Erich Baum

Senior Vice President at HVS

Erich Baum

Erich Baum, CRE, is a Senior Vice President with the HVS Boston office and has performed and overseen thousands of hotel appraisal and consulting assignments throughout North America, including an extensive list of assignments involving residential components and property tax appeal cases. Erich co-authored the 2001 edition of the Appraisal Institute’s hotel valuation textbook, has written numerous previous articles on issues related to hotel appraisal and consulting, and regularly serves as an expert witness. Erich holds the CRE designation, is a state-certified appraiser, and is a graduate of Cornell’s School of Hotel Administration. For more information contact Erich at +1 (603) 502-6625, or [email protected]

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Insights by Erich Baum (9)

The Long Road Back: COVID-19’s Impact On The Boston Lodging Market

According to STR, Boston’s revenue per available room (RevPAR) fell by more than $100 last year, from $147 in 2019 to $42 in 2020, recording a 71.3% decline that was severe by any measure, but also when compared with that of other major metropolitan areas.

Putting the Past to Use Redux - Expense Elasticity in a Downturn

Like restaurants and airlines, hotels offer experiential, temporal products that cannot be inventoried. The COVID-19 pandemic has temporarily reduced hotel demand to near zero; meanwhile, inventory continues to stream into the void unused.

Possessory Interests in Hotel Real Estate

A possessory interest is created when a private-sector tenant is granted exclusive use of real property (land and/or building) that is owned by a tax-exempt entity, typically a municipality or a state or federal government agency.

Supply-Induced Hotel Demand in Portland, Maine: A Case Study

Portland, Maine, is the northernmost outpost of the Atlantic Seaboard, host to a six-month winter and minor league hockey. A small, third-tier city, with steady but slow economic growth, Portland's downtown hotel inventory recently grew from five to ten properties over a six-year period.

Resort With A Real Estate Ownership Component: A Turnaround Case Study

Whether the setting is sun-and-sand, snow-and-ski, or an indoor water park, today's destination resorts commonly feature real estate ownership programs. Structured as whole ownership, fractional ownership, or timeshare, these "residential" condominiums typically feature fully equipped kitchens and multiple bedrooms.
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