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Hotval Toolkit, Crocker H. Liu 2019 Cornell University School of Hotel Administration

Hotval Toolkit, Crocker H. Liu

Center for Real Estate and Finance Tools

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Scroll down to "Additional Files" to access the HOTVal Toolkit.

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HOTVal is a hotel valuation spreadsheet based on a regression model discussed in the Center for Real Estate and Finance at Cornell called Cornell Hotel Indices: Second Quarter 2012: The Trend is Our Friend by Crocker H. Liu, Adam D. Nowak, and Robert M. White, Jr. The model which will be continually updated, provides a rough estimation of the value of a hotel property once the user inputs information on whether the hotel is a large or small hotel, the year and quarter of the valuation, the state where the ...


Revitalizing The Street Of Dreams: A North 24th Street Case Study, Tiffany Hunter 2019 University of Nebraska at Omaha

Revitalizing The Street Of Dreams: A North 24th Street Case Study, Tiffany Hunter

Theses/Capstones/Creative Projects

The purpose of this study is to analyze the North 24th Street corridor in Omaha, Nebraska, to highlight the benefits of investing in commercial real estate development, propose tools for financing new development or redevelopment projects, and to suggest methods of building a coherent development plan to avoid gentrification. Commercial development provides the following: quality business space, accessible jobs for an underemployed populace, additional tax revenue, and a reduction in community detriments such as crime, empty lots, and low property values. The North 24th Street corridor has economic potential, as it is less than one mile from downtown ...


The Hurdles To Financing Modular Development, Daniel Feutz 2019 Cornell University

The Hurdles To Financing Modular Development, Daniel Feutz

Cornell Real Estate Review

Revenues from the permanent modular construction (PMC) sector jumped 62% in one year to reach $3.3 billion in 2016 and its quick growth has not gone unnoticed. The industry has attracted investment from sources such as Soft Bank’s Vision Fund and Amazon’s Alexa Fund, an indication of the perceived feasibility of modular building that is further illustrated in PMC’s growing market share that increased 37% from 2014 to 2017 (Bousquin, 2019). Rising construction costs, tight labor markets, and an unprecedented demand for housing have pushed modular construction towards being one of the disruptors of an industry ...


Rising Tourism In Saudi Arabia: Implications For Real Estate Investment, Ali S. Daye 2019 Cornell University

Rising Tourism In Saudi Arabia: Implications For Real Estate Investment, Ali S. Daye

Cornell Real Estate Review

Over the last few years, the Kingdom of Saudi Arabia (KSA) has pursued a more aggressive approach towards economic diversification in order to plan for the future of its youth as nearly 60 percent of the country’s 3 million citizens are under the age of 30 (KSA-General Authority for Statics, 2017). Saudi Arabia traditionally has relied heavily on the public sector to absorb many of the educated Saudi nationals. However, the country is now looking to the private sector to create more jobs for its burgeoning population and has enacted policies that ease doing business in the country and ...


Modular Construction: A Solution To Affordable Housing Challenges, John Thompson 2019 Cornell University

Modular Construction: A Solution To Affordable Housing Challenges, John Thompson

Cornell Real Estate Review

The lack of affordable housing is pervasive across the United States. It affects some locations more severely than others, with each having unique challenges. Construction and land acquisition costs are frequently cited as primary drivers of multi-family housing development, and affordability is determined by a geography’s housing costs versus its median income. This paper highlights crucial components in the connection between economic conditions, public policy, and affordable housing development. It focuses on how efficiencies in modular construction present opportunities for addressing specific challenges in Maine and will propose a strategy for public-private cooperation, particularly in the site selection process ...


Opportunity Zones And New Orleans: A Chance For Affordable Housing Growth, Wilson Blum 2019 Cornell University

Opportunity Zones And New Orleans: A Chance For Affordable Housing Growth, Wilson Blum

Cornell Real Estate Review

In the year and a half since their introduction, Opportunity Zones have quickly become one of the hottest topics in real estate development. This exciting program offers a new chance to revitalize distressed communities around the country by significantly broadening the pool of potential investors and providing them with enticing incentives to pull their money out of the market and into these locales. The success or failure of the program will hinge on the ability of public-private partnerships to bridge an often fraught line between outside investment and local community. In addition to providing an overview of the Opportunity Zone ...


