Hotel advisory - what time of models / valuation analysis used

Hi, i have just been contacted by a headhunter for graduate role at a niche hotel advisory firm, I guess the name couldn’t be more clearer but just to clarify it would be advising hotels i.e the owner / management of a hotel on various activities such as m&a i.e one hotel looking to acquire another hotel. Correct me if I’m wrong but I guess this is different to traditional m&a as you’re not dealing with corporates or private equity firms? And it also seems different from real estate investment banking which deals with real estate companies I.e REITS/real estate investment firms looking to do m&a in which you would be looking at NAVs etc at the fund level but instead with this role, you’re dealing with the hotel management / hotels directly.

• would the m&a process differ from traditional m&a I.e vs corporates etc.. ? If so how? Or would the m&a process be the exact same?
• on the modelling side would there be any differences I.e the type of operating and financial models being used?
• how would one value a hotel?
• How would things such as modelling/valuation differ if the hotel rented/leased the building vs if they owned the building they operated in?

Thank you!