Faculty & Research
Cornell Obtains Rights to Distribute Market Study, Valuation Software Tool for Hoteliers
Contact: Joe Strodel, Jr., 607-255-4646, js343@cornell.edu
FOR IMMEDIATE RELEASE:
Cornell Obtains Rights to Distribute Market Study, Valuation Software Tool for Hoteliers
ITHACA, NY, March 14, 2005 -- A new management tool is now available from The Center for Hospitality Research at Cornell is the only non-proprietary computer software designed specifically to assist hospitality real estate professionals and hoteliers in the preparation of market studies, forecasts of income and expense, and valuations for lodging properties.
The software tool was developed by Stephen Rushmore, MAI, CHA, President and Founder of HVS International and Jan deRoos, Associate Professor and the HVS International Professor of Hotel Finance and Real Estate at Cornell's Hotel School.
De Roos stated "the software provides an accurate, consistent, and cost-effective way for hospitality professionals to forecast occupancy, revenues and expenses and to produce estimates of hotel value."
The tool consists of three separate software programs written as Excel files along with an operating and use guide. The programs are:
- Room Night Analysis,
- Fixed and Variable Revenue and Expense Analysis,
- Hotel Capitalization Software.
"The tool is utilized by hotel consultants, appraisers, and chief financial officers to implement computer-based forecasts and valuations," said Rushmore. It enables users to evaluate competitive factors such as occupancy, average room rate, and market segmentation of all hotels in a given market.
The tool is available free of charge from the Cornell Center for Hospitality Research via the CHR website. To access the tool, please click on: http://www.hotelschool.cornell.edu/research/chr/pubs/tools/.
About the Center for Hospitality Research
A unit of the Cornell School of Hotel Administration, The Center for Hospitality Research (CHR) sponsors groundbreaking research designed to improve practices in the hospitality industry. The CHR also publishes the award-winning hospitality journal, the Cornell Hotel and Restaurant Administration Quarterly. Under the lead of CHR's 37 corporate supporters, experienced scholars work closely with business executives to discover new insights into strategic, managerial and operational issues. To learn more about CHR and its projects, visit http://www.chr.cornell.edu/.
The Center's supporters are leading organizations in the hospitality industry. Partners & Sponsors - AIG Global Real Estate Investment Corp., Bartech Systems International, Cendant Corporation, Four Seasons Hotels and Resorts, HVS International, JohnsonDiversey, Kohinoor Group, Marsh's Hospitality Practice, Nestlé, Thayer Group of Companies, Willowbend Golf Management, and Wyndham International; Friends - ARAMARK Corporation, D.K. Shifflet and Associates, Ltd., ehotelier.com, Gerencia De Hoteles & Restaurantes, Global Hospitality Resources, Inc., hospitalitynet.org, Hospitality World, Hotel Asia Pacific, Hotel China, Hotel Interactive, Inc., Hotel Resource, Hsyndicate, International CHRIE, Lodging Magazine, Lodging Hospitality, Mobile MoneySaver, National Hotel Executive Magazine, Resort+Recreation, RestaurantEdge.com, Shibata Publishing Co. Ltd., Smith Travel Research, The Hospitality Research Group of PKF Consulting, The Lodging Conference, TravelCLICK, and UniFocus.