Who we are
Wert-Berater, Inc. has prepared independent feasibility studies for lenders, certified development companies, and federal agencies since 1998 — more than four thousand engagements representing $40.2 billion in evaluated project value across all fifty states and international assignments. Our fiduciary duty runs to the lender and the agency, never to the sponsor’s optimism: fees are fixed, quoted up front, never contingent on findings, and a determination is never changed under pressure.
What we do
Feasibility studies for hotels, motels, extended-stay, boutique and resort properties — new construction, acquisition, conversion, and PIP-driven repositioning — under SBA 504, USDA B&I in eligible areas, and conventional structures. The study covers the brand decision, the competitive set, segmented demand, ADR positioning, the ramp, and the FF&E reserve discipline the refinance lender will inspect at year seven.
How we do it
The methodology is penetration analysis: fair share = your rooms ÷ the set’s rooms; penetration index = your occupancy ÷ the set’s occupancy × 100 — and every point above 100 carries a stated burden of proof: product age, brand distribution, location advantage, named and defended. Demand is segmented — transient, corporate, group, extended-stay — with concentration risks quantified; ADR claims anchor to named comparables; and the ramp is modeled at the market’s documented pace, not a single optimistic season.
How we can help you
Hotel files carry the industry’s most polished optimism — penetration above 100 against newer product, system-average RevPAR on a location the brand would tier lower, FF&E reserves at token percentages. We rebuild the honest case and then close the gap it opens: the flag with stronger distribution, the room count the set supports, the interest-only period sized to the real ramp, the operating shortfall funded at closing. The result is a study the committee can stress without it falling over — which is what gets hotels financed.
How to engage us
Standard delivery is 10 to 15 business days from complete project data. Rush delivery for deals already in underwriting is accepted case by case for an additional fixed fee, quoted up front and committed in writing. Engagements are typically initiated by the borrower, with lender or CDC confirmation obtained before work begins — institutions differ, so confirm the procedure with your lending contact.