Starting point: the property and the people

• Which property are we evaluating and how is it currently operated, including ownership type, brand status, and room count?
• Describe the last 12 months of performance by channel, including average daily rate, occupancy, and your top three booking sources.
• How many rooms have been renovated in the last five years and what condition are the remaining rooms in? Options: Mostly updated, Some recent updates, Significant deferred maintenance, Unknown / needs inspection
• Who on your asset, operations, and finance teams will lead approvals and ongoing communication if you proceed?
• When was the most recent market or feasibility study completed for this property and where can we review it? Options: Within 6 months, 6-12 months, 12-36 months, More than 3 years, No study available
• Is ownership planning to sell or refinance within the next 24 months, and would that affect the ability to commit to a long-term franchise agreement? Options: Yes, sale likely, Yes, refinance likely, No, Unsure / evaluating

Why now: the pressures pushing this conversation

• If you keep operating as you are today, what revenue or valuation gap worries you most over the next 12 months?
• How urgent is your decision timeline for flagging or reflagging this property? Options: Immediately, Within 3 months, 3-6 months, 6-12 months, 12+ months
• Walk me through a specific booking trend, guest complaint, or vendor issue from the last quarter that signaled change is needed.
• Which guest segments are slipping the most and where do those guests tend to book instead of your property? Options: Corporate transient, Group/meeting, Leisure weekend, Loyalty members, OTA-driven price shoppers, Other
• What single operational constraint, such as staffing, capital, or approvals, would force you to pause or cancel a reflag plan?

How the brand must move the needle

• What outcome from flagging would make you feel this decision was clearly the right one within 18 months?
• Identify the revenue levers you expect the brand to move, for example ADR, occupancy, distribution mix, or operational cost reductions. Options: Average daily rate (ADR), Occupancy, Distribution mix (direct vs OTA), Loyalty penetration, Operational cost savings, Other
• Give a recent example of a property that achieved a similar uplift, and explain why that case feels comparable to this one.
• What percentage lift in ADR do you consider realistic for this location over a 12-18 month period? Options: 0-2%, 3-5%, 6-10%, 11-20%, 20%+
• If after 12 months the guest mix has not shifted toward higher-value segments, would you continue under the same commercial terms or trigger a formal review? Options: Continue as is, Trigger review, Unsure

Scope and cost realities, candidly

• Point to the scope items in a typical property improvement plan you expect will be hardest to accept for ownership or lenders. Options: Guestroom FF&E, Public area redesign, Mechanical or MEP, Exterior/facade, Accessibility upgrades, Other
• Describe any deferred maintenance, life-safety work, or code items that must be remediated before conversion can proceed.
• Select the cost drivers that apply to this project today. Options: FF&E and soft goods, HVAC and mechanical, Structural or seismic, Plumbing and electrical, Accessibility/ADA, Permit and consultant fees, Other
• Who will be responsible for funding scope overruns and do you have a contingency allowance expressed as a percent of estimated construction cost? Options: Owner bears overruns, Lender contingency, Shared with brand, No contingency agreed yet
• Is there a hard ceiling on total allowable project cost that would stop the conversion if exceeded? State the ceiling in USD or enter 'none'.

Market and competitive pressures

• How will new branded openings or pipeline in your submarket change achievable occupancy or rate over the next 24 months?
• List the three closest competitive properties and summarize what each one does better or worse than your property on price and amenities.
• If a comparable brand announced a major renovation nearby, what immediate impact would you expect on your pricing assumptions or timeline? Options: Immediate rate pressure, Delay signing, Accelerate improvements, Little to no impact, Unsure
• Choose the supply scenario that concerns you most for this submarket over the next 24 months. Options: No new supply, Moderate new supply (1-2 comps), Significant new supply (3+ comps), Uncertain pipeline
• What market condition or pipeline milestone would make you walk away from flagging entirely?

The other options you're weighing

• Who or what else are you seriously considering instead of partnering with a brand, including the incumbent operator or staying independent? Options: Remain independent, Replace with another brand family, Renovate and self-manage, Sell the asset, Other
• Has anyone proposed solving the performance gaps internally rather than engaging an outside brand partner? Options: Yes, internal solution proposed, No internal proposal, Undecided
• If you stayed with the current approach, what specific performance improvement would need to be true to justify not changing?
• Select which alternative options are still on the table today. Options: Incumbent franchise renewal, Conversion to different brand family, Remain independent with renovations, Asset sale, Third-party management agreement
• What internal metric or deadline, if achieved by the incumbent approach, would cause you to cancel the brand evaluation now?

Can you meet the non-negotiables? readiness and constraints

• Identify the integration, permit, or approval you expect will be the single biggest gating risk for the timeline.
• Does your property have a property management system and reservation stack that support third-party connectivity and data exports today? Options: Yes, modern PMS with APIs, Partial support, requires work, Legacy systems, no APIs, Unsure
• Name the person or team that owns reservations, loyalty, and distribution integrations, and briefly note their experience with brand integrations.
• Confirm whether clean, exportable guest and historical booking data is available now and who can provide access. Options: Yes, ready and accessible, Data needs cleansing, Data access limited by third party, No historical data available
• Has full financing been committed in writing, and if not, by what date do you expect written commitments to be in place? Options: Committed in writing, Term sheet only, Commitment expected within 30 days, Commitment expected within 60-90 days, No financing path yet

If the numbers check out, what's needed to move forward

• If a pro forma demonstrates your target uplift, which internal approval would allow you to sign the commercial terms within seven days?
• Name the legal, commercial, and board approvals required to finalize a franchise agreement and estimate each approval duration.
• Choose the non-negotiable commercial terms you require in any agreement. Options: Maximum royalty rate, Cap on marketing fund contributions, Termination options, FF&E reserve terms, Approval rights for guests segments, Other
• What timeline do you need for brand approval to meet your target go-live date? Options: Under 30 days, 30-60 days, 60-90 days, 90+ days, No fixed timeline
• Identify the single final internal hurdle that would block signing even if the financials, scope, and technical readiness are acceptable.

Next steps and handoff: who, when, and how

• If the seller delivered a fully costed scope and revenue model tomorrow, would you be ready to enter commercial negotiations within 30 days? Options: Yes, No, need more time, Depends on financing, Unsure
• List who from your side should be invited to a decision kickoff meeting and the role each person will play. Options: Asset manager, General manager, Head of development, CFO/finance lead, Legal counsel, Other
• When is a realistic target date for submitting brand approval materials from your side? Options: Within 2 weeks, 2-4 weeks, 1-2 months, 2-3 months, Longer than 3 months
• What type of support, documentation, or team access would make your internal sign-off faster and who should we coordinate with first?

• Brand Experience & Revenue Case Session

• Confirm the current state and its cost
• You confirm the model inputs reflect your market view and investment criteria.
• Provide the property's most recent 12 months of bookings, ADR, occupancy, and channel mix data to feed into the model.
• Seller to run the property-level revenue model using the agreed assumptions and deliver a detailed revenue case with two sensitivity scenarios within five business days.
• Align model inputs and assumptions
• You accept the projected rate premium, occupancy lift, and guest mix as the working revenue case for underwriting.
• Run the property-level revenue scenario
• You agree on the remaining evidence required and the next delivery dates needed to proceed toward a mutual commercial decision.
• Jointly schedule a decision review with the buying committee to present the finalized revenue case and gating evidence.
• Assess PIP and fee impact on returns
• Validate the future state
• Agree on remaining evidence and next gating items

• Brand Experience & Revenue Case Session
• Brand Experience & Revenue Case Deck
• Solution Brief — Brand Experience & Revenue Case

• meeting
• slides
• document

• Execute franchise licensing agreement
• Onboard property to central reservation system
• Enroll property in loyalty program and member rates
• Integrate property PMS with reservation and billing systems
• Connect property to OTA and GDS distribution channels
• Provision revenue management tools and RMS connectivity
• Deploy direct-booking engine and rate parity controls
• Coordinate procurement with preferred vendors (FF&E and supplies)
• Manage brand-standard conversion and construction works
• Deliver onsite staff training and SOP implementation
• Perform brand-compliance quality assurance inspections
• Launch brand marketing campaigns and reservation promotions
• Configure royalty and marketing fund billing and reporting
• Provide ongoing revenue management advisory services

