Luigi Major, MAI

Consulting Experience

Luigi Major, MAI has worked on appraisal and consulting assignments for more than 1,000 hotels and resorts throughout the U.S., Latin America, and the Caribbean, including work on several large-scale, international hotel portfolios and mixed-use developments. His work has helped build hotels, secure loans for hotel renovations and transactions, and guide plans for a wide variety of hotel ventures. His conclusions have held up under scrutiny, and many of his recommendations have come to fruition, attesting to Luigi’s standards for objectivity, organization, and analysis. His passion for the business of hotels speaks for itself, and you can rest assured that this complement of qualities will deliver the most comprehensive, insightful, and well-supported assistance on your next acquisition and development venture.

Luigi graduated from the University of Houston’s Conrad N. Hilton College of Hotel and Restaurant Management. He joined the HVS Dallas office in 2007 and also worked jointly with the HVS Mexico City office for a couple of years before transitioning to the HVS Houston office in 2012. In addition, Luigi has authored multiple articles on performance trends and dynamics of hotel markets. Luigi focuses on debt and equity financing for hotels. He is a Designated Member (MAI) of the Appraisal Institute.

In his free time, Luigi enjoys practicing yoga, CrossFit, and meditation, as well as learning French; he also loves to read. Living in Venezuela as a child left Luigi with an appreciation of Latin culture (as well as an undying accent), and travel continues to fulfill his desire to learn about new places and meet new people.

Employment History

2007 – Present
HVS CONSULTING AND VALUATION SERVICES
Houston, Texas

2003 – 2006
CLUBCORP - THE DOWNTOWN CLUB
Houston, Texas

Education

UNIVERSITY OF HOUSTON
Bachelor of Science - Hotel & Restaurant Management
Magna Cum Laude

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 Sales Comparison Approach – 30 hours
General Appraiser Market Analysis and HBU – 30 hours
General Appraiser Site Valuation and Cost Approach – 30 hours
General Appraiser Report Writing and Case Studies – 30 hours
Business Practices and Ethics – 7 hours
Statistics, Modeling and Finance – 15 hours
Advanced Income Capitalization – 40 hours
Advanced Sales Comparison & Cost Approach – 40 hours
Report Writing and Valuation Analysis – 40 hours
Advanced Applications – 40 hours
Fundamentals of Separating Real, Personal Property, and Intangible Business Assets – 15 hours
General Demonstration Report Writing
The Appraiser as an Expert Witness: Preparation and Testimony – 16 hours
FL Appraisal Laws and Regulations – 3 hours
Mortgage Fraud – Protect Yourself – 7 hours
USPAP Update – 2009, 2012, 2014

State Certification

Florida
Louisiana
Texas

Affiliations

Appraisal Institute – Designated Member (MAI)

Hotels Appraised

PORTFOLIO ANALYSIS
Portfolio of 6 Embassy Suites Hotels, Various Locations
Portfolio of 5 Proposed Hotels, Colombia
Ladder Capital Portfolio of 6 Hotels, Colorado and Texas
Ladder Capital Package of 4 Hotels, Texas
Portfolio of 8 Embassy Suites Hotels, Various Locations

ALABAMA
Hampton Inn, Birmingham
City Lodge, Florence
Hampton Inn, Pell City


ARIZONA
Courtyard Phoenix Airport, Phoenix
Residence Inn by Marriott at Mayo Clinic, Phoenix
Proposed Holiday Inn, Scottsdale
Aloft, Tempe
Proposed Residence Inn, Tempe


CALIFORNIA
Proposed Boutique Hotel, Copper Canyon
Proposed Boutique Hotel, Diablo Grande
La Quinta Inn & Suites, Fresno
DoubleTree by Hilton Golf Resort, San Diego
Hampton Inn, West Covina


COLORADO
Hyatt Summerfield Suites, Broomfield
Best Western Academy Hotel, Colorado Springs


