Explore alternative capital stacks for a ~€400m acquisition of a modern Marriott-branded UK hotel portfolio. Toggle assumptions, compare DSCR and leverage, and estimate Patrimonio's investment-banking fee.
Choose a structure below, then adjust leverage and pricing in the scenario builder. This lets you see how 75% unitranche compares to 80% structured senior + mezzanine in real time.
Adjust the purchase price, leverage, and pricing to see the resulting debt, equity, and debt service coverage ratio (DSCR).
Selected Structure
Option 1 – 75% Unitranche (Credit Fund)
DSCR (EBITDAR / Interest)
2.22x
Debt Amount
€300.0m
At 75.0% LTV
Equity Required
€100.0m
Purchase price minus debt
Annual Interest
€18.0m
At 6.0% all-in cost of debt
You can use this card live with lenders: move LTV and rate until DSCR is in their comfort zone (often 1.70–2.00x+ for hotels at this scale).
Model Patrimonio's investment-banking economics: retainer + success fee on debt + optional equity placement fee.
On €300.0m of debt, Patrimonio earns €4.5m.
Equity fee: €2.5m.
Estimated Total Patrimonio Fee
€7.1m
€4.5m on the debt stack + €2.5m for equity placement + €0.1m retainer.
Engagement language example: "Patrimonio Merchant Bankers will act as exclusive financial advisor and mandated lead arranger. Our success fee is 1.50% of total debt committed, payable at closing, plus applicable equity placement fees. A €0.1m retainer is required to initiate lender engagement, creditable against the success fee."