Execute franchise licensing agreement

• Do you have a signed letter of intent or term sheet that documents the proposed franchise fee, royalty rate, and minimum term referenced in the franchise agreement? Options: Yes, No
• Which franchise agreement term length are you prepared to commit to (select the closest option)? Options: 15 years, 20 years, Need negotiation / custom term
• Who is the authorized corporate signer and what corporate documents (articles of incorporation, proof of authority) can you provide for the licensing agreement?
• Provide any requested exceptions or amendment requests to standard franchise clauses (transfer, termination, area protection) and reference clause numbers if available.
• Are there lender conditions, mortgage covenants, or performance covenants (for example lender consent, debt service coverage ratio triggers) that must be incorporated into the licensing agreement? Options: Yes, No, Unknown / need to confirm with lender

Onboard property to central reservation system

• Specify which connectivity methods you require for the central reservation system (CRS): API endpoint, SFTP feed, channel manager, or manual file upload? Options: API endpoint, SFTP nightly feed, Channel manager integration, Manual file upload
• Describe the rate-plan and room-type mapping required between your property inventory and the CRS schema; include example PMS rate codes and CRS rate codes if available.
• When can you provide test credentials and a sandbox account for CRS connectivity and end-to-end testing? Options: Within 1 week, 1-2 weeks, More than 2 weeks
• Confirm your preferred nightly sync windows for inventory and rate updates to avoid OTA push conflicts (use local hotel timezone). Options: 00:00-02:00, 02:00-04:00, Other (describe)
• Identify the technical contact or vendor who will run CRS connectivity tests and list their support SLA for ticket resolution.

Enroll property in loyalty program and member rates

• List the loyalty member benefits you want enabled at check-in and how those benefits should map to PMS actions (for example upgrade, late check-out, waived fees).
• Will you enable member-only rate plans and promotional codes at go-live or do you prefer a phased rollout? Options: Enable at go-live, Phased rollout within 90 days, Launch later (specify)
• How should loyalty points posting be handled: automatic nightly post from PMS folios, manual batch import, or via the CRS? Options: Automatic nightly from PMS, Manual batch import, Via CRS or third system
• Have you captured guest consent and marketing opt-in flags in your PMS for loyalty enrollment and email communications? Options: Yes, No, Partial - mapping required
• Is there an existing membership ID scheme to import (legacy loyalty IDs) and approximately how many active members should be migrated? Options: No migration, Less than 1,000, 1,000-10,000, More than 10,000

Integrate property PMS with reservation and billing systems

• Assign the owner who will approve PMS field mapping for reservations, folio posting, guest profiles and tax code mappings.
• Estimate the number of custom folio codes, tax categories and non-room revenue types that will require mapping to the brand chart of accounts. Options: Less than 20, 20-50, More than 50
• Outline required test cases for PMS-to-CRS and PMS-to-billing integration (arrival, departure, no-shows, group blocks, refunds, split folios).
• Name the PMS export formats available at the property (native API, XML, nightly CSV export) and attach sample file headers if available.
• Select your preferred cutover approach for PMS billing and reservations (parallel run, big-bang cutover, phased by revenue type). Options: Parallel run (recommended), Big-bang cutover, Phased by revenue type
• Define the concrete acceptance criteria for successful PMS integration for billing and reservations: required test cases, minimum percentage of folio items posting correctly, allowed sync latency, and the sign-off owner. Options: Standard acceptance thresholds apply, Custom thresholds (describe)

Connect property to OTA and GDS distribution channels

• State which distribution approach you will use for OTAs and GDS (channel manager, direct OTA connections, or manual uploads). Options: Channel manager, Direct OTA connections, Manual uploads
• Attach or list any existing OTA connectivity credentials, GDS chain codes, or distribution agreements available for immediate use.
• Indicate required content standards for OTA listings (number of images, image resolution, mandatory room descriptions, translations) and which assets remain to be produced. Options: All assets ready, Images need sourcing, Descriptions need translation, Other (describe)
• Detail the rate parity controls you want enforced and how often you want parity monitoring and exception reports delivered.
• Explain any special channel rules (corporate rate codes, negotiated group allotments, access codes) that require custom channel mappings.

