In forecasting revenues and expenses for a lodging facility, progressive hotel appraisal firms use a fixed and variable compenent model.
Hotel, motel and resort feasibility studies are used for many different purposes. Most studies assist in defining markets and justifying the demand for proposed projects.
Devolping a new hotel or motel typically requires a feasibility study verifying market demand and proving the project is economically viable.
Hotel overbuilding is a subject which has been frequently addressed by hotel and real estate professionals during the last few years.
Most hotel/motel market studies and appraisals quantify the demand for transient accommodations using a factor known as a room night.
Developing a new hotel or motel typically requires a feasibility study to verify market demand and to prove the project is economically viable.
Economic life is the period when improvements to a property contribute to property value. Hotels and motels have a definite life span of postive cash flow.
Although you think you have audited and reviewed every aspect of your hotel's operations, i bet you have not performed a solid waste audit.
Hotel appraisals and market studies generally come with their own language. This month's column will be devoted to defining some of those often used and sometimes misunderstood expressions.
Today's hotel market is in a state of chaos. The overbuilding of the 1980s coupled with the recession of the 1990s has sent hotel occupancies in many parts of the country plummeting.