% compared to hotels that do not and further benefit from operating efficiencies and reducedaccounting, payroll and benefits expense by leveraging state-of-the-art eProcurement technology.



8


SUSTAINABILITY

Starwood is committed to finding innovative ways to do more with less while being good for the environment.We are helping to drive sustainability efforts by thinking about our buildings and business in a way that is agileand flexes with the changing needs of our guests, the environment and the communities in which we areoperating. Our environmental policy addresses six areas of opportunity: water, energy, indoor environmental

quality, waste, emissions and supply chain. Our initial worldwide focus is on energy and water with ourcommitment to reducing energy consumption by 30% and water consumption by 20% by the year 2020. Thesegoals are just the beginning of an ongoing journey toward environmental sustainability.

We are also focused on working with our development partners to implement sustainability practices.Starwood’s green design and construction guidance addresses both new development and major renovationprojects and aims to minimize environmental impact through proven and innovative building practices. EveryStarwood Architecture and Construction Project Manager is LEED-certified and committed to finding ways tosupport owners and developers in the pursuit of sustainable development.

SUSTAINABILITY MEETING ROOM AT THE SHERATON BANDARA HOTEL



9


TRIBUTE PORTFOLIO PROPERTY – SAVANNAH, GEORGIA



10


ALOFT NASHVILLE WEST END– NASHVILLE, TENNESSEE



11


TRIBUTE PORTFOLIO PROPERTY – NASHVILLE, TENNESSEE



12


ALOFT SAN JOSE HOTEL, COSTA RICA – COSTA RICA



13


ROYAL PALM SOUTH BEACH MIAMI, A TRIBUTE PORTFOLIO HOTEL



14


ALOFT CHICAGO CITY CENTER – CHICAGO, ILLINOIS



15


ROYAL PALM SOUTH BEACH MIAMI, A TRIBUTE PORTFOLIO HOTEL



16


ALOFT BWI BALTIMORE WASHINGTON INTERNATIONAL AIRPORT – BALTIMORE, MARYLAND



17


Tribute Portfolio

Brand Overview



18


STAY INDEPENDENT.

Pacifica is the ideal location to join the Tribute Portfolio given its clear vision and positioning to attract ahigh value clientele – both leisure and business – to the Bay Area. Add Starwood’s global infrastructure,developer friendly approach and clear leadership position in the upper upscale and luxury segments andPacifica will clearly become a sough-after destination for both travelers and locals alike.

ABOUT TRIBUTE PORTFOLIO

Tribute Portfolio gives guests access to exceptional upper upscale, independent hotels around the world.From boutique resorts to compelling hotels in choice locations, Tribute Portfolio hotels offer inspired styleand superior service. With Tribute Portfolio, owners can maintain their hotel’s individuality whileleveraging the power of Starwood Hotels & Resort’s global infrastructure to help maximize returns. It’sour celebration of individuality.

TRIBUTE PORTFOLIO IS AN EXCITING SOLUTION FOR OWNERS – WHO WANT TO

MAINTAIN THEIR HOTELS’ INDIVIDUAL IDENTITY WHILE LEVERAGING THE POWER OFSTARWOOD – AND TO SPG MEMBER WHO DESIRE UNIQUE HOTELS IN MORE CITIES

Known for a focus on innovation and strength in the upper upscale and luxury segments, Starwoodrealized there was a tremendous demand for this type of hotel collection. We heard it from both our loyalStarwood Preferred Guest members and partners. There are many independent hotels that don’tcurrently fit within our other nine brands, however, they would benefit from Starwood’s distributionchannels and loyal, high value guests and customers.

Additionally, SPG members have a growing demand for more high-quality lodging options when theytravel. In fact, nearly 70% of our SPG members surveyed have stayed at an independent hotel whenthere is a unique, appealing property or no Starwood property in the market. They also told us that whilethey like independent hotels that are distinctive, locally influenced and unique, they don’t like theantiquated booking systems, inconsistency and lack of loyalty program.

TRIBUTE PORTFOLIO OFFERS A DEVELOPER FRIENDLY APPROACH WITH LESS COSTS

THAN BEING ASSOCIATED WITH A HARD BRAND

Tribute Portfolio was developed with feedback from our partners. Priced competitively, the brand has thefollowing advantages:

• Standards are focused on ensuring the level of quality, safety and services our guests expectfrom an upper-upscale hotel

• Hotels can convert quickly and cost effectively with teams available to support the hotelsthroughout the process. Smart approach to PIP with focus on quality and lifecycle

• Straightforward, competitively priced bundled fee structure for centralized services. Servicesinclude reservations, sales, marketing, select technology, operations and revenue management.Third-party and one-time costs can are not included in the bundle

Focus is on creating a great experience. As we developed the brand, we gave special consideration towhat was important to our loyal guests and customers. Amenities such as a fitness center, strong wifiand quality food and beverage offerings are essential. We will work with each developer to create themost effective and compelling programming for the project given the market.



19


UNLIKE OUR COMPETITORS, STARWOOD’S MIX OF PROPERTIES IS HEAVILY WEIGHTED IN

UPPER UPSCALE AND LUXURY, DEMONSTRATING OUR PROVEN EXPERTISE IN THE SEGMENT

Tribute is a natural brand extension for Starwood. Starwood has long been a global powerhouse in theupper upscale segment which represents 80% of its portfolio. Our guests expect a high-quality

experience when they stay at a Starwood property and they are willing to pay a premium for it.

Additionally, Starwood pioneered the collection concept with The Luxury Collection brand which featuressome of the world’s most iconic independent luxury hotels. In the last decade, The Luxury Collection hastripled its footprint, growing more than 60% in the last five years alone.

TRIBUTE PORTFOLIO IS PROJECTED TO REACH 100 HOTELS BY 2020

Since launching in April 2015, we have had strong developer interest with five hotels announced to jointhe brand, including the iconic Royal Palm South Beach Miami, A Tribute Portfolio resort.

• Royal Palm South Beach Miami – Located on Collins Avenue with direct beach access, this hotelhas 393 guestrooms, two swimming pools surrounded by contemporary cabanas, a fullyequipped gym, and more than 10,000 square feet of modern meeting and event space andsignature dining options.

“We are excited to immediately enjoy the top-line benefits of Starwood’s high-end customer base and SPG

program, South Beach is largely a non-branded marketplace and by affiliating with Starwood, we will continue to

enjoy the flexibility of providing independent services and operating standards, yet benefit from the incredible

strength of our good partner’s global reservation system, distribution channels and powerful loyalty program.”

Jim Francis, CEO, Chesapeake Lodging TrustOwner of The Royal Palm Miami South Beach, A Tribute Portfolio Resort

0% 25% 50% 75% 100%

IHG

HILTON

MARRIOTT

HYATT

STARWOOD

LUXURY AND

UPPER UPSCALE

HOTELS

UPSCALE AND

MIDSCALE HOTELS



20


TRIBUTE PORTFOLIO PROPERTY – NASHVILLE, TENNESSEE



21


TRIBUTE PORTFOLIO PROPERTY – SAVANNAH, GEORGIA



22


TRIBUTE PORTFOLIO HOTELS BENEFIT FROM STARWOOD’S POWERFUL, GLOBAL

INFRASTRUCTURE AND REACH TO DRIVE PERFORMANCE

Tribute Portfolio guests can enjoy all the benefits of the best loyalty program in the business. Customerloyalty is built through differentiation and strengthened through innovative programming.

