Dallas - Success Stories

HVS Market Studies For Proposed Hotels Contribute To Successful Openings

"Amanda Repert leads a team which responds in the utmost professional and timely manner. We have exclusively used HVS for market studies and appraisals over the last four years, ranging from luxury hotels to select-service properties. We can highly recommend their services to anybody in the hospitality industry."

Paul Wischermann,
President,
Wischermann Partners

Project
The Sheraton Midtown Exchange opened in late 2005, as part of the redeveloped Sears site in Minneapolis, Minnesota. The Midtown Exchange, which opened after two years of construction and a total of twelve years of community development efforts, transformed this area of the city. In addition to the 136-room hotel, the project also included the Allina Hospital and Clinics headquarters, as well as significant residential components and retail outlets, encompassing a total development cost of $190 million.

The HVS Assignment
HVS was asked to prepare a market study that appropriately considered all facets of the coming development and transformation of the entire Sears site. The project required “out-of-the-box” thinking, as well as an intimate understanding and appreciation of Starwood’s Sheraton brand. A well-supported analysis and document was executed to help investors understand the vision of the hotel and its potential future operating results and investment returns.

Results
HVS’s study, under the leadership and execution of Amanda Repert, was a contributing factor to the hotel’s successful development. The Sheraton now offers Midtown visitors 136 beautifully-appointed rooms with such appointments as flat-screen televisions, a restaurant and lounge, and recreational amenities including an indoor pool. In 2006, Amanda and the approximate 30-person HVS Dallas/Atlanta team completed over 1,000 studies. A high commitment to excellence, quality and customer service contribute to this team’s success.