Richard W Musgrove - Hotel Asset Management - Principles & Practices

ISBN
   

Soort boek
Paperback

<p>THE FIRST EDITION of Hotel Asset Management: Principles & Practices was published in 2004 with the intention of creating a resource guide for asset managers. The second edition was published in 2009 to help practicing asset managers advance their knowledge of the profession by providing the latest thinking on top- ics relevant to asset management. Given the breadth of topics covered, the second edition appealed to a much broader audience including students and faculty along with hotel industry executives recognizing the importance ince of the asset management profession in value creation in the hospitality industry. We are now pleased to present this third edition, which provides the most comprehensive coverage of the principles and practice of asset management to date. The book is divided into four sections that focus on important facets of asset management as they relate to hospitality real estate.</p> <p>Part I, "The Foundations and Processes of Asset Management," begins by pro- filing the current state of the profession. It goes on to cover the asset management cycle, the development of the asset management plan, the evaluation of franchise and chain affiliation programs, the use of benchmarking and financial analysis tools, and the need for effective channel management.</p> <p>Part II, "Real Estate and the Physical Asset," offers chapters on hotel develop- ment, managing capital expenditures, insurance and risk management, sustain- ability, and technology.</p> <p>Part III, "Contrac "Contracts and Legal Aspects of Asset Management," addresses hotel management contracts, franchise and license agreements, key legal issues that all hotel asset managers should be familiar with in managing hotel investments, and risk vs. return from the lender's perspective.</p> <p>Part IV, "Planning and Executing the Hotel Investment," presents chapters covering principles of hotel investment ventures, the art of the capital structure, hospitality REITs and the evolution of ownership in the lodging industry, hotel valuation techniques, and the hotel investment buy, hold, sell decision-making process, and the hotel as an investment alternative.</p> <p>Hotel Asset Management: Principles & Practices represents the collaborative work of thirty-seven industry professionals-experts in their respective specialty areas-all of whom contributed their time and expertise without remuneration. We are very fortunate that this distinguished group of men and women agreed to contribute their expertise to this book, and we are deeply appreciative of the time and effort involved to make this third edition possible.</p>