What is a Gateway City?: A Hotel Market Perspective

dc.contributor.authorCorgel, Jack
dc.date.accessioned2020-09-09T16:26:37Z
dc.date.available2020-09-09T16:26:37Z
dc.date.issued2012-04-01
dc.description.abstractThe 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.
dc.description.legacydownloadsCorgel_What_is_gateway_city.pdf: 3315 downloads, before Aug. 1, 2020.
dc.identifier.other7333876
dc.identifier.urihttps://hdl.handle.net/1813/70884
dc.language.isoen_US
dc.rightsRequired Publisher Statement: © Cornell University. This report may not be reproduced or distributed without the express permission of the publisher.
dc.subjectCornell
dc.subjectreal estate
dc.subjectfinance
dc.subjectgateway city
dc.subjecthotel room
dc.subjectRevPAR
dc.titleWhat is a Gateway City?: A Hotel Market Perspective
dc.typearticle
local.authorAffiliationCorgel, Jack: jc81@cornell.edu Cornell University
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