While a lot of people have delayed travel during the pandemic, many are now actively looking for top travel experiences. Hotels have a lot of competition, so you need to make sure you have a competitive edge for the uptick in travel. One important thing you can do is improve your in room amenities, so they’re perfectly curated for your target traveler. Of course, with all time lows in the hospitality industry the past few years, you may need extra capital to make these key improvements. Hotel loans can help you bridge the gap and set your property up for success.
Hotel Loans Help You Step Up Your In Room Amenities
Today’s travelers are looking for more than just a place to rest their heads at night. With vacation rentals remaining ever popular, it’s essential to offer unique experiences to your guests. Investing in amenities your guests are craving can make a huge difference for your bookings and revenue.
However, making improvements requires capital, and many hotels have faced a few hard years since COVID. Therefore, you may want to talk to your hotel lending team about your options. There are many solutions for hotel loans, including bridge loans and preferred equity loans that can help you make important improvements to attract more guests and take advantage of the renewed interest in traveling.
Amenities to Consider for Your Hotel
Of course, even with the best hotel loans, it’s essential to invest in the right hotel amenities. You need to consider your target customer carefully and provide amenities that appeal to them.
There are some amenities that practically every traveler today can benefit from. Having ample outlets is one great example, as almost every traveler will have electronics they need to charge. In these cases, you may need hotel loans to cover the cost of electrical upgrades for each room to add outlets and increase power capacity for your property. Access to free, fast wifi is another amenity that almost every hotel can benefit from. On a more local note, having special offers from local businesses is a great way to help travelers of all kinds.
Other amenities may need to be specially chosen based on the average guest for your property. For instance, business travelers may prefer things like in-room desks, coffee stations, and workout equipment.
For more family-oriented hotels, one fun amenity is in-room board games that the whole family can enjoy. Families may also enjoy amenities like stroller rentals, pack-and-play rentals, and other amenities geared toward children.
For luxury hotels, amenities that draw guests’ attention include personalized welcome gifts packed with indulgences, preferably from unique local vendors. In room cocktail stations are another great way to welcome guests and give them an experience to write home about.
Direct Hotel Lending from Stonehill
When you need hotel loans, our team at Stonehill is here for you. We specialize in hospitality lending solutions for properties across the nation. Since our founding in 2014, we have provided over $2.1 billion in hotel loans and investments. Whether you need hotel construction financing or bridge lending for your property, our originators are here to find options that fit your needs. Contact us now to discuss your financing needs with our team.