Hoyt Advisory Services

HAS Board of Directors

Dr. Ron M. Donohue, CRE
Dr. Jeffrey D. Fisher
Dr. Norman G. Miller


Hoyt Advisory Services (HAS) is a real estate consulting corporation focusing on complex real estate issues requiring cutting edge research.  HAS is a wholly-owned subsidiary of the Homer Hoyt Institute (HHI), the nation’s leading real estate research foundation.   HAS serves as the asset manager for the Institute’s investments and as the Institute’s research and development unit.  HAS provides real estate asset and property management services, as well as real estate counsel and analyses.   It also accepts custom assignments directly from real estate decision makers to solve particular problems.  With its connection through HHI to a wide network of university researchers, HAS is a unique entity that is able to call upon academic research for state-of-the-art techniques to answer industry’s questions.

Examples of HAS assignments include providing strategic planning counsel, performing local area analyses for hotel investment companies, integrating econometric and judgmental models for forecasting office space absorption, developing gravity models for retail site selection, and serving as expert witness on valuation matters.

Other assignments include development of white papers, executive education curriculum, and a real estate center at a public university.  In addition to its consulting assignments, HAS maintains a rigorous program of internal research. Internal research programs include REIT valuation and risk analysis, REIT model development, model backward testing and development of three monographs dealing with various aspects of REITs.  In its capacity as the Institute’s research and development unit, HAS identifies relevant research questions by working closely with real estate decision makers.   In turn, it provides guidance to HHI on the relevance of research and data collection efforts. HAS’ specialized assignments center on expanding the real estate body of knowledge through specifically selected work.

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