Hotel finance calculators: loan sizing, value, and refinance vs sell
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Matthews Hotel Markets publishes 4 hotel calculators. Each one shows its formula and a worked example in the page itself, and each asks for your own lender's test or your own cap rate instead of asserting one, because lenders do not publish their sizing tests. The one benchmark they show comes from our September 2026 rate sheet: the 10-year Treasury at 4.94% on September 17, 2026. See the rate sheet.
The calculators
- 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 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.
If you are sizing a loan, run DSCR and debt yield together. 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 value in these tools is hypothetical. None of them is a quote, a lender requirement or a market cap rate.
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.