Continuing on the Path to Recovery
In an abbreviated edition of his semi-annual podcast to members of the CCIM Institute, RERC's Ken Riggs noted that while investors remain nervous about the volatility we are seeing in the stock and bond markets, much equity is still sitting on the sidelines "looking for a home." Commercial real estate—and the reduced amount of risk associated with this investment alternative—is looking decidedly more attractive. Even so, investors are taking the time to “get it right” during this prolonged recovery period…
2010 To Be Another Tough Year
RERC's Ken Riggs notes that while institutional real estate has been forced to mark to market and prices are close to bottoming out, the broader commercial real estate market still has a ways to go and it will take some time to "come clean." Listen to Riggs' view of what the industry and investors should expect in 2010 and beyond.
Dealing with a Distressed Market
As the process of repricing and an increasing number of distressed properties create more uncertainty for investors, commercial real estate is facing its greatest challenges since the 1990s. What should investors expect over the near term?
The Impact of Cap Rates on Values
From a pricing and value perspective, the institutional commercial equity real estate markets are facing headwinds that were never imagined a couple years ago. RERC's required cap rates have increased and now stand at 8.4 percent, which is very close to the level recorded in first quarter 2004. The question is, how much further--if at all--will they increase? (The complete article, "Valuation Navigates Steep Cliffs," is provided in the summer 2009 issue of the RERC Real Estate Report.)
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RERC Hospitality
RERC Hospitality offers property lenders, developers, investors, management firms, and owners the unique blend of research-based analytics and hands-on valuation and performance expertise for which RERC is known.
RERC's consultation experience and skill have assisted our clients through engagements involving more than 600 hotels, resorts, golf courses, and other hospitality-related real estate projects in nearly every state in the United States, Caribbean, and Mexico. Significant past assignments include:
- Arizona - Sheraton Old Town Albuquerque (Albuquerque), Scottsdale Plaza Resort (Paradise Valley), Hyatt Regency-Phoenix (Phoenix), Hermosa Inn (Scottsdale), Royal Palms (Scottsdale), Scottsdale Conference Resort (Scottsdale), Scottsdale Plaza Resort (Scottsdale), Tempe Mission Palms (Tempe), La Paloma Resort (Tucson)
- Vail Cascade Resort & Spa (Vail)
- Washington, D.C. area - Washington Hilton & Towers (D.C.), Capitol Hilton (D.C.), Renaissance Tech World (D.C.), Sheraton Crystal City (Arlington, VA)
- Florida - National Hotel (Miami Beach), Omni Resort at ChampionsGate (Orlando/Disney World area), Marriott Sawgrass Resort & Beach Club (Ponte Vedra), The Peabody (Orlando)
- Chicago - Ritz-Carlton, Chicago Hilton and Towers, Palmer House Hilton
- New York (Manhattan) - Algonquin Hotel, Crown Plaza, New York Hilton and Towers, Park Central Hotel, The Muse Hotel, Waldorf-Astoria
- Texas - Gaylord Texan (Dallas/Ft. Worth), Ritz-Carlton (Houston), Hotel Intercontinental (Dallas), Four Seasons (Las Colinas), Hyatt Regency Hill Country (San Antonio)
- Golf - Robert Trent Jones Golf Train (Eight courses in AL), Indian Wells Country Club (Indian Wells/Palm Springs area, CA)
(For a more comprehensive list of past assignments, please contact Greg Kendall at gkendall@rerc.com or Steve Thompson at sthompson@rerc.com.)
With RERC Hospitality's comprehensive market supply and demand research and thorough analysis, clients receive reliable opinions in a variety of report options - from the most basic "market snapshot" to the selection of the best site, or from the appropriate franchise for a proposed project to complete financial projections. Since current and prospective market conditions are critical to a facility's value, we also include in each appraisal the same comprehensive analysis of market conditions as required in a feasibility study.
Specific real estate services offered by RERC Hospitality include:
- Market Feasibility Studies
- Development Services
- Hospitality Franchise and Economic Impact Studies
- Evaluations and Financial Projections
- Litigation Services
- Appraisal Services
For more information about services offered by RERC Hospitality, please contact Greg Kendall at 251.648.2959 (gkendall@rerc.com) or Steve Thompson at 713.661.8880, ext. 115 (sthompson@rerc.com).