Hotel Ground Up Development Financial Model

Hi guys, i just started working at this small REPE and was assigned to model a hotel ground up development with monthly cash flow model and interim/perm loan and 2 tier waterfall,...I havent done modeling a hotel before, so I am really stressed out now, I just wonder if anyone could share with me their templates just so i can learn the gist of the this...thank you so much guys!!

6 Comments
 
Best Response

It seems like your stress stems from the hotel product type:

Monthly CF

Revenue Room Rev - ADR * # of keys * # days in the month * Occupancy Food & Beverage Rev - $/occupied room Telephone Rev - $/occupied room

Departmental Expenses Room Exp - % of departmental rev Food/Bev Exp - % of departmental rev Telephone Exp - % of departmental rev

Undistributed Expenses Franchise Fee - % of total revenue Management Fee - % of total revenue Utilities - $/occupied room R&M - $/year Advert & Marketing - $/year G&A - $/year

Fixed Expenses RET Insurance

NOI FFE Reserves - % of total revenue Interest Exp

NCF

Hotel major CF inputs: 1) Annual ADR % growth 2) Occupancy % by year 3) Growth rate of other revenues (keep it simple, no need to break down all departmental rev) 4) Annual RET growth

You can assume margins on departmental rev to departmental exp will remain stable. This will alleviate major headaches.

Don't worry about modeling seasonality- a buyer will value the subject on TTM financials. That being said, don't worry about modeling a cap rate dispo on FWD-12 NOI (for the same reason)

You want to make sure you include a Revenue Multiple within the dispo calculation trigger (the trigger will allow you to dispo by cap rate, $/key, OR revenue multiple).

 

Accusantium sed ex possimus repudiandae sed deleniti. Facilis animi doloremque ducimus dolorem.

Molestiae sit sapiente sunt quae. Voluptatem provident vel sed minus doloribus. Quis assumenda nesciunt earum dolorum voluptates. Vitae rerum incidunt architecto.

Enim inventore rerum ut harum quae eveniet. Vero quidem velit at qui aut. Minus magnam ut eius cupiditate nihil accusantium. Architecto in sit et sunt ducimus dicta provident exercitationem. Maiores sed voluptas quod voluptatem sed molestias ipsam.

Quos voluptatem maiores sequi id alias ipsam esse. Asperiores exercitationem sunt ea earum voluptate et mollitia. Aut quia cumque et pariatur dolorem id ducimus.

Career Advancement Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • JPMorgan 01 98.4%
  • Guggenheim Partners 02 97.9%
  • Morgan Stanley 06 97.4%

Overall Employee Satisfaction

October 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 99.0%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 13 97.4%

Professional Growth Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

Total Avg Compensation

October 2026 Investment Banking

  • Vice President (16) $429
  • Associates (57) $264
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (28) $184
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
kanon's picture
kanon
99.0
3
Secyh62's picture
Secyh62
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
dosk17's picture
dosk17
98.9
6
GameTheory's picture
GameTheory
98.9
7
DrApeman's picture
DrApeman
98.9
8
Betsy Massar's picture
Betsy Massar
98.9
9
CompBanker's picture
CompBanker
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”