Daniel H. Lesser has specialized in real estate appraisals, economic feasibility evaluations, investment counseling, and transactional services of hotels, resorts, conference centers, casinos, and timeshare properties on a worldwide basis for the past 28 years. He currently serves as the senior managing director-industry leader of the Hospitality & Gaming Group at CB Richard Ellis (CBRE). He can be reached at (212) 207.6064 or Daniel.lesser@cbre.com.
The dramatic decline in United States hotel operating metrics and asset values during the Great Recession were much more severe than the downturns that took place during the Gulf War nearly 20 years ago and then immediately following 9/11. An analysis of the fundamental drivers of the U.S. hotel business compared with early 2009 demonstrates some of the reasons for the recent turnaround of the se...
HotelNewsNow.com (HNN) | Wednesday 15 December 2010
The recent vote by the New York City Council approving construction of 15 Penn Plaza, a 1.3-million-square-foot office building on the site of the Hotel Pennsylvania in Manhattan, is most likely the final chapter of this storied hotel’s economic life. The approved development plan, similar to the seven new skyscrapers that are proposed in New York City during the next decade, is reflective of the...
HotelNewsNow.com (HNN) | Tuesday 14 September 2010
All types of real estate investments, including hotel facilities, have life cycles that reflect a rise and fall of net operating income during a property’s economic life. A renovated, repositioned or brand new hotel experiences rising occupancy and/or average room rate levels during the first two to five years of operation/ownership. Hotel investors project income and expenses for the first sever...
