This document summarizes a presentation about hotel valuation given by Tim Wilmath. It discusses different hotel types and performance levels (under-performing, exceeding expectations, operating as expected). It notes that when a hotel is operating as expected, it does not present many valuation challenges. It explores reasons why some hotels succeed while others fail, noting the importance of having a market, competence, and passion. Specific hotel examples from Nashville and Orlando are discussed. The importance of these same factors - market, competence, and passion - are related to succeeding in one's work.