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HOTEL
r
(The need for items #15-17 will vary according to each situation)
1. Most recent trailing 12 month INCOME/EXPENSE STATEMENT in standard Hotel accounting format.
( Ensure to provide ADR( Average Daily rate); revenue per available room & STAR report, if available )
2. LAST 3 YEARS’ INCOME/EXPENSE STATEMENTS with monthly and annual figures.
3. SUMMARY OF ALL COMMERCIAL OR DEPARTMENTAL LEASES (if any) showing escalations and expirations, as well as a summary of the terms of any franchise agreements.
4. COMPLETE, DETAILED PHYSICAL DESCRIPTION INCLUDING SQUARE FOOTAGE.
5. IF ACQUISITION, PROVIDE COPY OF FULLY EXECUTED CONTRACT OF SALE.
6. IF REFI, PRICE ORIGINALLY PAID FOR PROPERTY, date of purchase and summary of current financing.
7. PHOTOS, if available, and website information.
8. SITE PLAN OR PROPERTY SURVEY.
9. SUMMARY OF CURRENT FINANCING (refinance only) including:
- Current lender
- Current principal balance
- Current interest rate
- Current monthly payment
- Due date
- Prepayment penalty information
10. CURRENT FINANCIAL STATEMENT for BUSINESS/ENTITY with Balance Sheet.
11. LAST 3 YEARS’ BUSINESS TAX RETURNS.
12. BACKGROUND / BIO FOR EACH PARTNER AND FOR THE OWNERSHIP ENTITY EMPHASIZING HOTEL / HOSPITALITY INDUSTRY / REAL ESTATE EXPERIENCE.
13. BACKROUND / INFORMATION ON MANAGEMENT COMPANY, if separate from ownership.
14. RENOVATION HISTORY FOR AT LEAST 3 YEARS with project descriptions and approximate amounts of each project.
15. CURRENT PERSONAL FINANCIAL STATEMENT(S). (for partners who own 20% or more) (If you do not have a recent accountant prepared financial statement,
16. LAST 2 YEARS’ PERSONAL TAX RETURNS. (for partners who own 20% or more)
17. PERMISSION TO RUN CREDIT REPORT(S): Please print the CREDIT REPORT AUTHORIZATION . (Please make copies for each individual in the case of a corporation or partnership, complete and fax back to 866-460-2265 |
