Page 106 - Demo

Ñîñòîÿíèå ãîñòèíèö ïðèâåäåíî ëàêî- íè÷íî è íåïîíÿòíî. cл3K%*= !е*%...“2!3*- ц, " 2008 г. , !ем%...2 " 2003 г. ...е"%ƒм%›...% “%C%“2=",2ь " C!,...ц,Cе. m%, д=›е е“л, K/ !ем%...2 2003 г. дел=л“ ...= 2%м ›е 3!%"...е, ч2% , !е*%...“2!3*ц, , ïÿòü ëåò – ýòî ñðîê ïåðåõîäà íà äðóãîé óðîâåíü ðàñõîäîâ íà òåêóùèå ðåìîíòû è îò÷èñëåíèé â ðåçåðâ íà çàìåùåíèå. Š% е“2ь, !=ƒ...= “2%,м%“2ь, = ƒ...=ч,2 ...е%K.%д,м% "...е“е...,е *%!!е*2,!%"%*.
nче",д...%, ч2% дл *%!!е*2...%г% “!="...е..., 2!еK3е2“ K%льше .леме...2%", = ,мею?,е“ "/ƒ/"=ю2 “л%›...%“2, “ %K%“...%"=...,ем.
o!,"еде....../е "/ше ,“2%ч...,*, ...е 3дел - ю2 “3?е“2"е......%г% "...,м=..., C!%це““3 %2K%!= %KAе*2%"-=...=л%г%" , %K%“...%"=...,ю “%C%“2=",- м%“2, .*%...%м,че“*,., м=2е!,=ль.../., 2е....,че- “*,. , д!3г,. .=!=*2е!,“2,*. o!едC%л=г=е2“ , ч2% " C!%це““е =...=л,ƒ= ƒ...=ч,м%“2, це...%%K!=- ƒ3ю?,. -=*2%!%" м%›...% K3де2 C%*=ƒ=2ь “%C%- “2=",м%“2ь =...=л%г%" “ %KAе*2%м %це...*,. m%, *=* C%*=ƒ/"=е2 д=›е C!,"еде....../L C!,ме!, áåç îáðàùåíèÿ ê îïåðàöèîííîé äåÿòåëü- íîñòè ïûòàòüñÿ ñîçäàòü äàæå îòíîñèòåëü- íî êîððåêòíûé ðàñ÷åò ïî÷òè íåâîçìîæíî.
Çàðóáåæíûå èñòî÷íèêè13
nK/ч...% ме2%д !/...%ч.../. “!="...е...,L ...=ƒ/- "=ю2 ме2%д%м C! м%г% “!="...е..., ,л, “!="- ...е..., C!%д=›.
b *=че“2"е ед,...,ц “!="...е..., 2%›е ,“- C%льƒ3е2“ це...= ƒ= ...%ме! (Price per room). o%*=ƒ=2ель %C!едел е2“ , *=* %це...%ч...= ,л, C!%д=›...= це...= ƒ= ...%ме!, %2!=›=е2 2е*3?,L 3!%"е...ь це... “дел%* (C!%д=›) г%“2,...,ц.
Ðåàëèçàöèÿ ìåòîäà íå ïðåäïîëàãàåò êîððåêòèðîâîê, à èñêëþ÷èòåëüíî óñðåäíå- íèå ïîêàçàòåëÿ ïî íåñêîëüêèì ñîïîñòàâè- ìûì îáúåêòàì.
dл !е=л,ƒ=ц,, ме2%д= %K/ч...% C!едл=г=- е2“ “лед3ю?,L ...=K%! це...%%K!=ƒ3ю?,. -=*- 2%!%", *%2%!/L " C!%це““е =...=л,ƒ= C!едл%- ›е...,L г%“2,...,ч...%L ...ед",›,м%“2, C%ƒ"%л,2 “дел=2ь "/"%д %K %че...ь Kл,ƒ*%м “%"C=де...,, (high degree of similarity14) =...=л%г%":
1. nKAем ...%ме!...%г% -%...д=.
2. q2!3*23!= ...%ме!%" , “2="*,.
3. nK?,L д,ƒ=L... , -,ƒ,че“*%е “%“2% ...,е
*%мCле*“=.
4. j=че“2"% 3C!="ле..., .
5. o!,...=дле›...%“2ь * г%“2,...,ч...%L цеC,.
6. m=K%! д%C%л...,2ель.../. 3д%K“2" , 3“л3г. 7. b=л%"/L д%.%д ...= ...%ме! (RevPAR).
