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.
Economic life is the period when improvements to a property contribute to property value. Hotels and motels have a definite life span of positive cash flow.
An allocation of a hotel's value between land, improvements and personal property is sometimes required to establish depreciable tax basis, property tax appeals, and for other similiar reasons occasioned by the sale or continuing operation of the pro
As more lodging properties run out of operating capital and are forclosed upon by their lenders, it becomes increasingly important for hotel buyers, sellers and lenders to understand the techniques utilized in valuing distressed facilities.
While working on a property tax appraisal for a 500-room downtown Sheraton hotel, we were confronted with a comparable sale which, on the surface, did not support our opinion that the subject property was overassessed.
In the October 1986 issue of The Apprasial Journal, Anthony Reynolds, MAI, wrote an article for the Notes and Comments section entitled "Attributing Hotel Income to Real Estate and to Personalty." His comment eessentially focused on an article that
With declining occupancies a problem in many areas of the country, along with increasing mortgage interest rates and inflation, it is a good time to review your property taxes and possibly commence a formal appeal to have them reduced.
The Franklin County Convention Facilities Authority retained HVS International to analyze the feasibility of developing additional full-service convention hotel capacity in downtown Columbus, in the immediate vicinity of the Greater Columbus Conventi
In a presentation at the 2001 Annual Conference of the Government Officer's Association, Tom Hazinski, Managing Director of HVS Convention, Sports & Entertainment Facilities Consulting describes and critically examines the theory and practice of meas
Hotel Investors and appraisers use a variety of techniques to value hotels.