�Our survey presents information that industry-watchers are looking for, whether they be investors, lenders, owners, appraisers, or analysts.  Given the turns the economy has taken, the Survey spotlights some of the thinking that has gone into recent investment decisions and helps in understanding how these decisions may be shaped in the near future,� Dr. Corgel explains.

Published by PKF Consulting since 1986, Hospitality Investment Survey analyzes responses from debt and equity investors all over the U.S. to �take the pulse� of the hotel segment of real estate investment.  The new edition of the Survey presents snapshots of key investment criteria for 2000 - cap rates, discount rates, cash-on-cash returns, and more.  These figures are presented in High, Low, and Average rates for both full-service and limited service hotels, along with averages for all hotel properties.  Historical tables present criteria biennially, starting in 1986.

The 2001 edition presents a new feature, adds PKF Consulting�s Scott Smith, MAI, who co-authored the Survey.  This year�s edition includes a compilation of predictions for June 2001 by active hotel investors and lenders.  During December 2000 and January 2001, investors and mortgage lenders were surveyed regarding criteria used for allocating capital to hotels.  The expectations of these experts for June 2001 were compiled and have been made a feature of the 2001 edition of the Survey.

In addition, the Survey includes an article on the relationship between key economic measures and lodging revenues by Dr. Corgel.

The Hospitality Research Group (HRG), headquartered in Atlanta, is the research affiliate of PKF Consulting, the international consulting and real estate firm specializing in the hospitality industry.  HRG, along with PKF Consulting and hotel brokerage affiliate Hospitality Asset Advisors Incorporated are wholly owned subsidiaries of Hospitality Asset Advisors International, a U.S. Corporation.  HAA International has offices in New York, Boston, Philadelphia, Washington DC, Atlanta, Houston, Dallas, Los Angeles, San Francisco, and Singapore.