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The services offered by the firm are diverse, and they are based largely on the experience of the members of the firm as well as their market research and financial analysis skills. The most common types of services offered by Kallenberger Jones & Co. include the following:

Acquisition Analysis
Kallenberger Jones & Co. will analyze a hotel, or a portfolio of hotels, that are being considered for acquisition. Typically, this analysis includes an assessment of the competitive market, consideration of the asset’s capital needs, and management and brand affiliation analysis. Based on determined strategies, Kallenberger Jones & Co. will assess the development risk, project occupancies and average rates over a defined ownership period, and develop a revenue and expense operating proforma for the lodging asset(s).

Strategic Planning
Kallenberger Jones & Co. will assist financial institutions, owners, developers, and landowners in formulating strategic plans for their assets, whether they be individual or in a portfolio. These planning efforts may focus on asset disposition, long-term development, organizational context, operating plans, and other concerns. Typically, some market or operations analysis will be performed in support of strategic plans.

Asset Management
Asset management assignments would typically involve an assessment of market and operational problems, the development of strategies necessary to improve cash flow, and the preferred means of implementing changes in operating practices. Issues which often need to be addressed include the optimal market position of the project, operating efficiencies, the state of the physical assets, capital expenditure programs, the capabilities of management, the impact of a brand affiliation, and asset retention or disposition strategies. Asset management assignments are often long-term and include attendance at monthly owner-management meetings and periodic reports on the progress of efforts to enhance cash flow and improve the operations.

Market Analysis
An understanding of the market conditions under which a hospitality project will operate is usually critical to most major ownership, management, and development decisions. The parameters of the development of a project, operating strategies, and other issues depend largely on the market outlook. Kallenberger Jones & Co. will undertake a broad spectrum of analyses, ranging from preliminary verbal reports to full market studies that are suitable for presentations to prospective lenders or investors. The consultants of Kallenberger Jones & Co. have been responsible for the preparation of hundreds of market studies for a variety of hotel projects as well as related developments including golf courses and resort residential and commercial projects.

Project Feasibility
The firm will assist owners in evaluating the returns available from a proposed development, an addition, or a renovation. Estimated cash flow will be reconciled with development costs, and a variety of simple and sophisticated measures of return can be prepared. While it is preferable to have cost estimates developed by an experienced cost engineer, the firm has a variety of sources which can be used to develop order-of-magnitude cost estimates.

Workout Consulting
Kallenberger Jones & Co. will work with the lender and/or owner to formulate a realistic projection and to bring to light key issues (ground lease, management contract, and brand requirements, etc) concerning the workout of a troubled asset. Kallenberger Jones & Co. will work alongside legal experts in the evaluation of various debt restructuring options and solutions. Kallenberger Jones can also prepare appraisals in support of the workout process.

Site Planning
Kallenberger Jones & Co. will assist planners and architects in developing the fundamental layout and orientation of individual hotels or large multi-use projects. Often, the depth of experience of the consultants of the firm and their knowledge of expected market conditions allow them to make important contributions in the planning process. The work of the firm can have significant benefits in the planning of mixed-use projects and large integrated resorts in that the relationship of individual projects to other elements of these large developments has far-reaching impacts.

Site Selection
The firm will undertake assignments concerned with the evaluation of the attributes of one or more project sites. These studies may involve a search for suitable development sites, a comparative evaluation of several available sites, an analysis of a specific site, or similar tasks.

Evaluation of Operations
The principals of the firm have performed diagnostic reviews of the operations of a wide variety of hotels. These include extensive one-time studies of the major departments of a hotel and asset management functions conducted on an ongoing basis.

Litigation Support Services

Kallenberger Jones & Co. will provide market analysis, valuations, operations evaluations, estimates of lost income, and other services in support of litigation. Consultants in the firm have appeared as expert witnesses in civil actions, tax appeals, and arbitrations.

Development Support Services
Kallenberger Jones & Co. will provide consulting services in support of the development process, including the development of the hotel concept, negotiations with hotel companies, hotel facilities programs, assessment of the qualifications of specialty consultants, review of
architectural plans, entitlement submissions, etc.