1 copyright 2006 alvarez & marsal real estate advisory services llc all rights reserved www alvarezandmarsal com city of abilene texas downtown hotel market analysis june 13 picture 2 3 mr john dugan develop director business 174 cypress street suite 100 tx 79601 dear the accompanying report has been prepared pursuant to engagement letter dated march 31 information reported and related recommendations are based on estimates assumptions other gathered from our selective interviews with local area lodging industry experts representatives comparable developments research defined competitive knowledge hospitality sources bases for stated herein while we believe that reasonable reliable not as part this performed an audit or review any financial used therefore does express
