Stephen Rushmore, Jr., MAI, FRICS

Consulting Experience

As President and CEO of HVS, the leading hospitality consulting and services organization with over 50 offices around the globe, Stephen is responsible for overseeing the long-term strategy and expansion.  Founded in 1980, HVS has provided consulting services and solutions for thousands of clients in all 50 states and more than 70 foreign countries for hotels, restaurants, mixed-use, shared ownership, and leisure assets.
 
Stephen is a state-certified appraiser and directly valued and/or consulted on hundreds of hotels around the world.  Additionally, he is a commercial real estate broker in New York and frequently lectures at major hotel schools and professional associations. Stephen earned his Bachelor of Science degree from the Cornell School for Hospitality Administration.
 
He is a member of the Young Presidents Organization (YPO) and is the Board of Directors Vice-Chair for the Appalachian Mountain Club (AMC), the nation’s oldest outdoor recreation and conservation organization.  In his free time, Stephen enjoys bicycling, golf, and as an instrument-rated pilot, enjoys flying small airplanes with his wife and family.

Employment History

2002 to present
HVS CONSULTING AND VALUATION SERVICES
Mineola, New York

2000 to 2002
Senior Engineer
Sapient
Boston, MA

1998 to 2000
Engineer
Lucent Technologies
Boston, MA

1996 to 1998
Asymmetrix
Boston, MA

Education

BS – School of Hotel Administration, Cornell University

Other Specialized Training Classes Completed:

Uniform Standards of Professional Appraisal Practice – 15 hours
Basic Appraisal Procedures – 30 hours
Basic Appraisal Principles – 30 hours
General Appraiser Income Approach – 60 hours
General Appraiser Market Analysis and HBU – 30 hours
General Appraiser Site Valuation and Cost Approach – 30 hours
General Appraiser Sales Comparison Approach – 30 hours
General Appraiser Report Writing and Case Studies – 30 hours
Statistics, Modeling and Finance – 15 hours
Business Practices and Ethics – 5 hours
Advanced Income – 30 hours
Advanced Concepts and Case Studies – 40 hours
Hotel Valuation and Transaction Trends – 2 hours
Hotel Valuation: Tools & Techniques for RE Professionals – 7 hours
Mortgage Fraud - Protect Yourself – 7 hours
Advanced Hotel Appraising – 7 hours
Basic Hotel Appraising – 7 hours
Witness to Expert Appraiser – 7 hours
Managing Appraiser Liability – 7 hours
The Appraiser as an Expert Witness: Preparation & Testimony – 15 hours
The Fundamentals of Appraising Luxury Homes – 4 hours
Biennial USPAP Updates

State Certification

New York

Affiliations

Appraisal Institute – Designated Member (MAI)
Counselors of Real Estate - CRE
Royal Institution of Chartered Surveyors - FRICS

Hotels Evaluated

Sample List for Illustrative Purposes

CALIFORNIA
Residence Inn by Marriott Sacramento, Rancho Cordova
Hotel del Coronado, Coronado
Hyatt Regency, La Jolla
 
COLORADO
DoubleTree, Aurora
Residence Inn by Marriott Denver North, Westminster
 
CONNECTICUT
Proposed Hotel, South, Norwalk
Homewood Studio Suites, Norwalk
Homewood Studio Suites, Shelton
Proposed SpringHill Suites, Vernon
 
DISTRICT OF COLUMBIA
Proposed Aloft
 
FLORIDA
Sheraton Yankee Clipper, Fort Lauderdale
 
ILLINOIS
Allerton Hotel, Chicago
James Hotel, Chicago
Marriott O’Hare, Chicago
Marriott Suites O’Hare, Rosemont
Proposed Element, Rosemont
 
KENTUCKY
Sleep Inn & Suites Airport, Louisville
 
LOUISIANA
Bentley Hotel, Alexandria
Alexander Fulton Hotel & Convention Center, Alexandria
Hilton Garden Inn French Quarter, New Orleans
Proposed Extended-Stay Hotel, Slidell
 
