Preston K. Puleo, MAI

Consulting Experience

Testimonials

"HVS was very responsive with thorough proposals to a request for multiple feasibility studies in different markets. They executed their work timely and delivered a very high-quality product, thoroughly researched and documented. I would certainly recommend HVS!" – Gary W. Parkes, Parkes Companies

Education

BS – School of Hotel Administration, Cornell University

Other Specialized Training Classes Completed:

Advanced Concepts & Case Studies - 40 hours
Advanced Hotel Appraising - 7 hours
Advanced Income Capitalization - 40 hours
Advanced Market Analysis and Highest & Best Use - 35 hours
Appraisal Law Update - 3 hours
Appraisal of Owner-Occupied Commercial Properties - 7 hours
Appraiser as an Expert Witness: Preparation & Testimony - 15 hours
Basic Appraisal Principles – 30 hours
Basic Appraisal Procedures – 30 hours
Basic Hotel Appraising - 7 hours
Business Practices and Ethics - 5 hours
Eminent Domain and Condemnation - 7 hours
General Appraiser Income Approach – 60 hours
General Appraiser Market Analysis and Highest and Best Use - 30 hours
General Appraiser Report Writing and Case Studies - 30 hours
General Appraiser Sales Comparison Approach - 30 hours
General Appraiser Site Valuation and Cost Approach – 30 hours
General Demonstration Report Writing - 7 hours
Hotel Valuation and Transaction Trends - 2 hours
Real Estate Finance Statistics and Valuation Modeling - 15 hours
Statistics, Modeling and Finance – 15 hours
Quantitative Analysis – 35 hours
Advanced Highest and Best Use – 35 hours
General Demonstration Report Writing – 7 hours
MI Law Class – 2 hours
General Demonstration – Capstone
CT Law Update with Supervisor/Provisional Education – 3 hours
Basic Hotel Appraising-Limited Service – 7 hours
Advanced Hotel Appraisals-Full Service Hotels – 7 hours
Appraisal of Owner-Occupied Commercial Properties – 7 hours
General Demonstration – Capstone
CT Law Update with Supervisor/Provisional Education – 3 hours
Appraiser as an Expert Witness – 15 hours
Biennial USPAP Updates 

Employment History

2011 – Present
HVS
Boston, Massachusetts

2010 – 2011
HOTEL ASSET VALUE ENHANCEMENT
Providence, Rhode Island

2009-2010
CORNELL UNIVERSITY
Ithaca, New York

2009
CLUBCORP
Atlanta, Georgia

2008
PINEHURST RESORT & COUNTRY CLUB
Pinehurst, NC

2007
PINE NEEDLES LODGE & GOLF CLUB
Southern Pines, NC

Affiliations

Appraisal Institute – Designated Member (MAI)
Cornell Hotel Society - New England Chapter
Cornell Rowing Association

State Certification

Connecticut
Maine
Massachusetts
Michigan
New Hampshire
New York
Rhode Island
Vermont

Hotels Evaluated

Sample List for Illustrative Purposes

ALABAMA
Hampton Inn, Alexander City
Hampton Inn, Birmingham
 
ARKANSAS
Embassy Suites Northwest Arkansas Hotel Spa & Convention Center, Rogers
 
CALIFORNIA
Proposed Homewood Suites by Hilton, Redondo Beach
 
COLORADO
Silverleaf Suites, Eagle
 
CONNECTICUT
Residence Inn by Marriott Hartford Avon, Avon
Holiday Inn Express, Branford
Baymont Inn & Suites, East Windsor
Courtyard by Marriott, Farmington
Homewood Suites Farmington-Hartford, Farmington
Marriott Hartford Farmington, Farmington
J House Hotel Greenwich, Greenwich
Comfort Inn & Suites, Meriden
Quality Inn & Suites, Meriden
Fairfield Inn Conversion to Days Inn, Milford
Howard Johnson Inn, Mystic
Hyatt Place, Mystic
La Quinta Inn & Suites New Britain Farmington, New Britain
Premiere Hotel & Suites, New Haven
Holiday Inn Express, Newington
Holiday Inn, Norwich
Fairfield Inn & Suites by Marriott, Plainville
Residence Inn by Marriott, Rocky Hill
Hampton Inn, Shelton
Hilton Garden Inn, Shelton
Hyatt House, Shelton
Hilton & Executive Meeting Center, Stamford
Marriott, Stamford
Hyatt Place Mohegan Sun Uncasville, Uncasville
Motel 6, Vernon
Proposed SpringHill Suites by Marriott, Vernon
Homewood Suites by Hilton, Wallingford
Hampton Inn, Waterbury
The Delamar, West Hartford
Hampton Inn, West Haven
Comfort Inn & Suites, Wethersfield
Candlewood Suites Windsor Locks Bradley Airport, Windsor Locks
Econo Lodge, Windsor Locks
Homewood Suites by Hilton, Windsor Locks
Ramada Inn, Windsor Locks
 
