Saltvale & Co. · Buyer-Side Tools

Mexico hospitality underwriting tool.

Underwrite a boutique hotel the way it actually trades in Quintana Roo — fideicomiso, IVA credits, acquisition tax, and a value-add path to a stabilized yield-on-cost. Built for principals and family offices doing first-pass deal screens. Pair it with the closing-cost & IVA estimator.

Property & revenue

In-place trailing performance (year 1).

Asking / purchase price

Keys (rooms)

ADR avg daily rate

Occupancy

F&B revenue annual, restaurant + bar

Other revenue spa, events, resort fee

Operating

As a share of total revenue unless noted.

Operating expense ratio ex-mgmt, ex-reserve

Management fee

FF&E reserve

Property tax + insurance annual, fixed $

Acquisition & Mexico structure

The costs foreign buyers actually carry.

Closing costs ISAI acquisition tax, notario, legal

Fideicomiso setup one-time bank trust fee

Renovation / capex budget

IVA recovered on capex 16% VAT, reclaimable

Financing

Leave LTV at 0 to underwrite all-cash.

Loan-to-value

Interest rate

Amortization

yrs

Value-add & exit

Stabilized targets after the business plan.

Stabilized ADR

Stabilized occupancy

Stabilized opex ratio

Years to stabilize

yrs

Exit cap rate

Hold period

yrs

Underwriting summary

Stabilized yield on cost

—

stabilized NOI ÷ all-in basis

Going-in cap

—

year-1 NOI ÷ price

All-in / key

—

total basis

Cash-on-cash (stab.)

—

levered, stabilized

DSCR (stab.)

—

NOI ÷ debt service

Levered IRR · 5yr hold

—

equity multiple

Year-1 total revenue—

Year-1 NOI—

Stabilized NOI—

Equity required—

IVA credit recovered—

All-in basis (net of IVA)—

For first-pass screening only. Outputs are estimates driven entirely by your inputs and simplifying assumptions (straight-line stabilization, level debt service, F&B and other revenue scaled with rooms revenue at stabilization). Not investment, tax, or legal advice. IVA recoverability, ISAI rates, and fideicomiso costs vary by municipality and structure — verify with Mexican counsel before committing capital. Saltvale & Co. provides the full underwriting and document set under NDA.