Now showing items 1-7 of 7

    • Are Floating-Rate Mortgages Best for Hotels? Observations from the Recent Cyclical Peak-To-Trough 

      Corgel, John B.; Gibson, Scott (2004-10-01)
      [Excerpt] During January of 2004, we attended the American Lodging Investment Summit (ALIS), a large hotel industry investment conference held each year in Los Angeles. We sat through several sessions about financing hotel ...
    • Can Fund Managers Select Outperforming REITs? Examining Fund Holdings and Trades 

      Cici, Gjergji; Corgel, John B.; Gibson, Scott (2011-10-01)
      Despite at least six empirical studies published since 2000 designed to assess fund managers’ Real Estate Investment Trust (REIT)-selection ability, their skill remains in question. Unlike previous studies, we examine fund ...
    • IPO Underpricing in the Hospitality Industry: A Necessary Evil? 

      Canina, Linda; Chang, Charles; Gibson, Scott (2008-01-01)
      Hospitality initial public offerings (IPOs) experienced average first-day price increases of 17.1% between January 1981 and December 2001. This price increase, referred to as IPO underpricing, represents a substantial ...
    • Nontraded REITS: Considerations for Hotel Investors 

      Corgel, John B.; Gibson, Scott (2008-11-01)
      Nontraded REITs are an attractive buy-and-hold investment for income-oriented investors. Sold through broker-dealers, shares in these real estate investment trusts do not trade on public exchanges, promise relatively high ...
    • Real Estate Private Equity: The Case of U.S. Unlisted REITs 

      Corgel, John B.; Gibson, Scott (1999-01-01)
      Purpose - The purpose of this paper is to demonstrate how fixed-share prices, as a structural flaw in private equity funds targeted to small-unit investors, economically disadvantages those investors in favor of sponsors. ...
    • The Use of Fixed-Rate and Floating-Rate Debt for Hotels 

      Corgel, John B.; Gibson, Scott (2005-11-01)
      A time-series simulation that compares hotel-industry revenue per available room (RevPAR) with London Interbank Offer Rate (LIBOR) indicates that hotel investors would fare more favorably with floating-rate loans than with ...
    • Understanding First-day Returns of Hospitality Initial Public Offerings 

      Canina, Linda; Gibson, Scott (2003-08-01)
      [Excerpt] The decision for a company to issue shares publicly for the first time is not to be taken lightly. The manager-owner of a private firm must carefully weigh the benefits of an initial public offering (IPO) against ...