DISTRICT OF COLUMBIA
Comfort Inn
 
FLORIDA
Residence Inn, Daytona
Candlewood Suites, Fort Myers
SpringHill Suites by Marriott, Gainesville
DoubleTree by Hilton Universal Orlando, Orlando
Econo Lodge, Orlando
Quality Inn & Suites, Orlando
Hilton Garden Inn Tampa Southeast, Riverview
Holiday Inn Express, Spring Hill
 
GEORGIA
Holiday Inn Express (Choice Suites Conversion), Atlanta
Proposed Hampton Inn, Augusta
Sheraton Gateway Hotel Atlanta Airport, Atlanta
Horizon Inn, Norcross
 
ILLINOIS
Proposed Home2 Suites by Hilton, Chicago
Proposed Westin, Chicago
Embassy Suites East Peoria Hotel & Riverfront Conference Center, East Peoria
 
INDIANA
Holiday Inn Express, Brownsburg
Relax Inn, Fort Wayne
Holiday Inn Express, Kokomo
Proposed Hampton Inn, Michigan City
Motel 6, Mishawaka
Best Western, Portage
Baymont Inn, Plainfield
 
KENTUCKY
Holiday Inn Express, Lexington
Motel 6, Louisville
Sleep Inn, Owensboro
 
MAINE
Hilton Garden Inn Auburn Riverwatch, Auburn
Proposed Homewood Suites by Hilton, Augusta
Hampton Inn, Freeport
Proposed Hampton Inn, Kennebunk
Proposed Hotel, Oxford
Proposed Hotel, South Portland
Hampton Inn, Waterville
 
MARYLAND
Comfort Suites, Chestertown
Comfort Suites Elkridge
Quality Inn/Econo Lodge, Takoma Park
Harrison House Country Inn, Tilghman Island
 
MASSACHUSETTS
Hampton Inn by Hilton, Amesbury
Proposed Hampton Inn, Amesbury
Courtyard by Marriott, Andover
DoubleTree by Hilton Bedford Glen, Bedford
Homewood Suites Billerica-Boston, Billerica
Embassy Suites Boston @ Logan Airport, Boston
Hampton Inn, Boston
Hilton Boston Logan Airport, Boston
Homewood Suites by Hilton, Boston
Proposed Limited-Service Hotel, Boston
Westin Boston Waterfront, Boston
Motel 6 Braintree/Boston, Braintree
Hilton Garden Inn, Burlington
Hyatt House, Burlington
Marriott Boston Burlington, Burlington
Proposed Holiday Inn Express, Chelmsford
Radisson Hotel & Suites, Chelmsford
Motel 6, Chicopee
Quality Inn, Chicopee
Motel 6 Boston Danvers, Danvers
Motel 6, Framingham
Fairfield Inn & Suites Lenox Great Barrington, Great Barrington
Cape Cod Resort, Hyannis
Motel 6, Leominster
Super 8, Leominster
Fairfield Inn & Suites Boston Milford, Milford
The Beachside at Nantucket, Nantucket
Hotel Indigo Boston Newton Riverside, Newton
Hampton Inn, Norwood
Wesley Hotel, Oak Bluffs
Hampton Inn Boston Peabody, Peabody
Homewood Suites by Hilton Boston Peabody, Peabody
Mirbeau Inn & Spa at the Pinehills, Plymouth
Motel 6 Seekonk Inn, Seekonk
Proposed Holiday Inn Express, Springfield
Motel 6 Tewksbury/Boston, Tewksbury
Proposed Home2 Suites by Hilton, Watertown
Courtyard by Marriott Boston Westborough, Westborough
Hotel Worchester (former Hampton Inn), Worchester
 