The U.S. Student Housing Market: Overlooked Opportunities, Joseph A. McFalls 2019 Cornell University

The U.S. Student Housing Market: Overlooked Opportunities, Joseph A. Mcfalls

Cornell Real Estate Review

Student housing has emerged in recent years as one of the most in-demand asset classes in commercial real estate. Investors, both domestic and international, have been attracted to U.S. student housing projects for many reasons, including their steady yields and reliable returns during all market cycles (The Economist, 2018). As a result, investment in and development of student housing has increased dramatically over the past few years (Brass, 2018). Even with this increased focus on the sector, opportunities still remain in the student housing industry, particularly for investors and developers with differentiated projects. This paper will examine the current ...


Tailwinds On The U.S. Gulf Coast: How The Boom In U.S. Energy Production Is Creating Opportunities For Real Estate Investment, Christopher Trahan 2019 Cornell University

Tailwinds On The U.S. Gulf Coast: How The Boom In U.S. Energy Production Is Creating Opportunities For Real Estate Investment, Christopher Trahan

Cornell Real Estate Review

The Federal Government’s commitment to deepen the Mississippi River channel and its decision to allow the exportation of crude have created many opportunities in the U.S. Gulf Coast region for private investment and development. Yet the country’s resurgence in energy production is temporarily impeded by a lack of sufficient infrastructure necessary to match supply with demand. As the glut of U.S. crude and demand for infrastructure increases, the need for industrial facilities on the Gulf Coast continues to grow. These facilities are essential to economic development along the nation’s southern energy corridor. The real estate ...


A Taxonomy Of Coworking Space: Manhattan, Nyc, Yaoyi Zhou 2019 Cornell University

A Taxonomy Of Coworking Space: Manhattan, Nyc, Yaoyi Zhou

Cornell Real Estate Review

The growth in the coworking inventory has accelerated over the past years, with more than 5 million square feet of new space flooding into the market in each of the past three years (Cushman & Wakefield, 2018). In 2018, over 200 coworking companies that operated in the U.S. had at least one location larger than 5,000 square feet. As competition increases, coworking markets enter periods of “specialization” in spaces of various size, business plans and clientele (Brown, 2016; Diduch, 2018), however, the lack of analysis of these characteristics make it difficult to understand the current supply of coworking space on the market.


Research Articles, 2019 Cornell University School of Hotel Administration

Research Articles

Cornell Real Estate Review

No abstract provided.


Baker Program, 2019 Cornell University School of Hotel Administration

Baker Program

Cornell Real Estate Review

No abstract provided.


2018 Institutional Real Estate Allocations Monitor, Survey Highlights, 2019 Cornell University School of Hotel Administration

2018 Institutional Real Estate Allocations Monitor, Survey Highlights

Cornell Real Estate Review

[Excerpt] Cornell University’s Baker Program in Real Estate and Hodes Weill & Associates are pleased to present the findings of the sixth annual Institutional Real Estate Allocations Monitor (the “2018 Allocations Monitor”). The 2018 Allocations Monitor focuses on the role of real estate in institutional portfolios, and the impact of institutional allocation trends on the investment management industry. Launched in 2013, the 2018 Allocations Monitor is a comprehensive annual assessment of institutions’ allocations to, and objectives in real estate investments. This report analyzes trends in institutional portfolios and allocations by region, type and size of institution.


36th Annual Cornell Real Estate Conference Recap, 2019 Cornell University School of Hotel Administration

36th Annual Cornell Real Estate Conference Recap

Cornell Real Estate Review

[Excerpt] On October 19, 2018, the Cornell Real Estate Council (CREC) hosted the 36th annual Cornell Real Estate Conference in New York City. The conference brought together hundreds of industry professionals, alumni and current students for a day of networking and panel discussions surrounding recent trends. Cornell’s unparalleled alumni network within the real estate community facilitated a broad exchange of innovative ideas applicable across the industry, from design and construction to development and finance. Highlighting a “Focus on the Future,” five panel discussions, including keynote Speaker Seth Klarman (CAS ’79) and 2018 Industry Leader Award Recipient Kenneth Himmel (JCB-Hotel ...


Real Estate Industry, 2019 Cornell University School of Hotel Administration

Real Estate Industry

Cornell Real Estate Review

No abstract provided.


