Hotels Financial Modelling Help - Building a model first time
I was wondering if anyone can help me with my first hotels model. I have had little steer from seniors but need to get this done asap. Also I have no financials/assumptions it is from scratch and I was told we will get information later.
1) Clarification of Order:
I go from Revenue > EBITDARM (Rent & Management Fee) > Less Management Fee > EBITDAR > Less Rent >
At this stage I am unsure whether to put in 'FF&E' to get to NOI or does this come after? I am also unsure where Acq. Capex goes - but think this goes after NOI right?
2) How do I proceed to Free Cash Flows - I need to highlight this and ultimately input debt assumptions and then get to an exit multiple
3) Capital Structure - ownership i.e. debt/repayment/refi/acq./capex - I need to model this. So any 'structure' or methodology would be super helpful.
Thanks guys - I really appreciate any help!