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[Excerpt] Land development includes acquisition of land, securing zoning changes from local governments, installation of infrastructure improvements to land such as streets and utilities, and constructing buildings to generate revenue. In this chapter, we discuss those processes as they relate to developing hospitality properties—a process far more complex than that associated with other commercial real estate.


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© Wiley. Final version published as: Corgel, J. B., deRoos, J. A., & Fitzpatrick, K. (2011). Developing and renovating hospitality properties. In M. C. Sturman, J. B. Corgel, & R. Verma (Eds.), The Cornell School of Hotel Administration on hospitality: Cutting edge thinking and practice (pp. 309-320). New York, NY: Wiley. Reprinted with permission. All rights reserved.