Hmm.. Don't you think 1m a room looks a bit aggressive. The comps you mention looked much more high end. I see the room price is about 200 per night (TripAdvisor says 132 actually) , 365 days, 80% occupancy and 30% margins (aleaady on the high side) ... That's only 17k per room. Using 1m per key, you imply a rate of like 1.7%. Even if you add services like restaurants etc also makes it too expensive valuation.