Argus for hotels
Hey i don’t work in hotels but do they use argus to value hotels? i wanna get in and learn more about it.
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No, use excel…
It sucks and excel is better as mentioned.
The POR calculations and growth is such a mess. There’s no way to do any STR analysis either which is a major part in understanding your modeling and much easier done in Excel.
What is STR?
STR reports just tell you the vacancy rate for hotels in the area for the last year, months etc. I can send you one if you dm me.
So its like a market report essentially?
Ehhh more of a Market Report + appraisal.
It has comps. It also gives you a base start to how you can get the seasonality for the rate rooms are being rented out time. That way you can actually make a decent analysis. There's typically less bullshit (slightly) in these reports tho compared to a regular Market Report and appraisal. These reports do not come from brokers either so less incentive on them to send you dogshit.
I have only ever saw a point in using Argus in Real Estate for 2 reasons.
1. The broker sent the financials in that file and I don't have a timely alternative.
2. I need to pencil out expense reimbursements.
I would just model out the deal in excel if I were you. I would also learn some actual forecasting techniques with seasonality trends. How Hotels are appraised are with StR reports. See if you can get your hands on one of those.
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