Hotel pre-acquisition: which analyses before signing?
Acquiring a hotel or motel differs fundamentally from residential real estate: value depends on the operation (RevPAR, GOP, EBITDA), not only on surface area. An informed decision requires six analytical angles: income-based valuation, debt coverage, operating forecast, energy compliance, competitive positioning, and — for international buyers — E-2 visa eligibility.
Method: combining income and comparables approaches
Professional hotel valuation blends two methods. The income approach discounts stabilised EBITDA at a capitalisation rate reflecting operational risk (5-9% depending on category). The comparables approach applies a price per key observed on recent transactions (€40k-€350k by segment). The retained value is typically a weighted average.
USALI: the common language of hotel P&L
The Uniform System of Accounts for the Lodging Industry (11th ed., 2014) standardises hotel P&L presentation worldwide: Rooms / Food & Beverage / Other Operating Departments, then fixed charges, FF&E reserve (4% standard) down to EBITDA. A buyer reasoning in USALI communicates in a standardised way with banks, appraisers and operators.
Frequently asked questions
What does the Hospitality Solutions hub cover?
Two complementary sides. (1) Day-to-day operations (PMS): bookings, rooms, rate plans, calendar, check-in/out, 3% VAT invoicing, guests (GDPR CRM), ADR/RevPAR reports, iCal export. (2) Financial analysis and decision support: RevPAR/EBITDA valuation combining DCF + comparables, DSCR & financing, USALI P&L, RevPAR vs market (MPI/ARI/RGI), group benchmark, E-2 visa score, 50-point due diligence, energy retrofit with Klimabonus for the tertiary sector.
Is the PMS compliant with Luxembourg tax rules?
Yes. Lodging VAT 3% (art. 40 LU VAT law 12.02.1979 + annex B), F&B VAT 17% (or 14% / 8% depending on products), commune-level tourist tax configurable per property (€3/night/adult in Luxembourg-City in 2026), invoice immutable once issued (art. 61-63 VAT law + grand-ducal regulation 24.03.2023 on e-invoicing). Guest data follows GDPR with scheduled deletion 3 years after the last stay, except tax obligations (10 years — art. 16 AO).
Can I sync with Booking, Airbnb, Expedia?
Yes via a read-only iCal feed (RFC 5545) per property or per room. You paste it into your Booking / Airbnb / Expedia extranet so they block occupied dates. We don't push inventory nor run a bidirectional channel manager — this is intentional: it avoids overbookings caused by desync and stays within the limits of free self-serve APIs.
What is the difference between GOP, EBITDA and net income?
GOP (Gross Operating Profit) = total revenues − operating charges; the operator's performance indicator. EBITDA = GOP − FF&E reserve (4% USALI 11th ed.); the debt-service capacity indicator used by banks. Net income = EBITDA − interest − depreciation − taxes; the accounting result.
Do the tools work for a hotel in France, Belgium or Germany?
The financial analysis, yes: RevPAR, EBITDA, DSCR, USALI and E-2 visa are international standards. The PMS, however, defaults to LU tax rules (3% VAT + commune tourist tax) — usable cross-border by adjusting the VAT rates per property, but not yet auto-configured for other countries. Klimabonus and renovation aids are strictly Luxembourgish.
Do I need a TEGOVA expert for a bank?
For a secured hotel loan (>€1M), most LU/BE banks require a TEGOVA EVS 2025 report signed by a qualified appraiser. Our tools allow pre-qualification of a file before ordering that expert work. The /valorisation EVS module generates a SHA-256 signable report with a public verification block on /verify.