10-year CAPEX plan

Forecast of hotel maintenance investments: annual FF&E reserve, soft refresh (5 years), hard refresh (10 years), major renovation (20 years). HVS / PwC / Hotel Tech Report 2024 benchmarks by category.

Parameters

Annual revenue

€

Applied ratios

Annual reserve5.0 % of revenue

Soft refresh (5 years)2.5 %

Hard refresh (10 years)9.0 %

Major renovation (20 years)18.0 %

Total CAPEX 10 years

2.880.000 €

Annual average

288.000 €

% of annual revenue

6.4 %

Breakdown by type

Reserve

2.250.000 €

Soft refresh

225.000 €

Hard refresh

405.000 €

Major reno.

0 €

Annual forecast

2027

225.000 €

2028

742.500 €

2029

225.000 €

2030

225.000 €

2031

225.000 €

2032

225.000 €

2033

337.500 €

2034

225.000 €

2035

225.000 €

2036

225.000 €

HVS / PwC 2024 benchmark: an FF&E reserve (Furniture, Fixtures & Equipment) of 3-6% of revenue is standard. International franchises (Marriott, Hilton, Accor) often impose a contractual minimum (PIP, Product Improvement Plan). For an independent hotel, budget annually in the operating cash flow (otherwise quick drift vs chains).

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