The lodging buzzword of the 1990s must be asset management. Many hotel companies are offering it. Most hotel owners need it. But very few people really know what it is.
Recently. the trade press has been buzzing with articles addressing the topic of hotel feasibility studies and whether they accurately portray the future operating results of a proposed hotel.
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.