Do you know the perfect time to buy a hotel? If you don’t, you should take advantage of the relationships and expertise of Resourceful Capital Financial Corporation to purchase, refinance or upgrade your hotel today. Since every hotel or motel is unique and seem to be flawless in and out of its structure, but through our extensive experience regarding hotel acquisitions and finance that can provide you the best financing terms and rates out there, for sure, you have nothing to look for more.
Simply let us to be at your side on your commercial mortgage and rest assured that our commercial mortgage specialists can successfully help you fill out the needed forms smoothly and quickly. They can as well help you shape the best possible case in order to acquire the loan you need. Whether it is a renovation, new purchase or conversion to a hotel and resort in the future, Resourceful Capital Financial Corporation will always be there to help you achieve that dream.
When you refinance or purchase a motel or hotel, you must know that there a lot of hotel financing options for your business. These include cash through government bank loans, loans from private investor or private lenders and regular banks. If you are a Canadian citizen and looking for finest motel or hotel loan or mortgage for your property across Canada, we can always organize the financing exclusive for you. If you want an overview of the hotel financing in which we can offer you, here are they:
• Financing for all hotel and motel kinds
• Mortgages and loans begins at $750,000 and up to millions
• Mortgages and loans for renovations and or refinancing of your property
• Funding for motel and hotel along with consistent occupancy percentage and great business plan
• Mortgage and loan terms from 15-25 years
• Airport, downtown, roadside, resorts and beach hotels are welcome
• We can finance franchised or independent motels and hotels.
While each hotel financing request is unique and different unto itself, we at Resourceful Capital Financial Corporation, hope that we have supplied you with sufficient preliminary data in order for you to make your ultimate option for financing. Rest assured that we will work real hard for you, whether you are refinancing, purchasing or you simply want to acquire some additional cash out of your motel or hotel mortgage to utilize for more marketing programs.
Get an organized and prepared good business plan as all lenders would want to view that. Make certain that in this plan, you will include the most valuable financial data with regard to how much cash is required, how that cash will be utilized and your plans on how to pay back that loan. If you presently own the hotel and are refinancing, involve the information on your present occupancy rate. You must include the advantages of your present location as well. All lenders always like to be fully informed.
Factors that can affect your Loan Application
There are a variety of factors that could help you create a more attractive and interesting loan application to a lender. If you want to know what they are, learn more about them below:
• A deposit amounting to 30 percent or more
• Good business plan
• Additional security
• Great credit score history
• Evidence of experience
• Tough income projections or two-year trading accounts
• Strong proposal from Resourceful Capital Financial Corporation
Why Choose Resourceful Capital Financial Corporation?
Use the know-how and experience of Resourceful Capital Financial Corporation to establish the finest plan to get your motel or hotel financing. Whether your loan will be utilized towards the construction of a newest accommodation property, the renovation of old hotel or motel, the acquisition of a grand-scale renovation or a franchise, Resourceful Capital Financial Corporation can find the most appropriate financing product to fit your business needs.
If your start up motel or hotel is not involved in an acknowledged accommodation chain, protecting financing by a financial institution or a conventional bank may be hard. Resourceful Capital Financial Corporation can achieve financing from other syndicated real estate financiers and non-bank lenders at lower coats rates than provided via private commercial lenders.
Honestly, it may be huge step to invest in a motel or hotel venture, but once we are at your side, believe that we’ll make our hardest effort to make it easier and beneficial to you. Here are some tips that you may consider through the process of making the best purchase for the future of your business.
Unflagged and Flagged Property
A flagged hotel property connotes is part of a national franchise. Examples of this are the Best Western and Holiday Inn. The interesting part about flagged properties for guests is that they can count for similar standards of layouts and rooms, cleanliness and treatment from coast to coast. The room conditions are uniform and there is a certain credibility interlinked with the franchise name which can guarantee clients.
Advantage of Flagged Property
If you purchase a flagged property, you need to pay for a franchise fee which can range between 5-10 percent of the room’s revenue. Lenders see franchise hotels positively since they are well established and known. Lenders may opt financing to flagged properties than the unflagged ones.
Additionally, lenders consider as well the revenue per available room called RevPar. It is being calculated through multiplying the average room rate on a daily basis by the occupancy rate. This figure serves as the key indicator of performance for any hotel. Whenever RevPar elevates due to either the room is being rented out more frequently or the rate is elevating, these are both favorable signs for lenders.
The revenue per available room is the most significant consideration for hotel lending despite the fact that the hotel may produce revenue in other possible means. This is because other ventures in a hotel frequently cost more to manage, decreasing net operating income or in simple words, the NOI. For instance, the costs to manage a restaurant, compared to a hotel, are most of the time much higher which lowers the total sales of the hotel. As an outcome, narrow service hotels (those which do not have restaurants) are chosen by lenders over the full service varieties or unflagged properties.
Certainly, there are instances that it can be extremely hard to acquire a commercial loan for an unflagged property, most especially if the property is not located in what is considered a destination resort area. A destination resort area refers to top row areas in which tourists mostly prefer to visit.
Take Advantage of Our Service Now!
Resource Capital Financial Corporation is the company you can depend on when it comes to hotel and motel mortgages. A lot have already used our services in accordance to mortgage loans and also, stated their gratitude about our helpful and generous service to them.
For more information with regard to hotel loans and mortgages, you can contact us at 1-888-882-0786 and speak to one of our experienced commercial financing representatives. Our financing representatives are always willing to tell you in full details all about commercial loans if you are planning to buy or renovate a hotel. Moreover, never worry about accomplishing a commercial financing application because we are always here to help you all the way!