DISTRICT OF COLUMBIA
Georgetown Suites Land Valuation


FLORIDA
Mayfair Hotel & Spa, Coconut Grove
Four Points, Ft. Walton Beach
Proposed Courtyard, Jacksonville
Wyndham Riverwalk, Jacksonville
Proposed Holiday Inn & Suites, Miami
Proposed Hotel, Miami
Proposed Le Meridien, Miami
Proposed Hilton, Miami Beach
Proposed Hotel, St. Augustine
Hampton Inn, Tallahassee


GEORGIA
Courtyard by Marriott, Atlanta
Country Inn & Suites, Hiram


HAWAII
Sheraton Keauhou Bay Resort & Spa, Kailua


ILLINOIS
SpringHill Suites by Marriott, Burr Ridge
SpringHill Suites by Marriott, Elmhurst


KANSAS
Crowne Plaza Kansas City Overland Park, Lenexa


LOUISIANA
Hotel Acadiana, Lafayette
Proposed Candlewood Suites, Leesville
Astor Crowne Plaza, New Orleans
Hilton Garden Inn French Quarter, New Orleans
Hyatt Regency, New Orleans
Wyndham Chateau Bourbon, New Orleans


MARYLAND
Sheraton Washington North, Beltsville
Proposed Hotel Sorella, Rockville


MINNESOTA
Westin, Minneapolis


MISSISSIPPI
Proposed SpringHill Suites, Biloxi
South Beach Biloxi Hotel, Biloxi
Hampton Inn, Brookhaven


MISSOURI
Hilton Kansas City Airport, Kansas City


MONTANA
Proposed Best Western, Shelby


NEW MEXICO
Proposed Downtown Hotel, Albuquerque
Inn at Loretto, Santa Fe
Proposed Boutique Hotel, Santa Fe


NEW YORK
Marriott, Buffalo
Proposed Hampton Inn, Dewitt
Residence Inn, White Plains


NORTH CAROLINA
Courtyard by Marriott, Raleigh


OHIO
Proposed Hilton, Chippewa Lake
Proposed Holiday Inn & Conference Center, West Chester


OKLAHOMA
Hilton Skirvin, Oklahoma City


OREGON
Hilton, Eugene


TENNESSEE
Proposed Select-Service Hotel, Knoxville


TEXAS
Proposed Hotel Granduca, Austin
Proposed SpringHill Suites, Baytown
Fairfield Inn & Suites Houston Conroe, Conroe
Comfort Suites Calallen, Corpus Christi
Holiday Inn Express, Corpus Christi
Staybridge Suites, Corpus Christi
Proposed Hotel, Edinburg
Proposed Artisan Hotel Conversion, El Paso
Proposed Hilton Garden Inn, Frisco
Courtyard by Marriott, Galveston
Proposed Courtyard by Marriott, Galveston
Proposed TownePlace Suites, Galveston
TownePlace Suites by Marriott, Galveston
Proposed Hotel, Georgetown
Crowne Plaza, Houston
DoubleTree IAH, Houston
Hampton Inn & Suites Houston Medical Center, Houston
Hilton Garden Inn Houston Northwest, Houston
Holiday Inn Westchase, Houston
Hotel Icon, Houston
Hyatt Regency, Houston
Magnolia Hotel, Houston
Proposed Hampton Inn/Homewood Suites Downtown, Houston
Proposed Hyatt Place, Houston
Proposed JW Marriott, Houston
Proposed Lifestyle Hotel, Houston
Proposed Marriott Marquis, Houston
Proposed SpringHill Suites, Houston
Sheraton Houston North, Houston
Sheraton Houston West, Houston
Staybridge Suites, Houston
Westin Galleria, Houston
Westin Oaks, Houston
South Shore Harbour Resort & Spa, League City
Proposed Westin, McKinney
La Toretta del Lago Resort & Spa, Montgomery
Hilton San Antonio Airport, San Antonio
Marriott Plaza, San Antonio
Marriott Hotel and Conference Center, Sugar Land


WASHINGTON
Holiday Inn Express, Marysville
Holiday Inn Express, Sumner


INTERNATIONAL

COLOMBIA
Proposed Hyatt Place, Bogota
Proposed City Express Hotel, Cartagena
Proposed Luxe Resort by The Charlee, Guatape
Proposed City Express Hotel, Medellín
Proposed Marriott, Medellín
Proposed Palmanova Hotel, Medellín
Proposed Hotel, Rionegro


