Receive FREE Weekly NewsletterConsulting & Valuation - New York - Overview
The HVS New York office was founded by Steve Rushmore in 1980 and is the firm's first and largest office. Rushmore literally "wrote the book" on hotel market studies and valuations, financing and ownership and his eight textbooks represent the industry standard. Drawing from Rushmore's 30-plus years of hotel consulting, appraisal and ownership experience, the professional staff offers a wide range of services.
HVS New York performs the following consulting & valuation services:
- Market & Feasibility Studies
- Highest & Best Use Analyses
- Appraisals
- Strategic Planning
- Management Contract Negotiations
- Franchise Negotiations
- Litigation Support & Expert Testimony
During the period 2008 to 2009, HVS New York retrained its staff and retooled its studies to handle the current downturn in the hotel industry. Over the past several years, when economic trends were showing continued upward growth, performing hotel market studies and valuations were relatively simple - establish a value and just extend the trend-line. Today, we are faced with a rising cost of capital, lack of sales data, massive illiquidity and declining REVPAR. Accurate hotel valuations require a complete understanding of all the different forces that impact the bottom line and investment criteria. Our office has years of experience handling these cycles, and can assist hotel owners and lenders in making tough decisions regarding repositioning, downsizing, restructuring, foreclosure and bankruptcy.
Highlights of how HVS can benefit you:
- Handling large portfolio assignments. With more than 20 hotel-trained consultants, we have completed packages of more than 70 hotels in 30 days.
- No part-timers or outside stringers handle large workloads, unlike other hotel consulting firms. As a result, our findings and conclusions are consistent, reports are uniform and assignments are completed on time.
- The Lodging Data Bank, a comprehensive database of thousands of sales transactions, actual financial statements, management contracts, leases and other important hotel information. Our ability to access the latest data on hotel operational and valuation trends gives HVS a competitive advantage in providing clients with consulting and appraisal services documented and supported by factual data.
- Hotel litigation disputes. Rushmore and our senior associates have qualified in more than 70 courts of law and given hundreds of depositions. Our litigation team thoroughly researches the issues, develops a convincing position and supports it with comprehensive data and personal experience.
