Location Required: e.g. London (Zone 1-3 on the tube), Greater London (within the M25), UK major cities (e.g. Bristol, Manchester, Edinburgh, Glasgow, Birmingham) or European major/capital cities. We do work further afield, but Europe is our “home patch”
Size: 50-100 rooms; 100 – 150 rooms; 150 – 300 rooms
Budget: Either overall budget (you need to have ready cash reserves of 50% or more of total cost of project) or £/€ per room/key. What level of star rating? Any specific hotels you can name that fit the bill?
Credibility: Website or Profile showing shape & size of your company, hotel assets you already hold, signs of funds, name of your lawyer
Your Identity: We will keep your identity confidential until you allow us to pass this on to prospective seller
Timing: By when would you like to complete a purchase?
Development or otherwise: Are you looking for potential to refurbish a currently operating hotel, a new development on a greenfield site, or an existing “polished” hotel
Brand/Management: If the latter, the buyer’s wish for existing or new major chain/brand affiliation…with or without management… i.e. is this an investment, or a desire to manage the hotel asset hands-on?
Risk attitude: In certain major European cities, the lowest cost option is to take an office-building, probably with an income stream, and go through a one-year plus risk on getting appropriate hotel-consent planning…is this an option?
Yield: If you want an existing, chain- branded/managed hotel what is the minimum yield you are looking for…which is more important yield or asset value?
LOI (Letter of Intent): Can we identify you, as the client, prior to the issue of a LOI? Either way, once we outline a specific property…i.e. establish it is for sale and at what price, the next step (in order to get financial statements for evaluation) will be to issue an LOI to the prospective vendor…any issues with this…can we get a template prepared?