Volcanic Eruption Destroys Luxury Hotel Development

    Business / Real Estate Valuation ExpertThis case involves a policy dispute over a hospitality company that was in the process of developing a five-star resort property on a volcanic island. The resort was at the bottom of the volcano which had been dormant for many years and appeared to be a safe location for development. While the resort was in development, the volcano erupted and damaged the resort property and all the buildings that had been constructed. A valuation expert was sought to perform a business and real estate valuation for the resort and development and opine on the value on the development as a whole.

    Question(s) For Expert Witness

    • 1. Please describe your business and property valuation experience, specifically within the hospitality industry if applicable.
    • 2. Have you ever performed valuation and/or appraisal of a property that has undergone a natural disaster, such as the one described?

    Expert Witness Response E-079384

    I have been qualified in federal court as an expert appraiser for properties, including full-service hotel and resort properties, and I hold an MAI designation as an appraiser. I have experience reviewing and appraising similar properties to this, and I am currently involved in the valuation and appraisal of properties affected by floods.

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