The Net Operating Income of the concession operation was known and the value of the operation could be estimated via the capitalization process, much like a full-service hospitality resort operation. The team obtained cap rates from discussions with the buyers and sellers of other National Park concession contract transactions. The Felt Award has been bestowed four times since its inception in 1992. The award honors the late CRE, James Jack Felt, who was known for his strong sense of integrity and client accountability in applying his creative counseling techniques to resolve complex real estate problems. The award recognizes members of The Counselors of Real Estate for innovative and creative counseling.
Membership is selective, extended by invitation only.