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Researchers at The Cornell Hotel School have created
non-proprietary computer software designed to assist hospitality real estate professionals and hoteliers
in developing market studies, forecasts of income and expense and valuations for lodging properties.
Stephen Rushmore, MAI, CHA, President and Founder of HVS International, developed the tool with Jan de Roos, associate professor and the HVS International
Professor of Hotel Finance and Real Estate at the school, in a collaborative partnership sponsored by the School’s Center for Hospitality Research.
“The software provides an accurate, consistent, and cost-effective way for hospitality professionals to forecast occupancy, revenues and expenses, and to produce
estimates of hotel value,” de Roos said.
The tool consists of three separate software programs written as Excel files along with an operations manual. The programs are:
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Room Night Analysis
- Fixed and Variable Revenue and Expense Analysis
- Hotel Capitalization Software
“The tool helps hotel appraisers to better evaluate competitive factors such as occupancy, average room rate, and market segmentation of all hotels in a given market,”
Rushmore said.
The tool is available free of charge from the Cornell Center for Hospitality Research via the CHR
website at: http://www.hotelschool.cornell.edu/chr/research/hvstool.html
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