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In forecasting revenues and expenses for a lodging facility, progressive hotel appraisal firms use a fixed and variable compenent model.
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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.
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Devolping a new hotel or motel typically requires a feasibility study verifying market demand and proving the project is economically viable.
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Hotel overbuilding is a subject which has been frequently addressed by hotel and real estate professionals during the last few years.
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Most hotel/motel market studies and appraisals quantify the demand for transient accommodations using a factor known as a room night.
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Developing a new hotel or motel typically requires a feasibility study to verify market demand and to prove the project is economically viable.
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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.
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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.
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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.
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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.