8. lе“2%C%л%›е...,е (м=2е!,=л, C%“" ?е...-
.../L *л=““,-,*=ц,, г%“2,...,ц, ч,2=L2е " III !=ƒделе ...%ме!= ...= “2!.69$82).
o!, .2%м êîððåêòèðîâêè ïî öåíîîáðà- çóþùèì ôàêòîðàì â áîëüøèíñòâå ñëó÷à- åâ íå âíîñÿòñÿ. o%д="л ю?ее K%льш,...“2"% ="2%!%" “ч,2=е2, ч2% " !еƒ3ль2=2е м%›е2 K/2ь C%л3че... òîëüêî äèàïàçîí.
mе%K.%д,м% %2ме2,2ь, ч2% “2!3*23!= ...%ме- !%" , “2="*, “" ƒ=.../ “ "=л%"/м д%.%д%м ...= ...%ме! (RevPAR) че!еƒ ƒ=г!3ƒ*3. t=*2,че“*,, .2% C%*=ƒ=2ел, ме2!,*, %2ел , *%2%!/е .=!=*- 2е!,ƒ3ю2 %Cе!=ц,%......3ю де 2ель...%“2ь, 2% е“2ь ÿâëÿþòñÿ ïðîèçâîäíûìè îò õàðàêòåðèñòèê ãîñòèíèöû êàê îáúåêòà íåäâèæèìîñòè.
j=че“2"% 3C!="ле..., , C!,...=дле›...%“2ь * “е2, 2=*›е .=!=*2е!,ƒ3ю2, “*%!ее, де - 2ель...%“2ь, чем %KAе*2 ...ед",›,м%“2,. u%2 " %C!еделе......%м “м/“ле м%г32 “*=ƒ/"=2ь“ ...= д,ƒ=L...е , “%“2% ...,,, 3ч,2/"= !=ƒл,ч, " C!=*2,*е де 2ель...%“2, ...еƒ=",“,м/. г%“2,- ...,ч.../. %KAе*2%" , %2елеL C%д 3C!="ле...,ем 3C!="л ю?,. *%мC=...,L.
Š% е“2ь, .2, -=*2%!/ " %“...%"...%м, C% м...е- ...,ю ="2%!%", м%г32 K/2ь ,“C%льƒ%"=.../ дл %C!еделе..., “%C%“2=",м%“2,, ...% ...е дл "...е- “е..., *%!!е*2,!%"%*.
j%!!е*2,!%"*,, *%2%!/е C!едл=г=е2“ "...%“,2ь , *%2%!/е, " C!,...ц,Cе, м%›...% *%л,- че“2"е......% %C!едел,2ь $ д=2= C!%д=›,, -,ƒ,- че“*%е “%“2% ...,е , *=че“2"% ме“2%C%л%›е..., C% “!="...е...,ю “ =...=л%г%м.
ÏÐÈÌÅÍÈÌÎÑÒÜ ÌÅÒÎÄÀ
ïðÿìîãî / ðûíî÷íîãî ñðàâíåíèÿ
h !%““,L“*,е , ƒ=!3Kе›.../е ="2%!/ “.%-
д 2“ " C!,...ц,C=., %C!еделе..., . , C%“лед%- "=2ель...%“2, деL“2",L C!=*2,че“*, д%“л%"...%. Ðàñõîæäåíèå òîëüêî âî âçãëÿäàõ íà ïðè- ìåíèìîñòü ðåçóëüòàòîâ.
e“л, !%““,L“*,е ="2%!/ " K%льш,...“2"е “"%ем “ч,2=ю2, ч2%: «Ìåòîä ðûíî÷íûõ ñðàâ- íåíèé ïðè íàëè÷èè äîñòàòî÷íîãî êîëè÷åñòâà äàííûõ ïîçâîëÿåò ïîëó÷èòü õîðîøèå è, ÷òî
13 Ìàòåðèàë ïîäãîòîâëåí ñ èñïîëüçîâàíèåì ñëåäóþùèõ èñòî÷íèêîâ:
Robert J. (Bob) Metcalf, John H. Shevchuk Hotel/Motel Valuation Guide. The Appraisal of Real Estate, Second Canadian Edition. Hotel Valuation Techniques By Jan de Roos, Ph.D., and Stephen Rushmore, CHA, MAI.
Ìåòîäû Îöåíêè Ãîñòèíèö By Alexey Korobkin, Mar 3, 2011.
14 Äëÿ ñëó÷àÿ ñîïîñòàâèìîñòè èñïîëüçóåòñÿ òåðìèí comparability.
1266 • l`i• 2017 106 a~kkeŠem| • RWAY
Ýêîíîìèêà íåäâèæèìîñòè. Îöåíêà