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David J. Sangree, MAI, CPA, ISHC President Professional Affiliations International Association of Amusement Parks and Attractions (IAAPA) Education Bachelor of Science, Hotel Administration, Cornell University, 1984 State Certification Certified as a General Real Estate Appraiser in the states of Ohio, Michigan, Illinois, New York, Pennsylvania, Kentucky, Georgia, Texas, Virginia and Wisconsin. Temporary certification available in all other states. Experience
Mr. Sangree’s expertise is in the feasibility analysis and appraisal of hotels, resorts, indoor waterpark resorts, waterparks, amusement parks, conference centers, ski resorts, casinos, and golf courses. He has performed studies on more than 1,000 existing and proposed hotels in more than 46 states in all price ranges including economy, full-service, extended-stay, and luxury hotels and resorts including indoor waterpark resorts. He has extensive experience in performing market and feasibility studies, impact analysis, appraisals, economic impact studies, financial analysis and performance projections, site selection, and financial reviews for hospitality properties. He has been an active appraiser/consultant since 1987 and also has 10 years of work experience in the hotel/restaurant industry including management positions with four Westin Hotels properties. He is active in the analysis and valuation of land and other income-producing property types including multi-property portfolios. Mr. Sangree is a nationally recognized expert on waterpark resorts and has visited most of the open waterpark properties in the United States and Canada. He has performed more than 200 studies of hotels and resorts with indoor waterparks since 1999, and he maintains a database of statistical information concerning indoor and outdoor waterpark resorts. Mr. Sangree was named in 2008 one of Aquatics International Magazine’s "Power 25." Aquatics International publishes an annual list of professionals it deems the most powerful people in the aquatics industry. Mr. Sangree was profiled as one of the first consultants serving the waterpark resort industry and for his expertise and experience in shaping some of the latest industry trends. Mr. Sangree has appeared on Good Morning America and CNBC on special reports concerning resorts and waterparks. Recently Published Articles "Top 10 Largest Hotel Brands Average Sale Prices" Hotel News Now, September 2011 “Waterpark Resorts Supply and Demand 2011 Update” Hotel News Now, August 2011 "The Lodging Market is Improving in Ohio's Big Cities" Hotel Online, September 2010 "Waterpark Resorts Supply and Demand 2010 Update" Hotel Online, June 2010 "Financing your Indoor Waterpark Resort in 2010" Hotel News Now, June 2010 "2009 Median Hotel Prices Plummet - Is it Time to Appeal Your Property Taxes?" Hotel Online, November 2009 "Financing Your Indoor Waterpark Resort in 2009" Hotel Online, September 2009 "Outdoor Waterparks: Private vs. Municipal" Aquatics International, September 2009 "Indoor Waterpark Supply and Demand Mid-Year 2009 Update" Hotel Online, July 2009 "Indoor Waterpark Resort Supply Grows and Faces Challenges in 2009" Hotel News Now, February, 2009 "Dealing With the Economic Downturn: 10 Ideas for Hotels and Resorts" Hotel Online, December, 2008 "Cleveland's Second Wind: 2008 Overview" Hotel Online, September, 2008 “Financing Your Indoor Waterpark,” World Waterpark Association’s 2008 Development and Expansion Guide “Indoor Waterparks Surfing a Wave in North America in ‘08” Hotel Online, July 2008 and Water Leisure and Lodging, July, 2008 "Economic Impact Studies Help Land Financing" Hotel Motel Management, May 2008 “Unique Ways for Resorts to Radically Increase Revenue” Developments Magazine an ARDA Publication, April, 2008 “Indoor Waterparks Supply and Demand Growth in ‘07,” Lodging Hospitality, September 2007 “Appraisal & Market Analysis of Indoor Waterpark Resorts,” Waterpark Development and Expansion Guide ’07 “Financing Your Indoor Waterpark Resort,” Waterpark Development and Expansion Guide ’07 and Hotel Online, August 2007 “Indoor Waterparks Make a Bigger Splash in North America,” Water Leisure & Lodging 2007 and Hotel Online, July 2007 “Waterpark Resorts Top 10 by Revenue,” Waterpark Resorts Today Annual IT Book, 2007-2008 “Number of Indoor Waterpark Destination Resorts Grow in 2007,” Hotel Online, February 2007 “Riding the Wave, Indoor Waterpark Resort Numbers Increase in ‘06” Water Leisure and Lodging and Hotel Online, September 2006 “Appraisal & Market Analysis of Indoor Waterpark Resorts,” Waterpark Development and Expansion Guide ’06 and Hotel Online, September 2006 “Financing Your