As hospitality consultants, we understand the relationship between private developers and public entities. These public-private partnerships have long been an economic tool in the hospitality industry, but post-recession they have become more commonplace.
When land is not available for purchase for hotel construction, a well negotiated ground lease can benefit both the developer and the land owner.
By David J. Sangree, MAI, CPA, ISHC, and Joseph Pierce Summary: The median sale price per room of hotels in the United States declined by over 40% between year-to-date October 2008 and year-to-date October 2009. The dramatic decline is a result of the economic recession and the fact that there was a much smaller pool