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COMPANY
About us
A hotel-only investment advisory, covering research through to licensed brokerage.
CONCEPT — THE GOLD STANDARD
A standard for hotel investment.
Our name, Golder, comes from gold.
A gold standard is both a monetary system and the phrase we reach for when we mean the most trustworthy benchmark there is. Japanese hotel assets, we think, are short of one. Two hotels on the same street with the same key count can produce very different earnings depending on who runs them — and yet deals are still priced off land comparables and headline yields that say almost nothing about the operating business underneath.
For an owner that means leaving value on the table. For an investor it means buying at a price that was never going to work. Both follow from the absence of a standard.
We would like to be that standard.
The gold standard for hotel investment in Japan.
CORPORATE PROFILE
Corporate information
OUR APPROACH
How we work
We read it as a business
A hotel is assessed through ADR, occupancy and GOP rather than floor area and rent. If the operating assumptions change, the price changes — and we make that visible in how a price is presented.
We show the reasoning
Every price comes with its assumptions, its method, and the case against it. We do not hand over a number on its own. The decision is yours; our job is to assemble what it rests on.
We say what we cannot do
We do not promise a buyer. If the likely outcome is below your expectation, we will say so. Deciding not to sell is a legitimate conclusion.