Performance, by Design.
One sentence, two arguments. Engineered for performance — cost basis, Remington HMA, MAI valuation, geotech and ALTA governance. Designed for demand — GFRC façade, infinity edge, rooftop, and a plate sequence that earns the ADR.
The four pillars.
Scarcity, experience premium, brand alignment, and design as pricing power — the structural drivers of FIRA's institutional return profile.
Demand is not speculative. It is institutional.
FIRA is positioned within the Unbound Collection by Hyatt — a curated portfolio of independent hotels operating on a global distribution platform. The asset retains its identity while benefiting from institutional demand channels and a high-performing direct booking ecosystem.
Value drivers.
How each pillar translates into measurable yield, NOI expansion, and exit multiple.
Four mechanics that produce institutional-grade returns.
Hover or select to inspect the underlying metric and the underwriting logic for each driver.
140 keys in a market starved of luxury supply.
FIRA enters a sub-market with structural under-supply of true luxury inventory. The constrained key count protects ADR integrity and supports the underwriting of $600+ stabilized rates.
Site & context.
The McDowell Range setting and the R-4R PCD parcel — entry basis, embedded equity, and capital efficiency.
Entry advantage. Protected downside. Amplified upside.
The land was secured below current market basis, creating a structural cost advantage that flows directly into yield on cost and exit value.
Land → entitlement → vertical execution sequencing minimizes early capital exposure and preserves equity flexibility.
Land basis — interactive.
Stress-test the basis advantage against current market comparables.
A defensible basis is the first underwriting decision.
FIRA's land was secured at $6.6M ($47K/key) — well inside the institutional comp set. Adjust the basis to inspect the impact on yield on cost and development spread.