COSTA RICA
Proposed Select-Service, San Jose
Proposed Andaz, Guanacaste
Proposed Boutique Resort, Guanacaste
Proposed Paradisus Papagayo Bay Resort & Luxury Villas, Guanacaste
Proposed Resort, Guanacaste
Proposed Extended-Stay, San Jose
Proposed Hyatt Place Pinares, San Jose
Proposed Limited-Service, Liberia
Marriott Los Suenos, Playa Herradura
Marriott Costa Rica, San Jose
Proposed Hyatt Place, San Jose
Proposed Lifestyle Hotel & Club, San Jose
Proposed Boutique Resort, Guanacaste
Proposed Luxury Hotel, San Jose


DOMINICAN REPUBLIC
Proposed Boutique Resort, El Seibo
Proposed Four Seasons, El Seibo
Proposed Luxury Hotel, El Seibo


EL SALVADOR
Proposed Select-Service Hotel, San Salvador


GUATEMALA
Proposed Four Seasons, Antigua
Proposed Resort at La Reunion, Antigua


MEXICO
Fairmont Acapulco Princess, Acapulco
Fairmont Pierre Marques, Acapulco
Proposed Hotel, Acapulco
Bacalar Land Parcels, Bacalar
Proposed Bacalar Hotel, Bacalar
Cabo de Cortes Fairmont/Raffles Development, Cabo San Lucas
Cabo San Cristobal, Cabo San Lucas
Proposed Luxury Hotel & Villa Project, Campeche
Proposed Master-Planned Development (2), Campeche
Dreams Resort, Cancun
Elan Resort & Spa, Cancun
El Pueblito, Cancun
Fiesta Americana Condesa Cancun, Cancun
Le Meridien, Cancun
Westin Soberano, Chihuahua
Proposed Quinta Real Hotel Development, Culiacán
Proposed Banyan Tree, Ensenada
Proposed Boutique Hotel Project, Guadalajara
Proposed Fiesta Inn del Tapatio, Guadalajara
Proposed Hotel Project, Guadalajara
Proposed Mixed-Use Development, Guadalajara
Proposed Vi Hotel, Guadalajara
Hotel Condesa, Leon, Guanajuato
Tesoro, Ixtapa
Proposed Hotel & Residential Development, Ixtapan de la Sal
Proposed Park Hyatt, Kanai
Proposed St. Regis, Kanai
Proposed W Hotel, Kanai
Desire Resort, Los Cabos
Esperanza Resort, Los Cabos
Proposed Thompson Hotel, Los Veneros
Tesoro Manzanillo, Manzanillo
Embassy Suites, Mexico City
Proposed City Express Hotel, Mexico City
Proposed Limited-Service Hotel, Mexico City
Proposed Hotel & Condo, Monterrey
Proposed Hotel, Monterrey
Proposed Limited-Service Hotel, Playa del Carmen
Proposed Resort, Playa del Carmen
Ceiba del Mar, Puerto Morelos
Paraiso de la Bonita, Puerto Morelos
Proposed Puerto Telchac Hotel & Residential Project, Puerto Progreso
Presidente InterContinental, Puerto Vallarta
Proposed City Express Hotel, Queretaro
Proposed Capella Punta Maroma, River Maya
Proposed Grand Hyatt, Riviera Maya
El Dorado Ranch Hotel & Excess Land, San Felipe
Proposed Hotel, San Miguel de Allende
Prposed Quinta Real Hotel & Residential, San Miguel de Allende
Dreams Resort, Tulum
Secrets Capri Resort, Tulum


PANAMA
Proposed Boutique Hotel, Panama City
Proposed Full-Service Hotel, Panama City
Proposed Limited-Service Hotel, Panama City


PERU
Proposed Hyatt Place, Lima


PUERTO RICO
Hilton, Caribe
Courtyard by Marriott (Expansion), San Juan


SAINT LUCIA
Proposed Master Planned Development


SPAIN
Villaitana Wellness Golf & Business Sun Resort, Benidorm

My Articles

Top 6 Hotel Success Factors

In this article, Luigi shares what he believes to be some of the most important factors that must be considered in the acquisition or development of a hotel, which ultimately lead to a property’s financeability, profitability, and long-term success.

