With the rise of accommodation-sharing sites, more and more hotels are looking for unique ways to increase revenue. Using hotel financing, you can build an integrated restaurant to help your bottom line, even during low seasons. Designing a place that both travelers and your local community will love to dine in can help you stay competitive in the hospitality market.
Create a Restaurant Your Local Community Will Love
Most of the hospitality industry focuses on appealing to travelers. However, a well-designed hotel restaurant can attract customers in your local area as well. The key is to establish an eatery that fits into the local restaurant scene. Many hotel restaurants focus on how to serve those already staying in their rooms. However, taking a more creative approach can draw in more people and increase your profits. Hotel financing can help fund your efforts to build a noteworthy hotel restaurant that even people a block away will come to.
Restaurants Can Bring in Revenue During Low Seasons
Certain times of the year mean a dip in business for hotels, as people are less likely to travel. However, even in these months, you can still bring in revenue. Imagine if you continued to be busy and maximize profits during low seasons. A restaurant inside your hotel where everyone wants to eat, even if they aren’t staying in one of your rooms, can increase your revenue. Hotel loans can help you craft a gorgeous interior where you can serve high-quality food to hotel guests and non-guests alike.
Utilize Hotel Financing to Build your Hotel’s Restaurant
The initial costs of building a hotel restaurant can seem daunting. However, with the right hotel loans, you can make this lucrative opportunity reality. This way, your incorporated eating establishment will have time to get up and running and generate income for your business. To ensure a successful renovation or expansion for your hotel, speak to a hotel financing company that specializes in lending to the hospitality industry. This will help you find the best options for your addition.
At Stonehill, we specialize in direct hospitality lending. We have a proven track record for delivering the best financing solutions for our customers. Stonehill offers hotel construction financing, permanent loans, bridge loans, and a variety of other loan programs to help your business. Our dedicated professionals can help you find the ideal choice for your projects or acquisitions. Call us today at (713) 666-2544 to schedule a consultation. We look forward to the opportunity to work with you.
Adding certain features to your hotel can help you increase revenue and stay competitive in the hospitality market. Hotel loans are a great way to fund these renovations and updates to boost your business and fill more rooms. Make sure your renovations will attract customers at the price point you want. There are a few upgrades to consider when deciding where your renovation priorities are.
Revenue Increasing Features
It can be difficult to stand out in the hospitality industry. However, adding or updating the following amenities can help you win out over the competition:
- Inviting entrances
- Luxurious in-room bathrooms
- Ample power outlets
- Recreation facilities
- Dining areas
- Wellness spas
Since these additions to your hotel can appeal to many different people, you can include many different types of guests, like business travelers, vacationers, and honeymooners. The investment could pay off in huge ways for your company. These features and renovations can help increase your revenue and bring in more guests. Therefore, you want the right hotel financing to make these things a reality for your hotel.
Using Hotel Loans To Make These a Reality
With the help of hotel loans, you can add the features that your guests want. Depending on which amenities you are going to add, there are a number of hotel financing options. One of the first steps is to decide how much capital you will need to create these spaces and conveniences. Make a list of what needs to be renovated and speak to your preferred contractor about estimates for these changes. Then, think about what your budget will be. Finally, discuss your needs and budget with your preferred hotel lending company to see which hotel loans are best for you.
At Stonehill Strategic Capital, we offer practical hotel financing solutions. We can help you with bridge loans, permanent loans, mezzanine financing, preferred equity lending, hotel construction financing, or PACE lending to suit your needs. Our team will discuss your requirements and options to find the most appropriate hotel loan for you. Give us a call today at (713) 666-2544 to schedule a consultation. We look forward to the opportunity to serve you.
On September 6, 2018, the American Hotel & Lodging Association (AHLA) announced its 5-Star Promise initiative. Finding the right hotel construction financing options will help you upgrade security measures as a part of this program. Also, it can create the best outcomes for your hospitality company and the safest environment for your guests and your staff members.
What Is the 5-Star Promise?
The AHLA announced the 5-Star Promise initiative as part of its ongoing efforts to promote the safest possible settings for employees in the hospitality industry. Some of the most important elements of this voluntary program include:
- Establishing policies banning sexual harassment and posting those policies in multiple languages for employees
- Training and educating employees about sexual harassment
- AHLA training programs for safety, security and diversity in the workplace
- Partnerships between AHLA and the National Alliance to End Sexual Violence, Polaris, End Child Prostitution and Trafficking and other agencies and organizations to focus on workplace safety and the end of sexual violence and child abuse
The AHLA also recommends that employees are given safety devices as part of participation in the 5-Star Promise initiative. Surely you want to promote safety for your employees. However, depending on the how big your staff s and the types of security devices needed, hotel financing solutions may be necessary to create a safe environment in line with AHLA’s suggestions.
