A limited-service hotel (LSH) is a hotel without restaurant and banquet facilities, which are part of the defining characteristics of a full-service hotel (FSH).The LSH’s market position is based on the recognition that, for some travelers, the key requirement is a satisfactory room but few of the other amenities.

Lower investment outlay and operating cost, a feature shared by all LSHs, lead to a more stable investment product versus the FSH, and LSHs can deliver an on-par to slightly better risk-adjusted return than other commercial real estate classes.


本公司的白皮書《A Case for Limited Service Hotel》,已翻譯為中文,以下為鏈結:


本白皮書分析了有限服務酒店作為機構投資者的另類投資選擇。有限服務酒店著重提供滿意的 房間體驗及較少的配套設施,服務對象廣泛,由普通旅客以至中小企僱員。廉價航空公司市場 擴大等業界數據顯示,此群顧客在過去二十年大幅增加,並預期在未來五年再增長 50%。投資 者該考慮相關資產類別,因為其風險水平較全面服務酒店低。有限服務酒店既可以是核心或核 心增值型投資組合的一部分,也可以提供數項策略配合增值型投資。 本文是整個文章系列的第一期,其餘文章將探討有限服務酒店的財務細節。第二期文章將集中 討論酒店在亞太區的供求,以及有限服務酒店的成本架構。