No form of commercial real estate is more complex than a hotel. In addition to being a “bricks and mortar” asset, a hotel is an operating business with space that must be re-let, operated and managed every day, 365 days a year.
It is this “business within a business” aspect that makes determining the value of hotels a complex and exacting process. The factors in influencing the hotel’s worth run the gamut from its geographic location to the efficiency of its laundry operations.
A hospitality appraiser not only must know how to accurately assess a property’s physical qualities, but its operating value/potential as well. A hotel’s financial viability is as much a function of it operating potential in a specific market as it is a function of the land, structure, economic and amenities. When you add a rapidly changing economic climate to the assessment formula, determining accurate hotel real estate valuations becomes one of the foremost challenges facing hospitality investors.
Hospitality Appraisals, Inc. was established to bring the separate discipline of the hotel operating experience to the hotel real estate appraisal field. Company founder, Robert W. White, a 30 year hotel industry veteran, brings an extensive background in all aspects of hotel operations and real estate, including senior management positions with many of the leading national chains as well as a national brokerage firm.
The merger of operations and appraisal/consulting experience is Hospitality Appraisals’ founding cornerstone. The company sets itself apart by employing only appraisal executives with extensive lodging operating experience that uniquely qualifies them to provide the kinds of business valuations that enable hospitality clients/investors to make informed strategic decisions.
For this reason, Hospitality Appraisals frequently is the first choice of hotel owners, the financial community, developers and major hotel chains nationwide.
Each member of its team of talented professionals has years (most have more than 20) in management positions for some of the nation’s largest and most well-known hotel chains.