This module covers everything from identifying a Hotel Investment, including hotel types, barriers to entry, branded and independent hotels, franchises, upgrade management, putting deals together, CAP Rates, NOI and real estate underwriting, and how to figure out what something is worth.

You will learn about critical topics on hospitality valuation, such as the back of napkin underwriting, the underwriting model for hospitality, how owners, operators, and lenders value a hotel investment, how owners measure returns, macro trends, and economic considerations, branded vs independent, lender metrics for evaluation, illustrating a valuation, Double Tree Deerfield, and the critical topic of due diligence.

This module covers the types of lenders, how leverage amplifies gains and losses, visualizing leverage in real estate, refis and recaps, debt yield and other covenants, recourse vs. Non-recourse, alternative financing, CPACE, as well as a glossary of terms.

Your fourth module covers sourcing a deal, site visits, underwriting, LOI, purchase and sale agreement, due diligence, capital stack, going hard, final inspections, closing and getting all the capital in place.Description text goes here

You will learn about how private equity works, the sponsor-investor relationship, prefs, promotes (carried interest) and waterfalls, how to think about fees, the structures that we use, straight split structure, different types of LPs, preferred equity, partnership / joint venture agreements, recapitalizing a deal.

This module covers all the essential details you need to understand around depreciation and bonus depreciation, recapture and capital gains, income vs capital gains, interest as a deduction, and additional tax loopholes.

This module covers determining the investment strategies, different types of owners, how owners play the real estate game, incremental risk, wealth creation and income enhancement.

We cover control, the JVA and HMA, different types of control and major decision; the manager controls of the day-to-day. The management negotiation process, brand management and more.

Here, we cover decisions about going the route of independent or with a franchise, evaluating the costs of franchise affiliation, the distribution network, brand standards and how they add value, franchise agreement's impact on sale and value, soft brand as a strategy and the dual brand hotel.

In this module will breakdown the strategies around raising equity from outside investors. I will share the template we use to create deal memos that investors love, how we think about deal terms and fees and the best way to start building a network of investors. We will also review investor relations strategies and the common concerns and risks investors identify.

This model covers the critical areas of getting the right fit, evaluating a management company, the owner’s own management agreement, owner and management company negotiating objectives, negotiating key provisions, measuring performance and termination rights.