LIST
OF ITEMS REQUIRED TO UNDERWRITE A
HOTEL
 Download
.pdf file
HOTEL WORKSHEET
 Hotel
Worksheet
(The
need for items #15-17 will vary according
to each situation)
1.
Most recent trailing 12 month INCOME/EXPENSE
STATEMENT in standard Hotel accounting
format. Go to FORMS and then HOTEL SPREADSHEET
at www.winter-co.com to download Excel
spreadsheet.
2.
LAST 3 YEARS’ INCOME/EXPENSE STATEMENTS
with monthly and annual figures.
3.
SUMMARY OF ALL COMMERCIAL OR DEPARTMENTAL
LEASES (if any) showing escalations and
expirations, as well as a summary of the
terms of any franchise agreements.
4.
COMPLETE, DETAILED PHYSICAL DESCRIPTION
INCLUDING SQUARE FOOTAGE.
5.
IF ACQUISITION, PROVIDE COPY OF FULLY EXECUTED
CONTRACT OF SALE.
6.
IF REFI, PRICE ORIGINALLY PAID FOR PROPERTY,
date of purchase and summary of current
financing.
7.
PHOTOS, if available, and website information.
8.
SITE PLAN OR PROPERTY SURVEY.
9.
SUMMARY OF CURRENT FINANCING (refinance
only) including:
- Current
lender
- Current
principal balance
- Current
interest rate
- Current
monthly payment
- Due
date
- Prepayment
penalty information
10.
CURRENT FINANCIAL STATEMENT for BUSINESS/ENTITY
with Balance Sheet.
11.
LAST 3 YEARS’ BUSINESS TAX RETURNS.
12.
BACKGROUND / BIO FOR EACH PARTNER AND FOR
THE OWNERSHIP ENTITY EMPHASIZING HOTEL
/ HOSPITALITY INDUSTRY / REAL ESTATE EXPERIENCE.
13.
BACKROUND / INFORMATION ON MANAGEMENT COMPANY,
if separate from ownership.
14.
RENOVATION HISTORY FOR AT LEAST 3 YEARS
with project descriptions and approximate
amounts of each project.
15.
CURRENT PERSONAL FINANCIAL STATEMENT(S).
(for partners who own 20% or more)
(If you do not have a recent accountant
prepared financial statement, please click
here for a pdf form)
16.
LAST 2 YEARS’ PERSONAL TAX RETURNS.
(for partners who own 20% or more)
17.
PERMISSION TO RUN CREDIT REPORT(S): Please
print the CREDIT
REPORT AUTHORIZATION pdf file. (Please
make copies for each individual in the
case of a corporation or partnership, complete
and fax back to 212-532-1222). |
