HOTOUR has a long-standing history in advising financing institutes. The most frequently asked questions are the following:
The scope of a lease can be clarified by applying a quick check. Precise lease calculations require a thorough and more detailed analysis of the hotel project. The achievable lease depends on the location, market, category and operating concept of the hotel and can be determined through a appraisal report of the leasehold value. If the debt service coverage of a hotel is subject to evaluation, we determine – depending on the requirements of the financing bank – either the sustainably achievable cash flow (management contract) or lease.
In order to check whether the product positioning, real estate, marketing and operating concept, personnel planning, and efficiency of an existing hotel or project are feasible, we review the operator’s or borrower’s business plan and verify it’s plausibility (business plan analysis). If no business plan should be available, it is recommended to use a leasehold value report.
Appraisal reports are prepared on the basis of a profitability calculation and performed either by applying the earnings value method (according to german WertV) or the internationally used Discounted Cash Flow (DCF) method.
Depending on the objective and required level of detail this question can be answered either through a quick check, an appraisal report based on the leasehold value or an analysis of the business plan.
This question can be answered thoroughly within a restructuring study (according to the German IdW standard and adapted to the needs of the hotel industry). An initial feedback can also be given through a quick check.