Hospitality Consulting Services, LLC.
DO NOT USE THE SOFTWARE UNTIL YOU HAVE READ THE TERMS AND CONDITIONS OF THIS LICENSE AGREEMENT GOVERNING YOUR USE OF THE SOFTWARE AND THE USE GUIDE. USING THE SOFTWARE CONSTITUTES ACCEPTANCE OF THE TERMS AND CONDITIONS OF THIS LICENSE AGREEMENT. IF YOU DO NOT AGREE TO THESE TERMS AND CONDITIONS, YOU SHOULD DISPOSE OF THE SOFTWARE AND ERASE IT FROM ANY COMPUTERS THAT YOU HAVE INSTALLED IT UPON.
License. You acknowledge that you acquired the software from Hospitality Consulting Services, LLC a distributor for Mortgage-Equity Appraisal Software. (MEAS). MEAS hereby grants to you as the recipient of Mortgage-Equity Appraisal Software, a perpetual, non-exclusive, non-transferable license to use the software program and related documentation on a single computer and solely for your own personal use. You may not reverse engineer, decompile, disassemble or modify, or make any copies of, the software. The rights and license granted hereunder are restricted solely and exclusively to you and may not in any way, directly or indirectly, be licensed, assigned, sublicensed, leased, or otherwise transferred by you without the prior written consent of MEAS.
Ownership. Ownership of the software and documentation, and of any copyright, patent, trade secret or other intellectual and property rights therein, are and remain in the future solely and exclusively in MEAS.
Limited Warranty. MEAS warrants that it has the right to grant this license to you. The software program and related documentation are licensed “AS IS” without any warranty or representation, and without any support or right to any corrections, bug fixes, maintenance, modifications, enhancements, improvements or extensions, now or in the future. MEAS, Hospitality Consulting Services, LLC, Stephen Rushmore and HVS do not warrant or represent that the software program will meet your requirements or that the operation of the software program will be uninterrupted or error free. Should the software program prove defective, MEAS, Hospitality Consulting, LLC, Stephen Rushmore and HVS have no obligation or responsibility to you whatsoever. Nevertheless, in the event that MEAS does provide assistance to any user of the software program, all of the limitations with respect to warranties and remedies shall apply to any assistance so rendered. THE WARRANTY IN THE FIRST SENTENCE OF THIS PARAGRAPH IS IN LIEU OF ALL OTHER WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANABILITY AND FITNESS FOR A PARTICULAR PURPOSE.
Limitation of Remedies. IN NO EVENT SHALL MEAS, HOSPITALITY CONSULTING SERVICES, LLC, STEPHEN RUSHMORE AND HVS BE LIABLE TO YOU OR ANYONE ELSE FOR ANY LIABILITY, LOSS OR DAMAGE, INCLUDING WITHOUT LIMITATION, INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE OR CONSEQUENTIAL DAMAGES OF ANY KIND, OR LOSS OR USE OR OTHER ECONOMIC LOSS, EVEN IF MEAS, HOSPITALITY CONSULTING SERVICES, LLC, STEPHEN RUSHMORE AND HVS HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. NOTHWITHSTANDING THE FOREGOING, IN THE EVENT MEAS, HOSPITALITY CONSULTING SERVICES, LLC, STEPHEN RUSHMORE AND HVS IS DETERMINED TO BE LIABLE FOR DAMAGES WITH RESPECT TO THE SOFTWARE AND RELATED DOCUMENTATION, IN NO EVENT SHALL THE AMOUNT OF DAMAGES EXCEED THE AMOUNT OF THE LICENSE FEE PAID THEREFOR.
General. This Agreement may not be modified or waived, in whole or in part, except by a writing, executed by authorized representatives of both parties. This Agreement shall be governed by the internal, domestic laws of the State of New York and shall inure to the benefit of MEAS, its successors and assigns.
YOU ACKNOWLEDGE THAT YOU HAVE READ THIS AGREMENT, UNDERSTAND IT, AND AGREE TO BE BOUND BY ITS TERMS AND CONDITIONS. YOU FURTHER AGREE THAT IT IS THE SOLE AND EXCLUSIVE STATEMENT BETWEEN US WHICH SUPERSEDES ANY COMMUNICATIONS BETWEEN US RELATING TO THE SUBJECT MATTER OF THIS AGREEMENT, AND THAT THERE ARE NO PROMISES, COVENANTS OR UNDERTAKINGS OTHER THAN THOSE EXPRESSLY SET FORTH IN THIS AGREEMENT.
