Third Quarter 2015: Have Hotel Prices Peaked?

Liu, Crocker H.; Nowak, Adam D.; White, Robert M.

dc.contributor.author	Liu, Crocker H.
dc.contributor.author	Nowak, Adam D.
dc.contributor.author	White, Robert M.
dc.date.accessioned	2020-09-09T17:01:00Z
dc.date.available	2020-09-09T17:01:00Z
dc.date.issued	2015-10-01
dc.identifier.other	7748308
dc.identifier.uri	https://hdl.handle.net/1813/70926
dc.description.abstract	The price of large and small hotels appears to have peaked, based on our Standardized Unexpected Price (SUP) metric. Hotel investment based on operating performance is in the black (breakeven). Indicators that hotel prices should start to level off or decline include the historical cycle analysis, a continued rise in cost of debt financing, a widening of the relative risk premium for hotels, higher total risk for hotels relative to other commercial real estate, and continued declines in the hotel REIT index, business confidence index, and the architecture billings index. This is report number 16 of the index series.
dc.language.iso	en_US
dc.relation	Supplemental File: Hotel Valuation Model (HOTVAL). We provide this user friendly hotel valuation model in an excel spreadsheet entitled HOTVAL Toolkit as a complement to this report.
dc.relation.uri	https://hdl.handle.net/1813/72548.2
dc.rights	Required Publisher Statement: © Cornell University. This report may not be reproduced or distributed without the express permission of the publisher.
dc.subject	Cornell
dc.subject	hotel indices
dc.subject	Standardized Unexpected Price
dc.subject	REIT
dc.subject	hotel prices
dc.subject	HOTVaL
dc.title	Third Quarter 2015: Have Hotel Prices Peaked?
dc.type	article
dc.description.legacydownloads	vol4_no4.pdf: 206 downloads, before Aug. 1, 2020.
local.authorAffiliation	Liu, Crocker H.: chl62@cornell.edu Cornell University School of Hotel Administration
local.authorAffiliation	Nowak, Adam D.: West Virginia University