An appraisal of an indoor waterpark resort is similar to other appraisals in that it is a professional appraiser’s opinion of value. It is typically required by a lender before financing can be obtained for a new project. The scope of the project, including plans and development budgets, should be well defined prior to the
By: David J. Sangree, MAI, CPA, ISHC and Joseph Pierce, The economic upheaval of the past few years has impacted all industries. Nationwide, the hospitality industry experienced some of the sharpest declines in occupancy and average daily rate in 2009 since records have been kept. Gains in occupancy and rate that were made through the
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
The recession has taken its toll on the waterpark industry. Indoor waterpark development expected to decline in 2009.
Proactive strategies for hoteliers to improve profitability during the economic decline.