Airbnb Operator wanting to buy Hotel

[Syed Lateef]

I run an Airbnb short term rental business in Chicago and getting close to 100 units under management. I master lease properties

I have a substantial operation supporting my current volume. 

Guests Services, Operations, Marketing, Pricing, Finance, Cleaning team, Handymen etc.

I am interested in the idea of purchasing a boutique hotel and run it within my current systems.

I have no experience in finding a hotel, market value of them, or anything.

My questions stems from do you think it would be an easy transition to operate the business side of the hotel with the infrastructure i already have in place? 

What would be the best way to find out hotels for sale in Chicago? Theres literally just 1 on loopnet. 

Are hotels valued by the NOI of the business divided by the cap rate? That would over value you the real-estate if thats the case. But i guess i am buying the real estate and the book of business as well
How do banks finance Hotel purchases

What are other things i should consider when looking to get into this type of business/real estate purchase. 

[Storm S.]

@Syed Lateef find a commercial broker with access to costar he can pull a list of all off market hotels in your area. I would help you out but I only have access for California. There may be only a handful of major hotel brokers in your state. A good trusty way to value any properties is a discounted cash flow analysis. If the hotel is stabilized and is not a value add deal you could use cap rates but that just should be used more as a check/ back if the envelope technique.