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Small Hotel/Motel Valuation: Limited-Service Lodging
David C. Lennhoff, MAI, SRA
Appraisal Institute - Online Education
to check state approvals
Sponsor / Contact
This seminar will give appraisers an opportunity to examine the unique business aspects, demands and challenges involved in appraising lodging properties - particularly the limited-service hotel. Participants will discuss the state of the industry, determine how it relates to a specific appraisal problem and become familiar with hotel terminology. Students will gain confidence in identifying data sources, review effective techniques for property inspection interviews, and recognize special valuation issues, such as allocating the going concern. This seminar also covers the Uniform System of Accounts for the Lodging Industry and how it applies to reconstructing income and expense statements.
Module 1: Overview of the Lodging Industry
Module 2: Valuation Introduction and the Income Approach
Module 3: Issues and Application of the Sales Comparison Approach
Module 4: The Cost Approach
Module 5: Allocating the Going Concern
· Recognize the distinction between segments of the lodging industry. · Understand the state of the industry and how it relates to a specific appraisal problem. · Study hotel terminology and illustrate its applications.
· Identify sources of data-including general, background, income and expenses, occupancy and rates. · Stress importance of interviewing skills relating to property inspection, competitive property survey and sales confirmation. · Understand the Uniform System of Accounts for the Lodging Industry and how it applies to reconstructing income and expense statements. · Learn the strengths and weaknesses of the cost approach and sales comparison as they apply to hotel valuation. · Recognize valuation issues unique to this property type, such as allocating the going concern.
AI CE Credit for Designated members, Candidates for Designation and Practicing Affiliates
· Attend Only = 75 points
If you are unable to complete a seminar once it begins, you may cancel out of the seminar before the official seminar end date. Once you cancel out of a seminar, however, you must start the seminar over at the beginning in any later enrollments. You cannot be placed into the seminar where you left off before canceling.
The following tuition refund policy is in effect for canceled online seminars based on the amount of material completed in a seminar:
Less than 25% of the seminar completed: $60 cancellation fee
More than 25% of the seminar completed: no tuition refund
I agree to the terms and policies set forth under the Appraisal Institute Online Education Policy. I also certify that I am the person identified above under Personal Data and that I will personally complete each assigned module of instruction and any examination(s). I understand and agree that if I misrepresent my identity or arrange for someone else to represent himself or herself as me at any time during the Appraisal Institute online course or seminar, I will be immediately removed from the course or seminar and I will not be entitled to any refund. I further understand that if I am a member of the Appraisal Institute and participated in any misrepresentation of identity, by affirmative act or failure to act, that I will be the subject of a peer review proceeding under Regulation No. 6 for violation of the Appraisal Institute's Code of Professional Ethics and Standard of Professional Appraisal Practice, and that such peer review proceeding may result in termination of my Appraisal Institute membership.
ONLINE CLASS ACCESS
Please allow 1 hour after registration to start an online session in progress (on or after the session start date). Go to
and log in with the username and password you used when you registered. You will automatically be taken to the "My Appraisal Institute" page. Near the middle of that page your course will be listed with a link next to it that says "Go To Class".
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