A PPM for hotels and hospitality acquisitions

Hospitality covers select-service, full-service, extended-stay, boutique, and resort hotels. Unlike other real-estate asset types the revenue is daily and management-intensive, which is why most PPMs frame a hospitality raise as closer to an operating-business acquisition with a real-estate anchor.

Deals in the wizard range from single-property select-service acquisitions in the $3–$10M equity range up to multi-property portfolios and repositioning plays in the $20M+ range.

Hospitality disclosure typically covers the property's flag or brand, the franchise agreement economics, the management-company arrangement, the PIP (property-improvement-plan) obligations, historical RevPAR and ADR, and a pro forma that reads off occupancy, ADR, and a full operating P&L rather than a simple NOI calculation.

The risk library loads demand-cycle, brand-termination, franchise-fee, labor-cost, food-and-beverage-exposure, and PIP-capital-cost risks by default. For resort and boutique properties, the library also surfaces weather and destination-demand-variability risks.

Hospitality deals typically run as Delaware LLCs offering Class A units under Rule 506(c), with a 8–10% preferred return reflecting the higher-risk profile, a 3–5-year hold, and a promote above the pref. Leverage is typically 55–65% LTV given lender underwriting in the asset type.