• Industry leading benefits encourage loyalty and stretcho Suite night awards, Your24 which allows guests to check in and out within any 24 hour

period, and Ambassador concierge services

o Richest elite tier benefits drive preference among the most profitable traveler segment

o Unique benefit structure designed to capture share and encourage stretch

• Rich promotions and campaigns designed to shift share and drive transactional volume

• Cutting edge technology creates a seamless, personalized experience

o Keyless check-in

o iPhone app

o SPG preferences

• Exclusive partnerships not only provide great moments for guests but also expands hotelexposure to different audiences. For example:

o SPG moments lets guests use points to get one-of-a-kind experiences that you can’tpurchase such as seeing great bands up close and back stage, a tennis lesson with Andre Agassi and pit access at a Formula One race

o Delta Crossover Rewards™ - SPG + Delta SkyMiles®: This exclusive partnership

between SPG and Delta SkyMiles launched in 2013 provides both companies’ bestcustomers reciprocal elite-level benefits. This partnership has driven nearly $100 millionin incremental revenue for Starwood while adding new, loyal SPG members. CrossoverRewards™ is an industry first with the goal to attract more loyalty members to eachcompany. Delta’s highest elite SkyMiles members will receive perks such as priority

check-in and late checkout. Additionally, all Delta elites will earn one mile per dollar spenton eligible Starwood room rates. In turn, SPG Platinum members will enjoy the benefit ofpriority check-in, one free checked bag and priority boarding when flying Delta. Plus, allSPG elites will earn one point per dollar spent on eligible flights. It’s a win-win programthat guests love.

o Uber + SPG are making Starpoints even easier to earn. Riders who are SPG membershave the opportunity to earn coveted Starpoints during any ride on the Uber platform.Uber users simply link their account to their new or existing SPG m accounts atspg.com/uber. After completing a qualifying stay at a Starwood hotel, SPG members canstart earning one Starpoint for every $1 spent on Uber, and additional bonus Starpointscan be accumulated during Starwood hotel stays.



23


EACH TRIBUTE PORTFOLIO PROPERTY BENEFITS FROM A HOTEL FOCUSED

MARKETING APPROACH

A third of the dollars earmarked for marketing in the centralized services bundle goes directly to

promoting the individual hotel across several channels. This includes:

• Digital marketing and paid search

o Developing and maintaining independent property pages

o Optimizing special web offer pages

o Purchasing, launch and optimizing online media placements

o Reviewing content on OTAs and providing recommendations to improve presence

o Working directly with property to maintain Facebook and other social media pages

• Sales and advertising collateral, including print and online ads

• On-property activation, including managing public relations, marketing plans, etc



24


TRIBUTE PORTFOLIO DISTRIBUTION & PIPELINE

The Tribute Portfolio surpassed its goal of signing ten deals in 2015. As of December 31, 2015, there are

six open and operating Tribute Portfolio properties globally with ten in the executed pipeline.

OPERATING

Royal Palm South Beach Miami, a Tribute Portfolio Resort

Miami Beach, FL, USA

393 Rooms

Opened in April 2015

Great Northern Hotel, A Tribute Portfolio Hotel, London

London, United Kingdom

91 Rooms

Opened in September 2015

The Riviera Palm Springs, a Tribute Portfolio Resort

Palm Springs, CA, USA

398 Rooms

Opened in November 2015

The Kiroro, a Tribute Portfolio Hotel, Hokkaido

Yoichi-gun, Hokkaido, Japan282 Rooms

Opened in November 2015

SLS Las Vegas, a Tribute Portfolio Resort

Las Vegas, NV, USA

1,623 Rooms

Opened in December 2015

The Hermitage, a Tribute Portfolio Hotel

Jakarta Pusat, Indonesia

90 Rooms

Opened in December 2015



25


EXECUTED PIPELINE

TRIBUTE PORTFOLIO LOCATION ROOMSANTICIPATED

OPEN DATE

Hotel Le Metropolitan, a Tribute Portfolio Hotel, Paris Paris, France 48 March 2016

Hotel Le Dokhan's, a Tribute Portfolio Hotel, Paris Paris, France 45 March 2016

Avenue of the Arts Costa Mesa, a Tribute Portfolio Hotel Costa Mesa, CA 238 April 2016

Colonnade Coral Gables, a Tribute Portfolio Hotel Coral Gables, FL 157 July 2016

Nashville - Noel, a Tribute Portfolio hotel

(Name Not Approved)Nashville, TN 220 Q1 2017

Fort Lauderdale Downtown, a Tribute Portfolio Hotel

(Name Not Approved)Fort Lauderdale, FL 209 Q4 2017

Charleston, a Tribute Portfolio hotel (Name Not Approved) Charleston, SC 100 Q1 2018

Savannah, a Tribute Portfolio hotel (Name Not Approved) Savannah, GA 173 Q1 2018

The Hotel Cassady, a Tribute Portfolio Hotel Denver, CO 165 Q2 2018

Tribute Asheville (Name Not Approved) Asheville, NC 152 Q2 2018



26




27


ALOFT BRAND OVERVIEW

Bold, sleek and unique, Aloft Hotels completely redefined the select service category by pairing a tech-savvy, design oriented product with the Power of Starwood’s sales and marketing platform. The brand

caters to the next generation of travelers who crave modern style and a vibrant social scene. Launched

in 2008, Aloft continues to steal market and will have more than 100 hotels by the end of 2015.

PROGRAMMING: DIFFERENT. BY DESIGN. Authentic design, social scenes amplified by a passion for always being at the forefront of what’s relevant

today sets Aloft apart. Passion points of design, music and technology help direct the brand’s look and

programming for our audience of tech-savvy and confident social consumers.

Clean, contemporary architecture houses open spaces that are alive with activity. The lobby offers a

vibrant social scene anchored by the W XYZ bar, a free-flowing Re:mix lounge with a pool table, and a

grab and go Re:fuel café, while loft-like guest rooms feature high ceilings and the latest technology that

set Aloft apart from its competitors. These spaces can be further activated through localized

programming to attract locals to drive incremental residents. Throughout the hotel, every touch point has

been designed with today’s traveler in mind.

Welcome DeskCheck in or out, guests are greeted at Aloft’s signature and open round welcome desk which puts talent

at the center of the action, conveying a sense of accessibility to guests

W XYZ® BarImagine after a hard day of meetings or a busy day touring the Washington D.C. Mall, the fun flows freely

at the W XYZ bar with signature cocktails, delicious food offerings and live music. Live at Aloft Hotels

events featuring up-and-coming musicians making this hot spot the place to be, generating revenue and

attracting both guests and locals alike.

Re:mix Lounge A playful place or quiet space, the Re:mix lounge has everything right within reach, with plenty of seating,

fast + free WiFi and music to switch up the vibe. Ticker tape messaging and our four-panel video wall add

an extra twist.

Backyard Warm rays, fresh air and lounge tunes keep the vibe going outside, with stylish seating, mood lighting,

and an indoor/outdoor fireplace. The space is perfect for guests who want to relax and take in theWashington D.C. landscape as well as an ideal place for hotel events and programming.

Re:fuel by AloftGuests on the go energize 24/7 with grab ’n go gourmet light meals, mix-and-match snacks and regional

treats from dim sum in China to make-your-own cappuccinos in the U.S.



28


Aloft GuestroomsRooms feature high ceilings, plush platform beds, fast + free WiFi, oversized LCD TVs, custom amenities

by Bliss Spa, rainfall showerheads, our signature coffee and more.

Re:charge Gym and Splash PoolSprint, stretch, lift and pump – Guests can use stationary bikes, treadmills and elliptical machines, or take

a dip and relax in style at our pool, open morning to night.

Tactic MeetingsGreat ideas are sparked in our sleek meeting space, equipped with state-of-the-art A/V, plasma TV and

fast + free WiFi.

Work or play, Aloft’s cutting-edge technology and programming is designed to accommodate today’s

trends and the lifestyle of tomorrow’s traveler. It’s all about simplicity and ease of execution. We

recognize that technology has changed how people conduct business and manage their personal lives as

well as how they travel. Aloft was the first hotel brand to introduce Smart Check-In, which enables SPG

members to bypass the welcome desk, go straight to their room, and open their doors using their mobile

device through the SPG App. Additionally, once inside the guest room, guests can plug in their devices

to listen to their favorite music or watch their favorite TV shows or movies. By integrating best in class,

state of the art technologies, we make it easy for our guests to both personalize and control their

experience.

There is so much more to the Aloft experience than a good night’s rest. Unique programming leverages

the hotel’s unique design and brand passion points to connect with guests year-round to drive awareness

and bookings. Additionally, Aloft is the go-to spot for locals given W XYZ and music focus to help drive

additional revenue.

Live at Aloft EventsMusic is part of Aloft’s DNA. It is leveraged throughout the hotel and offers hotels and platform for

marketing promotions to attract both visitors and guests. Live at Aloft events feature live performances

from emerging artists and DJs. In 2013, xx Live at Aloft events were held. Aloft Washington D.C. would

be an ideal venue to host a Live at Aloft event featuring emerging musicians which garner widespread PR

exposure and further position Aloft as the place to be in D.C.