Provision revenue management tools and RMS connectivity

• Plan which revenue management features you require at launch (demand forecasting, dynamic pricing engine, competitor rate indexing, basic rate loading). Options: Demand forecasting, Dynamic pricing engine, Competitor rate indexing, Basic rate loading
• Clarify the nightly and historic data feeds the RMS requires from the PMS (historical occupancy, ADR, cancellations) and the desired feed cadence.
• Define success metrics for RMS connectivity (minimum data completeness percentage, acceptable update latency in minutes, reconciliation checks) that must be met before go-live.
• Approximate how many competitive-set sources and OTA rate feeds the RMS must ingest for market indexing. Options: 1-3 sources, 4-7 sources, 8+ sources
• Authorize who will provide API access and data-sharing consent for historical PMS records required by the RMS implementation.

Deploy direct-booking engine and rate parity controls

• Verify whether you require a hosted direct-booking engine or an embeddable booking widget and confirm supported booking flows (packages, corporate, groups). Options: Hosted booking engine, Embeddable booking widget, Both
• Approve the standard rate-parity enforcement policy or indicate required modifications specific to your market and distribution agreements. Options: Standard policy works, Require modifications, Need to discuss exceptions
• Schedule preferred windows for rate pushes and cache invalidation for the direct-booking engine to minimize guest-facing inconsistencies. Options: Daily 02:00 local, Twice daily, Custom (describe)
• Do you require integration between the direct-booking engine and a local payment gateway for deposits and incidental charges, or will the PMS handle payments? Options: Booking engine handles payments, PMS handles payments, Hybrid model
• Which room types and promotional rate plans should be exposed via direct booking versus OTA channels (list room type codes or promo IDs).

Coordinate procurement with preferred vendors (FF&E and supplies)

• Who will manage the FF&E procurement schedule and approve vendor submittals, shop drawings, and samples?
• Provide the FF&E budget line items from the Property Improvement Plan (PIP) and flag owner-funded items versus brand allowance items.
• Are there local import restrictions, lead times, or customs duties that will affect FF&E delivery windows and staging? Options: Yes, No, Unknown - need to check
• Specify punchlist acceptance thresholds for installed FF&E (cosmetic tolerances, functionality tests) and the warranty durations you require.
• Describe the onsite receiving, staging and storage plan for inbound FF&E deliveries and indicate any limitations on offloading windows.

Manage brand-standard conversion and construction works

• When do you plan to start construction and what is the target milestone for certificate of occupancy or building permit completion? Options: Within 30 days, 30-90 days, More than 90 days
• Confirm which PIP line items are mandatory versus recommended for conversion and attach any existing PIP cost schedules. Options: All mandatory, Mix mandatory & recommended (attach schedule), No PIP yet
• Identify the general contractor and project manager and provide their experience with brand-standard hotel conversions including sample punchlists or past project photos.
• Define measurable acceptance criteria for conversion completion: percentage of PIP items complete, punchlist closure rate, brand-inspection checklist pass rate, and required certificates (CO, fire safety). Options: Use standard brand thresholds, Custom thresholds - describe
• Estimate contingency allowances and the change-order approval process to handle unforeseen scope during conversion. Options: 5% contingency, 10% contingency, Custom

Deliver onsite staff training and SOP implementation

• Outline the training curriculum you require for front desk, housekeeping, engineering and revenue teams, referencing any brand SOP modules.
• Name the key staff roles to be trained and provide the headcount per role for scheduling training sessions.
• Select preferred training delivery methods (onsite instructor-led, virtual instructor-led, recorded modules) and indicate any required language support. Options: Onsite instructor-led, Virtual instructor-led, Recorded modules
• State the competency assessment pass/fail criteria for SOP training and who will certify completion for each role.
• Attach any existing SOP manuals, local operating procedures, or training materials that must be reconciled with brand standards.

Perform brand-compliance quality assurance inspections

• Indicate the desired frequency of brand compliance inspections in the first year (pre-opening, 30/60/90 day, quarterly, annual). Options: Pre-opening and 30/60/90 day, Quarterly, Annual
• Detail the inspection checklist categories you require (guest rooms, public areas, safety systems, FF&E, technology) and the acceptable pass thresholds for each.
• Verify the minimum brand-compliance pass threshold and the evidence required for sign-off (inspection report PDF, corrective action log, dated photos) and name the sign-off owner.
• Plan the corrective action turnaround time and who will own remediation for any failed inspection items. Options: 7 days, 30 days, Custom (describe)
• Clarify whether third-party inspection reports are acceptable and which file formats and metadata (room ID, photo timestamp) must be included. Options: PDF report with photos, Form-based checklist with photos, Other (describe)

