Service: Asset Valuation & Advisory | Sector: Hotels
We have been instructed by easyHotel to value their portfolio of limited service hotel assets for a range of purposes, including for financing and accounting. The portfolio includes thirteen hotels comprising a mix of freehold, long leasehold and short leasehold assets. The majority of hotels are in the UK, however, there were two in France and one in Spain.
The first valuation we provided pre-dated the COVID-19 pandemic; the second valuation, which was for accounting purposes, was required in September 2020 and we therefore had to give full consideration as to the impact of the COVID-19 pandemic on hotel performance. This involved tracking the market and applying our knowledge of an ever-changing situation to our valuation and reviewing the impact of COVID-19 on a large operational hotel portfolio.
As hotel valuation experts, the impact that the pandemic has had on the hotel industry has been of prime importance to us.
Throughout the pandemic, the hotels team has kept abreast of all market changes, consulting both in-house and external sources to ensure we apply the most accurate and up-to-date information to our valuations. As specialist hotel valuers, we were best placed to value the portfolio in such uncertain times holding over 60% of branded hotel KPis in the UK.
We were able to provide the client with a valuation of the portfolio alongside a thorough review and analysis of the market. Given such uncertain times, after the valuation report was submitted we had a number of follow up discussions with client to help inform them further and their operational modelling.