Holiday Inn

Express –
Martinsville

By: Kalpak Shah and Kayak Hotels Group

Introduction
• Kalpak Shah is the CEO of Kayak Group with a BS in
Electrical Engineering and an MS in Computer
Science, and industry experience of over 25 years in
hotels and real estate development.
• Kayak Group has successfully developed rental
apartments, hotels, corporate housing, and strip
centers in Mid-Atlantic and Southeast region.
• Kayak Group has 25 years of real estate industry
experience involving acquisitions, finance, design,
development, contract negotiations, procurement,
and management, with assets worth $150 million.
• Kayak Group has developed strong partnerships
with contractors, architects, designers, engineers,
lenders, and vendors (locally and internationally).
Holiday Inn Express & Suites 4 Story, 80 Units
Martinsville, Located at Armory Lot

Architect, Site Engineer & Other Professional Fees $ 500,000.00

Site Preparations Breakdown: $ 100,000.00
Bond to County: $ 5,000.00
Civil Engineering: $ 50,000.00
DEQ Permit: $ 20,000.00
Legal Fees $ 30,000.00
Plan Review Cost $ 5,000.00
Utility Connection Fees $ 10,000.00
Franchise Application Fees $ 100,000.00
Freestanding and Wall-mounted sign $ 75,000.00
Laundry Equipment $ 60,000.00
FF&E $ 1,500,000.00
FF&E Installations Labor $ 35,000.00
PBX and PMS Systems $ 75,000.00
Internet Wi-Fi System $ 50,000.00
Construction Cost $ 6,200,000.00
Bank Loan Fees & Accrued Interest $ 500,000.00
Pre-opening Expense $ 25,000.00
Builders Risk Insurance $ 30,000.00
Change Orders/Miscellaneous Expenses $ 630,000.00

Total $ 10,000,000.00

Cost per Guest room $ 125,000.00

 Holiday Inn Express Martinsville, Budget
Rooms 80.00 Employees Required
Occupany 65% 70% 73% 75% General Manager 1
ADR 130.00 135.00 140.00 145.00 Sales Manager 1
RevPar 84.50 94.50 102.20 108.75 Front Desk Supervisor 1
Front Desk Clerks 4
Executive
2025 2026 2027 2028 Housekeeper 2
4005 · Room Rentals 2,467,400.00 2,759,400.00 2,984,240.00 3,175,500.00 Housekeepers 8
4006 · Miscellaneous Revenue 25,000.00 30,000.00 32,000.00 35,000.00 Maintenance Engineer 1
4010 · Customer Refunds 2,500.00 3,000.00 3,500.00 3,800.00 Houseman 1
Total 4000 · Revenues 2,489,900.00 2,786,400.00 3,012,740.00 3,206,700.00 Brreakfast Hosts 2
Expense Laundry Person 2
6500 · Payroll Expenses 497,980.00 557,280.00 602,548.00 641,340.00 Total 23
6500 · Other Expenses 1,244,950.00 1,393,200.00 1,506,370.00 1,603,350.00
Other Benefits to
Total Expense 1,742,930.00 1,950,480.00 2,108,918.00 2,244,690.00 Local Economy
Sub Contractors
Local Labor for
Net Ordinary Income 746,970.00 835,920.00 903,822.00 962,010.00 Construction
7010 · Mortgage Interest 540,000.00 540,000.00 540,000.00 540,000.00 Materials Purchased
Professional Engineers
Net Income 206,970.00 295,920.00 363,822.00 422,010.00 Generate tax revenue
Solve shortage of
Debt Service Covergae Ratio 1.38 1.55 1.67 1.78 rooms

EMPLOYEMENT GENERATED 23 24 25 26
ESTIMATED TAX REVENUE
Buiness Licnese 8,963.64 10,031.04 10,845.86 11,544.12
Buiness Personal Property 5,000.00 5,000.00 5,000.00 5,000.00
Lodging Tax 7% 174,293.00 195,048.00 210,891.80 224,469.00
Real Estate Tax 35,000.00 35,000.00 35,000.00 35,000.00
ESTIMATED TAX INCOME FOR CITY 223,256.64 245,079.04 261,737.66 276,013.12
EXTERIOR
KEY DESIGN FEATURES

1
1 Illuminated brand signage is
viewable from every angle

2 Holiday Inn Express® blue

lighting is an iconic brand
beacon that attracts guests as
they approach the building

3 Porte-cochere provides a warm

2
and welcoming entry to the
hotel

3
PROTOTYPICAL SITE PLAN

Prototype Site Plan Details

Size of Site 1.79 acres

Gross Building Area 52,383

Number of Floors 4

Total Room Count 93

Gross Building Area per Key 563

Parking Spaces 108

Pool Indoor

1
1 Porte Cochere
2 Multiple site entrances

2 2
 The Holiday Inn Express® public space is upbeat, dynamic, and friendly, with
varying sightlines that ensure amenities are easily identifiable and accessible. This
PUBLIC SPACE environment allows the Smart Traveler to control and tailor their experiences to
meet their needs, whether interacting with an individual or group, working, or

OVERVIEW taking a break. Smart Travelers are self- drivers. They love the feeling of flow and
control that comes from choosing their own path.
The public spaces provide the right mix of flexible area and furnishings to
accommodate a wide range of needs and functions simultaneously.
FIRST FLOOR
FLOOR PLAN

