The assessment included visual technical reviews of the hotel for the purpose of identifying present condition status and areas where major repairs and/or replacements would be required in the next 20 years, along with associated cost estimates. The building assessments identified the dollars needed, for major repairs and/or replacements, over the short term (next 5 years) and long term (next 6 to 20 years). With this information, the CP Hotels Board of Directors analyzed their risks and options prior to purchasing the hotel, which became part of the "Legacy REIT" portfolio.
The main building components assessed included:
- Foundation and Superstructure
- Building Envelope - exterior walls, windows, sealants
- Roofing and Roof Anchors
- Interior Construction
- Fire and Life Safety Systems and Barrier-free Access
- Elevators and Conveying Systems
- Mechanical and Electrical Systems
- Security and Telephone
- Site Services and Landscaping
- Storage Buildings and Areas
- Parking Lots
- Garbage and Waste Removal Systems