Hotel Pro Forma
Real Estate Excel Template (Free Download)
Turn occupancy, ADR, room mix, departmental revenue, and operating costs into a projected hotel investment output.
professionals from Deloitte
About this pro forma
This pro forma presents projected operating and investment results for a hotel using hospitality-specific drivers. The underlying Excel model is the engine: rooms sold, ADR, segment mix, food and beverage, departmental costs, management fees, capex, and working capital flow into the projected P&L and valuation.
Use the output to assess RevPAR, departmental profitability, operating leverage, capital requirements, and acquisition or development returns.
What every model includes
Live formulas, no hardcoded values
Outputs are driven by live formulas, so the workbook updates from its assumptions instead of relying on hardcoded results.
All assumptions in one tab
Inputs are clearly marked in the Assumptions tab and separated from calculations, making it clear what to change and what to leave intact.
Statements always balancing
For integrated-statement models, the balance sheet, cash flow, and supporting schedules tie through properly.
Distinct schedules for clarity
Debt, working capital, taxes, and cash flow can get messy quickly. We group calculations in clear schedules, not across disconnected tabs.
No hidden macros or external links
There are no unexplained external workbook links or macros to undermine auditability or portability.
Changes flow through the model
Update a key driver and see the impact carry through the forecast, financing, and return outputs. We never use hardcoded numbers in formulas.
What's inside the Hotel Pro Forma
- Projected rooms, occupancy, ADR, RevPAR, and segment mix
- Projected rooms, food-and-beverage, and ancillary revenue
- Projected departmental costs, undistributed expenses, and management fees
- Projected EBITDA, EBIT, taxes, and net income
- Projected replacement and growth capex with free cash flow
- Projected USALI-style margins, valuation, and hotel KPI dashboard
Formatted to IB standards
Named theme colors repaint the whole workbook in one click, on top of an investment-banking structure with clear input, output, and cross-sheet reference styling - brand-ready, institutional-grade, and fully auditable.
Created by ex-finance professionals
Hey, I’m Alex and I created Finamodel.
Over my years in the finance industry I kept building the same models over and over again. Same structure, same assumptions, different logo. So I started building frameworks to turn them into clean, reusable templates.
Every model here is one I’d actually use for a client, and I personally vet each one before it goes up.
I’m not an expert in every industry, but I’ve built enough models to know what belongs in one. And when something is completely foreign to me, I reach out to my network for experts to work on our models with us.
Having a template library on hand cuts a first build from hours to minutes.
Need help finding your model? You’ll find me in the Finamodel app!
Frequently asked
What does a hotel pro forma project?+
It projects occupancy, ADR, RevPAR, departmental revenue, expenses, EBITDA, cash flow, and hotel value.
How is hotel revenue projected?+
Rooms sold and ADR drive room revenue, while food and beverage and other departments add separate operating streams.
Who uses this hotel pro forma?+
Hotel owners, developers, asset managers, investors, lenders, and hospitality advisors use it for underwriting.
Can I model different hotel types?+
Yes. Flex occupancy, ADR, segment mix, labor intensity, margins, capex, and fees for different operating concepts.
Have more financial modelling questions? Contact us
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