Chain Affiliation Is on the Rise but Which Hotels Will Rebrand?
EHL | October 13, 2020
Hotels can change brands (i.e. rebrand). An independent hotel may affiliate itself to a chain (or vice-versa), or a branded hotel may change affiliation from one chain to another, or even within a chain. The rebranding trend has been hot in recent years (see Figure 1): between 1990 and 2017, 32% of hotels in the US were rebranded at least once, with some changing their brands up to seven times. Since 2011, on average 1200 hotels (110K rooms) have been rebranded annually. The hotel rebranding trend From 57 hotels (4,445 rooms) in 1992 to 371 hotels (36,074 rooms) in 2017, the number of independent hotels affiliating themselves to a chain h...
Commercial Real Estate Valuation in the Covid-19 Era
Prashant Das | April 30, 2020
By Prashant Das & Remy Rein Glossary REIT: Real Estate Investment Trust, a company which owns and operates real estate assets and enjoys a special tax treatment. REOC: Real Estate Operating Company which did not opt for the REIT status. NCREIF: National Council of Real Estate Investment Fiduciaries. A consortium of commercial property owners which pool their data for creating real estate performance indices and benchmarks. NPI.Lev: NCREIF Property Index after accounting for payout to lenders. When Covid-19 struck, the markets reacted. Since the beginning of 2020, REIT returns have nosedived: -60% in ret...
Hospitality Management in India: Five Trends to Know
Prashant Das | August 27, 2018
By Dr. Prashant Das Although a layman's perception of hospitality is overwhelmed by the notion of "guest-oriented services", the scope of hospitality management in India has drastically expanded in recent years. There must be more to an industry with an annual revenue worth $1 trillion and over 8 million employees globally. The share of travel and tourism within the Indian economy is around 10% and steadily growing. More importantly, the industry claims to create nearly 8% employment in India which is expected to grow in the future. Within the next ten years, the hospitality sector will create nearly 70 lakh new jobs directly and nearly...
In Hotel Valuation, Being Different Helps …
December 28, 2017
'Cookie-cutter' hotels are easy to build and operate profitably, but properties with unusual features often attract a premium on resale. For example, the Chinese insurance firm Anbang set a record when it purchased New York's Waldorf-Astoria Hotel from Hilton in 2014. Most hotels cannot match the Waldorf in value, but a new study finds that having distinctive attributes helps with hotel values for upscale properties, like the Waldorf. On the other hand, cookie-cutter similarity may actually enhance the value of midscale and discount properties. The study, conducted by Ecole hôtelière de Lausanne professor Prashant Das and h...
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