Hotel finance calculators: loan sizing, value, and refinance vs sell
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Matthews Hotel Markets publishes 6 hotel calculators. Each one shows its formula and a worked example in the page itself. The loan tools ask for your own lender's tests instead of asserting them, because lenders do not publish their sizing tests. Two benchmarks appear: the 10-year Treasury at 5.29% on September 30, 2026, from our October 2026 rate sheet, and the cap rate bands of the Q1 2026 Matthews Hotel Index, which only the value estimator uses. See the rate sheet.
The calculators
- What is my hotel worth? A hotel value estimator that gives a screening range
Enter keys, NOI or revenue and margin, segment, market and PIP. Get a value range and per-key range from the Matthews Hotel Index cap rate bands. No sign-up.
You enter: Segment, Market (optional), Keys (rooms), Annual NOI, Total revenue (used only if NOI is 0), NOI margin (%) (used only if NOI is 0), Planned PIP cost.
You get: Cap rate band used, NOI used, Screening value range, after PIP, Per-key range, after PIP. - How big a loan can my hotel support? A hotel loan sizing calculator
Enter NOI, value, rate, amortization and your lender's DSCR, debt yield and LTV tests. See the loan under each test, which one binds, and the equity. SBA 504 mode included.
You enter: Annual NOI, Appraised value, price or total project cost, Index rate (%), Your quoted spread (percentage points), Amortization (years), Your lender's DSCR test, Your lender's debt yield test (%), Your lender's LTV or LTC test (%).
You get: Max loan, DSCR test, Max loan, debt yield test, Max loan, LTV / LTC test, Binding constraint, Loan the three tests support, Implied equity. - Hotel refinance vs sell calculator: which path leaves me more cash?
Enter NOI, loan balance, rate, your lender's DSCR test, a cap rate, sale costs and the PIP. See refinance proceeds, net sale proceeds and the gap.
You enter: Annual NOI, Current loan balance, New loan rate (%), Amortization (years), Your lender's DSCR test, Cap rate for the sale (%), Sale costs (% of price), PIP still to fund.
You get: Max refinance proceeds, Refinance cash after payoff and PIP, Value at your cap rate, Net sale proceeds, pre-tax, The gap (sale minus refinance). - Hotel DSCR calculator: will my loan size?
Calculate debt service coverage ratio on a hotel loan and see the loan size your NOI supports at the test your lender actually stated.
You enter: Annual NOI, Loan amount, Interest rate (%), Amortization (years), Your lender's DSCR test.
You get: Monthly payment, Annual debt service, DSCR, Versus the test, Max loan at this test. - Hotel debt yield calculator: how big a loan does my NOI support?
Calculate debt yield on a hotel loan from NOI and loan amount, then see the maximum loan at the debt yield test your own lender stated.
You enter: Annual NOI, Loan amount, Your lender's debt yield test (%).
You get: Debt yield, Versus the test, Max loan at this test, Room under the test. - Hotel cap rate calculator: cap rate, value and price per key
Turn hotel NOI and a price into a cap rate and price per key, or turn NOI and a cap rate into value. Formula and worked example shown.
You enter: Annual NOI, Price or offer, Keys (guest rooms), Cap rate to solve for value (%).
You get: Cap rate at that price, Price per key, Value at your cap rate, Value per key.
Which one do I start with?
If the question is what the hotel is worth, start with the value estimator. It gives a screening range from the cap rate bands in the Q1 2026 Matthews Hotel Index, less your PIP. It is not a valuation. A broker opinion of value is.
If the question is how much you can borrow, start with the loan sizing calculator. It runs your lender's DSCR, debt yield and LTV tests together, names the one that binds, and shows the equity that leaves. It has an SBA 504 mode.
If a loan is maturing and you are deciding what to do with the hotel, start with refinance vs sell. It runs the loan your NOI supports and the cash a sale would leave, side by side, from one set of inputs.
To look at one sizing test at a time, with its own sensitivity table, use the DSCR and debt yield calculators. A lender applies both, plus a loan-to-value test, and lends the smallest result. DSCR moves with the interest rate. Debt yield does not.
If you have an offer, or want to know what a given yield implies for price, use the cap rate calculator. It also converts price into price per key so you can compare hotels of different sizes.
Every starting hotel, lender test and typed cap rate in these tools is hypothetical. None of them is a quote, a lender requirement or a market cap rate. The only cap rates we publish are the index bands the value estimator uses, shown with their quarter.
The guides behind the math
Matthews Hotel Markets places hotel debt and sells hotels. Send us your trailing twelve-month statement and we will run these numbers on your hotel.