HTD 500 Chapter Notes - Chapter 1-10: Paper Towel, Management Fee, Cash Flow

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

Document Summary

Steven rushmore- most influential person in the lodging industry and has been for more than 25 years (may be the most successful too) What steven rushmore is most proud of are the hundreds of hotel industry executives that have apprenticed at his firm hvs. 2010 marks the 30th anniversary of the company. Hvs is originally known as hospitality valuation services. Rushmore launched his company after apprenticeship with stephen brener. However, before he did that he wrote 5 books and journal articles regarding hotel appraisals. Originally, people had to go to municipalities to get sales records on hotels but now with the index, more comps are available as data points, which increases higher-quality work of appraisers. There are 15-or-so companies under the hvs umbrella: these companies provide services in hotel management, financing, executive search, interior design, vacation ownership, risk management, etc. The companies are autonomous (independent) but rushmore does have a 50% vote and financial interest in each.