The Path a Deal Takes
From first conversation to committed structure — six stages, nothing hidden.
The proposed model moves a deal through six stages. Each one names what the platform would do, what it would need from an owner, and what the owner would receive before the next stage begins.
Six Stages
The path a deal takes.
Stage 01
Conversation
You describe the asset and the situation in your own words. We tell you honestly whether this is a fit before you assemble anything. No documents required.
Stage 02
Read the Asset
Location, submarket, brand or independence, physical condition, and the story of how it got here. We read the hotel as an operating business, not a line item.
Stage 03
Normalize
Operating statements are stripped of owner anomalies, one-time credits, related-party charges, and under-reserved FF&E. What is left is the asset's real earning power.
Stage 04
Structure
Terms are drafted around the business plan and its timing. You see the logic behind each condition, not just the condition.
Stage 05
Stress-Test
The structure is run against a hard downside: occupancy troughs, wage inflation, capital cost overrun, and a slower ramp than anyone wants to model.
Stage 06
Commit
A documented decision with the reasoning attached. If it is a no, you get the reasons in full — they are usually worth more than the loan would have been.
No stage advances until the prior one is documented. That is what makes the last one fast.
What We Ask For
What you send, and when.
Nothing exotic, and nothing before it is relevant.
At the conversation — Nothing. A few sentences about the asset, the situation, and what you are trying to accomplish.
Reading the asset — Trailing operating statements, current STR or comparable performance data if you have it, and the franchise or management agreement.
Normalizing — Detail behind unusual lines — owner compensation, related-party expenses, deferred maintenance, and recent capital spend.
Structuring — Your business plan and its timing, the capital stack as it stands, and the constraints you are actually working under.
Commitment — Standard third-party diligence. Nothing is requested before it has a purpose.
Start the Conversation
Submit a scenario.
Stage one costs you an email and a short description.