Considered high-risk/high-reward investments, hotels may be the most challenging type of asset to value. Combining real estate with an operating business, hotels have high operating leverage and economic sensitivity, and they are management, marketing, energy and capital intensive. Despite this, hotels generally generate favorable long-term yields among institutional-quality real estate investments. Proper valuation requires a combination of strong valuation fundamentals, detailed operational knowledge and real-time access to proprietary competitive trends. These skills represent the starting point for the PwC Hospitality & Leisure valuation team.
Fully dedicated to the lodging industry, PwC professionals hold the highest designations in appraisal certification (MAI) and real estate consulting (CRE). Combining financial expertise with industry knowledge, we help our clients understand the issues that underlie value and provide them with the most comprehensive and reputable valuation services in the hospitality industry. We recognize the individuality of each valuation engagement and develop a scope of services that emphasizes the most important issues. While fundamental valuation theory applies across all projects, each hospitality asset's unique characteristics are critical to accurately understand its underlying value. Our extensive range of industry valuation expertise can help you resolve issues involving:
PwC's hospitality and leisure clients benefit from our responsiveness, efficiency, accuracy, commitment to using the best industry data, renowned research and econometric models, and comprehensive analysis. Our extensive engagement experience, combined with access to more databases featuring richer informational data, often makes us the first choice for many high-profile institutions, lenders and owners, and we are frequently called upon to perform valuations too complex or too large for other firms. Whether valuing partnership interests, appealing tax assessments, exercising transactions options or securing financing, we provide you with sound and comprehensive analysis from which to base critical business decisions. Further, we provide litigation support services to stand behind our analyses in a legal environment or for use in disputes requiring expert testimony.