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Hotel Question

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Ad Wizard

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Freshman Member
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Jan 23, 2008
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Certified General Appraiser
State
Virginia
Are any appraisers now using the new Summary Operating Statement per the revised 10th edition of the Uniform System of Accounts for the Lodging Industry (USALI)?

All accountants, analysts, lawyers, managers, investors, etc. are now using it (since the beginning of 2008). If everyone else is using it, why would we not?

Here's a link to the change

http://www.hotelmotel.com/hotelmote...e/detail/480155?contextCategoryId=1260&ref=25
 

Boonders

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Oct 31, 2006
Professional Status
Certified General Appraiser
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Iowa
The last time I checked, most all major flags used the same categories as Smith Travel Research...and as long as STR is the king in data...I'm guessing i'll keep using their expense categories (don't know if they are any different...didn't care to look :) ).
 

Ad Wizard

Thread Starter
Freshman Member
Joined
Jan 23, 2008
Professional Status
Certified General Appraiser
State
Virginia
I am trying to find out if appraisers are using it. Everyone else seems to be.
 

Abester

Senior Member
Joined
Jun 12, 2003
Professional Status
Certified General Appraiser
State
Florida
I know a lot of hotel/motel operators that do not.

I also note that there is a category for replacement reserves. Not all operators make this deduction.
 

Howard Klahr

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Joined
Oct 4, 2004
Professional Status
Certified General Appraiser
State
Florida
Dane Anderson said:
same categories as Smith Travel Research
STR utilizes the broad general catagories for their reports, the Uniform System of Accounts for the Lodging Industry actually defines what is posted where and utilizes a more detailed breakdown.

For valuation purposes, the more granular detail of USALI is not necessary, but just like IREM, BOMA and ULI surveys, it pays to understand of what each catagory is composed.
 

H.B. Userman

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Nov 11, 2003
Professional Status
Certified General Appraiser
State
Wisconsin
The last hotel I appraised, I received the proforma from the developer, and it was the same exact format as the link you referenced. I don't think the format however is as important as just being certain all the basics are covered. My mentor always had me break down the expenses one by one which is the best way to do it. Changes throughout each year can be more easily measured and it looks more complete. As far as reporting a condensed income statement, might as well use what the market participants are I'd think.
 
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