STEELMAN
For listing brokers

The trailing numbers are soft.
Stop letting them set the price.

Every buyer opens with last year's figures and a reason they justify a discount. The answer is not to argue about the future — it is to restate the year that has already closed, using the seller's own filed statements, and show what the asset produced once the fixable things were fixed.

What you are up against

The discount becomes the starting point

A weak trailing year is the first thing a buyer reads and the last thing they forget. Left unanswered, it anchors every number that follows.

A pro forma is a promise

Forward projections get discounted on sight, because everyone knows who wrote them and why.

Nobody can check your spreadsheet

A model the other side cannot follow is a model they will not trust — and one they will take apart in the room.

A look inside

Twelve months, restated

The same twelve months the statements already report, with one rate decision changed and the occupancy it costs charged straight back against it. From The Harlow Hotel & Conference Centre.

Net operating income left on the table
$420,731
on months that have already closed
Average rate
$168 → $178
occupancy falls 2.6pts and it still holds
What that does to the asset
$7.93M → $12.88M
capitalized at 8.50%
The month-by-month restatement, as filed against as available
The budget exhibit showing the discount was planned in advance
A valuation calculator on your cap rate and your price
The ninety-day action list, costed, needing no capital
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Other situations

Five more we build for.

Send us a live file and we will tell you within a day.

If there is an edge worth communicating in your numbers, we will say what it is and how we would make it. If there is not, we will say that instead and charge you nothing.

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