Dream Pursuit Appraisal to Heighten Focus on Office and Hotel Appraisals
Dream Pursuit Appraisal based in Calgary has announced a drastic expansion of its suite of offerings. The firm with more than 2 decades of experience in commercial and housing real estate has an impressive client base and growth rate.
Accordingly, it will be adding more services and personnel in portfolio valuation, single-asset valuations, commercial appraisals, right-of-way valuation, lease appraisals, cost analysis, feasibility analysis, and litigation data support.
According to the CEO, the expansion will see more hiring of valuation professionals in all types of commercial and residential properties. It is aiming for a further leg up in office appraisal Calgary along with properties in the hospitality sector such as hotel appraiser Alberta services.
Dream Pursuit Appraisal also wants to shorten the turnaround time in its assessment operations from the existing two to three weeks and will submit reports within 10 days.
In office appraisal Calgary, Dream Pursuit Appraisal teams of appraisers follow strict ethics dictated by the Uniform Standards of Professional Appraisal Practice (USPAP) with its unbiased reports.
The quality control department will be made multi-layered with more senior experts vetting the appraisals of field teams to make sure clients get concise and timely output. The CEO noted that in all assignments, dispositions, acquisitions, or leasing, the property value is derived from a vast data and the corresponding insights.
Hotel Appraiser Alberta is a challenging field as the parameters vary. In the case of new hotels, the elements to consider are current land value, property replacement costs, and depreciation factors.
In assessing an established hotel’s value, more factors will have to be investigated. They include current and estimated future sales, revenue, intangible assets, income, and expenses, among others.
The CEO is expecting a surge in client base at least by 35 percent in the next quarters as industry stakeholders have appreciated the value and efforts behind unbiased reports that won the trust of all stakeholders.
When it comes to hotel appraising it is more challenging as tangible and intangible assets and factors like brand appeal, reputation, service quality, location value, and overall charm have to be looked into.
That defies applying any uniform formula. Revenue formulas are also used in hotel appraisals. They include room revenue multiplier (RRM), total revenue, gross income, net operating income, profit, cap rate, ADR, and Revenue Per Available Room, The thumb rule in calculating NOI is that it must be a thousand times its ADR.
