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Author Bio

Stephen Rushmore

Stephen Rushmore is President and Founder of HVS, a global hospitality consulting organization with offices in New York (Mineola), San Francisco, Miami, Boulder, Dallas, Vancouver, Toronto, São Paulo, Buenos Aires, London, New Delhi, Singapore, Madrid, and Sydney. He directs the worldwide operation of this firm and is responsible for future office expansion and new product development. Mr. Rushmore has provided consultation services for more than 12,000 hotels throughout the world during his 35-year career and specializes in complex issues involving hotel feasibility, valuations, and financing. He was one of the creators of the Microtel concept and was instrumental in its IPO.

Articles by Stephen Rushmore (27)

How to Test Hotel Feasibility

The process I like to use for determining whether a proposed hotel is economically feasible is to compare the total project cost (including land) with the hotel's estimated economic value on the date it opens. A feasible project is one where the economic value is greater than ...

Making Sense Of Debt Yield Ratios

When applying for a mortgage on your hotel, it is usefull to understand the various analytical tools lenders use to evaluate the size and terms of the loans they are making. Until a few years ago, the preferred becnhmark lenders used was the debt coverage ratio. recently, a ...

Making Sense Of Low Cap Rates

We've recently seen a number of hotel transactions showing capitalization rates below 5%. In fact, some major transactions were yielding cap rates of only 2% to 3%. In the past, the standard hotel cap rate generally ranged from 8% to 12%. Why are cap rates so much lower today, ...

Transactions Ready To Start Flowing

Steve Rushmore's April 2010 article for Lodging Hospitality. In a typical year, 400 to 500 hotels change hands in the U.S. This volume of transactions is significantly higher than any other region of the world. With the massive recession contributing to a huge erosion of operating ...