Per-key value

Definition

The property's price divided by its room count, the trade's per-unit lens.

Why It Matters

Per-key is how motel and hotel people sanity-check any asking price in one division, and the honest use is comparative: what did the corridor's last three sales run per key, and what does this property's condition justify against them? A low per-key number is not automatically a bargain, it is often a capex bill wearing a discount, so pair the figure with the roof, systems, and room-condition walk before letting it argue for the deal.