Rodney G. Clough, MAI

Consulting Experience

As President - Americas, Rod oversees strategy execution for HVS throughout its 40 Americas locations. HVS is the nation's leading consulting firm that is laser focused on the hospitality sector. The firm provides expertise through every phase of ownership across a wide range of hospitality assets. We help clients succeed in the complex consulting arena, from feasibility studies to exit strategies and everything in between.

Rod’s tenure with HVS spans almost 25 years, and during this time he has played an important role growing the company from a few locations across the Americas to 40. He has done this primarily by fostering an extraordinary corporate culture built on a foundation of excellence, service, and appreciation. Rod is a Designated Member of the Appraisal Institute (MAI) and a state-certified general appraiser. His consulting experience encompasses all hotel property types and brand segments, including convention headquarters hotels, resorts, limited- and full-service hotels, and extended-stay hotels. In 2007, Rod coordinated the appraisals of nearly 200 properties associated with the $26-billion sale of Hilton Hotels to The Blackstone Group, an unprecedented transaction in the history of the international lodging industry and, to date, the largest assignment undertaken by the firm.

Follow Rod on Instagram: thehotelconsultant

Testimonials

"HVS can be very proud of Rod Clough, MAI and Mike Handy in the quality of the report and the extraordinary attention to customer service they provided to our institution. They were able to deliver the report early and were available to respond quickly to our requests for clarification. This was our first occasion to have engaged HVS, but we look forward to future opportunities to work with them again." – J. Denis Watts, Washington Federal

"I was particularly impressed with (1) Rod Clough and his HVS team's responsiveness and overall professionalism with respect to all our contact throughout the entire process, (2) the level of detailed reporting for the feasibility study, (3) his team's understanding of the market and our specific needs relative to this unique assignment, and (4) a willingness and open mind to make changes as appropriate to the final draft." – John Palmer, Redico Management

Education

Cornell University, School of Hotel Administration
Bachelor of Science

Rod has completed over 180 hours of basic level appraisal training to meet initial state certification requirements and over 200 hours of advanced education to meet all class requirements of the Appraisal Institute for its MAI designation. Beyond these initial requirements, Rod continues to take classes annually in appraisal standards, among other topics.

Appraisal Institute classes completed:
410 – Standards of Professional Practice Part A
420 – Standards of Professional Practice Part B
510 – Advanced Income Capitalization
520 – Highest and Best Use and Market Analysis
530 – Adv. Sales Comparison and Cost Approach
540 – Report Writing and Valuation Analysis
550 – Advanced Applications

Certified General Appraiser classes completed through the University of Colorado Continuing Education Department:
NCRE-200 Registered Appraiser,
NCRE-201 Basic Appraisal Applications
NCRE-203 Small Residential Income Properties
NCRE-208 Standards and Ethics
NCRE-211 Certified Residential
NCRE-215 Appraisal Principles and Advanced Applications
NCRE-216 Income Capitalization
NCRE-219 Commercial Case Studies

Other Specialized Training Classes Completed:
TALCB-ACE - Income Property Analysis – 2003
24-Hour Comprehensive Appraisal Workshop – 2002
Mandatory 8-Hour Broker Standards – 2001 Update
Anatomy of a Mortgage, URAR – 2005
USPAP Update – Annually
Solutions Approach – Appraisal Institute, 2006
Small Hotel/Motel Valuation – Appraisal Institute, 2008
Appraisal Curriculum Overview – 2011
Appraising and Analyzing Office Buildings for Mortgage Underwriting – 2011
Appraising Apartments: The Basics – 2011
Ad Valorem Tax Consultation – 2011
How To Analyze & Value Income Property – 2011
Risky Business: Ways to Minimize Your Liability – 2011
Florida Law Class – 2012
Fundamentals of Separating Real Property, Personal Property, and Intangible Business Assets – 2012
Pennsylvania Law Class – 2012
Appraising and Analyzing Industrial & Flex Buildings – 2012
Business Practices and Ethics – 2013
Supervising Trainees – 4 hours
Oddball Appraisals – 7 hours
FL Law Class – 3 hours
The Dirty Dozen – 3 hours
Cost Approach – 7 hours
The Nuts and Bolts of Green Building – 3 hours

Rod completes 15 - 20 hours of additional education annually, including National USPAP Update courses.

State Certification

Rod is a licensed, state certified appraiser. Rod and his staff hold state certifications in virtually all 50 states.

Please contact Michelle Guetterman at [email protected] for more specific information regarding licensing. Michelle handles all licensing questions for the HVS US platform outside of Florida. Michelle can also provide a PDF copy of any license upon request.

Press Coverage

Report: Spas Contribute Substantially to U.S. Hotel Revenues, 2020
Luxury hotel treatment rooms generate more than double the revenue, 2020
Lot Lines: Airbnb – sharing technology effect

My Articles

HVS Americas Values Equality and Stands in Solidarity with the Black Community

HVS Americas values equality and stands in solidarity with the Black community

• June 2, 2020 By Rodney G. Clough

• Travel & Tourism , North America

HVS Performance Report: Spa Department 2019

This report is the second annual performance report published by HVS that tracks and monitors spa department performance and profitability.

