Hotel Quick

Review stabilized hotel economics, financing and cash flow.

Quick assumptions

Input notes

Property economics

Model name Name this underwriting for future reference.

Hotel rooms Available hotel rooms.

Total cost per key Purchase + PIP + renovation, per room. Edit the cost breakdown in Advanced assumptions.

Total hotel cost —

Hotel Operating Margin Stabilized EBITDA ÷ total revenue, before FF&E, debt and fund fees. Leave blank to use detailed operating costs.

Base annual revenue Total stabilized operating revenue, including rooms, food & beverage and other revenue.

Hold (years)

Exit cap rate Default

Annual revenue / NOI growth Default

Base annual NOI

Cost per key includes purchase + PIP + renovation. Closing costs, financing fees and working capital are additional.

Advanced assumptions

Operating detail

NOI and operating margin determine revenue and implied ADR. Clear the margin to use detailed operating assumptions. Current operations apply only during stabilization or in T12 mode.

Revenue mode Choose how current room revenue is supplied.

Current occupancy Enter 64.3 for 64.3%.

Current ADR Current average daily rate.

Stabilized occupancy Target occupancy after stabilization.

Stabilized ADR Calculated from NOI when an operating margin is entered.

Stabilization months Months to reach stabilized assumptions.

Projection months One to 360 monthly periods.

Cost breakdown

Purchase price plus PIP and renovation equals the total hotel cost shown above.

Purchase price Acquisition price before closing costs.

PIP & renovation Total funded PIP and renovation capital; included once in asset cost.

Operating costs, financing and downside scenarios

A higher margin reduces operating costs proportionally; a lower margin adds an expense allowance. Edit individual costs to use detailed assumptions instead.

Additional operating expense allowance: — of total revenue, calculated when a margin is applied.

Food & beverage / room revenue Default

Other revenue / room revenue Default

Room department / room revenue Default

F&B expense / F&B revenue Default

Other department / other revenue Default

General & administrative / revenue Default

Sales & marketing / revenue Default

Franchise fees / room revenue Default

Repairs & maintenance / revenue Default

Utilities / revenue Default

Property management / revenue Default

Property tax / revenue Default

Insurance / revenue Default

FF&E reserve / revenue Default

Loan-to-value Default

Annual interest rate Default

Loan amortization (months) Default

Loan term (months) Default

Closing costs / purchase price Default

Working capital / room Default

Deficit reserve / room Default

Financing fee / loan Default

Selling costs / sale price Default

Minimum debt-service coverage Default

Interest-only period (months) Default

Soft case occupancy change Default

Soft case ADR multiplier Default

Soft case expense change Default

Hard case occupancy change Default

Hard case ADR multiplier Default

Hard case expense change Default

Fund acquisition fee / purchase price Default

Loan sizing basis Default

Other acquisition costs Default

Other funding sources Default

Sale month (optional) Default

Reserve release month (optional) Default

Key results

Stabilized monthly operating statement

Revenue, operating costs, reserves and debt service
Line item	Monthly value

Scenario comparison

Base, downside and severe downside assumptions
Scenario	Occupancy	ADR	Stabilized NOI	DSCR	Indicated value

Monthly cash flow

Monthly operating, debt and equity cash flow
Month	Revenue	NOI before FF&E	NOI after FF&E	Debt service	After-debt cash	Equity contribution	Distribution	Ending debt	Net liquidation value

Model checks

Saved versions

Saved versions preserve an immutable snapshot of assumptions and results. Select one to load it, or copy a loaded version into a new editable model.

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