Real Estate Advisors & Property Strategy Consultants
Over a number of years, Rick Hill has provided a variety of services to the Hotel Del Coronado located in Coronado Beach, California near the city of San Diego for clients KSL Resorts and Strategic Hotels and Resorts.
This world famous 757-room resort built in 1888 is a National Historic Landmark. Mr. Hill provided retail enhancement strategies, space planning, and overall asset advisory services to the retail components of the hotel.
The 19 shops and cafes located in the property produce sales in excess of $1,000 a square foot and the logo shop’s sales exceed $2,000 a square foot.
The shops are owned by the hotel and produce an average net operating income of 35% on sales, substantially above a typical landlord tenant relationship which would not produce more than 20% of sales in rent.
Rick has developed plans to increase the retail offering in the Hotel Del and to better integrate the entire resort with the adjacent main street of Coronado Beach with a “beach walk” and bungalow shops.
