DIY removes some coordination and analysis fees; it does not remove external reports, legal work, data access or your own execution workload. Public evidence supports selected cost anchors, but not a reliable all-in national price for diligence on a 30–150-room boutique hotel.
What published costs can you use as reference points?
| Service | Published reference | Important limitation |
|---|---|---|
| Phase I environmental assessment | AllWest: $3,500–$5,500 plus specified reimbursables | Provider-specific, not a national hotel quote |
| Property-condition assessment | AllWest: $5,500–$50,000+; smaller-property concise format $3,800–$4,800 | Scope, asset complexity and report format differ |
| ALTA survey | AllWest: $4,500–$30,000+ | Site-specific requirements drive scope |
| Follow-up soil, soil-vapor and groundwater investigation | AllWest: $10,000–$40,000 | Only if required; not part of every transaction |
| Market feasibility study | 2026 Autograph FDD: $15,000–$25,000, plus travel/living expenses | Disclosure example for a 200-room hotel, not a quote for the target size |
The first four references come from AllWest’s published FAQ, which describes most single-building assessments as taking 10–12 working days. Its page contains 2025 company context, so reconfirm both prices and delivery rather than presenting them as firm October 2026 offers. The feasibility figure comes from Marriott’s 2026 disclosure. Do not add these into a supposedly typical boutique-hotel diligence total. (allwest1.com)
Which costs still require quotations?
Obtain scoped proposals for transaction and specialist legal work, financial diligence, appraisal, benchmark data, accessibility and building-system specialists, tax work, insurance assessment, design/cost planning and operator/technology transition.
For each engagement, compare:
- Deliverables and exclusions.
- Site coverage, sampling and specialist testing.
- Required inputs and access.
- Lender/owner reliance and permitted report use.
- Fees, expenses, rush charges and cancellation terms.
- Draft, discussion and final-delivery dates.
- What happens if the initial work identifies a need for further investigation.
Maintain a diligence-spend authorization separate from total acquisition uses. Release spending by decision gate, while recognizing that some critical-path reports must be ordered early.
Also maintain a broken-deal ledger: money already committed, potentially refundable amounts and further expenditure needed to reach the next decision. Do not let sunk diligence costs justify accepting a newly discovered investment problem.