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Estimating the Foreclosure Discount in Financially Distressed Hotels
dc.contributor.author | Singh, Amrik | |
dc.date.accessioned | 2024-03-18T03:52:43Z | |
dc.date.available | 2024-03-18T03:52:43Z | |
dc.date.issued | 2020 | |
dc.identifier.uri | https://thuvienso.hoasen.edu.vn/handle/123456789/15015 | |
dc.description | Cornell Hospitality Quarterly 1–17 | vi |
dc.description.abstract | This study investigates the magnitude of the distress sale and foreclosure sale discount in financially distressed hotels by determining the influence of financial distress conditions on hotel transaction prices. Using a hedonic pricing model and a sample of 6,340 distressed and non-distressed transaction prices from 2008 to 2016, the study’s results show a significantly negative effect of financial distress on the pricing of distressed hotels. In particular, the estimated discount is 33% for an auction/trustee sale, 30% for a short sale, 42% for a foreclosure sale, and 44% for a real estate owned (REO) sale, all relative to non-distressed normal market sales. | vi |
dc.language.iso | en | vi |
dc.publisher | The Author(s) | vi |
dc.subject | lodging; financial distress; discount; CMBS; foreclosure | vi |
dc.title | Estimating the Foreclosure Discount in Financially Distressed Hotels | vi |
dc.type | Article | vi |
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