Social ConnectionKeeping in touch with guests even when they are not staying with us ensure Aloft is always top of mind.

That is why Aloft is very active on social media sites like Facebook, Twitter and Instagram to ensure we

stay top of mind and keep them in the loop on the latest happenings for the brand.



29


GLOBAL GROWTH: DESTINATION SENSATION Aloft launched in 2008 to acclaim from the industry and by the end of 2015 will have over 100 hotels

worldwide. Despite the economic downturn, the brand has experienced quality growth as a direct result

of its dynamic programming, strong performance and development friendly approach. Ideal for citycenters like the Washington D.C. market, the brand offers a flexible and appealing development option

based on specific market needs. With increasing global momentum, the pipeline has never been stronger

with 77 additional hotels scheduled to open through 2019.

The Aloft design offers a friendly and flexible development approach designed to meet a variety of

locations and markets with an easy to use, fully sourced FF&E package. Flexible food and beverage

options are available based on specific market needs, with requirements limited to breakfast, a pantry and

the W XYZ bar. With a focus on ensuring a great guest experience, the open design and smart layout

utilizes an efficient staffing model.

PERFORMANCE Soaring guest satisfaction scores and increasing third-party recognition has helped Aloft grow its market

share at a record pace. Aloft performance in North America urban markets is especially strong and

continues to rise with a 102% RPI and a SPG contribution of 53% (YE 2014).

ALOFT NEW ORLEANS DOWNTOWN



30


Operational Expertise

Operational Expertise



31


STARWOOD OPERATIONS EXPERIENCE

Starwood’s brands provide our guests value and experience beyond expectation which drives unmatched

loyalty and premiums for our owners. By working with Starwood management, our partners benefit from

a deep bench strength of talent with regional expertise, better integration with Starwood systems and

resources, and cost efficiencies to ensure both a great guest experience and overall hotel profitability.

Each hotel has its dedicated management team which is supported through a regional team that guides

brand standards, operating best practices, revenue management guidelines and sales and marketing

functions, as directed from the regional leader and Senior Leadership Team. All of these teams are

experienced and aligned to help create the most iconic and effective hotel possible in Aspen. These

teams cultivate innovative talent who are personally engaged from a lifestyle standpoint to the intimate,

bespoke and inviting environment of the brand. We respect collaboration through expansive, diverse

perspectives from all team members.

West Region Operations Team

Ms. Carla Murray is responsible for managing over 100 properties in Alaska, Washington, Oregon,

California, Arizona, Colorado, New Mexico, Utah, Nevada and Texas across all Starwood brands. Carla

was promoted into this position following a series of General Manager positions she held at The St. Regis

Aspen, The Westin Seattle, and the Sheraton Seattle Hotel & Towers, from the years of 1998 – 2002.

Additionally, Starwood has a long-history in the luxury lifestyle space. Leveraging the Starwood system,

our teams work collaboratively to cross-sell to deliver on client needs. In 2014, North America hotels

referred over 68,000 room nights to North America luxury hotels for over $25.5 million in net consumed

revenue, demonstrating the synergies that the Starwood portfolio will provide for this hotel.



32


CASE STUDY: STARWOOD HOTELS IN SAN FRANCISCO

Starwood’s hotels in San Francisco outperform its competitive set as seen in the case study below.

YTD NOVEMBER 2015 YEAR END2014

RevPAR $243.90 $229.70

RevPAR Index 104.4% 103.9%

CMD% 71.9% 72.2%

MARS + CCC 11.4% 13.4%

External Web 13.8% 13.2%

Internal Web 24.4% 23.9%

GDS 22.3% 21.7%

Hotels Included:

Aloft San Francisco Airport

Four Points By Sheraton Hotel & Suites San Francisco Airport

Four Points By Sheraton San Francisco Bay Bridge

Le Méridien San Francisco

Sheraton Fisherman's Wharf Hotel

The St. Regis San Francisco

The Westin San Francisco Airport

The Westin San Francisco Market Street

The Westin St. Francis San Francisco On Union Square

W San Francisco

Source: YTD November 2015 - Smith Travel Research & Starwood Internal Data of San Francisco hotels open for

24+ months, excluding The Palace due to renovations in 2015



33Response to Request for Proposal - PACIFICA

References




REFERENCES

Company Name: Chesapeake Lodging TrustHotel Project: Royal Palm South Beach Miami, A Tribute Portfolio ResortIndividual Name: Rick Adams

Title: EVP & Chief Operating OfficerTelephone: (410) 972-4143Email: [email protected]

Company Name: Triyar Hospitality, LLCHotel Project: Aloft TempeIndividual Name: Michael MahoneyTitle: Chief Executive OfficerTelephone: (310) 234-2888Email: [email protected]

Company Name: Stockbridge Capital Group, LLC

Hotel Project: SLS Las Vegas Hotel & Casino, A Tribute Portfolio HotelIndividual Name: Dan WebsterTitle: Managing PartnerTelephone: (610)688-2996Email: [email protected]




PROGRAMMING



HOTEL: Tribute Pacifica REV: NoneDATE: 1/15/2016 BY: Gus Escobar

110 Bays

v. 4/16/15 100 Keys

RECAP OF HOTEL AREA PROGRAM

SUMMARY

NET AREA

(SF)

GROSS AREA

(SF)

GROSS

SF/KEY PERCENT COMMENTS

Guestrooms 39,910 58,700 587.0 68.5% 47% Gross factor

Public Areas 13,555 16,250 162.5 19.0% 20% Gross factor

Administration 1,970 2,360 23.6 2.8% 20% Gross factor

Back-of-House 5,110 5,870 58.7 6.8% 15% Gross factor

Mechanical / Electrical Equipment 2,570 25.7 3.0% 3% Allowance (of total gross area)

Total, Summary Program 85,750 857.5 100.0%

PUBLIC AREAS (detail)

Lobby 1,740 2,080 20.8 2.4%

Food & Beverage 2,185 2,620 26.2 3.1%

Function Space 6,800 8,160 81.6 9.5%

Recreation (excluding spa) 730 870 8.7 1.0%

Spa 2,100 2,520 25.2 2.9%

Total, Public Areas 13,555 16,250 162.5 19.0%

BACK-OF-HOUSE (detail)Food Production Areas 1,470 1,690 16.9 2.0%

Receiving and Storage 1,200 1,380 13.8 1.6%

Employee Areas 950 1,090 10.9 1.3%

Laundry and Housekeeping 1,010 1,160 11.6 1.4%

Maintenance Office and Shops 480 550 5.5 0.6%

Total, Back-of-House 5,110 5,870 58.7 6.8%

RECAP OF HOTEL FACILITIES

GUESTROOM MIX QTY. KEYS BAYS % KEYS

King 60 60 60 60%

Double/Double 0 0 0 0%

Queen/Queen 30 30 30 30%

Suites 9 10 20 10%

Club Lounge 0 0 0 0%

Total, Guestrooms 100 110 100.0%

PUBLIC AREAS NET AREA SEATS SEATS/KEY

Food Outlets 1,680 75 0.75

Beverage Outlets 505 20 0.20

Grand Ballroom 0 0 0.00

Total Other Function Rooms 4,600 320 3.20

Total Interior Function Space 4,600 320 3.20

Swimming Pool 0

Fitness 730

Spa 2,100

SUMMARY OF SPACE ALLOCATION PROGRAM

SPACE ALLOCATION PROGRAM

Note: parking is not addressed in this

program, but must be provided in

accordance with market conditions.



1.1 GUESTROOM MIX

QTY. KEYS BAYS NET AREA COMMENTS

King 60 60 60 21,060 1 Bay

Double/Double 0 0 0 0 1 Bay

Queen/Queen 30 30 30 11,310 1 Bay

Executive Suite 7 7 14 5,278 2 Bays: 1-LR, 1-K (1 Key)

Deluxe Suite 1 2 3 1,131 3 Bays: 1-LR, 2-K (2 Keys)

Hospitality Suite 1 1 3 1,131 3 Bays: 2-LR, 1-K (1 Key)

Presidential Suite 0 0 0 0 5 Bays: 3-LR, 2-K (1 Key)

Club Lounge 0 0 0 0 Bays: Optional

Total, Guestrooms and Suites 100 110 39,910

Total Standard Bays 90

Total Suite and Lounge Bays 20

Total Interconnecting room pairs 14 15%

1.2 GUESTROOM MODULE

WIDTH LENGTH NET AREA 5' (min) deep, full room width, balcony at resorts

Type 1 (K) 13.00 27.00 351

Type 2 (D/D) 13.00 29.00 377Type 3 (Q/Q) 13.00 29.00 377

Suite module 13.00 29.00 377

1.3 GUESTROOM BLOCK ASSUMPTIONS

QTY.

