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Dr René-Ojas Woltering

René-Ojas Woltering , PhD


PhD in Business Administation, University of Regensburg


Assistant Professor

Teaching Location(s)

EHL Campus Lausanne
EHL Campus (Singapore)

Courses and Modules Taught

• Feasibility Analysis, Development and Negotiations

• Feasibility Analysis, Development and Negotiation (E-Learning)

Teaching Subject(s)

Hospitality Real Estate Finance & Investments
Real Estate Finance
Feasibility Analysis, Development and Negotiations
Financial and Banking Markets

Area(s) of Expertise

Hotel valuation
Investment strategies
Mutual funds
Real estate investment vehicles
Real estate indices

Short Bio

René-Ojas Woltering, PhD, is an Assistant Professor of Real Estate Finance at EHL. He holds a doctoral degree in Business Administration from the University of Regensburg. His research interests include real estate investment vehicles, investment strategies, and issues relevant to the hospitality industry.

His publications have appeared in scholarly journals such as the Journal of Banking and Finance, Real Estate Economics, and the Journal of Real Estate Finance and Economics. Dr. Woltering has gained valuable experience in the real asset management, investment management, and consulting industry. He is also awardee of several finance & investment competitions.

Publications in Peer-Reviewed Journals

Schiller, A., Woltering, R.-O., Weis, C., & Sebastian, S. (Forthcoming). What determines the mean reversion speed of NAV spreads? Journal of Property Research. Retrieved from https://doi.org/10.1080/09599916.2022.2105251

Woltering, R.-O., Downs, D., & Sebastian, S. (2021). Public versus private market arbitrage : international evidence for listed property companies. Journal of Real Estate Research, 43 (3), 355-381
Frömel, P., Wagner, D., Woltering, R.-O., Downs, D. & Sebastian, S. (Forthcoming). Strategic Transactions Around REIT Conversions. Journal of Real Estate Research. https://doi.org/10.1080/08965803.2022.2041264
Schnejdar, S., Woltering, R.-O., Heinrich, M., & Sebastian, S. (forthcoming). Fund Closure Risks of Open-End Real Estate Funds. Journal of Real Estate Research. https://doi.org/10.1080/08965803.2022.2033392
Weis, C., Sebastian, S., & Woltering, R.-O. (2021). Which stocks are driven by which interest rates? Evidence from listed real estate. Journal of Property Research, 38(3), 175-197. https://doi.org/10.1080/09599916.2021.1903531
Zhu, B., & Woltering, R.-O. (2021). Is fund performance driven by flows into connected funds? Spillover effects in the mutual fund industry. Journal of Economics and Finance. https://doi.org/10.1007/s12197-021-09539-7
Schnejdar, S., Heinrich, M., Woltering, R.-O., & Steffen, S. (2020). The Discount to NAV of Distressed Open-End Real Estate Funds. The Journal of Real Estate Finance and Economics, 61, 80-114. https://doi.org/10.1007/s11146-018-9694-8
Schiller, A., Woltering, R.-O., & Sebastian, S. (2020). Is the flow-performance relationship really convex? – The impact of data treatment and model specification. Journal of Economics and Finance, 44, 300-320. https://doi.org/10.1007/s12197-019-09489-1
Woltering, R.-O., Weis, C., Schindler, F., & Sebastian, S. (2018). Capturing the Value Premium - Global Evidence from a Fair Value-Based Investment Strategy. Journal of Banking & Finance, 86, 53-69. https://doi.org/10.1016/j.jbankfin.2017.06.009
Downs, D.H., Sebastian, S., & Woltering, R.-O. (2017). Real Estate Fund Openings and Cannibalization. Real Estate Economics, 45(4), 791-828. https://doi.org/10.1111/1540-6229.12144
Downs, D.H., Sebastian, S., Weistroffer, C., & Woltering, R.-O. (2016). Real Estate Fund Flows and the Flow-Performance Relationship. The Journal of Real Estate Finance and Economics, 52(4), 347-382. https://doi.org/10.1007/s11146-015-9539-7

Funded Research Projects

Woltering R.-O., Project: Price Transparency in the European Hotel Industry, Date: 01.09.2019 to 28.02.2021, External Fundraising: HES-SO.


Rising Star Teaching Award (2019)