Heritage & Luxury Property Business — Business Valuation Multiple
EBITDA Valuation Guide · Small & Mid-Sized Businesses
Actual EBITDA multiples can vary materially based on EBITDA size, growth, recurring revenue, margins, customer concentration, owner dependence, geography and other company-specific factors.
Min
3×
Typical
5×
Max
6.5×
Revenue Model
Transactional
Capital Intensity
High
A typical multiple of 5× EBITDA reflects mid-market transactions in the $1–$50M revenue range.
Overview
Heritage and luxury property businesses — including country house hotels, boutique hospitality, and estate management — typically trade at 3×–6.5× EBITDA. Unique destination asset value, high ADR and RevPAR performance, and diversified events, wedding, and estate income support the upper end. Freehold estate asset value adds significant value beyond EBITDA multiples. Maintenance and restoration capex are the primary acquisition considerations.
Key Value Drivers
- Unique destination asset value
- High ADR and RevPAR performance
- Events, wedding and shooting income diversification
- Freehold estate asset value
- Brand and PR profile attracting premium guests
Key Risks
- Maintenance and restoration capital requirement
- Seasonal demand concentration
- Listed building and heritage compliance
- Skilled hospitality staff recruitment in rural locations
- Economic cycle sensitivity
Related Industries
Disclaimer: All multiples are indicative estimates only and are not formal valuations or investment advice. They should not be relied upon for financial decision-making without independent professional advice.