Indoor Waterpark Resort,” Waterpark Development and Expansion Guide ’06 and Hotel Online, September 2006 “Adding a Waterpark to a Hotel: Is it a Good Idea?” Hotel & Motel Management, June 2006 “Midwest Whets Appetite for Indoor Waterparks,” Heartland Real Estate Business, May 2006 “Ohio’s Lodging Market: Historical Analysis & 2006 Forecast,” Hotel Online, March 2006 “Indoor Waterparks and Hotels, a Case Study,” Hotel Investment Issues and Perspectives Fourth Edition, January 2006 & Hotel Online, February 2006 Quoted extensively in CNN.com, Columbus Business First, Columbus Monthly, Hotel Business, Chicago Sun Times, Columbus Dispatch, Cleveland Crain's, Cleveland Plain Dealer, Cincinnati Business Courier, Fort Myers News-Press, Hotel Interactive, Cornell Hotel and Restaurant Quarterly, Meeting News, Aquatics International, Midwest Real Estate News, New York Times, CNBC, Albany Times Union, RCI Ventures, Time Magazine, USA Today, and other publications. He has appeared on CNBC and ABC on segments concerning resorts and waterparks. Recent Speaking Engagements "Waterpark Resorts Market and Feasibility Analysis"October 2011 at the World Waterpark Association Annual Convention in New Orleans, LA "Cleaning up Hotel Distress"July 2011 at the Midwest Lodging Investors Summit in Chicago, IL "Waterpark Resorts Market and Feasibility Analysis"October 2010 at the World Waterpark Association Annual Convention in San Antonio, TX "Valuation Issues Affecting Hotel Properties in the Current Real Estate Economy" August 2010 at the Institute for Professionals in Taxation in Cleveland, OH "Indoor Waterpark Resorts: Where Are the Opportunities" July 2010 at the Midwest Lodging Investors Summit in Chicago, IL "Opportunities for Innovation" April 2010 at the Cornell University School of Hotel Administration's Hotel Ezra Cornell (HEC) conference "How to Analyze the Market and Determine Economic Feasibility" October 2009 at the World Waterpark Association Development Workshop in Orlando "Case Study Presentation on Performing a Market Feasibility Study" October 2009 at the International Society of Hospitality Consultants annual conference in Québec City "Insights into 2010 Market Performance" October 2009 - a video segment on Hotel News Network interviewing Mr. Sangree along with other leading ISHC consultants "Hotel Financing Track - Taking Advantage of Distress: Where are the Opportunities?" July 2009 at the Midwest Lodging Investment Summit in Chicago, IL "How to Analyze the Market and Determine Economic Feasibility" October 2008 at the World Waterpark Association Development Workshop in Las Vegas, NV "Indoor Waterpark Resorts" July 2008 at the Midwest Lodging Investors Summit in Chicago, IL "Seminar on Hospitality Industry: Focus on Cleveland including the Proposed Convention Center and the Indoor Waterpark Resort Market Nationwide" February 2008 at the Northern Ohio Chapter of the Appraisal Institute quarterly meeting in Cleveland, OH "Challenges of Obtaining Financing for Indoor Waterpark Resorts," November 2007 at the World Resort Leadership and Development Conference in Orlando, FL "How to Analyze the Market and Determine Economic Feasibility," October 2007 at the World Waterpark Association Conference in Palm Springs, CA "Industry Outlook and Trends," October 2007 at the World Waterpark Association Conference in Palm Springs, CA Port Clinton Ohio City Council Meeting, Provided description of resort feasibility study and economic impact study performed for the city to council and attendees in September and October, 2007 "Water Park Wars" An in depth news segment on Good Morning America on June 23, 2007 featured Mr. Sangree as an interviewee Litigation Assignments Involving Expert Testimony Franklin Couty Board of Revision (2011) Nebraska Tax Equalization and Review Commission (2011) State of Virginia Circuit Court (2011) Licking County Board of Revision (2010) Ohio Board of Tax Appeals (2010) Ohio Board of Tax Appeals (2010) San Diego Superior Court (2010) Board of Revisions Tax Appeal (2010) United States Bankruptcy Court (2010) Board of Review Tax Appeal, Lake Delton, Wisconsin (2009) Board of Revisions Tax Appeal (2008) Marion County Indiana Superior Court (2008) New York Supreme Court, Niagara County (2008) State of Virginia Circuit Court (2005 and 2008) Board of Revision Tax Appeal (2006) Board of Revision Tax Appeals (2005) United States Bankruptcy Court (2004) State of Florida Circuit Court (2004) Board of Revision Tax Appeal (2003) College Park Holdings, LLC versus RaceTrac Petroleum, Inc. (2002) Board of Revision Tax Appeal (2003) Nationwide Insurance versus Motor Inn, Inc. (2003) |
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