Prepared for lenders, CDCs, and federal agencies to SBA SOP 50 10 8, USDA RD Instruction 5001, and conventional underwriting standards. Fiduciary duty runs to the lender and the agency, never the borrower. More than 4,000 studies since 1998 covering $40.2 billion in evaluated project value.
Hotel feasibility is penetration analysis against a named competitive set: the demand mix by segment — transient, corporate, group, leisure — the proposed property's fair share given brand, product, and location, and the ADR position the market will actually pay. The study tests RevPAR build-up against the set's performance, models the ramp to stabilization against the loan's interest carry, and addresses brand and franchise economics, PIP obligations on acquisitions, and the labor model behind the service level.
Methodology uses competitive-set occupancy and rate evidence, tourism and demand-generator data, highway counts for transient product, and operator benchmarks from RMA and industry sources. The model carries segmented demand, seasonal curves, and full operating statements tested against program coverage minimums under rate and occupancy stress.
Every Wert-Berater financial model is fully linked with no hardcoded values, so any reviewer can stress any input. Deliverables comprise a complete narrative report and the linked Excel model, with ten-year pro forma, sensitivity analysis at ±5, 10, and 15 percent, interest-rate stress from +0.5 to +3.0 percent, and ratio analysis benchmarked against RMA and IBISWorld data.
SBA engagements are prepared to SOP 50 10 8, including its debt-service-coverage minimums of 1.15x operating and 1.00x global. USDA engagements follow RD Staff Instruction 5001 across the Business & Industry, Community Facilities, REAP, and Value-Added Producer Grant programs. Conventional engagements are built to the lender's stated coverage standard, typically 1.20x. Hotel engagements arrive under SBA 504 and 7(a) for owner-operators — where SOP 50 10 8 treats hospitality as special-purpose property — USDA B&I for rural markets, and conventional lending for flagged product.
The firm's lodging record spans boutique and limited-service product, including hotel components within larger hospitality engagements such as the Temecula estate and a hospitality analysis in the Catskills. Independence is non-negotiable: determinations follow the evidence and are not revised under pressure, and studies are built to pass lender, agency, and third-party review without exception items.
Qualify a project. Tell us about the project and the program. We will tell you the truth about it — scope, timeline, and fee confirmed before work begins.
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