The product
Condition Record
One page a month, in dollars, that shows its arithmetic. This is what an owner reads and what a lender may eventually read, so every figure is auditable and nothing is estimated.
The two cards are the same feature
Trenton has not given us an ADR, so its record shows room-nights and says the dollar figure is withheld. It does not estimate, infer a market rate, or quietly substitute a comparable property. On a document that may end up in a refinance file, one invented number is worse than a missing one.
Mandeep: this is the case worth pressure-testing. If pilot properties will not share ADR, the flagship number disappears and the product has to sell on room-nights alone.