Jun
14

Hotel Appraisals Still Have Clout with Lenders, Survey Shows

By

– National Real Estate Investor

Although hotel lenders always take appraisals with a grain of salt, a newly released survey of capital providers indicates that appraisals are still the biggest factor when determining market pricing for hotel properties — even though many appraisers do not have specific knowledge of the lodging industry.

The e-mail survey, which was conducted April 15 to May 1 and sponsored by Hotel Source, a Chicago-based hotel real estate brokerage and advisory services firm, was sent to 1,000 commercial lenders and special servicers. The survey yielded a 4.5% response rate.

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