Help Building Resort Hotel
Good hotel lenders are few and far between and are notoriously picky about the deals they choose. It will be difficult to obtain financing if you have no previous hotel experience. They also want to see the management have partial ownership as well. Obviously banks like to lend on certain flags more than others so thats a major consideration as well.
That being said, lenders become much more lienient when you put more of your own cash into the deal. Where are you planning to build your hotel?
Along these same lines; Does anyone have any experience leasing back hotels? I have a good location for a franchised chain hotel, but know nothing of, nor care to know anything about running a hotel. I do know that I can build one for a very competative price. I want to lease the building to a franchisor. Any ideas, comments or thoughts on how the bank would look at a deal like this?
I have some land deals available.
So you found a piece of property? Is that it? Do you own it? Is it at least under contract? Who told you there was a market need? Does he have a study to back it up? What is your competitve set doing? Who are they?
Thanks. I took a look but their fluorescent lines look to be mostly of the open bulb variety, under cabinet stuff, etc. Nothing that is really a suspended linear pendant design.