Domestic Trek: Los Angeles, California, 2019 Cornell University School of Hotel Administration

Domestic Trek: Los Angeles, California

Cornell Real Estate Review

[Excerpt] On the first day of the Baker Program’s Los Angeles trek, students visited Tustin Legacy, a 1600-acre development that is among the largest undeveloped land in Southern California. This site was constructed and commissioned shortly after Pearl Harbor as a Lighter-Than-Air (LTA) facility to patrol the Pacific coastline with manned blimps. At one point, as many as 12 blimps operated from two hangars on the site. The hangars, two of the largest wooden structures ever built, are over seventeen stories high, 1,000 feet long and 300 feet wide. Listed on the National Register of Historic Places, the ...


International Trek: Shanghai, China, 2019 Cornell University School of Hotel Administration

International Trek: Shanghai, China

Cornell Real Estate Review

[Excerpt] Beginning their international trek, the Baker Program in Real Estate students visited the Colliers International office in Shanghai. The firm currently has 15,000 professionals and staff in 396 offices in 68 countries across six continents. Colliers has two billion square feet under management and $2.6 billion in annual revenue. Colliers Shanghai is the regional headquarters for east China and the company’s largest office in the country. This office provides a full range of services for industrial, office, retial and residential. Its landmark Shanghai projects include Platinum, L’Avenue, Ecocity, Chamtime Corporate Avenue, and Longyu International Plaza ...


Case Competitions, 2019 Cornell University School of Hotel Administration

Case Competitions

Cornell Real Estate Review

[Excerpt] Cornell University continued its strong showing this past year in several case competitions across the country winning 1st place in the Argus University Challenge, 3rd place at the University of Miami Impact Investing Competition, and an Honorable Mention at the UT Austin National Real Estate Case Competition and the ULI-Hines Student Competition. Teams also participated in the Kellogg Real Estate Venture Competition at Northwestern University.


Alumni Highlight: Jiwon Park (Baker/Mba '18), Samsung, 2019 Cornell University School of Hotel Administration

Alumni Highlight: Jiwon Park (Baker/Mba '18), Samsung

Cornell Real Estate Review

Jiwon Park is a member of the real estate investment team in the asset management department of Samsung Fire & Marine Insurance. A 2018 graduate of Cornell’s Baker Program in Real Estate and the Johnson School of Management, Jiwon served as a Research Associate at Hodes Weill & Associates in New York as well as at an asset management firm in Los Angeles while at Cornell. Prior to Cornell, she worked at JLL Korea. Jiwon is a graduate of the University of Southern California with a double major in accounting and real estate finance.


Alumni Highlights: Ravikanth Pamidimukkala (Baker '17), Redsky Capital, Llc, 2019 Cornell University School of Hotel Administration

Alumni Highlights: Ravikanth Pamidimukkala (Baker '17), Redsky Capital, Llc

Cornell Real Estate Review

Ravikanth (Ravi) Pamidimukkala is an Associate at RedSky Capital, LLC, in New York City. A 2017 graduate of Cornell’s Baker Program in Real Estate, Ravi interned with First Capital Real Estate Advisors, LP, during the program. Before joining the Baker Program, Ravi worked in ground-up development and acquisitions for mixed-use, luxury residential, and hospitality asset classes in South East Asia and India. He holds a Bachelor’s degree from the Indian Institute of Technology Kharagpur and a Master’s of Professional Studies at Cornell University.


Highlights: Wx New York Women Executives In Real Estate, Krizia Calmet 2019 Cornell Real Estate Women

Highlights: Wx New York Women Executives In Real Estate, Krizia Calmet

Cornell Real Estate Review

[Excerpt] For the fourth consecutive year, the Cornell Center for Real Estate and Finance and Cornell Real Estate Women hosted its annual WX Panel Discussion held at Statler Hall on March 11. WX New York Women Executives in Real Estate is an invitation-only association for New York’s executive-level women actively engaged in the commercial real estate industry. Through networking opportunities and educational seminars, WX promotes the advancement of women in the industry for its diverse membership of owners, developers, brokers, architects, engineers, bankers, and lawyers.

Sylvia Melikian (MBA ’76) moderated the four member panel of distinguished WX executives who ...


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