Appraisal Economics Inc. has completed a valuation of a ten property hotel portfolio. The hotels, located in the Manhattan and Chicago markets, are part of a luxury boutique hotel chain owned by a closely held company with over 100 years of experience in the hospitality and service industries. The company also provides management services to five unrelated hotel properties. We were engaged to estimate the fee simple market value of the hotels for gift and estate tax planning. Additionally, we determined the fair market value of a minority interest in the company after adjusting for lack of control and lack of marketability discounts.
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