Hospitality as a real estate industry terms refers primarily to hotels, but can include other short-term accommodation options including resorts, motels, cabins, and even newer models like "glamping" (upscale outdoorsy hospitality). All of these follow an underwriting framework based on Rev PAR (Occupancy * Average Daily Rate * Available Inventory) over expenses. Hotels and the like are more seasonal and more cyclical than other real estate asset classes. There are lenders that specialize in underwriting and originating hospitality loans because they have a firm grasp of the success drivers of the model, and they heavily scrutinize the hotel's brand reputation, the sponsor's experience, and the location's demand drivers. StackSource can help underwrite and originate hospitality loans without the hassle of hunting for the right lenders and translating the project into their requirements yourself.
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