MICHIGAN
Holiday Inn Express Hotel & Suites Ann Arbor West, Ann Arbor
Comfort Suites, Auburn Hills
Hilton Garden Inn, Detroit
Proposed Boutique Hotel, Detroit
Proposed Staybridge Suites, Detroit
AmeriHost Inn & Suites, DeWitt
Proposed Hotel East 1^st Street, Flint
Proposed Hotel Saginaw Street, Flint
Proposed Grosse Pointe Hotel, Grosse Pointe
Holiday Inn Kalamazoo West, Kalamazoo
Hampton Inn, Lenox
Redwood Inn, Lewiston
Ramada, Ludington
Hawthorn Suites, North Chelmsford
Comfort Suites, Southgate
Holiday Inn, Southgate
Surfari Joe’s Conversion (inspection only), Watervliet
 
MINNESOTA
Proposed Home2 Suites, Bloomington
Proposed Select-Service Hotel, Minneapolis
 
NEW HAMPSHIRE
Proposed Comfort Inn, Berlin
Rodeway Inn, Claremont
Proposed Hotel, Hampton
Proposed Lilac Center at Granite Hills, Hooksett
Proposed WoodSpring Suites, Hooksett
Eastgate Inn, Littleton
Fairfield Inn Conversion to Red Roof Inn, Manchester
Super 8, Manchester
Residence Inn by Marriott, Merrimack
 
NEW JERSEY
Marriott, Bridgewater
Comfort Suites, East Brunswick
Red Roof Inn, Edison
Hotel Park East, Elizabeth
Ramada, Flemington
Days Inn, Iselin
Proposed Granite Woods Hotel, Merrimack
Hilton Garden Inn, Ridgefield Park
La Quinta Inn & Suites, Somerset
Hampton Inn Cherry Hill Voorhees, Voorhees
Hilton, Woodbridge
 
NEW YORK
Holiday Inn, Albany
Marriott, Albany
Motel 6, Albany
Motel 6 Amherst Buffalo, Amherst
Summerfield Suites, Amherst
Proposed Hampton Inn, Amherst
Fairfield Inn & Suites by Marriott New York Brooklyn, Brooklyn
Hotel Bliss, Brooklyn
Kings Motel, Brooklyn
Proposed Hotel, Brooklyn
Proposed TownePlace Suites by Marriott, Brooklyn
Sleep Inn, Brooklyn
Tru by Hilton, Camillus
Holiday Inn Buffalo Airport, Cheektowaga
Red Roof Inn, Clifton Park
Marriott LaGuardia Airport, East Elmhurst
Motel 6 Syracuse, East Syracuse
Hyatt House Fishkill, Fishkill
Country Inn & Suites, Ithaca
Econo Lodge, Ithaca
Proposed Hotel, Ithaca
Best Western Kennedy Airport, Jamaica
Crowne Plaza JFK Airport New York City, Jamaica
Days Inn Jamaica JFK Airport, Jamaica
Holiday Inn Express JFK Airport, Jamaica
Proposed Marriott and Residence Inn by Marriott, Jamaica
Best Western, Liverpool
Budget Inn, Massapequa
MOXY Hotel Times Square, New York
Renaissance New York Midtown Hotel, New York
Proposed Holiday Inn Express, Peekskill
Wyndham Garden LaGuardia South, Rego Park
Comfort Inn, Rochester
Homewood Suites by Hilton Rochester Henrietta, Rochester
Hilton Garden Inn Rochester Downtown, Rochester
Hyatt Regency, Rochester
Hilton Garden Inn Rochester Downtown, Rochester
Motel 6 Rochester Airport, Rochester
Proposed Lake Ontario Place, Rochester
Claremont Hotel, Roslyn
Courtyard by Marriott, Rye
Proposed Saranac Lake Resort, Saranac
Proposed Homewood Suites by Hilton, Saratoga Springs
Comfort Inn, Staten Island
Holiday Inn Express, Staten Island
Proposed Holiday Inn, Staten Island
Proposed Limited-Service Hotel, Staten Island
Best Western, Syracuse
Proposed Hotel, Tupper Lake
Proposed Hotel, Valhalla
Del Lago Resort & Casino, Waterloo
Holiday Inn Express Rochester Webster, Webster
Thayer Hotel, West Point
Motel 6 Buffalo Airport Williamsville, Williamsville
Hampton Inn & Suites, Yonkers
Tuckahoe Motor Inn, Yonkers
 
NORTH CAROLINA
Red Roof Inn, Greensboro
Super 8 (Conversion to Hawthorn Suites), Kinston
Hampton Inn Fort Bragg, Spring Lake
Hilton Garden Inn Winston-Salem Hanes Mall, Winston-Salem
 
