deferred maintenance
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2021 ◽  
pp. 193896552110586
Author(s):  
Amrik Singh

This study investigates the magnitude of the foreclosure sale discount in the hotel sector. The foreclosure sales discount is captured using three different models: hedonic, hybrid, and repeat sales. Controlling for various hotel attributes and time, the hedonic model shows a foreclosure discount of 40%, followed by the repeat sales model at 42% and the hybrid model at 45%, all relative to non-distressed market prices. The results of the study provide novel empirical evidence of cross-sectional variation in foreclosure discounts between independent hotels and branded hotel segments and by location. In particular, variation in the foreclosure discount is driven by independent and upscale hotels and hotels located in resorts, small metro towns, and urban locations. In addition, the study results reveal the influence of occupancy, deferred maintenance, renovation, and holding period on transaction prices.


2021 ◽  
pp. 1087724X2110472
Author(s):  
Jiseul Kim

Routine maintenance spending for public infrastructure is critical for reducing life-cycle costs, and improving asset preservation and quality. Yet, states focus more on building new roads and expansion than maintaining existing assets’ conditions. Deferred maintenance costs are transferred to the future taxpayers, and they will eventually pay the expensive price. So far, there is little academic endeavor to examine the determinants of state and local routine maintenance spending. This study uses a panel data analysis covering 47 states from 1995 to 2009 to examine the effects of politics on state highway routine maintenance spending. The study finds that political incentive and conflict are key factors delaying state highway routine maintenance spending. The re-election-minded governors and legislatures tend to allocate less funding to maintenance to satisfy the current taxpayers. The study further finds that politically-divided states spend less on highway maintenance due to higher transaction costs in the policy-making process.


2021 ◽  
Vol 31 (2) ◽  
pp. 15-29
Author(s):  
Apolonia Przesmycka ◽  
Damian Wieczorek

Abstract The article deals with the issues of building exploitation and maintenance and focuses on the characteristics of the maintenance strategies mentioned in the ISO 15686-5:2017 Buildings and constructed assets - Service life planning - Part 5: Life-cycle costing. The article describes all three strategies recommended by the ISO standard (preventive, corrective and deferred maintenance). The purpose of the article is to conduct whole life costs analysis of three variants of modernisations, renovations and maintenance strategies for a selected building. The methods of economic efficiency assessment were used, such as net present value (NPV) method and internal rate of return (IRR) method.


2021 ◽  
Vol 61 (2) ◽  
pp. 463
Author(s):  
Kylie Seccombe ◽  
Derrick O'Keeffe

This paper identifies key areas of concern regarding the use of deferral as a maintenance management tool. As the national regulator for offshore petroleum operations and greenhouse gas storage activities, National Offshore Petroleum Safety and Environmental Management Authority is uniquely positioned to observe the various processes and tools applied by industry in the management of maintenance for offshore facilities, including impacts on safety and the environment, while acknowledging the need for business sustainability. This Extended Abstract provides a regulator’s perspective on the use of ‘maintenance deferral’ by industry as a tool for balancing competing priorities, while ensuring the risks to people and the environment are reduced to a level that is as low as reasonably practicable. It highlights the pitfalls of maintenance deferral that may negatively influence safety and environmental performance over the life of a facility (from construction through to decommissioning) as well as on the business’ bottom line. Learnings identified from non-compliances, improvement recommendations and incidents to promote efficient and effective learning are shared to further enhance existing good practices across the industry.


2021 ◽  
Author(s):  
Gabriele Baldissone ◽  
Micaela Demichela

Author(s):  
Maria Chiara Leva ◽  
Micaela Demichela ◽  
Gabriele Baldissone

In this chapter, the authors present an overview of methods that can be used to evaluate risks and opportunities for deferred maintenance interventions on aging equipment, and underline the importance to include monetised risk considerations and timeline considerations, to evaluate different scenarios connected with the possible options. Asset managers are compelled to continue operating aging assets while deferring maintenance and investment due to the constant pressure to reduce maintenance costs as well as short-term budget constraints in a changing market environment. Monetised risk values offer the opportunity to support risk-based decision-making using the data collected from the field. The chapter presents examples of two different methods and their practical applicability in two case studies in the energy sector for a company managing power stations. The use of the existing and the new proposed solutions are discussed on the basis of their applicability to the concrete examples.


Author(s):  
M N Yasin ◽  
R Mohamad Zin ◽  
M Y Hamid ◽  
M A Zakaria ◽  
R Deraman

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