Spending a day in a spa has always been a wonderful personal experience. It is a day that hopefully promises to deliver serenity, calm, warmth, individual attention to your every need, relaxing and a bit of indulgence. But as this industry has evolved, we are seeing more integration of couples treatments, that can, if done properly, deliver an additional perspective. The question yet to be fully understood, is sharing what has normally been a self pampering day really allow for that true individual tranquility? Does the interjection of your significant other interrupt just a little of your "ME" time? And, what about the trend to integrate what would normally be a segregated clothing optional space? READ MORE

Hotel appraisals are often needed during critical times, such as when buying or selling a hotel, gifting your hotel as part of an estate plan, or resolving valuation concerns during marital or partnership dissolutions. Because a significant investment is on the line, hiring the right appraiser to accurately assess your hotel's worth is crucial. An interesting analogy can be drawn between hotels and oysters. Like an oyster, a hotel consists of several parts. The rock that the oyster lies on is analogous to the hotel's underlying land. The shell of an oyster is similar to the building of the hotel. Together, the land and building are the hotel's "commercial property." Finally, an oyster usually has no value without its pearl. Likewise, the combination of land and building in and of itself does not make a hotel. The value of the hotel is in the hotel's business, like the pearl to the oyster. When valuing hotels, all three parts-the land, the building, and the business-need to be addressed. The land and building are usually appraised by real estate appraisers who utilize appraisal methods that are better suited for commercial properties. The business of the hotel needs to be valued by business valuation professionals, who are trained to appraise companies using approaches and methods that cater to the complexities and nuances of business operations. This article focuses on three aspects important to hotel valuations: the differences between hotels and commercial properties; the approaches used to determine their respective values; and important considerations in choosing a qualified business valuation professional to appraise your hotel. READ MORE

There are many factors that directly influence the value of a subject business or hotel, and they can generally be classified under the following three main areas contributing to value: company environment, industry dynamics and economic conditions. These factors then form different aspects of due diligence research. In the following paragraphs, we will discuss the three areas of due diligence research in more detail. READ MORE

Effective and efficient management is one of the most crucial factors to a business' success and survival. An essential responsibility of management is to formulate and execute strategies that increase shareholder value. This is often referred to as strategic planning, which "consists of the process of developing strategies to reach a defined objective. Strategic management is used by businesses to provide overall direction for company operations and establish specific goals and duties in the areas of marketing, finance, human resources, and information technology. READ MORE

If you are not developing a project in California and think this article is irrelevant, keep reading because the California Environmental Quality Act("CEQA") is the model for future regulations in your jurisdiction. We will highlight how CEQA shapes development projects but more importantly how politicians, organized labor, and environmentalists often leverage the CEQA approval process to further their self-interests at the expense of developers and communities. READ MORE