• August 28, 2017 By Luigi Major

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

In Focus: Houston, TX

Thanks to energy-driven demand, Houston achieved record occupancy levels in 2014. The recent fall of oil and gas prices and more than 5,000 new rooms on the horizon poses a challenge to market-wide occupancy, though average rates continue to climb.

• February 25, 2016 By Luigi Major

Four Key Takeaways | Meet the Money 2015

Hoteliers and financiers met in Los Angeles to discuss the pitfalls and possibilities for U.S. hotel investment as the industry continues its upturn in performance.

• May 18, 2015 By Susan Furbay , Li Chen , Luigi Major

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

In Focus: Houston, Texas

A booming economy, along with record growth in population and jobs, is bringing about the best lodging market performance in Houston’s history. Can hoteliers count on this growth to last?

• July 31, 2014 By Luigi Major , Yimei Tang

Effects of Major Renovations on Hotel Market Penetration and Net Present Value

In this article, we seek to understand and quantify, through analysis, the impact of a major renovation on a hotel’s occupancy and rate penetration and, ultimately, the effect on income and net present value.

• February 27, 2014 By Luigi Major

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

Market Intelligence Report 2013: Houston

With demand driven by energy, health care, and shipping, Houston’s hotel market reached historically high occupancy and average rate in 2013. The following article tracks trends in hotel supply, demand, and performance across the city’s submarkets.

• June 10, 2013 By Luigi Major

• Valuations & Market Studies , Economic Trends and Cycles

HVS Market Intelligence Report: Houston Hotels in 2012

Energy prices, strong for the past several years and rising in 2012, have driven impressive growth in jobs, commercial space, and other developments in Houston. This growth and major planned projects continue to pump hotel demand into the city.

• April 4, 2012 By Luigi Major

• Valuations & Market Studies

HVS Report: Foreign Direct Investment, Commercial Real Estate, and Hotel Development in Mexico City

Mexico City is one of the most densely populated and developed urban areas in the world. How will rising foreign direct investment amplify the dynamics of the city’s office and lodging markets in the wake of the recent recession?

• February 23, 2011 By Luigi Major , Raul Duarte , Richard J. Katzman

• Valuations & Market Studies , Economic Trends and Cycles

San Miguel de Allende - A Beacon for the Tourism Potential of Colonial Towns and Villages

The dynamics of San Miguel de Allende’s lodging and tourism market illustrate opportunities for growth for lesser-known towns rich in history, architecture, and culture.

• January 23, 2009 By Luigi Major

• Valuations & Market Studies , Economic Trends and Cycles

Mexico's Growing Trend: Master-Planned Resort-Residential Communities

Mexico’s tourism industry has been at the forefront of international lodging trends, and the country is once again reinventing its coastlines and interior colonial towns with the proliferation of master-planned resort-residential communities.

• November 7, 2008 By Luigi Major

• Sales & Marketing , Development & Construction , Valuations & Market Studies , Economic Trends and Cycles

Guadalajara — Preparing for the Future

The popularity of Guadalajara has surged in recent years, attracting new businesses, residents, and developments that are positioning the city as a world-class business and travel destination.

• May 16, 2008 By Luigi Major

• Lending , Hotel Operations , Sales & Marketing , Valuations & Market Studies , Economic Trends and Cycles

HVS Market Intelligence Report: San Juan, Puerto Rico

New developments are making the “Walled City” more welcoming than ever, while limited supply allows occupancies to remain strong and average rates to increase tremendously.

• November 26, 2007 By Luigi Major

• Lending , Valuations & Market Studies , Economic Trends and Cycles

HVS Market Intelligence Report: Liberia, Costa Rica

With a bevy of new hotel developments and a promise to expand its international airport, Liberia has set its sights on Costa Rica’s burgeoning tourism.

• September 21, 2007 By Luigi Major

• Lending , Valuations & Market Studies , Economic Trends and Cycles