OHIO
Hilton Garden Inn, Cleveland
All American Inn & Suites, Norwalk
Best Western, Norwalk
 
PENNSYLVANIA
Homewood Suites by Hilton, Canonsburg
Proposed Candlewood Suites, Harrisburg
Hampton Inn & Suites, Homestead
Hampton Inn & Suites, Washington
 
RHODE ISLAND
Holiday Inn Allentown, Breinigsville
Proposed Holiday Inn Express, Providence
Proposed WoodSpring Suites Signature, Providence
Hampton Inn, Smithfield
Biltmore, Providence
Proposed Holiday Inn Express, Providence
Residence Inn by Marriott Providence Warwick, Warwick
 
RHODE ISLAND
Marriott Providence Downtown, Providence
La Quinta Inn & Suites Warwick Providence Airport, Warwick
SpringHill Suites Providence, West Warwick
 
TENNESSEE
Courtyard Nashville Brentwood, Brentwood
Courtyard Memphis East Park Avenue, Memphis
 
TEXAS
Candlewood Suites, Texarkana
 
VERMONT
Colonial Motel and Spa, Brattleboro
DoubleTree by Hilton Burlington, South Burlington
Super 8, Brattleboro
La Quinta Inn & Suites, South Burlington
Proposed Hampton Inn, St. Albans
 
VIRGINIA
Quality Inn, Christiansburg
Days Inn, Petersburg
Courtyard by Marriott North, Virginia Beach
Courtyard by Marriott South, Virginia Beach
 
WEST VIRGINIA
Proposed Holiday Inn Express, Cross Lanes
Quality Inn, Morgantown

My Articles

HVS Market Pulse: Boston, MA

Boston continues to strengthen on several fronts. The entrance of new lodging supply has been back in full force in recent years. This article highlights some of the major commercial and hotel developments occurring throughout Boston.

• November 20, 2018 By Brian F. Bisema , Preston K. Puleo

Culinary Institute of America

The Culinary Institute of America (CIA) is currently accepting proposals for the development of a parcel of property owned by the college that overlooks the majestic Hudson River in historic Hyde Park, NY.

• August 8, 2018 By Steve Rushmore , Preston K. Puleo

• Hotel Investments & Ownership , Development & Construction

Access HVS Boston Key Takeaways

Access HVS Networking Event in Cambridge reveals strengths and challenges for New England markets.

• April 18, 2016 By Erich Baum , Brian F. Bisema , Preston K. Puleo

• Lending , Development & Construction , Valuations & Market Studies , Travel & Tourism , Economic Trends and Cycles

In Focus: Boston, MA

Commercial, leisure, and meeting and group demand has risen in the Boston market over the past two years, resulting in near-record occupancy levels for hotels. Though new supply is set to arrive over the next 2 years, demand is expected to hold pace.

• December 1, 2015 By Preston K. Puleo , Brian F. Bisema

Three Key Takeaways | 2015 HELP - Hotel Equity & Lender Perspectives Conference

Hotel experts and stakeholders convened in Boston to present positive trends in U.S. hotel lending, development, performance, and values. For Boston-area hoteliers, the potential impacts of a 2024 Olympics bid took center stage.

• May 4, 2015 By Anne R. Lloyd-Jones , Brian F. Bisema , Preston K. Puleo

• Travel & Tourism , Convention, Sports, Entertainment , Economic Trends and Cycles , Hotel Brands

Market Intelligence Report 2013 Boston

Biotechnology and cutting-edge health care have helped fortify Boston’s economic foundation over the past several years, putting unemployment well below national levels. With demand keeping pace with new supply, hotel values are projected to rise.

• August 12, 2013 By Preston K. Puleo

• Economic Trends and Cycles

Market Intelligence Report 2013: Detroit

Greater Detroit is bridging a recovering automotive industry with investments in competitive emerging technologies and hospitals. These and other efforts at economic recovery will prove crucial for Detroit’s hotel industry in the coming years.

• May 28, 2013 By Preston K. Puleo

• Valuations & Market Studies , Economic Trends and Cycles

Boston’s Waterfront District: Harboring Potential for Hotels

Boston’s burgeoning Waterfront District has been part of a rising tide of demand for local hotels, and expansion of the city’s convention market has created a need for thousands of additional rooms.

• April 30, 2012 By Preston K. Puleo , Brian F. Bisema

• Hotel Investments & Ownership , Hotel Operations , Valuations & Market Studies , Economic Trends and Cycles