Independent Hotel Expense

[justin7777]

I am an appraiser in New Jersey and New York and was recently tasked with appraising an independent hotel in Cartersville, Georgia.

The subject was previously operated as a hotel in 2000 then was converted into an assisted living facility in 2010. It is currently under a contract of sale and will be re-converted into an independently operated hotel. It will contain 133 units.

I was hoping if you can recommend a site or a company who might provide me with operating expense comparables.

Any assistance or help would be greatly appreciated.

If you ever need assistance in appraising properties in New York or New Jersey please let me know.

Thank you once again.

 

[glenn walker]

I am an appraiser in New Jersey and New York and was recently tasked with appraising an independent hotel in Cartersville, Georgia.

The subject was previously operated as a hotel in 2000 then was converted into an assisted living facility in 2010. It is currently under a contract of sale and will be re-converted into an independently operated hotel. It will contain 133 units.

I was hoping if you can recommend a site or a company who might provide me with operating expense comparables.

Any assistance or help would be greatly appreciated.

If you ever need assistance in appraising properties in New York or New Jersey please let me know.

Thank you once again.

So you are appraising both the building and the Business ? we owned two motels back in the day but no two are ever similar in cash flow and expenses other than on Large Chains.

 

[Gobears81]

I just reread OP, disregard my prior post

 

[PL1957]

I am an appraiser in New Jersey and New York and was recently tasked with appraising an independent hotel in Cartersville, Georgia.

The subject was previously operated as a hotel in 2000 then was converted into an assisted living facility in 2010. It is currently under a contract of sale and will be re-converted into an independently operated hotel. It will contain 133 units.

I was hoping if you can recommend a site or a company who might provide me with operating expense comparables.

Any assistance or help would be greatly appreciated.

If you ever need assistance in appraising properties in New York or New Jersey please let me know.

Thank you once again.

STR (formerly Smith Travel Research) publishes expense benchmark data. As it’s a CoStar company, I’m sure you’ll pay through the nose.

 

[Terrel L. Shields]

Hotel Benchmarking

Benchmark Revenues and Expenses against 7000+ hotels in the U.S.

pip.cbrehotels.com