|Ithaca, NY, August 22, 2011
The Cornell Center for Hospitality Research (CHR) in
conjunction with the Cornell
Center for Real Estate and Finance (CREF) is pleased to announce
update of the most-often-downloaded and widely used tool on the CHR
site, the Hotel Valuation Software (HVS), Version 3. The HVS
which has had more than 6,600 user downloads thus far, now takes
the latest computer hardware and software capabilities, adds new
and flexibility, and reflects current industry valuation practice. Both
HVS tool and the former classic tool are available at no charge from
CHR at http://www.hotelschool.cornell.edu/research/chr/pubs/tools/tooldetails-15741.html.
Developed by industry icon and hotel valuation pioneer Steve Rushmore, president and founder of HVS, and Jan DeRoos, HVS Professor of Hotel Finance and Real Estate and executive director of the Center for Real Estate and Finance, the tool replicates the software actually used by HVS to perform its hotel market studies and valuations worldwide.
"Over the years, Jan and I have been collaborating on the development and enhancement of Hotel Valuations Software," explains Rushmore. "This is a set of three innovative programs used by thousands of industry professionals to perform hotel market studies, financial projections, and valuations.
"This update represents a significant enhancement in its analytical capabilities and functionality by incorporating numerous upgrades–the ability to alter the projection period, value using debt coverage, and mortgage yields." Rushmore continues: "As a service to our industry, we provide the HVS tool free of charge so hotel owners, lenders, and operators can make educated and sound financial judgments."
According to deRoos, "The HVS tool is the only valuation software that is developed through the collaboration of the leading hotel school and the leading hotel consulting and services organization. Now in its third edition, the Hotel Valuation Software provides owners, investors, lenders and students a way to produce precise forecasts of hotel performance and to estimate value."
He adds: "The programs provide a user-friendly set of tools that are founded on economic principles and contemporary modeling techniques. Steve and I see the Hotel Valuation Software as our way to 'pay it forward' to the industry that has been so generous to us."
A partner of the Center for Hospitality Research and a Founding Industry Fellow of the Center for Real Estate and Finance, HVS provides global consulting and valuation services for the hotel, restaurant, gaming, and leisure industries. Founded in 1980 by Steve Rushmore, author of The Valuation of Hotels and Motels and a pioneer in consulting and appraisal methodology for the hospitality industry, HVS offers a wide range of specialties including: valuation of hotels and resorts, executive search, investment banking, hotel management, gaming services, food and beverage services, hotel parking consulting, asset management, golf services, sales and marketing, interior design, shared-ownership services, spa consulting, eco services, and appraisals and consulting for convention, sports, and entertainment facilities. HVS' hotel and hospitality experts consistently generate a wide variety of articles, studies, and publications on all aspects of the industry, and the firm is represented at most of the major annual hotel industry conferences throughout the world.
HVS is client driven, entrepreneurial, and dedicated to providing the best advice and services in a timely and cost efficient manner. Learn more at www.hvs.com.
About the Cornell Center for Real Estate and Finance
The Center for Real Estate and Finance was established as the intellectual home of the real estate discipline at Cornell University. Building on a 30-year tradition of excellence in hospitality real estate, the Center has added faculty, facilities, and foundations to become one of the world's premier real estate education and research institutions. The Center's mission is to be a leader in commercial real estate education, research, and knowledge.
The CREF is supported by the following Industry Fellows: Abacus Lodging Investors, Archon Hospitality, Atlantic Pacific Companies, Chartres Lodging, Hersha Hospitality Trust, Hilton Worldwide, HVS, Jones Lang LaSalle Hotels, LaSalle Hotel Properties, Marquette Real Estate Group, Marriott International, National Realty and Development Corporation, Prudential, Real Capital Analytics, Sawyer Realty Holdings, Spring Bay Property Company, Starwood Capital Group, Sunstone Hotel Investors, W Holdings, and Westbrook Partners.
Thanks to the support of the CHR partners listed below, all publications posted on the center's website are available free of charge, at www.chr.cornell.edu.
About The Center for Hospitality Research
A unit of the Cornell School of Hotel Administration, The Center for Hospitality Research (CHR) sponsors research designed to improve practices in the hospitality industry. Under the lead of the center's 76 corporate affiliates, experienced scholars work closely with business executives to discover new insights into strategic, managerial and operating practices. The center also publishes the award-winning hospitality journal, the Cornell Hospitality Quarterly. To learn more about the center and its projects, visit www.chr.cornell.edu.
The Cornell School Of Hotel Administration
537 Statler Hall
USA - Ithaca, NY 14853
More About Your
News Being Published on Hotel-Online Inquire Here
Center for Hospitality Research Study Finds Customers Give More
Credibility to the Green Activities of Large Restaurant Companies When
Small Competitors Launch Green Initiatives; Consumers are Skeptical
When Large Chains Promote Initiatives in the Absence of These Small
Competitors / August 2011
2011 Cornell Hospitality Quarterly Features Study of Hotel Guests'
Preferences Regarding Sustainability in Hotels / July 2011
Study Proposes Uniform Sustainability Reporting Framework for the
Hospitality Industry / July 2011
Law, Service Innovation, and Brand Management Addressed at the Cornell
Center for Hospitality Research Spring Roundtables / May 2011
Hospitality Research Summit Participants Say that the Focus of Internet
Presence Must be on Customer Experiences to Build Your Brand / May
Hospitality Research Summit Explores the Dimensions of Electronic
Distribution and Revenue Management; Chief Thread is Need for Hotels to
Establish and Maintain Price Integrity / April 2011
Study Finds That Well-Designed Hotel Energy Saving Treatments Do Not
Diminish the Guest Experience; Study Tested Reduced Television Power
Levels and Alterations in Bathroom Lighting in Guest Rooms by Surveying
192 Guests of the Hotel Statler / March 2011
Report Outlines Six Step Process on How to Develop a Destination Brand;
Student Team Created Plan for Marketing and Branding Zambia as a
Tourism Destination / January 2011