According the procedures of the discounted Cash flow analysis (DCF), the return of the object is determined.

On one hand the estimated return for the investor for the next eleven years is required.

On the other hand the interest rate for the disbursement is established, under consideration of the capital structure of the financing as well as the cost of internal and external equity.

The factor for the arithmetical disposal of the hotel in its 10th year of operation is calculated.

The projected streams of payment, including the arithmetical disposal of the hotel in its 10th year of operation, are discounted and added and account to the value of the hotel property.