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![PDF] The Consideration of Capital Expenditures in Hotel Valuations An Examination of Influencing Factors on Capital Spending and the Impact of Reserves for Replacement on Hotel Values | Semantic Scholar](https://d3i71xaburhd42.cloudfront.net/4cdde4846428a7b22969cb800f0e75e778c730e1/21-Figure1-1.png "PDF] The Consideration of Capital Expenditures in Hotel Valuations An Examination of Influencing Factors on Capital Spending and the Impact of Reserves for Replacement on Hotel Values | Semantic Scholar")
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Capital Expenditure (CapEx) Definition, Formula, and Examples
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