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The third edition of this book takes a look at the challenges and opportunities faced by hotel owners, lodging industry real estate professionals, and hotel company executives, with articles written by industry leaders in asset management. The articles are divided into four sections: foundations and processes of asset management real estate and the physical asset contracts and legal aspects of asset management planning and executing the hotel investmentThis edition is the most comprehensive to date and includes twenty-one chapters by 36 authors, covering topics of keen interest to hotel owners, investors and asset managers, including: Channel Management: OTA's and the Rising Cost of Customer Acquisition Evaluating Franchise and Chain Affiliation Programs Managing Technology from the Hotel Owners Perspective Key Legal Issues: the Battle for Control Risk vs Reward: A Lender's View of Hotel Investment Trends The Art of the Capital Structure Everything You Wanted to Know about Hospitality Valuation and Techniques, But Were Afraid to Ask Buy Hold Sell Analysis