Desk checklist:
- [ ] Refresh the five largest uncontracted operating-cost assumptions.
- [ ] Put all operator proposals on one revenue and staffing case.
- [ ] Separate proposed hotel supply from operating comparables.
- [ ] Clear any expired-license question before closing.
Reply with “BID,” your market, room count and decision deadline to scope a Boutique Hotel Bid Stress Test. Please do not email guest records or confidential financial attachments before agreeing a secure transfer method.
Investment research, not an appraisal, legal opinion or financing commitment.
Draft 2 — Monthly digest
Subject: September boutique hotel digest: revenue growth is not the owner’s return
Preheader: A rate increase, a conversion transaction and a practical test of soft-brand fees.
Edition: September 2026 review, prepared October 20, 2026