Hospitality Property Appraisals

The Hospitality industry is closely tied to, if not a subset, of the real estate industry. The travel, leisure, recreational, food service, lodging and entertainment businesses in many cases are hard to separate, especially in large multi-faceted complexes such as resorts or conference centers. As in most other industries, there has been significant change in the Hospitality industry in recent years. Issues such as the cost of travel and general economic conditions play a big part in the evaluation of Hospitality properties. Other issues more within control of the owner of such properties and which may affect value include competent management and property condition. The Hospitality industry, in most instances, is more of a business than just real property. Properties which are not under competent and professional management will demonstrate lower Market Values than those which are. Many if not most Hospitality properties will be appraised as going concerns, and out of necessity, will include personal property and business goodwill. This is contrary to most real estate evaluations and can present a challenge to the less than experienced appraiser.

Bed & Breakfasts

Bed and breakfast appraisal and B&B appraisals are typically done to value a B&B property, often containing historical structures and will consider location, age, condition, profitability and going concern value of the business.

Casinos

Casino appraisal and valuation often involves multiple profit centers and typically operate off of high profit margins, often within large hotels or meeting facilities.

Convention Centers

Convention center appraisal and valuation determines the value of convention center properties which fluctuates depending on economic circumstances.

Golf Courses

Golf course appraisal and valuation will be based on the real estate and going concern value considering all income and expenses such as membership dues, greens fees and cart fees.

Hotels

Hotel appraisal and hotel valuation will often include not only the real estate, but a going concern value to include intangible property and goodwill of the business.

Inns

Inn appraisal and valuation of inn properties often refers to a small lodging facility or quaint family run lodges that offer few amenities but tons of charm.

Marinas

Marina appraisal and marina valuations will determine value by looking at a variety of factors such as number of wet slips, dry slips, amenities, full service dockage options, and location to major waterways and attractions.

Motels

Motel appraisal and valuation refers to motor lodge properties that are typically older but very close to major transportation routes and highways and will be valued as going concern value.

Private Clubs

Private club appraisal and country club valuation involves analyzing many different sources of income and club facilities being used by the member base.