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Natural Hazard Influence Model of Maintenance and Repair Cost for Sustainable Accommodation Facilities

Author

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  • Sang-Guk Yum

    (Department of Civil Engineering and Engineering Mechanics, Columbia University, New York, NY 10027, USA)

  • Ji-Myong Kim

    (Department of Architectural Engineering, Mokpo National University, Mokpo 58554, Korea)

  • Kiyoung Son

    (School of Architectural Engineering, Ulsan University, Ulsan 44610, Korea)

Abstract

To optimally maintain buildings and other built infrastructure, the costs of managing them during their entire existence—that is, lifecycle costs—must be taken into account. However, due to technological improvements, developers now build more high-rise and high-performance buildings, meaning that new approaches to estimating lifecycle costs are needed. Meanwhile, an accelerating process of industrialization around the world means that global warming is also accelerating, and the damage caused by natural disasters due to climate change is increasing. However, the costs of losses related to such hazards are rarely incorporated into lifecycle-cost estimation techniques. Accordingly, this study explored the relationship between, on the one hand, some known parameters of natural disasters, such as earthquakes, high winds, and/or flooding, and on the other hand, the data on exceptional maintenance costs, represented by gross loss costs, generated by a large international hotel chain from 2007 to 2017. The regression model used revealed a correlation between heavy rain and insurance-claim payouts. This and other results can usefully inform safety and design guidelines for policymakers, both in disaster management and real estate, as well as in insurance companies

Suggested Citation

  • Sang-Guk Yum & Ji-Myong Kim & Kiyoung Son, 2020. "Natural Hazard Influence Model of Maintenance and Repair Cost for Sustainable Accommodation Facilities," Sustainability, MDPI, vol. 12(12), pages 1-11, June.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:12:p:4994-:d:373295
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    References listed on IDEAS

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    1. Jonathan Remo & Nicholas Pinter, 2012. "Hazus-MH earthquake modeling in the central USA," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 63(2), pages 1055-1081, September.
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    Cited by:

    1. Ji-Myong Kim & Junseo Bae & Seunghyun Son & Kiyoung Son & Sang-Guk Yum, 2021. "Development of Model to Predict Natural Disaster-Induced Financial Losses for Construction Projects Using Deep Learning Techniques," Sustainability, MDPI, vol. 13(9), pages 1-12, May.
    2. Sunkuk Kim, 2021. "Technology and Management for Sustainable Buildings and Infrastructures," Sustainability, MDPI, vol. 13(16), pages 1-3, August.
    3. Sang-Guk Yum & Kiyoung Son & Seunghyun Son & Ji-Myong Kim, 2020. "Identifying Risk Indicators for Natural Hazard-Related Power Outages as a Component of Risk Assessment: An Analysis Using Power Outage Data from Hurricane Irma," Sustainability, MDPI, vol. 12(18), pages 1-15, September.

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