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


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 property is located, the number of rooms, the number of floors, the land area of the hotel property, the actual age of the hotel and whether the hotel is located in a Gateway city. For the first three inputs as well as the last input, if the user clicks on a cell highlighted in yellow, a pull down menu will appear to expedite inputting. The model is provided as a free public service by The Center for Real Estate and Finance at the School of Hotel Administration at Cornell University to academics and practitioners on an as-is, best-effort basis with no warranties or claims regarding its usefulness or implications. The estimates should be considered preliminary and subject to revision.

*This January 2020 version updates the previous Hotel Valuation model, originally published in 2012, and provides valuation estimates up to and including the fourth quarter of 2019.


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© Cornell University.This report may not be reproduced or distributed without the express permission of the publisher.

Copy of HOTVal Toolkit (Revised 2020Jan11).xlsx (33 kB)
HOTVal Toolkit January 2020

Liu_HOTVAL_tool.xlsx (31 kB)
HOTVal Toolkit

HOTVal Toolkit (Revised 2018Apr15).xlsx (33 kB)
HOTVal Toolkit Q1 2018

HOTVal Toolkit (Revised 2018Jul13).xlsx (33 kB)
HOTVal Toolkit Q2 2018

HOTVal Toolkit (Revised 2019Jan08).xlsx (33 kB)
HOTVal Toolkit January 2019

Copy of HOTVal Toolkit (Revised 2019July09).xlsx (33 kB)
HOTVal Toolkit July 2019

Copy of HOTVal Toolkit (Revised 2019Oct11).xlsx (33 kB)
HOTVal Toolkit October 2019

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