mating rituals

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no sources needed just observe 2 people gay and straight to see if they are talking like they want to go on a date of just friends and record the dialog between them if you can hear it. and give example of the scenario, in detail ! this paper has to be three pages with an abstract and must record all data/ analyze to the paper
Topic Using The hotel Valuation software HMEV FIXVAR V3 Model
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Assignment objectives
The assignment is divided into two parts. Part A requires students to complete the valuation calculations on the basis of the instructions provided in this document and has been designed to allow students to apply a variety of valuation approaches utilised in the international hotel industry. Part B then requires students to critically evaluate the relevance and appropriateness of the valuation methodologies and assumptions applied in Part A and to consider the perspective and information required from the valuation process by different industry investors (i.e owner / operator / lender).
Task Part A ? Completion of valuation calculations
The Assignment Hotel is a 206 room 5-star (deluxe rather than superior deluxe) hotel due to open on 01 January 2017 close to the City of London (EC1). The hotel facilities comprise large, high specification rooms designed to appeal to the transient business and leisure hotel user. The hotel is a conversion of an existing building situated in close proximity to Barbican and Moorgate stations and within easy walking distance of St Pauls Cathedral and Liverpool Street. The hotel facilities will include two restaurants (one fine dining, one bistro), two small function rooms and two meeting rooms. The hotel is owned by a real estate investor and will be operated by an internationally renowned brand under a management agreement. Part A of this assignment comprises five components as follows;

Part A (1) ? Complete HMEV FIXVAR V3 Model

Utilising the Base Year proforma presented in the following table together with the following instructions you should complete the HMEV FIXVAR V3 model
? _Calculate the appropriate inputs to create the Base Year P&L shown in Table 1.
? _Inflation ? 2.5% per year across all revenues and expenses except property tax which requires -20% in 2017; 2.5% in 2018, 25% in 2019 and 2.5% thereafter.
? _10 year occupancy inputs ? 70% occupancy in 2017 and 2018 and 75% thereafter.
? _Future average rate inputs ? 2017 – ?195; 2018 – ?194; 2019 – ?205; 2020 – ?215.24. Model to calculate all future years based on 2.5% inflation.
? _Fixed costs %s ? apply in accordance with standard model.
11 Part A (2) ? Complete ?unleveraged? DCF valuation model
Using the future Net Income estimates from the FIXVAR V3 model, complete the ?unleveraged? DCF valuation model to arrive at estimates of value based on;
? _Multiple of maintainable earnings based on stabilised year 2021 and a 14x multiple.
? _DCF valuation based on a discount rate of 10% and a 14x exit multiple in year 20.

Part A (3) ? Complete HMEV VarHold V3.1 model
Using the future Net Income estimates from the FIXVAR V3 model, complete the ?leveraged? HMEV VarHold V3.1 model to arrive at estimates of value based on;
? _First projection year ? 2017;

? _Holding period 10 years
? _Stabilised year ? 2021
? _Equity yield ? 11.5%
? _Terminal cap rate ? 7%
? _Selling expenses ? 2.5%
? _Mortgage interest rate ? 7.5%
? _Mortgage Amortization ? 25 years with 12 payments per year
? _LTV ratio ? 60%
? _Debt coverage ratio ? 1.50
? _Debt yield ? 10%

Part A (4) ? Complete sales comparison valuation calculations
Throughout the module, you will be provided with a number of documents containing details of recent UK hotel transactions. Using these, coupled with your own research, you are to provide a table of relevant comparable hotel valuation data with a guide as to the indicated valuation range.
Part A (5) ? Provide a final conclusion of value for the Assignment Hotel
On the basis of the foregoing methodologies in Parts A (2-4) you are to provide a final conclusion as to the current market value of the Assignment Hotel with commentary to support your rationale.
Part B
In Section B, you should
? _Critically evaluate the strengths and limitations of the valuation methodologies utilised in part A and recommend any alternative valuation methodologies you deem appropriate;
? _Critically assess the appropriateness of the assumptions used in the unleveraged valuation approaches – Part A (2) and the leveraged valuation approaches ? Part A (3);
? _Comment on the perspective of, and information required by, parties interested in the valuation exercise i.e the hotel owner; lender, and management company.
Topic Install , Configure and Test a Complex Network
Preferred language style UK English Paper details
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