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Clients are provided complete Due Diligence services including preliminary site planning, presentations to municipal agencies, lenders and others. Financial analysis of the hotel project and other preliminary due diligence services are provided to insure clients that all financial and planning issues have been reviewed and approved before major financial commitments are made.
Americor, Inc has adopted a “crawl”, “walk”, “run” approach to due diligence and the ultimate construction of a hotel project. This approach is designed to minimize capital outlay as the idea of a new hotel begins to unfold. Clients move forward on sound financial footings before making major financial commitments. The “crawl” stage suggests that land be optioned or escrowed subject to all the final approvals necessary from both governmental agencies and financial institutions. During the “crawl” stage, the client spends a minimum researching the viability of the project. Many times in the hotel industry client’s purchase land before governmental, financial, and feasibility issues and costs have been determined. The “crawl” stage allows a client to have a basic understanding of the process before making major capital outlays.
Once the “crawl” stage offers a comfort level to the client, generally, we move into the “walk” stage where the client begins to invest in plans, feasibility studies, soils reports, level one environmental studies, construction cost analysis and other research necessary to bring the project to the point of closing on the land, obtaining building permits, recording construction loans and other items necessary so the project can begin. The “run” stage is reached after the client has been satisfied with all aspects of the project and is ready to move forward with the actual development of the hotel. |
