Show simple item record

dc.contributor.authorLiu, Crocker H.
dc.contributor.authorNowak, Adam D.
dc.contributor.authorWhite, Robert M. Jr.
dc.description.abstractOur Standardized Unexpected Price (SUP) metric showed an uptick in the price of large hotels during the third quarter of 2016, with a continued decline in the price of small hotels. Although debt and equity financing for hotels were still relatively inexpensive during this quarter, we remain concerned that the increasing relative riskiness of hotels compared to other commercial real estate suggests that lenders will eventually start to tighten hotel lending standards if this trend continues. Our early warning indicators continue to suggest an eventual downward trend in large hotel prices. This is report number 20 of the index series.
dc.relationSupplemental 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.rightsRequired Publisher Statement: © Cornell University. This report may not be reproduced or distributed without the express permission of the publisher.
dc.subjectcommercial real estate
dc.subjecthotel valuation models
dc.subjecteconomic value added (EVA)
dc.subjecthotel lending
dc.subjectearly warning indicators
dc.titleThird Quarter 2016: Hotels Exhibit Positive Momentum
dc.description.legacydownloadsvol5_no4.pdf: 83 downloads, before Aug. 1, 2020.
local.authorAffiliationLiu, Crocker H.: Cornell University School of Hotel Administration
local.authorAffiliationNowak, Adam D.: West Virginia University
local.authorAffiliationWhite, Robert M. Jr.: Real Capital Analytics, Inc.

Files in this item


This item appears in the following Collection(s)

Show simple item record