The first two UrCove hotels are expected to open in Shanghai and Beijing by late 2020.
Simon today announced it has commenced construction to bring the AC Hotel by Marriott brand to Sawgrass Mills, the largest outlet and value retail shopping destination in the United States. The 174-room hotel is expected to open in late 2020 a timeframe that would coincide with the shopping center's 30th anniversary.
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In Part II of this article, I discuss the importance of diving into local market comparable sales when facing an independent motel valuation. Equally important is knowing the markets prevalent RRM and sales price per key.