Hospitality

Hotel Underwriting, Automated

Extract STR reports, P&L statements, and room mix data from any document. Stop retyping RevPAR figures. Start analyzing 3x more deals.

Teams save 10+ hours per week on underwriting.

See it with your STR reports How it works
Documents We Process
STR Reports P&L Statements Room Mix Reports F&B Revenue Franchise Agreements

Trusted by teams at

Colliers Monday Properties Blue Roc Premier Safeguard Self Storage North Lone Star Capital Boardwalk Storage Lee and Associates
STR STAR Report - Extracted
RevPAR vs Comp Set Last 12 Months
Q1
Q2
Q3
Q4
RevPAR
$142
+8.2% YoY
ADR
$189
+5.1% YoY
Occupancy
75.1%
+2.8 pts
Index Performance vs Comp Set
RevPAR Index (RGI)
108.3
ADR Index (ARI)
102.1
Occupancy Index (MPI)
106.0
Rooms
248 Keys
Comp Set
5 Hotels
STR extracted

More deals.

Same bandwidth.

Hotel teams using Primer review 3x more properties with the same headcount.

Your Current Workflow
With Primer
Additional hotels reviewed
+28 per month

Hotels you'd otherwise triage out

Hours back for analysis
56 per month
Book a demo

We'll use your actual STR reports and P&Ls.

From STR Report to Model in Minutes

Upload your deal package. Get your model back, filled.

01

Drop Your Deal Package

Hotel docs we process

STR Reports P&Ls Room Mix
02

AI Extracts & Reconciles

What Primer does

USALI Format Flags Conflicts Cites Sources
03

Your Model, Filled

Output format

Your Template (.xlsx) CSVs
Every value cited
Verify in seconds, not hours
All docs at once
STR + P&L + Room Mix → one run
Live in 48 hours
One-time model mapping
What We Extract

Every document in your hotel deal package

If a human analyst can read it, Primer can extract it.

STR Reports

STAR reports, trend reports, and custom STR exports. RevPAR, ADR, occupancy, and comp set index data extracted automatically.

P&L Statements

USALI format departmental statements with 50+ line items. Revenue by department, payroll, and operating expenses.

Room Type Mix

Room counts by type (standard, suite, executive), ADR by room category, and occupancy by segment.

F&B Revenue

Restaurant, bar, room service, and banquet revenue. Cost of goods sold and departmental profit margins.

Franchise Agreements

Royalty fees, marketing contributions, reservation fees, and PIP (Property Improvement Plan) requirements.

PMS Exports

Reports from Opera, Maestro, Protel, or any property management system. Any format, any export.

Why hotel underwriting is different

Daily rate volatility, multiple revenue departments, and brand obligations require specialized extraction.

01

STR competitive set analysis

Automatically calculates RevPAR Index (RGI), ADR Index (ARI), and Occupancy Index (MPI) from STR data. Compare subject performance against comp set in seconds.

02

USALI departmental mapping

Understands Uniform System of Accounts for the Lodging Industry (USALI) format. Maps room revenue, F&B, other operated departments, and undistributed expenses correctly.

03

Franchise fee extraction

Extracts royalty fees, marketing contributions, reservation fees, and loyalty program costs from franchise agreements and FDD documents. Model total franchise burden accurately.

04

Seasonality pattern recognition

Identifies seasonal revenue patterns from monthly P&L data. Calculates peak vs. off-peak performance and annualizes partial-year financials correctly.

05

PIP requirement parsing

Extracts Property Improvement Plan requirements from brand standards documents. Categorizes by room renovation, FF&E, public area, and technology upgrades with estimated costs.

Metrics

Hotel metrics we extract

RevPAR

Revenue per available room, calculated and trended from STR and P&L sources

ADR

Average daily rate by month, segment, and comp set comparison

Occupancy

Occupancy percentage with seasonality patterns and market penetration

Room Revenue

Total room revenue mapped to USALI departmental format

F&B Revenue

Food & beverage broken down by outlet with margin analysis

Franchise Fees

Royalty, marketing, and reservation fees as percentage of revenue

Comp Set Index

MPI, ARI, and RGI indices from STR competitive set data

GOP & NOI

Gross operating profit and net operating income with departmental rollup

Common

Questions.

How accurate is the extraction?

We maintain 98%+ accuracy by combining AI with deterministic validation rules. The system flags low-confidence fields for human review, so bad data never reaches your model.

98%+ Accuracy
STR Reports 99.2% Match
P&L Statements 98.6% Match
Franchise Docs 97.9% Match

Does it work with my Excel model?

Yes. We map to YOUR existing Excel template during a one-time setup. Data flows directly into your format.

What hotel docs work?

If a human can read it, Primer can extract it.

STR Reports
P&L Statements
Franchise Docs
PIP Reports

How long to get started?

We can get your team live within 48 hours. One-time mapping of your Excel model, and you're ready to process deals.

1
Share your model
2
We map it (24h)
3
Go live

Partnered with

the industry's best.

"Borderline deals used to get deprioritized. Now we send them to Primer. We've put in offers on deals we probably would've passed on."

Doug Steverson
Doug Steverson
Chief Operating Officer at Boardwalk Storage

"Primer turns a 2-4 hour manual task into something that's done automatically. We get more BOVs out the door and ultimately win more listings."

Tom de Jong
Tom de Jong
Executive Vice President - Colliers

See Primer with your STR reports

We'll show you your actual docs → your model.

Book a demo