Number of Guestroom Floors 5

Number of Guestroom Bays / Floor 22

Corridor Width (feet) 5

Guest Room ceiling heights 8' bedroom & 7'6" foyer/bath

Number of Public Elevators 1

Number of Service Elevators 1

GUESTROOMS AND SUITES



2.1 LOBBY AND PUBLIC AREAS

LOBBY NET AREA COMMENTS

Main Lobby 1,000

Registration 160

LOBBY RETAIL AND SUPPORTSundry/gift Shop 0 optional - suggested at resorts

Lobby Retail (may be leased space) 0

Concierge 120

Valet Office 80

Room Service Storage 0

Public Restrooms 300

Fire Command 80

Total, Lobby and Public Areas 1,740

3.1 FOOD AND BEVERAGE OUTLETS

FOOD OUTLETS NET AREA SEATS COMMENTS

3-Meal Restaurant 1,350 75 18

3-Meal Restaurant - Related Areas 330 Incl. bar, coat, hosting

Specialty Restaurant 0 0 20

BEVERAGE OUTLETS

Lobby Bar 330 15 22

Entertainment Lounge 0 0 20

Coffee Express 175 5 15 SF/seat (includes area for service)

Pool Bar 0 0 12

Total, F&B Outlets 2,185 95

4.1 FUNCTION SPACE

FUNCTION ROOMS QTY. SF EACH NET AREA SEATS COMMENTS

Meeting Room "A" 2 1,500 3,000 210 14

Meeting Room "B" 1 1,000 1,000 70 14

Meeting Room "C" 1 600 600 40 14

Total Interior Function Rooms 4,600 320

EXTERIOR FUNCTION SPACE

Terrace event space 0 0 0 0 20

FUNCTION SUPPORT

Banquet/Meeting Prefunction 1,200


Coatroom 80 market specific per climate

Meeting Planner 100

Ballroom Projection 0

Function Room Storage 460

A/V Equipment Room & Office Space 110Banquet Beverage Storage 0

Meeting Concierge 0

Banquet Manager 0

Total, Function Support 2,200

Total, Function Space 6,800

PUBLIC AREAS



5.1 RECREATION

SWIMMING POOL AND FITNESS CENTER NET AREA EXTERIOR COMMENTS

Swimming Pool / Whirlpool 0 0 includes deck area

Pool Equipment / Storage 0

Couple Cabanas 0

Family Cabanas 0

Towel/Watersport Amenity 0

Fitness 700

Children's Club 0Restrooms 30

Total, Pool and Fitness 730

SPA (Developer/ Market Option)

Arrival (w/ Retail) 240

Administration 230

Bistro Café/Juice Bar 25

Men's Locker Room 230

Women's Locker Room 300

Therapy/Treatment Rooms 4 560

Co-ed Relaxation Lounge 200

Mens Relaxation Lounge 0

Womens Relaxation Lounge 0

Salon/Mani-Pedi 50Support 265

Total, Spa 2,100

Total, Recreation 2,830



6 ADMINISTRATION

FRONT OFFICE NET AREA COMMENTS

Front Office Workarea 120

Front Office Manager 80

Asst. Front Office Manager 0

Director of Operations 0Room Service 140 fire alarm & elevator panels

Room Service Manager 0

Room Service Storage 0

Safe Deposit Boxes / Viewing 50

General Cashier / Count Room 0

Data Center 30

Luggage Storage 40

Total, Front Office 460

ACCOUNTING OFFICE

Controller 120

Ass't. Controller 0

Accounting Workarea 240

Storage / Pantry 0MIS Manager 0

Total, Accounting Office 360

EXECUTIVE, SALES AND CATERING OFFICES

Reception 200

General Manager 130

Secretary 0

F&B Director 0

F&B, Director of Outlets 80

Revenue Management, Director 0

Reservations 110

Sales and Marketing, Director 100

Group Sales, Director 0

Catering and Conv. Services, Director 0

Sales Managers 0

Catering Managers 0

Sales and Catering Workarea 320

Convention Services Manager 0

Administrative Support 90

Conference 0

Storage / Pantry 120

Total, Exec., Sales and Catering Offices 1,150 `

Total, Administration 1,970

ADMINISTRATION



BACK-OF-HOUSE AREAS

7 FOOD PRODUCTION AREAS

KITCHENS AND PANTRIES NET AREA COMMENTS

Main Kitchen 700

Room Service Pantry 240 0 s.f. if lessee provides room service

3-Meal Restaurant Kitchen (leased) 0 Storage/support included

Banquet Pantry 200Specialty Restaurant Pantry 0

Entertainment Lounge Pantry 0

Pool Bar Pantry 0

Total, Kitchens and Pantries 1,140

KITCHEN STORAGE AND SUPPORT

F&B Storage, Dry 50

F&B Storage, Refrigerated 100

F&B Storage, Beverage 100

F&B Storage, Paper / Other 0

Chef Office 80

Total, Kitchen Storage and Support 330

Total, Food Production Areas 1,470

8 RECEIVING AND STORAGE

RECEIVING NET AREA COMMENTS

Loading Dock (outside) 200 not included in subtotal

Receiving Area (inside) 250

Purchasing and Receiving Office 80

Locked Storage 0

Recycling Area / Baler 120

Can Wash 100

Compactor (outside) 200

Total, Receiving Area 950

STORAGE

Bulk Storage 100

China, Glass, Silver 50

Accounting Records (long-term) 0

Landscape Storage 100

Total, Storage 250

Total, Receiving and Storage 1,200

9 EMPLOYEE AREAS

HUMAN RESOURCES OFFICE NET AREA COMMENTS

Reception 0

Human Resources Director 100

Human Resources Asst. Director 0

Human Resources Workarea 150

Training Room 150

Storage / Pantry 0

Total, Human Resources Office 400

EMPLOYEE SUPPORT

Security / Risk Manager 0

Lockers and Restrooms, Men 150

Lockers and Restrooms, Women 150

Employee Cafeteria 250

Total, Employee Support 550

Total, Employee Areas 950



10 LAUNDRY AND HOUSEKEEPING

LAUNDRY (Developer/ Market Option) NET AREA COMMENTS

Laundry 100

Soiled Linen Room 100

Laundry Manager 0

Laundry Storage 0

Valet / Dry Cleaning 120

Total, Laundry 320

HOUSEKEEPING

Housekeeping, Director 80

Housekeeping Workarea 150

Clean Linen Storage 150

Uniform Issue 220

Amenities Storage 50

Lost & Found 40

Housemen / Night Cleaners 0

Total, Housekeeping 690

Total, Laundry and Housekeeping 1,010

11 MAINTENANCE OFFICE AND SHOPS NET AREA COMMENTS

Engineering, Director 80

Work Control Center 0

Maintenance Workarea 300

Carpentry Shop 0

Plumbing / Electrical Shop 0

Parts Storage 100

Total, Maintenance Office and Shops 480

12 MECHANICAL/ELECTRICAL EQUIPMENT GROSS AREA COMMENTS

Total Gross Allowance, MEP Equipment Rooms 2,570 3% of total gross hotel area

[ END OF PROGRAM ]



ALOFT V3.0FACILITY PROGRAM

09/30/2015

Copyright ©2015 Starwood Hotels & Resorts Worldwide, Inc. All Rights Reserved.

CONFIDENTIAL & PROPRIETARY – May not be reproduced, disclosed or distributed without the

express written permission of Starwood Hotels & Resorts Worldwide, Inc.



