I built this multi-scenario, value-add hotel investment model from scratch in Excel for an assignment in one of my real estate finance courses at Cornell. Keep in mind, this model is not plug-and-chug ready. However, with a few tweaks it works great for both back-of-the-envelope, and more detailed financial analysis.
If you find errors, please let me know. Feel free to use, change, edit, etc.
For instructions on using the model: