msu lodging index: detroit tourism improving, but lags in hotel market performance.
Oct 28, 2011 |
The Detroit hotel market currently ranks 23rd out of 25 U.S. metropolitan areas in Michigan State University's (MSU) Lodging Market Potential Index (L-MPI©), but the news might not be all bad, according to Steve Marx, owner of Hotel Source, Inc., a Chicago-based real estate brokerage and advisory services firm. (+) Read Full Version
Proposed changes to SBA loan limits bring new options
Aug 02, 2010 |
By: Victoria Burt
Managing Editor of Hotel & Motel Management, Hotel Design, Luxury Hotelier, and The Hotel Times
The Small Business Administration, and specifically its 504 loan program, lends itself to owner-operators in the hotel real-estate business because hoteliers with a small portfolio generally meet the net worth and income guidelines set by the SBA.
New legislation proposed by President Obama and passed by the House of Representatives would raise loan limits and ease requirements for borrowers.
“It really makes a big difference in the limited-service space as you go from economy to mid-scale properties,” said Walker Geyer, managing director of capital markets at Paramount Lodging Advisors. “It also allows buyers to look at properties located in a more expensive geographic area.
“There are a significant number of banks that participate in the SBA 504 program because their exposure is limited to just 50 percent of the total cost of a project. So it’s an attractive bank lending area. And then the SBA also underwrites the loan. So you basically get approval on the loan from both the bank and the SBA,” he added.
Read full article published by:
HotelWorldNetwork.com on August 02, 2010
Managing Editor of Hotel & Motel Management, Hotel Design, Luxury Hotelier, and The Hotel Times
The Small Business Administration, and specifically its 504 loan program, lends itself to owner-operators in the hotel real-estate business because hoteliers with a small portfolio generally meet the net worth and income guidelines set by the SBA.
New legislation proposed by President Obama and passed by the House of Representatives would raise loan limits and ease requirements for borrowers.
“It really makes a big difference in the limited-service space as you go from economy to mid-scale properties,” said Walker Geyer, managing director of capital markets at Paramount Lodging Advisors. “It also allows buyers to look at properties located in a more expensive geographic area.
“There are a significant number of banks that participate in the SBA 504 program because their exposure is limited to just 50 percent of the total cost of a project. So it’s an attractive bank lending area. And then the SBA also underwrites the loan. So you basically get approval on the loan from both the bank and the SBA,” he added.
Read full article published by:
HotelWorldNetwork.com on August 02, 2010
Savvy Asset Managers Share Their Secrets
Jul 20, 2010 |
When Paramount Lodging Advisors reviewed the financial performance of 140 Chicago-area hotels in the first quarter, the real estate services firm discovered a surprising trend. At more than half the hotels it reviewed, owners hadn’t contested their property taxes over the past three years despite a sharp drop in appraised values industry wide.
Such passiveness among owners amid a deep hotel slump came as a shock to Sanjeev Misra, senior managing director of Chicago-based Paramount Lodging Advisors. “Simple things have to be done,” Misra said emphatically at last week’s panel discussion on the art of asset management during the third annual Midwest Lodging Investors Summit in Chicago...
Read full article published by:
National Real Estate Investor (NREI) on July 19, 2010
Lodging Hospitality on July 20, 2010
5 secrets from asset managers
Jul 15, 2010 |
By Patrick Mayock, HNN Associate News Editor
CHICAGO — Can you keep a secret? Asset managers sure can’t—especially when discussing their time-tested tactics for surviving the downturn and preparing for recovery.
That proved a good thing for attendees of a breakout session at the Midwest Lodging Investors Summit this week. During the presentation, titled “Asset Managers Share Their Secrets,” a panel of seasoned asset managers disclosed the following pieces of advice for maximizing the value of a hotel.
1. Plan for various outcomes
2. Communicate objectives
3. Approach problems as a team
4. Maintain efficiency
5. Get smart about your market
Read full article published by:
Hotel News Now (HNN) on July 15, 2010
CHICAGO — Can you keep a secret? Asset managers sure can’t—especially when discussing their time-tested tactics for surviving the downturn and preparing for recovery.
That proved a good thing for attendees of a breakout session at the Midwest Lodging Investors Summit this week. During the presentation, titled “Asset Managers Share Their Secrets,” a panel of seasoned asset managers disclosed the following pieces of advice for maximizing the value of a hotel.
1. Plan for various outcomes
2. Communicate objectives
3. Approach problems as a team
4. Maintain efficiency
5. Get smart about your market
Read full article published by:
Hotel News Now (HNN) on July 15, 2010
New Index Targets Hotel Market Potential
Apr 26, 2010 |
By Dr. A.J. Singh and Dr. Raymond S. Schmidgall
As the economy continues to recover and the hotel industry regains its footing, the question for developers has begun to shift from when and how to where. The Lodging Market Potential Index (L-MPI), first introduced last year at the Midwest Lodging Investors Summit, helps answer that question, ranking the 25 largest lodging markets in the U.S. by long-term potential for hotel investment. Developers and investors—looking to buy or build—now have a comparative analysis of the markets with the most potential.
Published in Lodging Hospitality on April 26, 2010
(+) Read Full Version
As the economy continues to recover and the hotel industry regains its footing, the question for developers has begun to shift from when and how to where. The Lodging Market Potential Index (L-MPI), first introduced last year at the Midwest Lodging Investors Summit, helps answer that question, ranking the 25 largest lodging markets in the U.S. by long-term potential for hotel investment. Developers and investors—looking to buy or build—now have a comparative analysis of the markets with the most potential.
Published in Lodging Hospitality on April 26, 2010
(+) Read Full Version