HOTEL: REV:

DATE: 9/30/2015 BY: 0

136 Bays

136 Keys

v. 9/30/15

1 RECAP OF AREA PROGRAM

SUMMARYNET AREA

(SF)

GROSS AREA

(SF)

GROSS

SF/KEY PERCENT COMMENTS

Guestrooms 40,181 56,700 416.9 83.7% 41% Gross factor

Public Areas 6,590 7,890 58.0 11.6% 20% Gross factor

Administration 503 600 4.4 0.9% 20% Gross factor

Back-of-House 1,680 1,910 14.0 2.8% 15% Gross factor

Mechanical / Electrical Equipment 671 4.9 1.0% 1% Allowance (of total gross area)

Total, Summary Program 67,770 498.3 100.0%

PUBLIC AREAS (detail )

Lobby 2,170 2,600 19.1 3.8%

Food & Beverage 1,250 1,500 11.0 2.2%

Function Space 580 690 5.1 1.0%

Recreation (excluding spa) 2,590 3,100 22.8 4.6%

Spa 0 0 0.0 0.0%

Total, Public Areas 6,590 7,890 58.0 11.6%

Outdoor Public Space

Backyard 1,640 1,960 14.4

BACK-OF-HOUSE (detai l)

Food Production Areas 370 420 3.1 0.6%

Receiving and Storage 0 0 0.0 0.0%

Employee Areas 290 330 2.4 0.5%

Laundry and Housekeeping 865 990 7.3 1.5%

Maintenance Office and Shops 155 170 1.3 0.3%

Total, Back-of-House 1,680 1,910 14.0 2.8%

2 RECAP OF FACILITIES

GUESTROOM MIX QTY. KEYS BAYS % KEYS

Studio Queen/Queen 48 48 48 35.3% 18'-6" Headboard wall

Standard King 87 87 87 64.0% 14'-6" Headboard wallExtended Q/Q 1 1 1 0.7% 19'-6" Headboard wall

Total, Guestrooms 136 136 100.0%

PUBLIC AREAS (Lobby & Exterior) NET AREA SEATS SEATS/KEY

Food Outlets (Refuel) 300 6 0.04

Beverage Outlets (w xyz) 950 24 0.18

Grand Ballroom 0 0 0.00

Total Function Rooms (Tactic) 530 20 0.15

Swimming Pool 1,730

Fitness Center #REF!

Spa 0

Backyard 1,640

SUMMARY OF SPACE ALLOCATION PROGRAM

aloft

HOTELS

SPACE ALLOCATION PROGRAM

Starwood Hotels Resorts Worldwide, Inc. Proprietary and Confidential Page: 1 of 4



GUESTROOMS AND SUITES

1.1 GUESTROOM MIX

QTY. KEYS BAYS NET AREA COMMENTS

Studio Queen/Queen 48 48 48 15,552 1 Bay

Standard King 87 87 87 24,186 1 Bay

Extended Q/Q 1 1 1 443 1 Bay: 1-LR, 1-Q/Q (1 Key)

Total, Guestrooms and Suites 136 136 40,181

Total Standard Bays 135

Total Suite and Lounge Bays 1

1.2 GUESTROOM MODULE

WIDTH LENGTH NET AREA

Type 2 (Studio Q/Q) 17.50 18.50 324

Type 4 (Standard King) 15.00 18.50 278

Type 5 (Extended Q/Q) 30.00 14.00 443

1.3 GUESTROOM BLOCK ASSUMPTIONS

QTY.

Number of Guestroom Floors 4

Number of Guestroom Bays / Floor 34

Corridor Width (feet) 5

Number of Public Elevators 2

Number of Service Elevators 0

2.1 LOBBY AND PUBLIC AREAS

LOBBY NET AREA COMMENTS

Entry Vestibule 80Front Desk Lobby Area 400

Front Desk 30

Remix 830

Guest Laundry (Clean) 100 on top guest floor

Business Alcove (In-Touch) 20


Elevators Lobby Area 250

Fire Command - At Front Desk

Total, Lobby and Public Areas 2,170

2.2 EXTERIOR PUBLIC AREAS

NET AREA

Backyard 1,640

Total Exterior Public Areas 1,640

3.1 FOOD AND BEVERAGE OUTLETS

FOOD OUTLETS NET AREA SEATS COMMENTS

Refuel 300 6

Restaurant - 3rd party 0 0 20

BEVERAGE OUTLETS

w xyz 950 24 40

Total, F&B Outlets 1,250 30

PUBLIC AREAS




4.1 FUNCTION SPACE

FUNCTION ROOMS QTY. SF EACH NET AREA SEATS COMMENTS

Grand Ballroom 0 10,000 0 0 11 SF/se3 divisions

Jr. Ballroom 0 5,000 0 0 11 2 divisions

Banquet Room "A" 0 3,000 0 0 12

Banquet Room "B" 0 2,500 0 0 12

Banquet Room "C" 0 2,000 0 0 12

Meeting Room "A" 0 1,500 0 0 25

Meeting Room "B" 0 1,250 0 0 14

Meeting Room "C" 0 1,000 0 0 14

Tactic Board Room "A" 1 530 530 20 25

Board Room "B" 0 400 0 0 25

Multipurpose 0 0 0 0 20

Exhibit Hall

Total, Function Rooms 530 20

FUNCTION SUPPORT

Function Storage 50

Ballroom Prefunction Area 0

Jr. Ballroom Prefunction 0

Banquet/Meeting/Bd Rm Prefunction 0

Public Restrooms 0Coatroom 0 per market climate

Meeting Planner 0

Ballroom Projection 0

A/V Equipment Room & Office Space 0

Star Meeting Concierge 0

Banquet Beverage Storage 0

Banquet Manager 0

Total, Function Support 50

Total, Function Space 580

5.1 RECREATION

SWIMMING POOL AND FITNESS CENTER NET AREA COMMENTS

Swimming Pool (Splash) 1,600

Pool Equipment / Storage 130

Fitness Center (ReCharge) 800

Restroom 60

Total, Pool and Fitness 2,590

Total, Recreation 2,590

6 ADMINISTRATION

FRONT OFFICE NET AREA COMMENTS

Front Office Workarea 210General Manager 90

Data Center 140

Luggage Storage & Safety Deposit Boxes 63 adjacent front desk

Total, Front Office 503

ADMINISTRATION




BACK-OF-HOUSE AREAS

7 FOOD PRODUCTION AREAS

KITCHENS AND PANTRIES NET AREA COMMENTS

w xyz Storage 130

Refuel Prep Area (cold) 230

Refuel Storage (dry) 140

3-Meal Restaurant Kitchen (leased) 0 Only occurs w/ leased restaurantBanquet Pantry 0 if restaurant kitchen cannot provide

Total, Kitchens and Pantries 370

Total, Food Production Areas 370

8 RECEIVING AND STORAGE

RECEIVING NET AREA COMMENTS

Loading Receiving Area (outside) 0 not included in subtotal

Compactor (outside) 0

Total, Receiving Area 0

Total, Receiving 0

9 EMPLOYEE AREAS

EMPLOYEE SUPPORT

Security / Risk Manager 0

Restrooms, Unisex 40

Employee Locker Rooms 0

Employee Cafeteria (Break Room) 250

Total, Employee Support 290

Total, Employee Areas 290

10 LAUNDRY AND HOUSEKEEPING

LAUNDRY NET AREA COMMENTS

Laundry 440 includes Housekeeping storage

Soiled Linen Room 0

Laundry Manager 0

Laundry Storage 0

Total, Laundry 440

HOUSEKEEPING

Clean Linen Storage 425

Total, Housekeeping 425

Total, Laundry and Housekeeping 865

11 MAINTENANCE OFFICE AND SHOPS NET AREA COMMENTS

Engineering, Director/Shop(s) 155 Work station in Mechanical Room

Total, Maintenance Office and Shops 155

12 MECHANICAL/ELECTRICAL EQUIPMENT GROSS AREA COMMENTS

Total Gross All owance, MEP Equipment Rooms 671 1% of total gross hotel area




Manual Disclaimer

This manual and all materials, procedures and systems herein contained or depicted (the “Manual”)

have been developed by, and are the sole and exclusive property of Starwood Hotels & ResortsWorldwide, Inc. (“Starwood”), One StarPoint, Stamford, Connecticut 06902.

The content herein may be protected by patent, trademark, trade secret, copyright, or otherproprietary rights and laws, and is the private and confidential property of Starwood. The contentscontain proprietary trade secrets that are private and confidential property of Starwood. Unauthorizeduse, disclosure, or reproduction of any kind of any material contained in this Manual is expresslyprohibited. The contents hereof are to be returned immediately upon termination of any relationshipor agreement giving user authorization to possess or use such information or materials. Anyunauthorized or illegal use shall subject the user to all remedies, both legal and equitable, available toStarwood.

