HTD 500 Lecture 2: Chapter 2

• School: Ryerson University
• Department: Hospitality and Tourism Management
• Course: HTD 500
• Professor: Richard Wade

Document Summary

Chapter 2 performing a hotel market study and valuation. Choosing completive set: 4ps: participation (in str, proximity, pricing, product. The phases of performing a hotel market study & valuation. Is the hotel existing/ proposed: what facilities constitute the property, what is the date of value, what is the purpose of the study, what property rights are to be appraised? (fee simple, leasehold, lease fee, combination) Phase 2: collect the data: data collection checklist should be prepared to ensure no. essential info overlooked; info provided by property owner/ client include. Primary market research conducted by appraiser secondary research of in-house data & other secondary sources (star report: data collection process should be thorough, accurate & all-inclusive, property location/ address, operator"s performance abilities. Phase 3: analyze the data: use sophisticated analytical procedures to manipulate data so appraiser can simulate/ model actual market conditions.