For hotel valuations and appraisals of existing properties and proposed projects, particularly lenders that are considering refinancing or issuing a loan on a hotel or hotel project.

The appraisal of a Golf Course without other amenities typically found in a Private Club often means that the club is a for profit business. This is usually, but not always the case, and can affect the value of the property. An operating Golf Course is usually appraised as a Going Concern. Going Concern values include the value of the land, buildings, site improvements, equipment, and goodwill.