These documents are intended to serve as a starting point for complete design to be performed bylicensed professionals. They have been prepared with the sole purpose of conveying the brandbenchmark for this particular product only. The architect, engineer, designer or any other designprofessional of record is responsible for compliance with any and all laws or regulations of any type ordescription governing the proposed construction.This manual may be altered, amended or supplemented by Starwood in its sole discretion from timeto time. It is your responsibility to familiarize yourself with the contents of the Manual and to keepyourself apprised of any and all updates to it on www.regdocumentcenter.com.

In the event of any inconsistency or conflict between a provision in this Manual and any federal,provincial, state or local statute, regulation, order or other law, such law will supersede the conflicting

or inconsistent provision(s) of this Manual in all properties subject to that law. All owners/developersshould seek independent legal counsel for advice concerning application of and compliance with anyapplicable law.

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RESPONSE TO REQUEST FOR PROPOSAL



W W W . H A N D E L A R C H I T E C T S . C O M



Viola Hotel & Residences, Boston, MA

OWNER · Peebles Corporation

DESIGN ARCHITECT · Handel Architects

ARCHITECT OF RECORD · Handel Architects

INTERIOR DESIGNER · Handel Architects

SIZE · 400,000 sq.ft.STATUS · Design Development

DESCRIPTION

Viola is a brand new mix-use project located at the corner of Mass

Ave and Boylston Street in Boston. Won through a design competi-

tion in 2014, the undulating form contains hotel, residential, and re-

tail space, while creating a open plaza along the street. The project

is clad in a glazing and terra-cotta system that has been conceived

to accentuate the undulating form of the building and recall the

texture, tones, and colors of the architectural context, including 360

Newbury Street, the Boston Architectural College, and the fire sta-

tion (Ladder Co. 15 and Engine Co. 33).



Dream Downtown Hotel, New York, NY

OWNER · Hampshire Hotel & Resorts LLC & Vikram Chatwal Hotels




SIZE · 184,700 sq.ft.

STATUS · Completed in 2011

DESCRIPTION

Dream Downtown Hotel is a 184,000 sq. ft. boutique hotel in the

Chelsea neighborhood of New York City. The 12-story building

includes 316 guestrooms, two restaurants, rooftop and VIP loung-

es, outdoor pool and pool bar, a gym, event space, and ground

floor retail.

Originally designed for the Maritime Union in 1966, the building

was converted into a hotel, which created design opportunities

as well as constraints. The original façade was punched with port-

hole windows to express the maritime program, and these werekept and expanded upon. The portholes became central to the

design and the surreal quality they create. The original through

block building offered limited possibilities for natural light, so

four floors were removed from the center of the building, which

created a new pool terrace and beach, new windows and balco-

nies for guestrooms, along with two new floors of guestrooms

on the southern portion of the building. To the north, a glass

enclosed roof-top lounge and terrace was created. The glass bot

tom pool, dotted with portholes of its own, allows guests in the

lobby glimpses through the water to the outside (and vice versa)

and connects the spaces in an ethereal way. Light wells framed in

teak between the lobby, pool and lower levels allow the guest to

be transported between spaces. Two hundred hand blown glass

globes float through the lobby and congregate over The Marble

Lane restaurant filling the space with a light cloud.



950 Market Street, San Francisco, CA

OWNER · Group I




SIZE · 400,000 sq.ft.

STATUS · Design Development

DESCRIPTION

950 Market Street is a new mixed-use development occupying the

majority of a triangular block where San Francisco’s Union Square,

Tenderloin and South of Market districts meet. The 34,000 sq. ft. site

is shared with the historic Warfield Theater, and the development

includes 250 residence and 232 hotel keys above ground floor retail

in a 12-story building.

The scale and aesthetic of the project is designed to relate to the

context of adjacent buildings in the Tenderloin and along Market

Street. The building massing optimizes the potential of the site whilealso carving out generous outdoor plazas for the public realm on

both Turk and Market Streets. Glass fiber reinforced concrete clad-

ding takes cues from the masonry buildings of the surrounding area

while the patterning and textured character of the façade offers a

contemporary interpretation of traditional punched windows in the

neighborhood. Designed to read as a continuous wrapper around

the building, the façade also employs variation and modulation in

window openings and panel sizes to correspond to interior units fo

the hotel and residential spaces within.



1101 Ocean, Asbury Park, NJ

OWNER · iStar




SIZE · 500,000 sq.ft.

STATUS · Construction Documents

DESCRIPTION

Located in the oceanside town of Asbury Park, 1101 Ocean is a new

mixed-use project with 128 residences, 58 hotel rooms, and 22,000

sq. ft. of ground level retail. Designed by Handel Architects, the

building design is an homage to the beach house vernacular – sim-

ple materials, open, light and airy. The podium’s floor edges extend

beyond the wall cladding, accentuating the horizontal. The upper

tower continues the horizontal expression with wrap-around balco-

nies with glass railings and a window wall system.



Rosewood Hotel & Residences, Abu Dhabi, UAE

OWNER · Mubadala Real Estate & Hospitality



INTERIOR DESIGNER · Brennan Beer Gorman Monk Interiors

SIZE · 1.1M sq.ft.


DESCRIPTION

Located in Abu Dhabi’s new Al Maryah Island financial district be-

tween the Abu Dhabi Securities Exchange and the Cleveland Clinic,

Rosewood Abu Dhabi is a new 1.1M sq.ft. mixed-use development.

The complex includes a five-star 189-room Rosewood hotel, 131 ser-

viced apartments, banquet facilities, meeting facilities, spa, fitness

center, retail space, restaurants, and parking.

The inspiration for the tower is derived from the glistening Arabian

Gulf and the vast desert that surrounds Abu Dhabi city. The 34-story

hotel is a dramatic modern structure covered with reflective glass,which was chosen for its daytime shimmer and its nighttime lumi-

nescence. The curvilinear architecture of the 470-foot-tall building

is designed to suggest the movement in this vibrant city and the

inspiration for the interiors of the hotel comes from the meeting of

land and sea, desert and sky.

Inside, the lobby is bordered on one side with a flowing water fea-

ture and on the other with a dramatic wall of art to draw guests into

the space with warm tones, clean lines and sleek materials. This is

juxtaposed with comfortable furnishings and flowing fabrics in warm

colors reminiscent of a local souk. Throughout the hotel, traditiona

Middle Eastern textiles and details are mixed with modern lines andforms.



Nove Residences, San Francisco, CA

OWNER · Linea Built, Inc.




SIZE · 20,000 sq.ft.


DESCRIPTION

Nove is a luxury nine-unit residential development located in San

Francisco’s Mission District. It is contemporary in style but harmo-

nizes with this neighborhood of mostly three-story Victorian-era

structures. The units range in size from 1,200 sq. ft. to 1,600 sq. ft.

There are three units on each site; two front Guerrero Street and the

third fronts Ames Street. The Guerrero units have shared parking

on the ground level, a two-bedroom unit on the second level, and

a three-bedroom duplex on the third and fourth levels. The Ames

units are similar to two-bedroom urban townhouses, each with indi-vidual parking.

Nove is LEED-platinum certified, employing sustainable elements

such as solar thermal hot water, in-floor solar assisted radiant floor-

ing, double glazed thermally broken windows and doors, energy

star appliances, low-flow faucets and toilets, low water / drought tol

erant landscaping, and maximum use of locally sourced sustainable

materials.



72 Ellis Street Hotel, San Francisco, CA

OWNER · Highgate Hotels



INTERIOR DESIGNER · indidesign



DESCRIPTION

72 Ellis is a 156-key, 11-story hotel project located in the heart of

Union Square of San Francisco. The site is mid-block infill plot which

is currently a surface parking lot flaked by a historical structure and

a mid-70’s parking garage. The area is known for its high traffic retail

and convention hotel accommodations. Architecturally the area has

numerous structures post 1906 earthquake which highly articulated

and well kept. The design for 72 Ellis is primarily to create a façade

that would accentuate the scale and proportions of the nearby his-

torical fabric and maintain a contemporary feel. The façade is de-signed with as a three bay composition with has a strong vertical

masonry expression emulating the fabric of neighboring structures

The top of the building which is enhanced with a roof garden terrace

is express by the vertical frames extended upward to create exterio

rooms. At the ground floor the vertical frames are raise above the

two story retail façade creating an openness and enhancing the pe-

destrian along the street.



