Key MarginBoutique hotels. Real returns.
Independent boutique hotel investment researchUnited States

Comparisons

How do you keep a comparison fair when the proposals arrive at different times?

Key Margin research deskSection 03Page 12 of 16

Freeze the baseline, then record every change explicitly. A later bidder should not appear superior merely because it used a different trading period, assumed new capital or omitted the transition year.

Use a common comparison date and a change register containing the old input, new input, source, reason and effect on owner cash. Re-run all shortlisted options when the baseline materially changes. Preserve bidder-specific forecasts in a separate view so that the team can distinguish contractual economics from execution claims.

Comparison error Correction
One operator includes payroll support in its fee and another charges separately Add the same required scope to both total-cost schedules
One brand case includes renovation while the independent case assumes no investment Compare feasible capital programmes and identify which spending is truly incremental
One debt offer reports gross proceeds and another reports net funds at closing Reconcile fees, reserves, payoff costs and cash actually available
One renovation budget excludes room closures Add the monthly operating disruption and its funding source
One proposal has missing evidence Preserve the missing status; do not award an average rating

The compact weighting example in this document is illustrative. For a live evaluation, choose one approved weighting profile before bids arrive; the separate 100-point Scorecard document supplies the fuller evidence-coverage and critical-gate method. Do not average scores from different rubrics as though they measured the same thing.

Sources cited on this page

This page sets out a desk framework or research method. Inspect the section’s evidence and limitations in Sources .