# Hospitality Broker Opinion of Value Template (Markdown)

Free Hospitality Broker Opinion of Value structure from IntellCRE (intellcre.com/models/hospitality-broker-opinion-of-value-template/). Anything in [square brackets] is a placeholder to replace with your own facts. Nothing here is real property data.

How to use: paste this into Claude, ChatGPT, Gemini or any assistant together with your deal facts, or fill it in by hand and paste it into your own document.

Skip the typing: IntellCRE builds this from your deal documents. Try it, free to start: https://app.intellcre.com/register

---

## 1. Executive Summary: Price Estimate

- **Concluded value, low, high, effective date:** [ ]
- **Price per key:** [ ]
- **ADR:** [ ]
- **RevPAR:** [ ]
- **Occupancy:** [ ]
- **Brand / flag:** [ ]
- **NOI margin:** [ ]

## 2. Property Overview and Photos

- **Key count and room mix:** [ ]
- **Brand, franchise term and PIP status:** [ ]
- **Year built / last renovated:** [ ]
- **Food and beverage and meeting space:** [ ]
- **Management (owner / third party):** [ ]
- **Parking and amenities:** [ ]

## 3. Operating Performance

- **Period:** [ ]
- **Occupancy:** [ ]
- **ADR:** [ ]
- **RevPAR:** [ ]
- **Total revenue:** [ ]
- **GOP:** [ ]
- **NOI:** [ ]

## 4. Sale Comps Summary and Detailed

- **Columns:** Keys, Brand, Sale price, Price per key, RevPAR at sale, Cap rate, Year built

## 5. Rent Comps Summary

- **Columns:** Hotel, Keys, ADR, Occupancy, RevPAR, Segment

## 6. Income and Expenses

- **Current and proforma:** [source and period]

## 7. Valuation Approach and Reconciliation

- **Method:** Income approach on stabilized NOI after FF&E reserve and franchise and management fees, cross-checked with price per key and RevPAR comps; penetration indexes against the competitive set show how the hotel performs versus the market.
- **Weights and range:** [ ]

## 8. Market Overview

- **Market occupancy:** [Value; source and date]
- **Market ADR:** [Value; source and date]
- **Market RevPAR:** [Value; source and date]
- **Supply pipeline (rooms):** [Value; source and date]
- **Demand drivers (corporate, leisure, group):** [Value; source and date]
- **Seasonality:** [Value; source and date]

---

## Drafting rules

- Use only facts the user supplied. Never invent property data, tenants, statistics, comps or quotes.
- If a fact is missing, write [TBD: what is needed] in its place.
- Every market statistic needs its source and date as given by the user; otherwise mark it [TBD: source and date].
- Show arithmetic for any figure you derive and flag it as calculated.
- Write in plain, factual US English. Avoid unsupported superlatives.
- Avoid this hospitality mistake: quoting revpar without adr and occupancy.
- Avoid this hospitality mistake: ignoring the pip.
- Avoid this hospitality mistake: using cap rate on revenue instead of noi after reserves.
- Avoid this hospitality mistake: not stating whether figures are owner- or manager-prepared.
- Apply only the adjustments and cap rates the user supplies; if none are given, ask.
- State that a BOV is not an appraisal and is not a substitute for one where an appraisal is required.
- Leave confidentiality and disclaimer text as [Insert the brokerage's counsel-approved language].