The Great Hotel Debate Continues

Over the years, the proper procedure for separating the business and personal property values from a hotel�s total property value � leaving a value of pure real property � has been widely debated. The two approaches � the �Business Enterprise Approach� and the �Rushmore Approach� � are currently the two most utilized procedures. Both have their staunch supporters and critics. Because a pure real property value is essential for valuing hotels for property tax assessments and condemnations, employing the correct procedure is necessary for developing fair real property assessments.

The Appraisal Institute is bringing together the developers of both approaches, via Webinar, to debate the pros and cons of each procedure. David Lennhoff, MAI, will describe and defend the Business Enterprise Approach, and Steve Rushmore, MAI, will of course take the side of his Rushmore Approach.

These debates have occurred in the past and have always produced a lively and sometimes contentious discourse. Even if the topic is not of great interest to you, the entertainment factor of these two professionals battling it out warrants your attendance.

Hope to see you in cyberspace.

Steve Rushmore

MEET THE SPEAKERS

David C. Lennhoff, MAI, SRA, is president of PGH Consulting, LLC, Rockville, Maryland. His practice centers on litigation valuation and expert testimony relating to appraisal methodology, USPAP and allocating assets of a going concern. Register Now

Steve Rushmore, MAI, FRICS, CHA, president and founder of HVS, a global hospitality consulting organization, has provided consultation services for more than 15,000 hotels throughout the world during his 40-year career and specializes in complex issues involving hotel feasibility, valuations and financing. Register Now

Eddie Tantoco, CPA, vice president, property tax with Starwood Hotels has been a property tax practitioner for over 20 years and has practiced in the U.S., Canada and the Caribbean. Register Now 

Are you a member of the Appraisal Institute? If not, join today and start enjoying all the benefits membership can offer, including discounts on education. Questions? Call us at 888-7JOINAI.

The Appraisal Institute is a global membership association of professional real estate appraisers, with more than 25,000 members and 91 chapters throughout the world. Its mission is to advance professionalism and ethics, global standards, methodologies, and practices through the professional development of property economics worldwide. Organized in 1932, the Appraisal Institute advocates equal opportunity and nondiscrimination in the appraisal profession and conducts its activities in accordance with applicable federal, state and local laws. Members of the Appraisal Institute benefit from an array of professional education and advocacy programs, and may hold the prestigious MAI, SRPA and SRA designations.