Preston K. Puleo, MAI

Consulting Experience

A regimen of regular hotel assignments in a particular region or market builds a level of hands-on hotel appraisal expertise you can rely on. Preston Puleo, MAI, a Vice President with the HVS hotel consulting and valuation office in Boston and a state certified general appraiser, works almost exclusively on hotel assignments in lodging markets throughout New England and the New York-New Jersey region. These assets range from boutiques to brand-name, full-service hotels, both existing and proposed. On each assignment, Preston’s penchant for official interviews, fieldwork, site inspection, data collection, and analysis translates every conceivable fact into confident advice on how to proceed with your hotel. Preston is a designated member of the Appraisal Institute.

Before joining HVS, Preston worked as an associate with a hotel asset management firm in Providence, Rhode Island. His prior hospitality experience also includes internships at resorts and country clubs in Georgia and North Carolina. Preston graduated with honors from Cornell University's School of Hotel Administration.

A member of Cornell’s varsity heavyweight rowing team from 2006 to 2010, Preston helped lead the crew through four winning (and two undefeated) seasons. He continues to practice rowing at Riverside Boat Club and compete at several different levels, including earning a medal at the 2015 and 2016 Head of the Charles Regatta.

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
Basic Appraisal Principles – 30 hours
Basic Appraisal Procedures – 30 hours
Basic Hotel Appraising - 7 hours
Business Practices and Ethics - 5 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

In addition, Preston completes annual USPAP update courses

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 Appraised

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
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
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
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
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
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
Hilton Garden Inn, Burlington
Hyatt House, Burlington
Marriott Boston Burlington, Burlington
Quality Inn, Chicopee
Cape Cod Resort, Hyannis
Super 8, Leominster
Hampton Inn, Norwood
Wesley Hotel, Oak Bluffs
Mirbeau Inn & Spa at the Pinehills, Plymouth
Proposed Holiday Inn Express, Springfield
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
AmeriHost Inn & Suites, DeWitt
Proposed Hotel East 1st 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
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
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
Country Inn & Suites, Ithaca
Econo Lodge, Ithaca
Best Western Kennedy Airport, Jamaica
Days Inn Jamaica JFK Airport, Jamaica
Holiday Inn Express JFK Airport, Jamaica
Best Western, Liverpool
Budget Inn, Massapequa
Proposed Holiday Inn Express, Peekskill
Comfort Inn, Rochester
Hyatt Regency, Rochester
Hilton Garden Inn Rochester Downtown, Rochester
Proposed Lake Ontario Place, Rochester
Claremont Hotel, Roslyn
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
Holiday Inn Express Rochester Webster, Webster
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
Proposed Holiday Inn Express, Providence
Proposed WoodSpring Suites Signature, Providence
Hampton Inn, Smithfield
Residence Inn by Marriott Providence Warwick, Warwick

TENNESSEE
Courtyard Nashville Brentwood, Brentwood
Courtyard Memphis East Park Avenue, Memphis

VERMONT
Colonial Motel and Spa, Brattleboro
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

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

Trends and Opportunities: New England Hotel Market

Over two centuries of transformation have made the region a major center in fields as diverse as aquaculture, education, finance, health care, insurance, high technology, and defense. This article looks at recent trends and prospects for New England.

• September 15, 2014 By Preston K. Puleo

In Focus: Buffalo, New York

Buffalo, New York’s “Second City” behind the Big Apple, has a diversity of industries at work to keep the area’s economy and hotel demand flowing. What parts of the region are undergoing the most change?

• August 4, 2014 By Preston K. Puleo , Patrick S. Bursey

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