Economic Studies for Hotels: A Guide to Gathering Basic Data

Conducting economic studies for hotels requires a comprehensive analysis of the site and improvements, an understanding of competitive supply and demand forces, and a well-researched estimate of the market area's historic and potential demand for transient accommodations. A guide is presented f...

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Bibliographic Details
Published in:The Appraisal journal 1986-07, Vol.54 (3), p.443
Main Author: Hennessey, Sean F
Format: Article
Language:English
Subjects:
Economics
Guidelines
Hotels & motels
Real estate appraisal
Studies
Online Access:Get full text
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Summary:Conducting economic studies for hotels requires a comprehensive analysis of the site and improvements, an understanding of competitive supply and demand forces, and a well-researched estimate of the market area's historic and potential demand for transient accommodations. A guide is presented for gathering hotel-related data that are useful in the preparation of economic studies. The guide is offered in a checklist format that is suitable for use in the field. The checklist includes subjects used in most economic studies, such as neighborhood and site information, as well as hotel-specific subjects like tourist and convention trends. By carefully researching the points on the checklist, an analyst is likely to obtain all that is needed to prepare an analysis and economic study. The checklist is divided into 4 categories: 1. pre-field research data review, 2. subject property data, 3. competitive properties data, and 4. economic and demographic data.
ISSN:0003-7087