450 Hayes Residences, San Francisco, CA

OWNER · DM Development





STATUS · Under construction, est. completion October 2016

DESCRIPTION

450 Hayes was contemplated by the San Francisco’s Market-Octa-

via Plan to help heal the scar to the neighborhood resulting from

the construction, and subsequent demolition, of the Central Free-

way. The project is comprised of 41 residential units, 20 car parking

spaces and includes storage for 42 bicycles. The site is an irregular,

almost trapezoidal lot, that faces both Hayes and Ivy Streets. The

proposal is to construct two structures, up to 45-feet tall, which will

be built to the property lines along Hayes and Ivy. Consistent with

the neighboring buildings, the commercial space is broken up intotwo storefronts and will be constructed on the ground floor along

Hayes Street. An internal courtyard running the east-west width of

the project provides outdoor space and light and air to many of the

residential units. The internal courtyard also provides an outdoor link

to the two buildings through an exterior stair and a series of bridges.

In addition to the residential lobby facing Hayes Street, a secondary

residential entry will be located on Ivy Street.



240 Pacific Avenue Residences, San Francisco, CA

OWNER · Grosvenor






DESCRIPTION

240 Pacific Avenue is a new 32-unit residential development in the

Jackson Square area of San Francisco. The building takes design

cues from the historical warehouses in the area, offering a modern

interpretation of the brick low-rise structures that still adorn the

neighborhood.

The site wraps the north and east sides of the Old Ship Saloon, a

designated historical site at the intersection of Battery and Pacific,

and the massing of the new building has been articulated to address

this adjacency, as well as that of 733 Front Street, east of the site. 240Pacific is carved to include multiple open space opportunities, and

the individual volumes vary in height, keeping in context with the

urban fabric.

Exterior materials are a balance between the historical fabric and the

more recently renovated structures in the district. Jackson Square is

one of San Francisco’s oldest neighborhoods and over the past sev

eral decades many structures have gone through some type of ren

ovation or adaptive reuse. 240 Pacific builds on the idea of masonry

as the main framework of the structure with metal and glass as an

interlacing fabric that melds the project together. The masonry fa

cade includes the vertically punched openings that can be found on

neighboring historical buildings, while the more delicate lattice metal frame curtainwall draws inspiration from the steel sash windows

of nearby warehouse buildings and recently renovated structures.



The Pacific, San Francisco, CA

OWNER · Trumark Urban




SIZE · 250,000 sq.ft.

STATUS · Under construction, est. completion August 2016

DESCRIPTION

The Pacific at 2155 Webster Street is a 250,000 sq. ft. adaptive re-

use project in the Pacific Heights neighborhood of San Francisco.

Formerly a dentistry school, the project is being converted from its

office use into a luxury residential development, including seven-

ty-seven condo units and ten individual townhomes.

Handel Architects’ design approach maintains the façade grid of the

original building, but lightens the structure by removing the existing

pre-cast panels to make way for larger scale windows. This thinner,

more delicate structure will be covered with a new champagne colorstainless steel cladding system, which reflects the sunlight in gold

and light brown hues. Puncturing the structure are floor-to-ceiling

glass windows, offering expansive views. Additionally, a three-di-

mensional window bay has been designed to create moments

where the occupants can gain views past the existing structure

These windows are dispersed throughout all four facades, with the

density increasing towards the edges and the top of the building

The penthouse, formerly a mechanical shed, will be converted to

four homes with private terraces, and a common lounge with com-

munal terrace for the building’s residents.

At the ground level, townhomes on the adjacent surface parking lot

have been designed to have a similar scale and form as single family

homes in the neighborhood. The three story homes have access toindividual private gardens and the amenities of the main building

Communal lawns and landscaping have been created in between

the townhomes as open space for the use of all the residents of the

development.



APPENDIX C: ATTACHMENTS A & B



1

ATTACHMENT A

Questions & Responses from RFQ Page 15



2

1. Would you consider phasing the hotel construction?

Response: We would not recommend phasing for the main hotel building, unless future hotel phasing involved a

“satellite” building(s). It is not uncommon for hotels to incorporate satellite rooms, cottage and meeting areas.

On a related note, phasing of satellite residential and retail uses in separate building could be readily phased.

Should phasing be contemplated, we would actively manage construction noise to reduce guest discomfort.

2. If a podium was chosen for all or part of the site, could it be engineered and built in phases, and is thatfinancially feasible compared to building it all at once?

Response: Below-grade work, including utility connections would ideally be achieved in phase 1 to avoid

increased future costs for excavation, shoring, tiebacks and underpinning. If phased, below-grade sections should

planned to be as large as possible for the given phase.

3. Where would you want the hotel to have street frontage?

Response: Per initial study we advocate the frontage be along Beach Boulevard to engage the ocean views.

4. Where would you want access and exiting for the hotel?

Response: Per initial review, vehicular access could be from either Palmetto Avenue or Montecito Avenue via a

narrow private lane. This lane could also provide access to future residential uses and provide a connection for

underground parking. (Both avenue’s offer opportunities and further study and program development will help

to locate.)

5. What is maximum and minimum number of hotel rooms that you would consider at this site?

Response: 100 to 150 guest rooms.

6. Do you recommend adding residential uses or another use to the site in addition to the hotel?

Response: Yes, we recommend adding residential uses to the site in addition to the hotel, complementing

residential hospitality functions and the uniqueness of this site. We believe there is significant demand for housing

in Pacifica because of its excellent access to Downtown San Francisco, SFO and Palo Alto/Silicon Valley. Today,

Pacifica offers “value” compared to San Francisco and other locations in Northern Californi a with world-class

natural beauty and setting.

7. Are conference facilities valuable to your vision, either on or off the site, and for what audience?

Response: Yes, the site would be a good semi-remote location for a small retreat or seminar/conference and the

semi-remote and unique character to the site for wedding, anniversary, milestone, etc. celebrations. As a drive-to-

destination, Pacifica could draw significant group business from the surrounding Bay Area large demand drivers

with sufficient meeting space.

8. Do you commit to supporting the existing Hotel Business Improvement District (BID) and a potential BID on

Palmetto Avenue?

Response: Yes, we commit to supporting the existing Hotel BID and potential Palmetto Avenue BID. TPC believes

that we can be a helpful advocate for programs that promote the Avenue’s long-term economic development

thereby creating a thriving boulevard that attracts both residents and visitors.



3

ATTACHMENT B

Comparable Hotel Development Experience

The Peebles Corporation



4

COMPARABLE HOTEL DEVELOPMENT EXPERIENCE #1

a. Developer / Operator Name:

The Peebles Corporation / Marriott Hotels

b. Project Name, Address and Web Site:

Courtyard Marriott Washington Convention Center

900 F St. NW, Washington, DC 20004

http://www.marriott.com/hotels/travel/wascn-courtyard-washington-convention-center/

c. Proposer Name on that Comparable Project (if different than above):

Same as above.

d. Proposer Role (i.e., managing partner, limited partner, consultant, etc.)

The Peebles Corporation – Developer

Donohoe Development Company – Co-Developer

Hospitality Partners – Hotel Management Partner

e. Current Project Status (predev, in construction, in operation)

In operation. This property has ranked in the top 10 best performing Courtyard Hotels worldwide for five

consecutive years.

f. Is Hotel Development a Development Contract with Government, on the Coast, in a Downtown or a

Commercial Business District?

Resolution Trust Corporation – Contracting Entity

Downtown / Commercial Business District

g. Total Hotel Building Area (sf), Hotel Site Area (sf).

