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06. Eight Rules

John CorgelJohn B. Corgel, Hotel Administration, compiled and analyzed the results of several studies, including his own research, on hotel markets. This consolidation of the knowledge gained from studying hotel markets over the past two decades, previously scattered across the professional and academic literature, covers hotel space markets, equilibrium in hotel markets, cyclical patterns, leads and lags, overbuilding, hotel capitalization rates, the behavior of transacting parties, and debt-financing alternatives. Corgel developed eight rules for competing in the hotel real estate markets. Rule two, for example, states, “One has to keep the benchmarks handy (including such measurements as market equilibrium).”

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