TY - JOUR
T1 - Evaluating hotel time-to-delivery (TTD)
T2 - Influencing factors and financial performance
AU - Robert, Jeffrey G.
AU - O’Neill, John W.
N1 - Publisher Copyright:
© 2021 American Real Estate Society.
PY - 2021
Y1 - 2021
N2 - The assumptions real estate developers make regarding hotel development have a significant effect on the net present value (NPV) and internal rate of return (IRR) of the proposed project. While controlling for major hotel characteristics, we study the effect of hotel time-to-delivery (TTD), consisting of both planning and construction time, on the performance of hotel operations: occupancy, average daily rate, and revenue per available room after completion. These results will inform hotel real estate developers, operators, and analysts because the duration of development serves as a detrimental influence on the initial prospects of a hotel development project.
AB - The assumptions real estate developers make regarding hotel development have a significant effect on the net present value (NPV) and internal rate of return (IRR) of the proposed project. While controlling for major hotel characteristics, we study the effect of hotel time-to-delivery (TTD), consisting of both planning and construction time, on the performance of hotel operations: occupancy, average daily rate, and revenue per available room after completion. These results will inform hotel real estate developers, operators, and analysts because the duration of development serves as a detrimental influence on the initial prospects of a hotel development project.
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U2 - 10.1080/09277544.2021.1906540
DO - 10.1080/09277544.2021.1906540
M3 - Article
AN - SCOPUS:85114112002
SN - 0927-7544
VL - 29
JO - Journal of Real Estate Literature
JF - Journal of Real Estate Literature
IS - 1
ER -