Today’s travelers expect more from the hospitality industry. Luckily, mezzanine hotel loans offer an easy way for you to keep up with guest demands and desires. For example, hotel loans are an easy way to make improvements like smart phone check-in and guest room access. These updates provide many benefits that can help your bottom line.
Mezzanine Hotel Loans Allow You to Make Upgrades
As a direct hotel lending company, we understand the hospitality industry. Mezzanine hotel loans are the perfect solution for upgrades and renovations you need to stay competitive. Cash-flow issues shouldn’t stop your progress. In fact, these issues could aggravate available funds by sending travelers to your competitors. For example, mezzanine debt can be your solution for modernizing your check-in and guest room access process. Surveys indicate that 60% of travelers will book with a hotel that allows them to use their smart phones for room access and check-in over one that doesn’t. Therefore, you can’t afford to miss out due to the upfront costs associated with these improvements. Use hotel loans to upgrade your property for better guest experiences and reduced operating costs.
Smart Guest Check-In and Room Access Improves Guest Experience and Reduce Operating Costs
Smart phone room keys can increase customer satisfaction rates by 7%. Therefore, you can use mezzanine financing to boost customer satisfaction and provide a better experience for your guests. Instead of long wait-times and overwhelming your front desk staff, mobile check-in streamlines the process. Surveys found that 68% of travelers find it dissatisfactory to wait in line for the front desk for more than five minutes. Therefore, you can improve guest experiences using smart technology for your hotel.
Additionally, an investment in mobile check-in using mezzanine hotel loans can save you on operating costs. Hotels save an average of $1000 a month on plastic RFID cards alone when they switch to smart phone room keys. Smart check-in also allows your management team to better foresee their staffing needs, which can also have positive effects on your bottom line. If you’re ready to make improvements to your hotel, you’ll need to work with an experienced hotel lending company to find the best financing solutions for you.
At Stonehill Strategic Capital, we provide practical options for your hotel funding needs. Our team can arrange creative opportunities for acquisitions, renovations, recapitalizations, and hotel construction financing. As the market leader for hospitality lending, we understand your unique challenges and work with you to find financing that works best for you. Contact us today to see how we can help your hospitality property achieve more. We are here to serve you.