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The borrowing cost of debt financing continues to remain stable, while the cost of equity financing has declined relative to the previous period. Mixed signals exist as to the future direction in the price of large hotel properties near term but prices for small hotel properties should continue to rise in the next quarter. We continue to hope that operating performance as measured by EVA will finally become positive at best and or continue to remain at breakeven at worst. This is report number 14 of the index series.


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Supplemental File:
Hotel Valuation Model (HOTVAL)
We provide this user friendly hotel valuation model in an excel spreadsheet entitled HOTVAL Toolkit as a complement to this report which is available for download from

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