Winter 2000/2001, Vol 25, No 4

Abstract: The federal government contracts with private concessionaires to build and operate visitor-serving facilities at our National Parks. When these long-term contracts expire, there is an interesting appraisal problem: what is the current value of the concessionaire’s improvements? This manuscript describes the innovative methodology used by two CREs in a recent dispute, in which they valued not only the concessionaire’s improvements, but the contract and the land in the park itself.