Participation on the Rise
Since it was announced, participation in the 5-Star Promise program has increased by 230%. Currently, about 20,000 properties have committed to the principles of the 5-Star Promise. They are putting the safety and well-being of their employees at the top of their priorities. The right hotel loans can provide financial support for these and other activities in the hospitality industry.
Finding the Right Hotel Construction Financing Solutions
Renovating, upgrading, and adjusting safety in your properties is an ongoing process. These projects mean you want the most practical hotel construction financing options available. Working with a company that specializes in hotel financing is the best way to manage expenses of this nature. Your hotel lending company will provide you with the right solutions for short-term and long-term lending arrangements in the hospitality industry.
If your company needs the best and most practical options for hotel funding, Stonehill is the best and most practical solution for your needs. We are direct lenders with a commitment to quality and customized arrangements for our customers. Call us today at 713-666-2544. Our team will be happy to work with you to create the most practical financing solutions for your needs.
Making sure that your hotel appeals to your target audience is critical to your ongoing success in the hospitality industry. The right hotel financing options can help you to update and upgrade your amenities to align with the preferences of your guests. Mobile innovation is one of the most important areas in which improvements may be overlooked by hotel owners and managers. Using hotel loans and financing to upgrade technologies for booking, messaging and requesting special services will often pay off in increased guest loyalty and recommendations for your facilities and customer service.
The Most Wanted List for Hotel Guests
According to recent studies and surveys, most hotel guests would prefer to use their mobile device to conduct a wide range of activities in the hospitality marketplace:
- Oracle Research found that 88 percent of the guests they surveyed would be interested in a mobile app that would allow them to personalize their hotel experience.
- SmithMicro’s research indicated that 83 percent of respondents wanted promotions for hotel services and amenities to be sent directly to their mobile device.
- A YouGov poll found that 58 percent of those responding to the survey wanted to be able to book hotel restaurant reservations by using their mobile devices.
- More than half of all those responding to the Hospitality Technology magazine’s 2018 Customer Engagement Technology Study indicated that they would like the ability to pay using a mobile device. Only 28 percent of hotels, however, said they had that capability.
While about 80 percent of hotels allow the use of mobile devices and smartphones to book room reservations, only 30 percent are equipped to allow changes and management of reservations through the same smartphone or device.
Adding the Amenities That Matter to Guests
The right hotel financing options will make it much easier for your hotel to upgrade its mobile and technological services to accommodate the wishes of your guests. Implementing mobile pay options, for instance, is usually a relatively low-cost process that will pay off in improved customer satisfaction. Changing workflows and adding systems that allow for mobile bookings at your hotel restaurant or alterations of existing reservations will usually pay off in an improved reputation for customer service that can increase your profitability in the competitive marketplace.
At Stonehill Strategic Capital, we offer the most advanced and practical options for hotel construction financing, bridge loans, permanent loans, mezzanine financing, preferred equity lending arrangements and PACE lending options. We work with our clients to provide the most appropriate hotel financing options for a wide array of renovation and acquisition requirements. Call our team today at 713-666-2544 to schedule a consultation. We look forward to the opportunity to serve you now and in the future.
Finding the right hotel loans is essential to maintain growth and to stay competitive in the hospitality industry. Airbnb is a serious threat to many hotels in urban areas or resort destinations. Developing strategies that differentiate your hotel in a positive way from these hit-or-miss accommodations will provide you with added visibility and increased interest in your properties. There are a few ways to set yourself apart from Airbnb accommodations in your area.
Focus on Your Amenities
Your hotel offers many practical amenities that Airbnb properties cannot. From swimming pools to business centers and high-speed Wi-Fi, your establishment caters to every part of the travel experience. Hotel construction financing is a great way to fund new amenities and additions to your lineup of services. By offering guests the best experience, your hotel will improve its reputation and will set itself apart from bare-bones Airbnb arrangements with little amenities.
Make Booking Easier
Upgrading your booking processes with new equipment and increased staffing is a great use of hotel financing resources. Especially for hotels that are not part of a chain, making sure the booking process is easy and transparent will ensure that guests can make arrangements for a stay online or on the telephone. This strategy will help your hotel to stay competitive in the modern hospitality industry.
Target Your Primary Audience
Understanding the differences between your hotel’s target customers and those who prefer Airbnb accommodations will allow you to position yourself correctly in the industry. Hotel construction financing arrangements are designed to help you modernize your current hotel properties and acquire new ones that will appeal to your specific niche. A luxury hotel and resort, for example, is not in direct competition with Airbnb and its bargain-hunting customers. If you offer affordable accommodations, you may want to target your potential customers with ads that focus on the services you offer and that Airbnb accommodations do not.
