Use the purchase agreement’s actual deadlines, not a generic promise that a hotel can close in 30 days. Seyfarth’s May 2025 hotel-transactions presentation describes diligence periods often lasting 45–60 days, followed by 30–60 days to close. That is practitioner guidance, not a measured national median; financing, franchise consent and other conditions can change the timetable. (seyfarth.com)
The following is a proposed buyer-side schedule. Activities overlap; do not add every row together.
| Stage | Suggested planning allowance | Dependency or decision gate |
|---|---|---|
| Mandate, team and initial screen | 1–2 weeks | Capital authority and a credible operating concept |
| Preliminary underwriting and offer | 1–3 weeks | Basic financials, early lender feedback and initial capital scope |
| Purchase agreement and access arrangements | Counsel-set | An executable diligence and termination calendar |
| Financial, market and technical investigation | Run in parallel during negotiated diligence | Complete records, inspection access and specialist availability |
| Operator or affiliation competition | Allow 6–10 weeks as a project-management target | Existing agreement, common information pack and bidder availability |
| Final financing and closing conditions | Lender-, contract- and authority-set | Accepted reports, approvals, insurance and funded equity |
| Transition preparation | Begin before closing | Employer, systems, reservations and banking responsibilities agreed |
| Initial ownership review | First 100 days | Reconcile actual performance against the acquisition case |
For an operator-only assignment, the suggested 6–10 weeks covers comparison and negotiation—not a guarantee that an incumbent can be replaced within that period. Contract notice and termination provisions control the exit.
Which dated changes belong in a 2026 checklist?
- Accounting: January 1, 2026 was the adoption date announced for USALI’s 12th Revised Edition. Ask which edition each historical statement and proposed budget uses, and obtain an account-mapping bridge rather than assuming identical classifications. (ahla.com)
- Survey instructions: the 2026 ALTA/NSPS land-title survey standards took effect on February 23, 2026, replacing the 2021 version. Ask the surveyor, title company and lender to agree the required certification and optional Table A items. (alta.org)
- Guest-price presentation: the FTC’s Rule on Unfair or Deceptive Fees took effect on May 12, 2025. It addresses upfront total-price disclosure and misleading fee practices for short-term lodging; it does not generally prohibit particular fee amounts. Include website and booking-channel price presentation in operational diligence. (ftc.gov)
- Small-business financing: SBA’s lender resources identify an SOP 50 10 8.1 changes-of-ownership update effective October 1, 2026. Have the originating lender identify the applicable current procedure rather than relying on an old acquisition-financing checklist. (sba.gov)