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Agency problems that helped cause the banking crisis in the United States in the 1980s impacted hotel appraisals competed for the Resolution Trust Corporation (RTC). Lower appraised values would help make more bids acceptable, helping to sell more assets quickly. The results indicate appraised hotel values were much lower than sales prices in states with a high number of bank failures.
Dalbor, Michael C.
"Effect of Agency Problems on RTC Hotel Appraisals,"
1, Article 5.
Available at: http://digitalcommons.fiu.edu/hospitalityreview/vol21/iss1/5