Build on Your Successes
Taking a hard look at your guest data to determine the primary reasons your customers choose your hotel will allow you to focus your financial efforts where they will do the most good. For example, if your facility primarily caters to business travelers, upgrading your connectivity and equipment with the help of customized hotel loans could promote your appeal among this niche of the hospitality marketplace.
At Stonehill, we offer hotel loans designed with your needs and your hotel in mind. We go the extra mile to ensure that your financial arrangements suit your needs perfectly. Call us today at 713-666-2544 to schedule a consultation. We are here to serve you.
The recent opening of the newly renovated and reimagined Philadelphia Marriott Old City highlights the importance of the right hotel financing solutions for hospitality companies throughout the United States. This property now boasts 364 rooms and 17,000 square feet of meeting space, which sets it apart in the Philadelphia hospitality marketplace. Here are some of the most exclusive features of the newly rebranded Philadelphia Marriott Old City hotel.
Along with the increased amount of meeting room space created during the renovation, the Philadelphia Marriott Old City also incorporates a Great Room for entertaining, the elegant M Club Lounge and 17 dedicated event rooms. These spaces are ideally suited for meetings of all sizes and are available for weddings and other gala events. According to the interior design team who worked on the Old City project, the patterns and textures featured inside the building were inspired by the warehouses that surround the area and the artisanal qualities of the designs created by manufacturers and craftsmen in this part of Philadelphia.
A Change in Direction
The property now known as the Philadelphia Marriott Old City was previously operated under the Sheraton Society Hill label. The change in name and appearance is designed to expand the options available to guests and to transform the interior spaces of this exclusive hotel into a more practical solution for the needs of modern businesses and travelers. By upgrading the business center and expanding the meeting spaces available for guests and corporate clients, the Philadelphia Marriott Old City will be able to achieve greater visibility while setting itself apart from other lodging options in the City of Brotherly Love.
The Importance of Hotel Loans
Hotel financing is critical to projects like the one just completed for the Philadelphia Marriott Old Town and many other hotels across the U.S. Finding the right solutions for funding is essential to promote the highest profitability and the best outcomes for these construction projects. By working with a firm that specializes in funding for the hospitality industry, companies will typically secure the hotel loans they need on terms they can afford.
Stonehill offers hotel construction financing and other hotel financing options designed to help companies in the hospitality industry to achieve greater profitability and to provide great service to guests. Our team will work with you to determine the most practical and cost-effective solutions for your current and future financing needs. Give us a call today at 713-666-2544 to discuss your requirements with our expert consultants. At Stonehill, we are here to deliver the most innovative and effective solutions for all your hospitality finance needs.
Modular construction strategies are becoming more popular throughout the industry. The recent opening of the Bay Area’s first modular hotel project, Home2 Suites by Hilton, demonstrates this trend. Acquiring the right hotel loans will provide the necessary funding to explore modular building methods and to promote the highest return on investment. Here are some of the highlights of the Home2 Suites project and the modular building processes used in its construction.
The Specifics of the Hilton Modular Hotel
The Home2 Suites project not only represents a first for the Bay Area but also a first for Hilton in modular hotel construction. The property encompasses 57,000 square feet and includes 155 suites complete with kitchen, a game room, shared spaces and a combined laundry and fitness areas. Hilton also included solar panels capable of producing almost half of the necessary energy to power these spaces. A bio-retention pond located on the property will filter run-off, which will help to reduce the carbon footprint of this innovative hospitality development. Free internet access and pet-friendly policies round out the exceptional amenities included in the Home2 Suites guest experience.
Benefits of Modular Construction
Modular building methods will typically speed up the construction process, reducing the cost of labor and providing the best return on investment for your project. It may even provide added support in acquiring the right hotel construction financing for your needs. Because the components of the building are created offsite under controlled conditions, weather is no longer a major factor in the ability to produce these components. This allows higher standards of quality for the components by allowing testing before they are put to use in building the hotel.
Determining the Right Approach to Financing
Because modular construction is relatively new to the hospitality industry, companies may find it difficult to obtain the right hotel loans for these types of projects. An experienced hotel loan and financing company can help you obtain quick approval for desirable financing for modular hotel projects.
At Stonehill, we specialize in the hotel loans you need to achieve your goals in the hospitality industry. Our hotel financing team will work with you to ensure the best solutions for your needs and your upcoming projects. Give us a call today at 713-666-2544 to discuss your funding requirements with our team. We look forward to the chance to serve you.
Taco Bell recently announced the newest addition to its lineup. Rather than a new restaurant location or menu item, this upcoming arrival is a theme hotel that offers accommodations designed for the most committed Taco Bell fans. The hotel has been dubbed “The Bell” and is expected to open on August 9, 2019 for a limited time. This pop-up hotel concept highlights the need for innovative short-term and long-term hotel financing options for hospitality companies.
