We set very aggressive growth goals for our company but were in need of additional equity to accomplish them. Fortunately, Stonehill had faith in our development and operational track records and worked with us to provide preferred equity that solved our capital needs. The Stonehill team is extremely knowledgeable about providing gap financing that has allowed us to significantly increase our presence in the New York tri-state area by adding five new hotels to our portfolio, as well as an AC in the San Diego’s Gas Lamp District.
