Built by the customer

Why it exists

Roughly forty hotels get underwritten for every one that closes. Most of that work is typing numbers out of a PDF and then checking whether they were typed correctly, which all happens before anyone reaches the question of whether the deal is any good. It is a data-entry problem wearing an analysis costume.

The software that could fix it skipped hotels. General real-estate tools model a rent roll; a hotel re-prices every room every night, carries a departmental P&L, a brand with filed fees, and a staffing plan that moves NOI more than the cap rate does. So every acquisition team rebuilds the same spreadsheet, and every spreadsheet is slightly different from the last one.

Who is building it

Phil Bernardo, founder. The path through the business, in order:

• Operations

  Marriott · third-party management
• Revenue management

  Universal Orlando · Disney Parks
• Institutional capital

  Xenia Hotels & Resorts
• Analytics leadership

  Hillpointe · Hyatt
• Founder

  PivotPt Capital Corp

Where we underwrote before · not an endorsement

How it is built

Two rules run through the whole product, and both of them are the reason to trust a number on the screen.

The engine is deterministic, and the AI never does the maths

Claude reads documents, proposes a staffing roster and drafts narrative. It never computes RevPAR, allocates an expense, sizes a loan or calculates a return. Those are arithmetic, and arithmetic should reproduce to the cent under the engine version that recorded it — which it does, because assumptions are versioned and every run hashes its inputs.

Nothing extracted is trusted until a person approves it

An OM is a seller's document. What comes out of it is shown to you beside its source page, its confidence and its data-rights class, and it reaches the model only after you have looked at it. That gate is not a preference setting.

Where it stands

Release 1 is live: select-service hotel acquisitions, end to end, from the offering memorandum to a lender package. Scope says exactly what is in and what is not. It is being used on live deals now, which is the only reason the details are right.

Investors and partners: the investor page and the deck carry the longer argument.