“Demand Narrative” Released for Proposed Hotel/Conference Center to Replace Faculty Club
Below is an official “demand narrative” related to the proposed hotel/conference center that is the replace the existing Faculty Center. Center members are currently balloting on whether this project should be approved or not. The document in its original form can be found at http://www.senate.ucla.edu/documents/ProposedConferenceCenterDemandNarrative_Morabito-7Mar2011.pdf It is reproduced here in full because it is labeled “draft” and it is useful to preserve the initial language. The narrative does not directly address two issues: Downside risk. All forecasting is done with error. It seems unlikely – if the projections of revenue do not pan out – that UCLA would let this…