What happens when hotels reach that "awkward age"

The article focuses on the study conducted by the Cornell University Center for Hospitality Research regarding the value of the hotels. The researcher administered the study due to the real estate changes of the value of the hotels in unexpected ways. Results showed that the widely used technique in valuing hotels, the discounted cash flow, should be used in different ways. According to professor Jack Corgel, his research will recognize the nearly total separation between the ownership and operations in the hospitality industry.

Withiam, G. (2008). What happens when hotels reach that "awkward age". Hotel & Motel Management, 2008 Vol. 223 p16-16