🏨  Course 11: Hospitality & Hotel Lending

Hotels are financed more like an operating business than a building — income resets every single night, with no lease to anchor projections to.

This course explains flag affiliation, FF&E reserves, and revenue volatility, and shows you exactly how ADR, occupancy, and RevPAR come together to drive a hospitality underwrite.

What you'll walk away with:

✅  Why flag affiliation changes your financing options

✅  How FF&E reserves and PIPs actually work

✅  RevPAR, ADR, and occupancy — and which lever actually matters

✅  A slow-season cash flow stress test worksheet

16-page digital guide  ·  2 worksheets  ·  glossary of key terms

For anyone financing a hotel and wondering why it feels so different.