• December 18, 2019 By Rodney G. Clough , Mia A. Mackman

• Hotel Investments & Ownership , Hotel Operations , Valuations & Market Studies , Travel & Tourism , Resorts , United States , North America

2020 United States Hotel Industry Outlook

I recently polled our U.S.-based HVS senior consultants to predict the direction of the hotel industry for 2020. While nationwide occupancy is expected to decline slightly, with ADR increasing only minimally, the outlook for the transactions market remains favorable.

• December 18, 2019 By Rodney G. Clough

• Hotel Investments & Ownership , Development & Construction , Valuations & Market Studies , Travel & Tourism , Economic Trends and Cycles , United States , North America

Equity Yield Rates Shifting Higher As Interest Rates Decline and Discount Rates Remain Steady

In our most recent review, we found that equity yield rates, on average, have shown a continued trend of decline in the full-service and luxury hotels sector, as well as the lower-tier limited-service sector, with the select-service and upscale limited-service sector showing stability.

• November 19, 2019 By Katy Black , Rodney G. Clough

• Hotel Investments & Ownership , Valuations & Market Studies , Economic Trends and Cycles , United States , North America

Taking the Pulse of the Nation’s Largest Hotel Markets

HVS C&V leaders offer the pulse of their markets heading into the fall season. Out of 23 markets discussed, ten are rated as hot, nine are rated as mild, and the remaining four are rated as cooling.

• September 19, 2019 By Rodney G. Clough

• Development & Construction , Valuations & Market Studies , Travel & Tourism , Brokerage & Transactions , Economic Trends and Cycles , United States , North America

HVS 2019 Hotel Parking Survey

This report provides a look at what hotels are charging for parking across the U.S. and offers insights on parking garage operations. The survey will be updated annually.

• August 22, 2019 By Rodney G. Clough

Tap Our Research

HVS Americas publishes several research reports annually that can help you succeed in navigating the tricky waters of today’s hotel investment environment. This article summarizes our key publications.

• July 18, 2019 By Rodney G. Clough

Navigate the Pitfalls Motel Valuations – Part 2

In Part II of this article, I discuss the importance of diving into local market comparable sales when facing an independent motel valuation. Equally important is knowing the market’s prevalent RRM and sales price per key.

• June 20, 2019 By Rodney G. Clough

• Hotel Operations , Development & Construction , Valuations & Market Studies , Economic Trends and Cycles , Hotel Management , United States , North America

NYU Conference Takeaways: Cautious Optimism Turns to Caution

The 41st NYU International Hospitality Industry Investment Conference wrapped up on June 4, 2019, and the overall sentiment of the event was one of caution, a shift from a sentiment of cautious optimism at conferences earlier in the year.

• June 6, 2019 By Rodney G. Clough

• Hotel Operations , Development & Construction , Valuations & Market Studies , Brokerage & Transactions , Economic Trends and Cycles , United States , North America

Navigate the Pitfalls Motel Valuations – Part 1

In Part 1 of this series, I discuss the importance of deriving a proper revenue estimate for valuations of independent, budget motels and testing its reasonableness against the norms for the neighborhood and market.

• May 16, 2019 By Rodney G. Clough

• Hotel Operations , Development & Construction , Valuations & Market Studies , Travel & Tourism , Economic Trends and Cycles , United States , North America

Brands Performance Update

Major public hotel companies recently released their year-end 2018 performance data. Of the 61 brands that report RevPAR statistics, most enjoyed an extended period of high occupancy levels and modest rate growth in 2018.

• April 18, 2019 By Rodney G. Clough

HVS Market Pulse: Southeastern U.S. Hotel Markets Poised for Strong 2019

Overall, the pulse of each area within the Southeast region was positive, with some expecting some softening in occupancy this year, which mirrors our overall national sentiment. ADR growth should keep overall RevPAR change in the positive column.

• February 27, 2019 By Rodney G. Clough

• Development & Construction , Valuations & Market Studies , Travel & Tourism , Economic Trends and Cycles , United States , North America

Many Hotel Sellers Won Big in 2018

On average, hotel prices increased significantly in 2018, as a strong pool of buyers with favorable outlooks kept downward pressure on cap rates.

• January 16, 2019 By Rodney G. Clough

• Hotel Investments & Ownership , Sales & Marketing , Brokerage & Transactions , Economic Trends and Cycles , North America , United States

HVS Market Pulse: Oklahoma City Rising

Downtown Oklahoma City offers great lodging variety that allows a traveler to pick from the unique to the mainstream.

• December 20, 2018 By Rodney G. Clough

• Development & Construction , Travel & Tourism , North America , United States , Oklahoma , Oklahoma City

HVS Market Pulse: Baltimore Ascending

Baltimore has come a long way over the last 20 years, developing a tourism infrastructure and experience for leisure and convention visitors that is impressive.

• December 20, 2018 By Rodney G. Clough

• Development & Construction , Valuations & Market Studies , Travel & Tourism , Economic Trends and Cycles , North America , United States , Maryland , Baltimore