Taco Bell With All the Trimmings
The Bell will feature many of the most popular menu items currently found on the Taco Bell menu, including Baja Blast frozen drinks, tacos and sauces. New menu items will also be introduced as an exclusive feature of The Bell. According to those in the know, the Taco Bell theme will be carried through the entire establishment. Pool floats will be emblazoned with Taco Bell branding. Guests will even be able to visit an on-site gift shop and salon that will offer theme-inspired hairstyles and nail art.
Reservations Available Starting in June
The Bell will begin accepting reservations sometime in June 2019. Prices and available dates have not yet been released for the new hotel. The Bell, however, is not Taco Bell’s first venture into the hospitality industry. In 2016, the food-service company entered into a partnership with Airbnb to host four fans in a Steakcation event in Ontario, Canada. This event was designed to draw attention to the release of the Steak Doubledilla, a new menu item released during that year.
The Right Solutions for Hotel Financing
The projected success of the Taco Bell pop-up hotel is a good example of the opportunities made possible with the right hotel lending arrangements. It is likely that Taco Bell and the Yum! Brands conglomerate can afford the cost of this temporary hotel out-of-pocket. However, other businesses in the hospitality industry benefit from short and long-term hotel loans that can allow for timely renovations and acquisitions.
At Stonehill Strategic Capital, we work with hotels and other companies in the hospitality industry to provide the hotel financing needed to maintain profitability. We are direct lenders and can provide permanent, preferred equity, bridge and mezzanine hotel financing. Give us a call today at 713-666-2544 to discuss your financing requirements with our team. We look forward to the opportunity to serve you.
The right approach to refinance your hotel loans will provide you with the best options for your financial needs. Understanding the criteria used by lenders is essential to ensure the best possible results. Keep in mind a few key points when planning to refinance loans in the hospitality industry.
Timing Is Critical
Taking a good look at the terms of your loan and assessing the best time to refinance is essential to protect the financial health of your company.
- Checking to see if commercial interest rates are increasing or decreasing can determine the right timing for your refinance application.
- If you have a balloon payment scheduled for your current hotel financing arrangement, be sure to leave adequate time before this payment is due. This can ensure that your refinancing options and loan is in place before this payment comes due.
Making sure the timing is right for your application will help you achieve the most favorable terms for your refinancing arrangement.
Check the Terms Carefully
A hotel loan is a long-term financial arrangement. Making sure that all the terms are manageable and that they suit your needs is critical to your ongoing financial stability. Working with an established lending company is the best way to find the right hotel loans. Your loan advisor has the experience and knowledge to help you determine refinancing arrangements that best fit for your needs and current financial situation.
Stonehill is a direct hospitality lender with a proven track record for delivering the right hotel loans for our customers. We offer hotel lending solutions that include mezzanine loans, bridge loans, preferred equity and permanent loans ideal for your company’s specific needs. Call us today at 713-666-2544 to schedule a consultation with us. We look forward to the opportunity to serve you.
An accurate valuation of your hotel’s worth is often necessary to obtain hotel financing arrangements and provide added information for owners, investors and stakeholders. Understanding the valuation methods used to determine this figure can help assess the current value of your hotel more effectively. This can allow you to make practical business decisions regarding acquisitions, renovations and hotel financing options.
Three Primary Valuation Methods
Real estate appraisers and hotel valuation firms typically use one of three methods to determine the actual value of a particular property. These three methods may be tweaked to produce accurate information about the hotel’s value in the market.
- The income approach for valuation looks at cash flows and uses a predictive method to determine the likely revenue streams for the hotel. This can help in determining hotel loans based on valuation of an existing property. Past results are not a guarantee of future performance. However, lenders often request historical data on occupancy rates, profits and revenue streams when applying the income approach to property valuation.
- The cost approach is based on the idea that the hotel is worth as much as it would cost to rebuild less any depreciation. The value of the land on which the hotel sits will also be factored into this valuation.
- The market comparison approach uses comparable properties in similar markets to determine the most accurate selling price for a specific hotel. The amenities, physical characteristics, size and capacity of the hotel will be taken into consideration. Special features or distinctive advantages or disadvantages of the property will also be considered.
Each of these methods can provide valuable information on the actual worth of your hotel investments. With accurate information, the likelihood of success in acquiring hotel construction financing for new projects or acquisitions increases.
At Stonehill, we offer many hotel financing options for investors. We work with our clients to ensure the best lending solutions for every need. Our commitment to going above and beyond for those we serve is demonstrated in every transaction we handle. If you need hotel financing, call Stonehill today at 713-666-2544. We look forward to the chance to serve you.