Hospitality & Leisure Valuation: What Every Appraiser Should Know

Appraisers often tailor their practices to conventional property types like multifamily, general retail strips, and office buildings. However, significant demand exists for specialized appraisers with competency in valuing unique properties like hotels, marinas, and golf courses. This program aims to equip appraisers with a foundational understanding of specialty leisure and hospitality property valuations. The program will provide a broad overview of these property types and their unique valuation challenges, including allocation of the going concern, how shifting trends in the travel industry influence value, and common issues that arise during the review process. The program will begin with a presentation by Jeff Dugas of Leisure Appraisal, who will provide a general overview of golf course and marina valuations. Jeff’s presentation will be followed by a three-person panel discussion with Jim Berry (Newmark), James Rizzo (Rockland Trust), and James O’Connell (Hospitality Real Estate Counselors). The panel discussion will provide insight into how different professionals—appraisers, brokers, and lenders—approach the nuances inherent in the valuation of leisure and hospitality properties. The ultimate purpose of this program is to help appraisers gain competency and expand their practice into this niche segment of the profession.