| Your position today | Next action | Evidence required to advance | Decision to record |
|---|---|---|---|
| You have an idea but no property or live mandate | Write the acquisition or operating mandate | Target geography, room range, service model, capital limit and decision authority | Search within this mandate, revise it, or stop |
| You have a target but only an offering memorandum | Obtain an authorised initial data room and screen the critical assumptions | Historical monthly trading, capital needs, contracts, lawful-use information and proposed funding | Spend on focused diligence, request missing evidence, or decline |
| You are comparing operator or brand proposals | Freeze one common operating baseline | Reconciled accounts, full fee schedules, staffing plans, required works and contract terms | Advance a conditional shortlist or request clarification |
| You are investigating adaptive reuse | Test lawful use and physical room yield alongside demand | Planning discussion, measured test-fit, access/services constraints and preliminary cost scope | Fund the next design stage only if the concept remains credible |
| You face maturity or a cash shortfall | Reconcile monthly cash and the exact financing timetable | Loan agreement, payoff figures, current terms, reserve restrictions and committed capital | Pursue refinance, inject equity, resize works or consider another exit |
| You are ready to sign or release funds | Close the remaining conditions with named owners | Final documents and evidence of funding, insurance, authority and lawful operation | Proceed on stated conditions, renegotiate, defer or stop |
A missing critical item means “unresolved”, not “probably fine”. Keep analysis moving on reversible work while avoiding commitments that depend on the unresolved item. A generic checklist cannot determine a specific hotel’s legal status, insurance cover or finance eligibility.