Valuation Office Agency
1.1 This section provides guidance on the valuation of hotels for rating. There are separate Rating Manual sections covering the valuation of guest houses and bed and breakfast accommodation (Guest houses and bed and breakfast accommodation and serviced apartments).
1.2 There are many different types of hotel, from fairly standard budget hotels to highly individual luxury and boutique properties sometimes located within buildings of high historic significance. They include hotels specialising in particular markets such as dedicated health spas. Operators vary from large multi-national hotel companies operating under one or more major hotel brands, to small independent hoteliers running a single property.
1.3 This section describes the valuation approach for both the larger branded and independent hotels, normally valued on a receipts-based approach, and smaller hotels where there is more likely to be reliable rental evidence and a receipts-based approach may not be appropriate.