Commercial Real Estate Property Types

Hospitality

Subtype

Definition

Bed & Breakfast A house, generally an older renovated residence, where lodging and breakfast are provided to paying guests. A portion of the guest rooms often require the use of communal rest rooms.
Casino A lodging facility combined with a full casino gaming facility.
Chalet
Convention Center Hotels designed to accommodate large groups and functions. They provide facilities such as one or more large ballrooms with breakout areas for meetings and conferences, exhibit space for trade shows, sample and display rooms for sales meetings, extensive restaurant and lounge capacity, and the same recreational amenities found in commercial hotels. The key component is meeting space, which should amount to at least 30 square feet per guestroom.
Extended Stay A hotel designed for travelers who must stay in an area for a prolonged period, typically seven or more days; differs from a standard hotel in that rooms and amenities have a more residential atmosphere. Guestrooms have large living areas and full, eat-in kitchens; some have two separate sleeping areas, individual dining rooms, and separate baths. Offering limited food and beverage service, extended-stay hotels are usually easy to operate and have higher profit margins. The extended-stay hotel is a cross between an apartment complex and an all-suite hotel.
Golf Course A property that features access to golf courses and related activities.
Hostel A supervised, inexpensive lodging place for travelers, especially young travelers.
Hotel An establishment that provides lodging and usually meals and other services for travelers and other paying guests. Typically provides a range of services including: room service, valet, concierge, transportation and tour services, entertainment facilities, laundry, food/dining, fitness centers, banquet and meeting space, etc.
Inn A house for the lodging and entertainment of travelers or wayfarers; a tavern; a public house; a hotel.
Motel An establishment that provides lodging for motorists in rooms usually having direct access to an open parking area. Frequently offers substantially lower rates due to high volume, lower initial investment costs, and efficient operations.
Recreation Cabins
Resort Resort hotels generally offer restaurant, lounge, and entertainment outlets; a fitness center; concierge and valet services; transportation and tour services; and a limited amount of meeting and banquet space.
Ski & Sun Properties located in destinations that cater specifically to skiing and water-related recreational activities.
Spa A hotel, typically situated in a scenic area, that either provides or is near activities that attract leisure travelers, e.g., swimming, tennis, golf, boating, skiing, ice skating, riding, hiking, sightseeing. Seasonality often affects the level of occupancy.
Vacation Rental(s) Timeshare and rental properties.
Other All other lodging/hospitality type properties.

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