The Mortgage-Equity Appraisal Software and the Operating and Use Guide are provided “as is” without warranty of any kind, either express or implied, respecting the contents of this guide and software, including but not limited to implied warranties for the guide’s and software’s quality, performance, merchantability, or fitness for any particular purpose. The author shall not be liable to any person or entity with respect to any liability, loss, or damage caused or alleged to be caused directly or indirectly by this guide and software. In accordance with the software license, neither the author, nor any entity affiliated with the author (including Hospitality Consulting Services, LLC) will provide any type of software support as part of the distribution of the Software and the Use Guide.
Hotel Market Analysis and Valuation Software 6.0 is the only non-proprietary computer software designed specifically to assist in the preparation of hotel market studies, forecasts of income and expense, and hotel valuations. The software provides the framework, along with the mathematical calculations, to develop detailed forecasts of occupancy, average room rates, revenues and expenses that can be used as a basis for hotel market studies and appraisals. The tool consists of three separate software programs:
· Hotel Market Analysis and ADR Forecasting Model
· Hotel Revenue and Expense Forecasting Model
· Hotel Mortgage-Equity Valuation Model
Hotel Market Analysis Valuation Software was created by Steve Rushmore for his hotel consulting firm- HVS. It has been updated and enhanced by Professor Jan deRoos of the Cornell Hotel School. your business here.
The Hotel Investment Library- Books, Articles and Research on Hotel Investing
The Hotel Investment Library is a collection of timeless books and articles written by Steve Rushmore and his Associates over the past 50 years.
Steve Rushmore, Founder of HVS, pioneered the concept that hotel investing requires in depth knowledge of both hotel operations and real estate. He then literally "wrote the book" on this concept showing the world how to evaluate hotel investments through his eight textbooks, 350+ articles, software and numerous speeches and seminars.
You can now download some of his best books and articles written over the years. Also included are other noted publications and research written by his associates at HVS
Hotel Learning Online- Where hotel owners, operators, lenders and investors come to learn how to make successful hotel investments.
Over the past 40 years, Steve Rushmore has taught hundreds of classes and seminars to more than 20,000 hotel industry professionals. He is also a frequent lecturer at major hotel schools around the world, including Lausanne, Penn State, Cornell, Houston, Glion, Hong Kong Polytech as well as the Harvard Business School.
As a leading authority and prolific author on the topic of hotel market analysis and valuations, Steve has written all six textbooks and two seminars for the Appraisal Institute covering this subject. He has also authored three reference books on hotel investing and has published more than 400 articles.
Now, you can now take courses with Steve without leaving your living room. He is developing a whole series of online courses covering topics such as How to Use Hotel Market Analysis & Valuation Software, Negotiating Hotel Management Contracts, Hotel Mortgage-Equity Valuation Models, How to Buy a Hotel, Hotel Economic Cycles and many more.
If you are serious about your professional growth in the hotel industry, you should consider taking the HVS Certification version of Steve’s course- How to Use Hotel Market Analysis & Valuation Software. By taking this course and successfully completing a final project and passing a comprehensive examination, you will become an HVS Certified Hotel Market Study & Valuation Software Consultant. Adding this certification to your resume and LinkedIn profile will certainly set you apart from all the other job applicants.
Mortgage-Equity Appraisal Software- The Most Accurate Discounted Cash Flow Real Estate Valuation Software Available Anywhere!
If you appraise real estate which is normally purchased with a combination of debt and equity capital and you are not inputting the specific terms of the proposed financing- then you are probably not developing an accurate valuation. The Mortgage-Equity Software provides a proof showing the resulting value accurately produces your specified returns for both debt and equity capital.
If you develop a 5 or 10-year projection of Net Income and the lender and equity investors require specific financing terms and assumptions, there is only one value will produce the desired returns to the debt and equity components. This software model is the only software on the market that will produce the correct value. In addition to estimating value using a specified loan-to-value ratio, the software also estimates value using a debt coverage ratio and a debt yield. Does your DCF model do that?
For the last 30 years real estate appraisers have been using DCF models that assume an all cash buyer. We know most real estate in the United States is financed with a certain amount of debt. If this is the case- shouldn’t you be using a mortgage-equity model with specific financing inputs rather than “pulling an overall discount rate out of the air?”