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The New Floor: What Older Office Sales Say About Value, Assessments and Reuse
Chicago Loop office buildings built before 1932 sold in 2024 and 2025 at a repeat-sale price index of 15, against 100 in 2016 to 2019. Assessments have not followed: in eight recent sales they implied a median of about 2.4 times the price paid.
When an assessment asks a hotel to do what it never has
Every assessed value on a hotel asserts that it can fill its rooms at a given rate and cost. This paper shows a repeatable test, run on three disguised hotels in Minnesota, Texas and Vermont, of whether an assessment asks for performance the hotel has never achieved.
Valuing a Hotel Management Company: Read the Hotels Behind the Fees
A hotel management company is worth what the hotels behind its fees will keep paying. Learn how to read competitive position, contract survival and owner economics, then turn them into a defensible multiple, with a hypothetical worked example of a downside case.
Depreciation and Effective Age
A methodology whitepaper for inclusion in report addenda. Written for an intelligent reader who is not an appraiser.
The loyalty paradox: when AI books the room, who owns the guest relationship?
A traveler planning a three-night stay opens a chat window and types a request that sounds less like a search query and more like a conversation with a trusted concierge: a quiet room, a decent gym, a walkable neighborhood, flexible cancellation, a late arrival. The assistant asks a question or two, then offers a shortlist with crisp tradeoffs and a tone of calm authority. The traveler picks one. The assistant replies: ready when you are. Book?