Hotels and Resorts: An investor's guide presents a comprehensive analysis of how hotels, golf courses, spas serviced apartments, gyms and health clubs and resorts are developed, operate and are valued. Drawing on over 18 years' experience in the leisure property industry, David Harper provides invaluable advice on how to buy, develop and sell such properties. Working through the required due diligence process for purchases, including how to identify a "good buy", through the "route map" for a successful development and ending with how to ensure you maximise your returns when selling the asset, this book covers the whole life-cycle of leisure property ownership.
Examples of valuations, development issues and sales processes are taken from the USA, UK, France, Nigeria, Kenya, Australia, Hong Kong, Singapore and Brazil provide in depth analysis on the similarities and differences in approach to hotels and resorts in various parts of the world.
This book provides invaluable guidance to international investors, developers, asset managers and students in related subject areas.
David Harper is the managing director of Leisure Property Services, a fellow of the Royal Institute of Chartered Surveyors and the author of Valuation of Hotels for Investors. He is a founding member of Hotel Partners Africa (HPA), a consultancy offering a comprehensive range of services to hotel owners, operators and investors from initial feasibility to sale and exit.
Section 1 1. The Investment Lifecycle 2. Ownership Guide 3. Buying Guide 4. Development Guide 5. Construction Guide 6. The Disposal Guide Section 2 7. Methods of Valuation 8. Due Diligence 9. Financial Due Diligence - Understanding the Business 10. Valuation Due Diligence Section 3 11. Rental Valuations 12. Site Values and How they are Determined 13. Serviced Apartment Values and how they are Determined 14. Resorts with Fractional Ownership Units and how their Value is Determined 15. Gym Values and How they are Determined 16. Golf Course Values and How They Are Determined 17. Spa Values and How they are Determined