Explore · Hotels
Capital partnerships for hotel real estate
We work with sponsors and capital partners on hotel-oriented opportunities: stabilized cash flow, value-add repositioning, and development-adjacent structures where the story is clear and the risk is deliberate.
How we evaluate fit
A disciplined, repeatable conversation
Details below are illustrative of how we work with partners, not a commitment to invest, lend, or participate in any transaction.
- Alignment on sponsorship track record, operator plan, and capital structure
- Scenario-based underwriting with transparent assumptions you can stress-test
- Communication cadence designed for busy principals and family offices
Your free gift
The Hotel Capital Partner's Diligence Playbook
Walk into your next hotel conversation with a structured lens on demand, operations, capital structure, and downside cases. Built for U.S. hospitality deals; illustrative only, not investment advice or an offer.
What’s inside
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Market & demand fundamentals
- Submarket seasonality, compression, and new supply you should name explicitly.
- Competitive set framing: who actually competes for the same guest and rate.
- Demand shocks and recovery patterns to stress in narrative and model.
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Operating performance & P&L quality
- ADR, occupancy, and RevPAR trend integrity versus the comp set.
- GOP flow-through and where margin leaks typically hide in operations.
- One-offs, owner expenses, and adjustments that affect “true” cash flow.
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Brand, management & capital plans
- PIP timing, FF&E reserves, and contract points that move value.
- Operator incentives, performance tests, and termination realities.
- Capex sequencing alongside revenue management and renovation risk.
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Capital structure & sensitivities
- Sources and uses clarity; tranche logic and covenant headroom.
- Rate, occupancy, and ADR sensitivities your IC can replay quickly.
- Refinance and exit windows tied to brand, market, and sponsor plan.
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Risk register & mitigations
- Top five downside cases with owner/operator mitigations spelled out.
- Early warning metrics to monitor between signing and stabilization.
- Documentation and reporting cadence that keeps everyone aligned.
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