Certified Hotel Appraiser (CHA) Certified Hotel Valuer (CHV)

Certified Hotel Appraiser & Certified Hotel Valuer The World's Only Certification for Hotel Appraisers and Hotel Valuers Most real property appraisers/valuers are generalists. Their valuation education is focused on properties such as office, industrial, retail and residential which are largely real estate investments. Hotels are quite different because not only do they consist of real property but they also have a business component. To value a hotel, an appraiser needs to know how a hotel functions as a going business, not just real estate. Terminology such as RevPAR, ADR, GOP, OTA’s, Uniform System of Accounts for Hotels, Competitive Indices, Segmentation, Limited Service, SMERF, and Owner’s Priority are important concepts to understand. An appraiser needs to be able to evaluate a property’s relative competitiveness, its market share, fair share, penetration, and market mix in order to project future occupancy and average rate. Then the appraiser performs a fixed and variable component analysis in order to forecast income and expense. Lastly, the most accurate hotel valuation model utilizes a mortgage-equity approach. To distinguish between an ordinary appraiser and a hotel appraiser Steve Rushmore, MAI, has developed a certification program that focuses on the business aspects of a hotel valuation. Through Steve's online course, "How to Value a Hotel" experienced appraisers looking to specialize in valuing hotels and new valuers starting their careers can become a Certified Hotel Appraiser (CHA) or Certified Hotel Valuer (CHV) For more information on Steve's online course, "How to Value a Hotel" contact Steve at [email protected] Steve Rushmore, MAI, CHA is the Founder of HVS and the leading authority and prolific author on the topic of hotel valuations, Steve has written all five hotel valuation textbooks and two seminars for the Appraisal Institute and is known as the “Creator of the Modern Hotel Valuation Methodology.”