7 8
6 12
10 11

3
5
2 10
4

1 Entry Vestibule 4 Perching Area 7 Great Room 10 Elevator Lobby

2 Check-in 5 Business Center 8 Flex Meeting Space 11 Fitness Center

3 Market 6 Breakfast Bar 9 Patio 12 Indoor Pool

UPPER LEVELS
FLOOR PLAN

2
3 6
5
1

1 Elevator Lobby 4 Corridor

2 Ice Machine 5 Guest Room

3 Storage 6 Stairs
CHECK-IN
KEY DESIGN FEATURES

1 Design signature element

presents the brand that guests
know and trust

2 Hidden storage is functional

1
without sacrificing the feature
wall

2
3 Open check-in enhances
interaction between hotel staff
and guests 3
PERCHING AREA &
BUSINESS CENTER
KEY DESIGN FEATURES 1

2
1 The branded lobby wall is a
hallmark and provides
consistency across all hotels. It
can include an integrated TV
which provides a convenient
3
place for guests to receive local
news and weather

2 Perching area with regional

wall map provides guests with
a sense of place

3 A mix of seating styles, color

4
and patterns, provides a
welcoming, comfortable and
energetic spot to wait, work or
relax

A dedicated Business Center

4
opens to the lobby and great
room while the sectional sofa
offers convenient power outlets
MARKET
KEY DESIGN FEATURES

2
1 Adjacency to check-in allows
clear visibility for staff to
monitor both areas

2 Full-size refrigerator and freezer

allow for a variety of items and
the highly visible location
ensures every guest sees
product offerings

Base cabinets used for storing 3

3 1
overstock product can be
locked for security
GREAT ROOM
KEY DESIGN FEATURES

1 Storefront windows provide 3

ample natural light 1

2 The Great Room provides

comfortable and flexible
seating 2

TV feature wall brings texture

3
to the space and creates
comfort and intimacy
BREAKFAST BAR
KEY DESIGN FEATURES

1 Coffee and tea placement

outside the main breakfast
space reduces congestion
3
1
2 Operable doors at breakfast
area close off the space
when not in use, allowing
for prep and cleanup out of 2

view of guests

3 Express Start® breakfast bar

provides the Smart Traveler
with a delicious variety of hot
and cold breakfast favorites
FLEX MEETING
SPACE (OPTIONALINRENOVATION)
KEY DESIGN FEATURES

1 Sliding doors allow the space

to be used as extended Great
Room seating during busy
breakfast hours

2 Modular design of meeting

room chairs allow them to be
stacked and stored easily

2
FITNESS CENTER
KEY DESIGN FEATURES

1
1 Branded tone-of-voice wall
graphic inspires action
2

2 Natural light creates a bright

and energetic space for
exercising

3 Varying options of state-of-the- 3

art equipment provide the best
workout environment for guests
POOL
KEY DESIGN FEATURES

1 Natural lighting and accent wall

colors brighten up the pool
space to create a welcoming
environment for guests

2
Bright colors and tones bring
1 2
the pool to life while reminding
the guest of the clean Holiday
Inn Express® experience
3
3
Brand-specified pool furniture
allows for consistent product
delivery
PATIO (OPTIONAL)
KEY DESIGN FEATURES

1 The patio extends the great

room space for guests to
collaborate or socialize
2

Exterior seating options can

2
be incorporated into a variety
of patio layouts

Patio tables and chairs provide 3 1

3
overflow for busy breakfast
mornings
GUEST ROOM The Holiday Inn Express® guest room provides a fresh, clean,
and contemporary space with features that allow guests to
OVERVIEW be productive during their stay and have a great night's
sleep.
GUESTROOM
KEY DESIGN FEATURES

1 2

Refreshment Zone — a built-in

1
niche houses the under-counter
refrigerator, microwave, coffee
maker, and extra supplies in one
central location

2 Room lighting strategically

placed to provide fresh
illumination that is both
welcoming and functional

3 Large window maximizes

natural light. If the sunlight is
unwanted, the blackout shade
with channels provides a
completely dark and private 3
room
GUESTROOM
KEY DESIGN FEATURES 1

1
Decorative panel reduces TV
noise vibration to adjacent
rooms and can accommodate
up to a 55" television (43" TV
shown in render)
2 3
Smart components give guests
2
the freedom to live out of their
suitcase or unpack into a variety
of options including wardrobe,
drawers, and open hanging

3 Conveniently located, the Smart

Shelf provides a landing zone at
guest arrival and additional
counter space near the
bathroom and full-length mirror

4
Headboards with integrated
power. The headboard 4
functions as a key noise
reduction piece in the room.
The night stands with
integrated power allow the
Smart Traveler to stay plugged
in
GUEST BATHROOM
KEY DESIGN FEATURES

Lit mirror provides fresh 3

1
illumination that is both
welcoming and functional 1

2 Materials are all light in color so

guests can see that it is clean

3 Grout-less shower/tub
surrounds are easy to clean and
maintain

2
GUESTROOM FLOOR PLANS
KING SUITE

*Mobile table shown in King Guestroom is optional

GUESTROOM FLOOR PLANS
KING ACCESSIBLE

*Mobile table shown in King Guestroom is optional