Mr. David J. Sangree, MAI, CPA, ISHC

Hotel & Leisure Advisors, LLC
14805 Detroit Avenue, Suite 420
Cleveland , OH 44107
Office: 216-228-7000
Fax: 216-228-7320

Introduction

David Sangree, MAI, CPA, ISHC expertise is in the appraisal, market analysis, and litigation support for hotels, resorts, waterparks, amusement parks, conference centers, ski resorts, casinos, and golf courses. He has performed studies on more than 2,000 existing and proposed hotels and leisure properties in more than 46 states in all price ranges. He has provided litigation support and testified in various cases involving hotels, ski resorts, golf courses, and waterparks throughout the United States. Mr. Sangree is a nationally recognized expert on waterpark resorts and has performed studies of over 400 waterpark resorts in the United States and Canada.


Areas of Expertise

  • Aquatics
  • Business Valuation
  • Commercial Real Estate
  • Finance
  • Franchising
  • Golf Course Appraisal
  • Hotel & Hospitality
  • Hotel Appraisal
  • Marketing
  • Real Estate
  • Statistics

Expert Background

Q: Please list your professional accreditations, degrees, licenses, and certificates granted:
A: MAI - Appraisal Institute Member
CPA - Certified Public Accountant
ISHC - International Society of Hospitality Consultants
Certified as a General Real Estate Appraiser in the states of Ohio, Michigan, Illinois, New York, Kentucky, Georgia, Texas, Virginia and Wisconsin. Temporary certification available in all other states.
Certified as a Public Accountant in the state of Ohio

Q: Please list your affiliations or memberships in any professional and/or industry organizations:
A: International Association of Amusement Parks and Attractions (IAAPA)
World Waterpark Association (WWA)
The School of Hospitality Business at MSU Real Estate & Development Advisory Council
Appraisal Institute, MAI (Former President, Northern Ohio Chapter)
The Appraisal Journal Review Panel
American Institute of Certified Public Accountants (AICPA)
Cornell Hotel Society (Past Treasurer - Chicago, IL chapter)
International Society of Hospitality Consultants (ISHC)
Ohio Hotel and Lodging Association
National Golf Foundation
National Ski Areas Association
Q: Please list any teaching or speaking experience you have had, including subject matter:
A: "Waterpark Resorts Market/Feasibility Analysis and Appraisal" presentations at the World Waterpark Association annual conventions in 2015, 2014, 2013, 2012, 2011, 2010, 2009, 2008, 2007, 2006, 2005, 2004, and 2003
“Revenue Management-to Do List” Nov. 2014 at NATHIC Hotel Investment Seminar, Chicago, IL
“The Food Revolution” Nov. 2013 for NATHIC Hotel Investment Seminar, Chicago, IL
Waterparks and Resorts Outlook” April 2013 for Aquatics International webinar
"Waterpark Resorts Market/Feasibility Analysis and Appraisal" presentations at the World Waterpark Association annual conventions in 2012, 2011, 2010, 2009, 2008, 2007, 2006, 2005, 2004, and 2003
“Hotel Valuation Seminar" October 2012 at the Integra Realty Resources appraiser training in Las Vegas, NV
“Suburban Hotels Panel” July 2012 at the Midwest Lodging Investors Summit in Chicago, IL
“Overview of Cleveland Lodging Market” April 2012 at the Ohio Hotel and Lodging Association Cleveland Lodging Council Meeting, Cleveland Ohio
“Cleaning up Hotel Distress” July 2011 at the Midwest Lodging Investors Summit in Chicago, IL
“Valuation Issues Affecting Hotel Properties in the Current Real Estate Economy” August 2010 at the Institute for Professionals in Taxation in Cleveland, OH
“Indoor Waterpark Resorts: Where Are the Opportunities?”
July 2010 at the Midwest Lodging Investors Summit in Chicago, IL
“Opportunities for Innovation” April 2010 at the Cornell University School of Hotel Administration's Hotel Ezra Cornell (HEC) conference, Ithaca, NY
“Case Study Presentation on Performing a Market Feasibility Study” October 2009 at the
International Society of Hospitality Consultants annual conference in Québec City
“Insights into 2010 Market Performance” October 2009 - a video segment on Hotel News
Network interviewing Mr. Sangree along with other leading ISHC consultants
“Hotel Financing Track - Taking Advantage of Distress: Where are the Opportunities?”
July 2009 at the Midwest Lodging Investors Summit in Chicago, IL
“Seminar on Hospitality Industry” February 2008 at the Northern Ohio Chapter of the Appraisal Institute quarterly meeting in Cleveland, OH
“Challenges of Obtaining Financing for Indoor Waterpark Resorts,” November 2007 at the World Resort Leadership and Development Conference in Orlando, FL
Port Clinton Ohio City Council Meeting, Provided description of resort feasibility study and economic impact study performed for the city council and attendees in September and October, 2007
“Water Park Wars” An in depth news segment on Good Morning America on June 23, 2007 featured Mr. Sangree as an interviewee
“Feasibility Analysis for Indoor Waterpark Resorts,” October 2006 at Cornell University’s School of Hotel Administration Development Class
Q: Have any of your accreditations ever been investigated, suspended or removed? (if yes, explain)
A: No
Q: On how many occasions have you been retained as an expert?
A: Over 40
Q: For what area(s) of expertise have you been retained as an expert?
A: Valuations of hotels, golf courses, ski resorts, and waterparks
Waterpark and hotel operational issues
Q: In what percentage of your cases were you retained by the plaintiff?
A: 70%
Q: In what percentage of your cases were you retained by the defendant?
A: 30%
Q: On how many occasions have you had your deposition taken?
A: Over 15
Q: When was the last time you had your deposition taken?
A: 2012
Q: On how many occasions have you been qualified by a court to give expert testimony?
A: Over 30
Q: On how many occasions have you testified as an expert in court or before an arbitrator?
A: Over 30
Q: For how many years have you worked with the legal industry as an expert?
A: Over 15 years
Q: What services do you offer? (E.g.: consulting, testing, reports, site inspections etc.)
A: Valuations, consulting
Q: What is your hourly rate to consult with an attorney?
A: $350-$400 per hour
Q: What is your hourly rate to review documents?
A: $350-$400 per hour
Q: What is your hourly rate to provide deposition testimony?
A: $400-$450 per hour
Q: What is your hourly rate to provide testimony at trial?
A: $400-$450 per hour
Q: Please list any fees other than those stated above (E.g.: travel expenses, copy fees, etc.)
A: Additional fees for out-of-pocket expenses


References

References are available upon request