Launch brand marketing campaigns and reservation promotions

• Specify the target guest segments and promotional rate codes for the opening campaign (corporate negotiated, leisure packages, group offers).
• Detail the marketing assets required for launch (website landing page, package descriptions, imagery, promo codes) and which you will supply versus request from the brand. Options: All supplied by you, Partial - brand assists, Brand supplies all assets
• Explain the reservation promotions timeline and blackout rules that should be applied in the CRS and channel manager.
• Plan the marketing campaign measurement: which KPIs should be reported (bookings via direct channel, ADR lift, conversion rate) and reporting cadence? Options: Daily during launch, Weekly, Monthly

• Franchise Agreement
• Development & Conversion Agreement
• Master Services Agreement (MSA)
• Statement of Work (SOW) — Project Services
• Franchise Disclosure Document Receipt & Acknowledgement
• Fee Schedule & Payment Addendum
• Conditional Approval & Milestone Schedule
• Good-Faith Deposit & Escrow Instructions
• Guaranty & Assignment Agreement
• Intellectual Property License Addendum
• Data Processing & Regulatory Addendum (conditional)

• Go-live Health Check (weeks 1-4)
• First Measurement Review (weeks 4-10)
• Acceptance Gate Review (around day 90)
• Quarterly Success Review (ongoing)

• Prepare the performance pack for the next quarterly review including RevPAR, ADR premium, occupancy, and loyalty share trends.
• Log unresolved property or ops issues into the tracker with remediation deadlines ahead of the acceptance gate.
• Restate acceptance criteria and numeric targets
• Produce a documented pass or fail decision against each numeric acceptance criterion listed in Brand Experience & Revenue Case and Development & Conversion Scope.
• Capture a remediation plan and deadlines for any failed criteria so closure evidence is defined and scheduled.
• Confirm the incumbent system has been decommissioned or formally retained read-only with data archived or migrated.
• Publish the acceptance decision record and remediation plan with deadlines and required evidence items.
• Complete any outstanding Development & Conversion Scope PIP items and submit inspection evidence per the remediation plan.
• Execute incumbent decommissioning or formalize read-only retention and complete data archive or migration tasks.
• Performance trend review
• Confirm whether RevPAR and occupancy remain at or above the agreed targets and identify any metric trends needing action.
• Ensure open remediation items are progressing toward closure with no unresolved critical blockers.
• Maintain a prioritized backlog of enhancement requests with clear delivery windows for the next quarter.
• Update the shared issues and enhancements register with owners and firm delivery dates.
• Schedule approved vendor work or operations fixes and confirm implementation windows.
• Reconfirm success criteria and ownership
• Confirm critical integrations for reservations and loyalty are live and passing basic connectivity checks.
• Produce a prioritized list of top 3 open issues with remediation dates for each.
• Verify staff training and inspection schedules are on track to support operations.
• Publish a go-live health summary and open-issue tracker with target resolution dates.
• Complete any outstanding reservation and loyalty connectivity remediations documented in the tracker.
• Confirm the first brand inspection and staff on-boarding completion dates and circulate the calendar invite.
• Present performance against ADR premium, occupancy, and loyalty share
• Determine whether ADR premium and occupancy are moving toward targets and document the size of any gaps.
• Agree a prioritized remediation plan with concrete dates to return metrics toward target ahead of the acceptance gate.
• Confirm the exact evidence set and data sources to be presented at the acceptance gate.
• Produce a reconciled performance dashboard showing ADR premium, occupancy, and loyalty share with clear data source notes.
• Implement agreed rate and distribution adjustments and record results for the acceptance gate packet.
• Present outcome data and inspection evidence
• Guest mix and channel contribution
• Deployment and integration validation
• Root-cause diagnosis for gaps
• Document formal acceptance decision
• Early adoption and operations signals
• Open issues and remediation burn-down
• Agree corrective actions and timelines
• Blockers and open-issue triage
• Confirm evidence and timeline to acceptance gate
• Enhancement request prioritization
• Agree remediation plan for any failed criteria
• Agree immediate remediation actions and timelines
• Incumbent system wind-down confirmation
• PIP warranty and inspection status