In recent years hotels have become a recognized class of assets. Nevertheless, for many investors the characteristics of the operational side compared to the real estate side are often difficult to follow. Within this context HOTOUR moderates between the different interests of investors and operators by answering the following questions:
This question can be initially answered through a hotel check. In case of a positive result, a more comprehensive and hotel-specific due diligence can verify the plausibility of the purchase.
If the initial review confirms a price scope that seems feasible to the investor, then the purchase price can be verified in detail within an appraisal report.
The scope of a lease can be clarified by applying a hotel 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 appraisal reports 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 sustainable and achievable cash flow (management contract) or lease.
A change of the lessee is a highly complex and risky process that requires a lot of sensitivity on behalf of the investor. An extension of the contract with the current lessee should therefore be given first priority without neglecting the possibility of approaching alternative operators. Following an initial review, HOTOUR offers a customized package of consulting services for this purpose.
To answer this question it is necessary to lead operator negotiations on equal terms. A detailed appraisal of the lease value can verify the achievable lease