MARYLAND
Proposed Sonesta Hotel, Baltimore
Proposed Westin, Issue
 
MINNESOTA
Country Inn & Suites, Rochester
Fairfield Inn & Suites, Saint Cloud
 
MISSOURI
Elms Resort & Spa, Excelsior Spring
 
NEW JERSEY
Radisson, Carteret
Homestead Studio Suites Meadowlands, East Rutherford
Homestead Studio Suites Secaucus, Meadowlands
Crowne Plaza Clark, Newark
Homestead Studio Suites Hanover, Parsippany
Proposed Residence Inn by Marriott, Woodbridge
 
NEW YORK
Marriott Buffalo Niagara, Amherst
Extended Stay America Long Island, Bethpage
Proposed Hotel Buffalo Niagara Medical Campus, Buffalo
Proposed Limited-Service Hotel, Buffalo
Proposed Hampton Inn, Cheektowaga
Extended Stay America White Plains, Elmsford
Proposed LaGuardia Hotel, Flushing
Sheraton LaGuardia East, Flushing
Proposed Fairfield Inn & Suites, Ithaca
Proposed Home2 Suites by Hilton, Liverpool
Verve Hotel Ascend Collection, Long Island City
Extended Stay America Long Island, Melville
Crosby Street Hotel, New York
Ritz-Carlton New York Battery Park, New York
Ritz-Carlton Central Park, New York
Holiday Inn, Plainview
Hampton Inn & Suites Rochester, Victor
Proposed Limited-Service Hotel, Westbury
Proposed Hotel, Watertown
 
OHIO
Residence Inn by Marriott, Canton
Hilton Netherland Plaza, Cincinnati
Fairfield Inn by Marriott Ontario, Mansfield
Residence Inn by Marriott Youngstown Boardman, Poland
 
OKLAHOMA
Crowne Plaza, Tulsa
 
PENNSYLVANIA
Wingate, Mechanicsburg
Holiday Inn Select Bucks County, Trevose
Proposed Warner Hotel, West Chester
Proposed Hotel, Wilkes-Barre
 
TENNESSEE
Sleep Inn & Suites, Smyrna
Fairfield Inn & Suites Nashville, Smyrna
 
TEXAS
Fairfield Inn College Station, Bryan
SpringHill Suites by Marriott, Denton
Courtyard by Marriott, Lubbock
Fairfield Inn & Suites, Midland
 
INTERNATIONAL
 
France
Hotel du Louvre, Paris
 
Virgin Islands
Caneel Bay Resort, Saint John

Press Coverage

STR's Final 2020 U.S. Hotel Forecast Adjusted Slightly Upward , 2020
At NYU, STR and HVS look ahead to recover, 2020
Multi-year recovery along with new opportunities for travel and hospitality sector: HVS, 2020

Focus: Breaking Journey Information investigates: HVS anticipates multi-speed international restoration , 2020

Breaking Travel News investigates: HVS anticipates multi-speed global recovery , 2020
Resort fee wars: Booking platforms are taking on the controversial hotel practice in very different ways, 2019
Is the hotel market under siege? Execs point to political climate as “a big concern”, 2019
HVS is much stronger today with stronger and cohesive partners: Stephen Rushmore Jr., 2019

My Articles

HVS Shares Hotel Valuation Trends and Future of Hotel Deals

Travel Channel's Anthony Melchiorri and hotel industry expert and No Vacancy podcast host Glenn Haussman speak to our President & CEO, Stephen Rushmore, Jr. about some critical hotel investment related topics. Topics include valuation trends, marketplace opportunities, independent vs. branded hotel investments, how banks perceive the hotel business and more.

• September 16, 2020 By Stephen Rushmore, Jr.

• Hotel Investments & Ownership , Travel & Tourism , Economic Trends and Cycles , Hotels - Distressed , COVID-19 , United States , North America

HVS U.S. Hotel Franchise Fee Guide 2014

This publication provides the most detailed data on the costs of hotel brands in the U.S. This year’s new methodology utilizes real data for each brand to provide insight and analysis on the specific components which make up a franchise and its fees.

• October 15, 2014 By Stephen Rushmore, Jr. , Erin S. Bagley

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