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Hotel Appraising-New Techniques for Today's Uncertain Times

    Date: March 12, 2010, Fri., 8:15 a.m. - 4:30 p.m.   Location: Fort Lauderdale, FL
 
  Local Area Topics    
Category  Electives [E]  
Attendance Hours  7.0  
Current Price  $ 150.00 Member *
$ 175.00 Regular *
* SAVE! early registration
    
 
  Location    
Name  Courtyard by Marriott  
Address  2440 West Cypress Creek Road  
City  Fort Lauderdale  
State  FL  
    
 
  Sponsor / Contact    
Chapter  South Florida
Website  www.southflorida-ai.org  
Contact Name  Debra McClave  
Email  sfchap@bellsouth.net  
Phone  (954) 229-0499  
 
  Description    
Instructor: Steve Rushmore, MAI, President & Founder, HVS Global Hospitality Services, a global hotel consulting organization with 24 offices around the world. As a leading authority and prolific author on the topic of hotel feasibility studies and appraisals, Steve Rushmore has written all five textbooks and two seminars for the Appraisal Institute covering this subject.

Description:
With the downturn in the U.S. economy and the resulting cutbacks in all types of travel, hotels are experiencing rapidly declining occupancies, room rates and profits. Coupled with a total lack of debt capital, hotel transactions have come to a complete halt and many hotel owners are under extreme stress because their property’s cash flow is insufficient to cover debt service. These are challenging times for hotel appraisers who must thoroughly understand the current hotel economic environment and apply the correct valuation techniques in order to develop a realistic estimate of value. This seminar provides hotel owners, operators and appraisers the tools, software and knowledge needed to evaluate the dynamically changing local supply and demand trends, quantify the relative competitiveness of nearby hotels, forecast occupancy, room rate and REVPAR, project a detailed income and expense statement and utilize the appropriate appraisal techniques to estimate market and liquidation values. In addition to hotel appraisals, this seminar also illustrates how hotel market and feasibility studies are performed. Seminar participants will work with Hotel Valuation Software, three state-of-the-art programs developed by HVS that forecasts hotel occupancy, room rate, income and expense and value. The HVS software programs and user manual, along with a demonstration hotel market study and valuation, a handbook on hotel investments and numerous research studies and articles will be included in each participant’s take-home package.


Seminar’s Objective
To understand the current dynamics of the hotel industry and the various procedures for gathering, analyzing and processing data into a comprehensive market study and estimate of value for all types of hotels.

Attendees will take home material on a Flash Drive
  • Articles on Hotel Appraisals
  • Demonstration Hotel Appraisal
  • Hotel Investment Handbook
  • Hotel Research Publications
  • Hotel Valuation Software and Manuals
    		•
     
      Audience    
    Real estate appraisers, hotel owners and operators
     
      Equipment    
  • Laptops REQUIRED
  • Students need to bring their own personal computer loaded with Power Point and Excel and containing a USB port and a charger.
    • Class materials, software, the presentation plus all items contained in the addenda will be loaded on a flash disk and given to each student upon registration which needs to be downloaded via the USB port.
     
      Disclaimer    
    Cancellation Policy
    • Up To 15 days prior to program start date, $50.00 cancellation fee.
    • 7 - 14 days prior to program start date, $75.00 cancellation fee.
    • Less than 7 days prior to program start date, forfeit of payment.
    		        
    Cancellations/Refunds: Requests for cancellations must be received in writing at the chapter office. Confirmed students should not assume that cancellation has been granted until a confirmation has been received. Direct your email requests to: sfchap@bellsouth.net. The South Florida Chapter of the Appraisal Institute is not responsible for students' non-refundable airline reservations or other travel expenses. The Chapter reserves the right to cancel, limit, or reschedule the program and to change faculty assignments and facility locations at any time.

    Required Equipment:
  • Laptops REQUIRED
  • Students need to bring their own personal computer loaded with Power Point and Excel and containing a USB port and a charger.


    • Class materials, software, the presentation plus all items contained in the addenda will be loaded on a flash disk and given to each student upon registration which needs to be downloaded via the USB port.

    Course Attendance: One hundred percent (100%) attendance is required for all Appraisal Institute education programs. This follows Appraiser Qualification Board minimum criteria requirements.

    Continuing Education Credit:
  • Appraisal Institute, 7-hours
  • Florida Real Estate Appraisal Board, 7-hours, pending
  • CE credit Florida ONLY


    • ADA Policy: If you have a disability and may require special accommodation, please notify us in writing at least two (2) weeks in advance and we will arrange for reasonable accommodation.

    Program materials will be picked up at the site.
     
      Additional Information    
    Location:
    Courtyard by Marriott
    2440 West Cypress Creek Road
    Fort Lauderdale, FL 33309

    Course Schedule: Friday, March 12, 2010: 8:15 a.m. – 4:30 p.m.

    Hotel Accommodations: Courtyard by Marriott, 954-772-7770 at $89 per night, includes breakfast. Mention the Appraisal Institute when reserving a room. Register early! Thirty (30) days prior to arrival date.

    Required Equipment:
  • Laptops REQUIRED
  • Students need to bring their own personal computer loaded with Power Point and Excel and containing a USB port and a charger.


    • Class materials, software, the presentation plus all items contained in the addenda will be loaded on a flash disk and given to each student upon registration which needs to be downloaded via the USB port.

    Directions:
    Fort Lauderdale Airport (12 miles north): Exit the Airport following direction signs to I-95 North. Proceed North on I-95 to Cypress Creek Road WEST, Exit 33B. Proceed west off of the Exit 1.9 miles. The hotel is located on the left hand side of the road. Estimated taxi fare: $42.00 (one way).

    Miami International Airport (37 miles north): Merge onto Airport Expressway/FL-112 E toward I-95 N/ BEACHES (Portions toll). 4.4 miles and take the I-95 South exit toward DOWNTOWN. 0.2 miles. Merge onto I-95 N via the exit on the LEFT toward FT. LAUDERDALE/ORLANDO approximately 29.1 miles. Exit on Cypress Creek Road WEST, Exit 33B. Proceed west off of the exit 1.9 miles. The hotel is located on the left hand side of the road. Estimated taxi fare: $70.00 (one way).


    •  Courtyard by Marriott  
     

     
     
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