Hotel Market Analysis and Valuation: International Issues and Software Applications

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Dear $subst('Recip.Fullname'):

Click Here to Order Textbook and Software (Hard Copy)

Click Here to Order Textbook and Software (PDF Copy)

We are proud to announce the publication of Hotel Market Analysis and Valuation: International Issues and Software Applications - an essential reference text for hotel owners, operators, lenders, investors and consultants eager to learn the latest techniques for performing hotel market studies and valuations. This book is not only a "how to" manual, but also includes four highly sophisticated HVS software models that actually perform the number crunching used in the analysis. The text is written from a global perspective, so the techniques and software are relevant to users throughout the world. The book is available in either hard copy or as a pdf download and can be ordered by clicking on the buttons below.

We have co-authored Hotel Market Analysis and Valuation: International Issues and Software Applications with Penn State University Professor John O'Neill, MAI, and gathered intelligence from our HVS partners around the world.

This is one of the first text books published by the Appraisal Institute that comes with a complete software package enabling you to take the analyses described in the book and apply it to real-world hotel consulting assignments. Today, HVS Hotel Valuation Software is the only non-proprietary computer software designed specifically to assist you with the preparation of hotel market studies, forecasts of income and expense, and valuations. The software provides sophisticated models for hospitality and appraisal professionals to forecast a hotel's occupancy, revenues and expenses and perform hotel valuations. The software included with this book will produce the same identical results as the software used by our HVS associates around the world. Additionally, this enhanced tabbed version of the software enables the user to change the calculations occurring within the programs which is useful when performing complex assignments.

The textbook and software incorporate a case study of a proposed hotel which demonstrates both the theory and actual techniques for performing a hotel market analysis and valuation. The case study calculations are set forth in detail so you can fully understands the logic and math behind the accompanied software. Following each step of the case study, the HVS Hotel Valuation Software is demonstrated with data imputed from the case study. By following the detailed software screenshots, you will have a full understanding of how the software actually works.

Divided into six chapters, the book leads the reader through the process of performing a hotel market analysis and valuation:

Chapter 1 provides an historic overview of the world-wide hotel industry with discussion of the various economic cycles and trends impacting hotel supply and demand;
Chapter 2 details the steps for performing a hotel market analysis and valuation and the types of data required to perform a proper analysis;
Chapter 3 reviews the first step of a hotel market analysis - identifying and quantifying the demand for hotel accommodations within the market. The procedure utilized to quantify hotel demand is the build-up approach based on lodging activity;
Chapter 4 describes the supply portion of the market analysis. Local competitive supply is identified and the relative competitiveness of each hotel in the market is quantified. The end result of the market analysis is a forecast of a hotel's occupancy and average room rate;
Chapter 5 takes the occupancy and average rate forecast and coverts it into a projection of income and expense using a fixed and variable forecasting model.
Chapter 6 encompasses the valuation portion of the study. The three approaches of value are described and the income approach is detailed using a discounted cash flow mortgage equity model.
The Addendum contains a complete reference library of hotel data and data sources from around the world.

The textbook and software incorporate a case study of a proposed hotel which demonstrates both the theory and actual techniques for performing a hotel market analysis and valuation. The case study calculations are set forth in detail so you can fully understands the logic and math behind the accompanied software. Following each step of the case study, the HVS Hotel Valuation Software is demonstrated with data imputed from the case study. By following the detailed software screenshots, you will have a full understanding of how the software actually works.

With the globalization of the hotel industry it is essential that hotel owners, operators, investors and lenders understand the differences and similarities in the process of performing hotel market studies and valuations around the world. This book provides the essential regional and financial tools needed to be a global participant in this important industry. We look forward to receiving your comments once you've read through and used the textbook and software.

Sincerely,

Steve Rushmore, Founder and Chairman

Stephen Rushmore, Jr., CEO and President