the real estate side. Examples are the Holiday Inn and Hampton Inn. • Budget – These could have one or two amenities for guests but mainly just get by with providing the basic necessities for a low rate. Examples are the Super 8 and Red Roof Inn. • Extended-Stay Hotels – These have larger rooms and better kitchens because they are designed for people staying a week or more. • Resorts – This is the biggest piece of land hotels are on. Resorts are usually in a travel destination (Hawaii or Orlando). They often come with their own golf course.
LAND
These are in undeveloped, rural, or raw areas.You can see many of them for sale when you drive past on highways and travel routes. There are three types: • Greenfield Land – These areas are undeveloped and haven’t been touched yet. They are often surrounded by farms and pastures. • Infill Land – This is located in city areas and has already been developed, but is currently vacant. This type of land is sometimes an option for tenants if a buyer is in the process of purchasing the land. • Brownfield Land – These are pieces of land that were used for commercial industrial purposes, but are now available for reuse. They can also be contaminated lands that have been restored and are ready for commercial use again.
SPECIAL PURPOSE
This is land that may be owned by commercial real estate investors 22
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