What is a Gateway City?: A Hotel Market Perspective

Other Titles
Abstract

The United States Office of Management and Budget designates 366 American cities as metropolitan statistical areas (MSAs).2 Fifty of these 366 MSAs contain the majority of the nation’s hotel rooms. For purposes of investing in these locations, hotel capital suppliers rely on ad hoc taxonomies to organize geographic markets along quality lines with labels such as toptier cities, secondary and tertiary cities, coastal cities, and gateway cities. Although high quality hotel investments exist in many markets, the presumption is that assets in top-tier and gateway cities exceed others as IRR generators. Despite widespread acceptance of common taxonomies, definitions that allow for inclusion and exclusion of cities among the various categories are fuzzy at best. More precision regarding the organization of metropolitan hotel markets might promote research on relative pricing of hotels and investment return premiums available in these markets and generally assist the industry in differentiating MSA hotel markets.

Journal / Series
Volume & Issue
Description
Sponsorship
Date Issued
2012-04-01
Publisher
Keywords
Cornell; real estate; finance; gateway city; hotel room; RevPAR
Location
Effective Date
Expiration Date
Sector
Employer
Union
Union Local
NAICS
Number of Workers
Committee Chair
Committee Co-Chair
Committee Member
Degree Discipline
Degree Name
Degree Level
Related Version
Related DOI
Related To
Related Part
Based on Related Item
Has Other Format(s)
Part of Related Item
Related To
Related Publication(s)
Link(s) to Related Publication(s)
References
Link(s) to Reference(s)
Previously Published As
Government Document
ISBN
ISMN
ISSN
Other Identifiers
Rights
Required Publisher Statement: © Cornell University. This report may not be reproduced or distributed without the express permission of the publisher.
Rights URI
Types
article
Accessibility Feature
Accessibility Hazard
Accessibility Summary
Link(s) to Catalog Record