135,000 GSF / 14,645 Land Area





5

h. Total Number of Guest Rooms

188 Keys

i. Range of Guest Rooms Size (sf)

350 - 600 sf

j. Total Area committed to Restaurants, Retail or Spa Services (sf by use. List name, operator, describe role in

creating a destination hotel)

10,500 SF – includes Gordon Biersch restaurant. The restaurant can accommodate 450 guests with additional

patio seating available. Private banquet facilities are also available for 50-60 guests in the upstairs dining room,

with a smaller private room on the main floor accommodating 30-35 persons. Full-restaurant banquets are also

available seating up to 400 persons. http://www.gordonbiersch.com/locations/washington-dc?action=view

k. Total Area committed to Hotel Dining Room if different than above (sf)

Same as above.

l. Total Area of Meeting or Banquet Facilities (sf by type)

700 sf

m. Green Building Features (if any)

None.

n. Construction Type (name material, i.e., wood, plaster, stucco, etc.)

Built in 1891 and listed on the National Historic Places. Extensive renovation included restoration of original

marble floors, the ornate gold-leaf ceiling and the lobby’s Corinthian. Building consists of brick, terra cotta,

exposed metal plaster and stone.

o. Construction Start Date (actual or estimated)

1993

p. Construction Completion Date (actual or estimated)

1997

q. Total Development Cost

$25 million

http://www.gordonbiersch.com/locations/washington-dc?action=view






6

r. Financing: Sources of Funds (Debt & equity)

Resolution Trust seller financing / BB&T – Debt

Peebles / Donohoe Development Company – Equity

s. Financing Contact Info (list entity, contact name, and phone number for each source even if also listed under

references)

Christopher Bruch

President & COO, The Donohoe Companies

(202) 625-8402

[email protected]

Robert Pincus

Vice Chairman, Eagle Bank (formerly of BB&T)

(202) 367-3024

[email protected]









7



The Peebles Corporation / InterContinental (IHG) Crowne Plaza Hotel


The Royal Palm Hotel

1545 Collins Avenue, Miami Beach, FL 33139

http://www.royalpalmsouthbeach.com/


Same as above.


The Peebles Corporation - Developer


In operation. In 2004, The Royal Palm was awarded IHG’s Hotel of the year. Also in 2004, the hotel was ranked

second in IHG’s guest satisfaction for all hotel properties in the Americas. The Royal Palm had the highest

REVPAR increase and largest profit increase of any IHG hotel that same year.



City of Miami Beach – Contracting Entity

Coastal Development in South Beach


350,000 GSF / 1.9 acres






8


393 Keys


264 - 1,393 sf



Former Restaurant – Britto’s by Romero Britto (renowned Brazilian Artist)

Full pool and beach F&B services for 300 chaise lounges and day beds

1,350 sf fully equipped fitness center and a 500 sf outdoor yoga deck

Renew The Spa (current operator) consisting of 6 treatment rooms plus manicure, pedicure and hair stations


Same as above


6,000 sf of versatile meeting facilities including outdoor function space.


None.


Art Deco materials


1997


2002


$85 million


Ocean Bank – Debt

The Peebles Corporation / Intercontinental Hotel Group – Equity


references.



9

Robert Chitty

SVP Corporate Finance, Intercontinental Hotel Group

(770) 604-5321

[email protected]

Federico Tunnermann

SVP, Ocean Bank

(305) [email protected]









10



The Peebles Corporation) / Sbe Hospitality


SLS Lux DC

901 5th Street NW, Washington D.C. 20001


Same as above.


Lead Developer


Predevelopment



District of Columbia – Contracting Entity



250,000 GSF; 20,641 Land Area


175 Keys



11


Average guest Room 365 sf



Restaurant: 6,450 sf / Operator: Spoonful

Rooftop Bar: 1,650 sf / Operator: Spoonful

Operator has managed numerous landmark restaurants in gateway cities including Las Vegas, Miami, Los Angeles

and New York. The restaurant will feature a prominent chef and drive traffic to both the hotel and surrounding

community. http://sbe.com/restaurants

Spa: 4,300 sf / Operator: sbe (hotel operator)


Same as above.


Meeting and Banquet Space: 11,100 sf


LEED Silver


Comprised of primarily steel and concrete with a pre-cast, steel and glass curtain wall.


Q1 2017 (est.)


Q1 2019 (est.)


$155 million


Eagle Bank – Debt (est.)

Peebles / MacFarlane Partners – Equity (est.)

Peebles is currently funding 100% of pre-development costs.

http://sbe.com/restaurants





13



The Peebles Corporation / Kimpton Hotels (est.)


Benjamin Franklin Parkway Hotel

1801 Vine Street, Philadelphia, PA 19103


Same as above.


Lead Developer


Predevelopment



City of Philadelphia – Contracting Entity



232,400 GSF / 87,000 Land Area


216 Keys


325 - 500 sf



14



Restaurant: 6,000 sf / Operator: TBD

Rooftop Bar: 1,500 sf / Operator: TBD

Spa: 2,500 sf / Operator: TBD

https://www.kimptonhotels.com/dine-overview


Same as above.


Meeting and Banquet Space: 20,000 sf


LEED Silver.


Built in 1940 and listed on the National Historic Places. Extensive renovation includes restoration of original

interior murals and restoration consisting of brick, terra cotta, exposed metal, plaster and stone.


Q1 2017 (est.)


Q3 2018 (est.)


$95 million


TBD – Debt

Peebles – Equity

Peebles is currently funding 100% of pre-development costs.


references)

Not applicable.






15

ATTACHMENT B

Comparable Hotel Development Experience

Starwood Hotels



16



Not Available / Starwood Hotels & Resorts


The Riviera Palm Springs, A Tribute Portfolio Resort

1600 North Indian Canyon Drive

Palm Springs, CA 92262

https://www.starwoodhotels.com/tributeportfolio/property/overview/index.html?propertyID=4368


Not applicable.


Franchised Resort within Tribute Portfolio


In operation.



Not available.


Building Area (Gross SF) 383,708 / 21-acre resort; Land Area (Gross SF) 933,491


398





17


300 SF - 1,761 SF



Food and Beverage Outlets: Bikini Pool & Bar, Sidebar, Starlite Lounge and Circa 59

Pools (3), Fitness Center, Business Center, Parking, 11,000 SF Spa


Same as above.


Indoor = 37,078 SF

Outdoor = 15,000 SF

Largest Ballroom = Grand Ballroom 19,670 SF


Not available.


Not available.


Built in 1959, renovated 2008


Joined Tribute Portfolio 11/3/2015


Not available.


Not available.


references).

Not available.



18





Aloft San Francisco Airport

401 East Millbrae Avenue

Millbrae, CA, 94030

http://www.starwoodhotels.com/alofthotels/property/overview/index.html?language=en_US&propertyID=3719


Not applicable.


Franchised Hotel, part of Aloft Brand .Previously owned by Starwood and converted to Aloft in 2012 (formerly a

Clarion property)


In operation.



Next to San Francisco Airport.


Building Area (Gross SF) 94,762 / approximately eight-acre site


253





19


~370 SF - 562 SF



Lobby (5,102 GSF) includes w xyz bar (2,313) and re:fuel by Aloft (756) food and beverage offerings.


Same as above.


675 SF (1 small meeting space)


(if any) Standard water and electricity green practices for hotel redevelopment


Not available.


Built in 1962


9/13/2012


Not available.


Not available.


references).

Not available.



20





Aloft Cupertino

10165 North De Anza Boulevard

Cupertino, California 95014

http://www.starwoodhotels.com/alofthotels/property/photos/index.html?propertyID=3753&mediaID=1016719

366


Not applicable.


Franchised Hotel, part of Aloft Brand


In operation.



Not available.


Not available


123








21


~324 SF - 443 SF



Re:fuel, our 24/7 grab & go gourmet snack station, is full of healthy bites, build-your-own hot breakfast and

make-your-own cappuccinos.

W XYZ® bar offers everything from pints to Pinot Noirs, plus a snack-attack menu that features locally sourced

bites, perfect for some late night noshing. We also host a variety of live entertainment from live acoustic

performances, DJ nights and more. Our 30-foot-long bar at W XYZ seats up to 14 people, plus couches in the

Re:mix Lounge, and outdoor additional seating.


Same as above.


1,110 SF (3 meeting rooms)


(if any) Standard water and electricity green practices for hotel redevelopment


Not available.


2012


8/13/2014


Not available.


Not available.


references).

Not available.



APPENDIX D: DEVELOPMENT CONCEPT IMAGES

Pac Beach Peebles Rfp Response 032816 Full

Documents

Transcript of Pac Beach Peebles Rfp Response 032816 Full