Week of April 20 to April 26
Don't Worry About Room Rates
Hoteliers may be able to do something about functional obsolescence. But external obsolescence - the social and economic context of a hotel - is beyond a hotelier's control.
During periods of economic stress in the hotel industry, smart owners and operators carefully review their hotel's property tax assessment to determine whether there is sufficient justification to seek a reduction.
One of the significant expense items incurred by a hotel is the property taxes paid to local municipalities.
THe valuation of hotels and motels is a highly specialized form of real estate appraisal, requiring not only a thorough understanding of the many principles and procedures of general appraising, but also an in-depth knowledge of hotel operations.
If your hotel's property tax assessment has not dropped in the last five years, you may be paying more than your share of real estate.
In this issue Steve Rushmore discusses his presentation given at the NYU Hotel Investment Conference.This presentation covered the latest valuation trends for the U.S. lodging industry.
Steve Rushmore gave a keynote address to over 1,500 lodging industry leaders attending the NYU Hospitality Investment Conference in New York City. The topic was “Valuation Trends for the U.S. Lodging Industry.”
Hotel Values in Europe - Current Trends