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Opinion Article Development

The Economic Life of Economy Hotels

This article evaluates the economic life of economy hotels given normal wear-and-tear. The life of these hotels is plotted on a frequency distribution, and an average economic life is found. Economic life is an important component in determining development feasibility of hotels. Economic life is defined in the Appraisal Institute's Dictionary of Real Estate Appraisal as "the period over which improvements to real property contribute to...

Hans Detlefsen
By Hans Detlefsen, Managing Director of HVS Global Hospitality Services, HVS
United States
Development USA & Canada United States
Hans Detlefsen
Hans Detlefsen
Managing Director of HVS Global Hospitality Services, HVS

Hans Detlefsen, MPP, MAI, is Managing Director of HVS Global Hospitality Services in Chicago, which is dedicated to objective and independent hotel appraisals and consulting. His clients include major hotel corporations, investment banks, lenders, equity investors, owners, operators, tourism agencies, nonprofit organizations, state and local governments, and private developers.

HVS
Consultant

HVS is the world's leading consulting and services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Established in 1980, the company performs more than 2,000 assignments per year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe.

WoodSpring Suites
Brand by Choice

Franchised by Choice Hotels, WoodSpring Suites hotels offer extended stay guests a welcoming environment and straightforward stay – all affordably priced. Each property is newly constructed and built to anticipate the needs of travelers looking for a longer-term stay. Properties feature all-suite rooms with fully equipped kitchens, flexible workspaces, and guest laundry facilities.

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