The hospitality industry is undergoing a major shift, with many hotels struggling to stay competitive. Many properties are now investing in offerings and upgrades that can help set them apart from the competition. One competitive advantage is a food and beverage (F&B) program. If you don’t already offer F&B, now may be the time to do so. Hotel financing can help you with many of the costs of starting a food and beverage program for your hotel.
Using Hotel Financing to Add F&B to Your Offerings
F&B is a major advantage for hotels today. Many hotels that already offer food and beverage are looking for ways to upgrade their current offerings. If you don’t have an F&B program, other properties may be leaving you in the dust. Hotel F&B is another source of revenue for your property. It can bring in more money not only from guests, but, when done right, can also draw in locals and others who aren’t staying at your hotel. This unlocks many opportunities for growth and profits.
Of course, creating an F&B program from scratch requires capital. This is where hotel financing comes in to help. After all, you likely need to construct or renovate a hotel kitchen, hire a staff, and order dishes and food to get your program up and running. Rather than sacrificing positive cash flow for these investments, most hotels choose financing to help get them started in the F&B space.
How Hotel Loans Help You Stay Competitive
Hotel loans can provide you with the capital needed to get your F&B program off the ground and make your property money. Many properties are currently experiencing hardships due to continued travel concerns and the impact of popular vacation rental websites. Therefore, you may not have the cash on hand to pay for improvements outright. Yet, not investing in improvements may lead to closure for your hotel.
Instead, hotel financing can provide you with the money needed to invest in key upgrades that keep you competitive and draw in more business. There are many loan options that may work well for your needed improvements. Some include bridge loans, mezzanine financing, preferred equity, and property assessed clean energy (PACE). These help you get low-cost financing needed for renovations and upgrades, such as to create an F&B program for your property.
The key is to find flexible, creative hotel financing solutions that truly suit your needs and business.
Hotel Lending from Stonehill
When you need hospitality loans, choose Stonehill as your trusted lender. We are a direct hotel lender offering solutions for all types and sizes of hotels. We have completed hundreds of transactions totaling billions of dollars in our years in the industry. Whether you need hotel bridge lending or permanent hotel loans, we have solutions that suit your needs. Contact us now to learn more about our hotel financing solutions.