The term Inn has been and is used for lodging facilities ranging in size and type from high-rise hotels to that of the very small family run lodges. For purposes of our discussion, the term Inn will be used to describe a relatively small lodging facility with few amenities. In some cases they are quaint facilities with themes relating to the past, and in others they can be modern but small and cozy properties, all costing the traveler a modest rate for a good night’s sleep.
Operating Inn properties are normally appraised as Going Concerns, which includes the value of the land, buildings and all personal property used in connection with the operation of the facility including furnishings and business goodwill. Fee Simple appraisals are typically reserved for closed or non-operational properties and typically will not include furnishings unless requested by the client.
ELLIOTT® & Company Appraisers, appraises Inns anywhere in the United States. Our professional staff knows the lodging industry and how to accurately value lodging properties.