Broker Opinion of Value (BOV)
What is a Broker Opinion of Value?
A Broker Opinion of Value (BOV) is a streamlined look at hotel value based on limited information and is dependent on the scope of the assignment. This approach to value can provide a lender or owner with a snapshot of what a property may be worth in the marketplace. It often includes a site visit and thorough analysis of financial performance. A Broker Opinion of Value is not meant to take the place of an appraisal or more formal valuation,
What are the Advantages of a Broker Opinion of Value?
- Quick response time
- Snapshot of value.
- Often ideal when limited information is available.
- Practical approach to value and is often less theoretical.
- Completed discreetly
- Easily tailored to the needs and budget of the client
- Confirm or challenge existing values
- Easy to read and understand
The Hotel Source Advantage
Hotel Source, Inc. is ideally positioned to provide Broker Opinions of Value (BOVs). Given the boutique nature of the firm, Hotel Source, Inc. can react quickly and provide customized reports based on the needs of the bank, lender or owner. The market knowledge of the firm and research capabilities are second to none.