A compressible, two-phase, one-fluid solver has been developed to investigate the behaviour of cavitation models including thermodynamic effects. The code is composed by three conservation laws for mixture variables (mass, momentum and total energy) and a supplementary transport equation for the void ratio. Two formulations for the mass transfer between phases are studied. Numerical simulations are firstly performed on rarefaction cavitating problems in which the working fluid is hot water and freon R-114. A realistic turbulent Venturi case with freon R-114 is performed and comparisons are done between 3- and 4-equation models. A warming effect is highlighted downstream the cavitation pocket in the region of pressure recuperation. (C) 2014 Elsevier Ltd. All rights reserved.