The present projected hotel occupancy rates of the new Downtown hotel are as follows:
First year = 58%
Second year = 63%
Third year - the end of the bond = 67%
Please keep in mind that local hotel occupancy rates have been about 45% over the last several years. Also please keep in mind that there are three other hotels that are to be built in this area in the next couple of years not including the new one Downtown...
What do you think of their projected hotel occupancy rate?