SmartHelping / Hotel Investment / Excel
Hotel Investment Financial Model
Underwrite a hotel acquisition, new development or a combined project. Connect room bookings, residence sales, food and beverage, and event revenue to construction costs, financing, cash flow and LP/GP returns.
Immediate download after purchase. By purchasing, you agree to the Terms of Service.
See the model in action
Walk through the project plan, financing and investment outputs.
Follow the video to see how hotel operations, construction, residential sales and funding assumptions move through the cash flow forecast and return analysis.
Template features
Connect the property plan to operating cash flow and returns.
Model the acquisition or development strategy together with financing, staffing, expenses and the investment structure.
Plan the project that matches the deal
Configure a hotel acquisition, new construction or a combination. Model up to 120 months, or 10 years, with a dynamic end-month option.
Schedule construction and its financing
Use a three-phase construction schedule and two construction loan options, including interest-only periods and a switch to permanent financing.
Configure the acquisition loan and future refinancing
Set the acquisition loan with an optional interest-only period and switch to permanent financing. Refinance all debt at a defined future month if the plan calls for it.
Connect operating costs to the active hotel
Build a fixed-cost OPEX schedule and a staffing schedule with fixed and dynamic assumptions. Dynamic staffing costs follow active rooms, or keys, over time.
Evaluate the investment and the joint venture
Review project-level IRR, equity multiple and minimum equity required. Configure an LP/GP joint venture with an IRR-hurdle cash flow waterfall.
Follow the components of cash flow
Review detailed monthly and annual pro forma views, plus an Executive Summary of the primary line items and cash flow.
See operating performance and debt coverage
Use visualizations and KPIs including DSCR, average occupancy, revenue per available room (RevPAR), net operating income (NOI) and other outputs.
Test the investment assumptions
Use an exit cap rate to determine the sale amount. An included sensitivity table supports acquisition analysis.
Four revenue streams
Build the operating forecast around the full project.
Configure hotel room bookings, optional residential sales, food and beverage, and events with their own timing and revenue assumptions.
Configure up to 20 room types
Define the start month and key count for each room type. Set monthly average daily rates (ADRs), annual ADR growth, monthly occupancy, annual occupancy improvement and a maximum stabilized occupancy.
Schedule residential sales and cash receipts
Model three residential unit types with average sales prices, selling costs and a schedule for when sales cash is collected.
Build an annual plan with its own seasonality
Set annual food and beverage revenue and the share earned in each month. Revenue growth follows room-rate growth, while food and beverage OPEX is defined as a percentage of booking revenue.
Add event revenue and its margin
Define annual event revenue, its monthly seasonality, a growth rate and the margin earned on events.
Equity, distributions and sources and uses
Follow the cash required throughout the project.
Construction, operations and residential sales can create cash requirements across many months. The funding analysis follows that timing and the lowest cash position reached.
Equity timing
Define equity contributions month by month. Invest the capital up front or schedule investments over time to match the project plan.
Cash distributions
Enter distributions manually and use the automatic distribution component where appropriate. Choose the month automatic distributions begin and the minimum cash to retain in the operating account.
Minimum funding requirement
The model identifies the month when the lowest cash position occurs. Sources and uses reflect the timing of construction, operating income or cash burn, GP and developer fees, and residential construction and sales through that funding point.
Sources and uses
Review both detailed and roll-up summaries. Cash sources and uses that occur across several months are included through the minimum-cash-position month, so the funding requirement reflects the project schedule.
How to use it
From a hotel strategy to an investment analysis.
Set the project and financing plan
Define the acquisition, construction or combined strategy, the forecast end month, construction phases, loans and any future refinancing.
Build the four revenue streams
Enter room types, ADRs and occupancy, then configure any residential sales, food and beverage revenue and events.
Schedule costs, equity and distributions
Complete the OPEX and staffing schedules. Define equity contributions, distribution timing and the minimum operating cash balance.
Review the funding and investment results
Study sources and uses, the pro forma, hotel KPIs, project returns and the LP/GP waterfall. Test acquisition assumptions with the sensitivity table.
Who gets value from it
Built for the people buying, developing and investing in hotels.
Hotel buyers
Evaluate an acquisition through operating performance, financing, exit assumptions and investment returns.
Hotel developers
Coordinate construction phases, residential sales, financing and the timing of equity funding.
Operators and sponsors
Connect room activity, ancillary revenue, staffing and operating costs to cash flow and distributions.
Investors and advisors
Review minimum equity required, debt coverage, project-level returns and the LP/GP structure.
Also available in these bundles
Need models for more than one property or business?
This hotel investment model is included in the following SmartHelping collections.
Real Estate Models Bundle
Explore models for property acquisitions, development, financing, operations and investor returns.
View Real Estate BundleHospitality Models Bundle
Find financial planning tools for hospitality businesses and their properties.
View Hospitality BundleSuper Smart Bundle
Get the complete SmartHelping template collection for operating forecasts, valuation, finance and more.
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Explore this templateQuestions before you choose
A few useful details.
Can I model both an acquisition and new construction?
Yes. The model supports acquisitions, new construction or a combination, with separate assumptions for construction and acquisition financing.
How long is the forecast?
You can model up to 120 months, or 10 years, and choose a dynamic end month.
What revenue streams are included?
The four revenue streams are room bookings, residence sales, food and beverage, and events. Room bookings support up to 20 room types, while residence sales support three unit types.
Can equity be invested over time?
Yes. You define equity contributions by month, allowing an upfront investment or contributions over time. Distributions can include manual amounts and an automatic component with a start month and minimum operating cash balance.
Does the model include an LP/GP waterfall?
Yes. It includes an LP/GP joint venture configuration with IRR hurdles, together with project-level IRR, equity multiple and minimum equity required.
How does the sources-and-uses analysis handle costs over time?
It identifies the month of the lowest cash position and includes cash sources and uses through that point. This captures the timing of construction, operations, fees and residential sales in the funding requirement.
Is this model included in a bundle?
Yes. It is included in the Real Estate, Hospitality and Super Smart bundles linked above.
Put the hotel plan, funding and returns in one model
Build the hotel investment around the numbers.
Purchase the financial model for $75 and receive immediate access to the download.
