Since 2011, United Capital Source has been working with dozens of Holiday Inn Hotels & Comfort Inn Motels.
As the travel industry has boomed in recent years and new competition from online websites, including Airbnb and TripAdvisor, blossomed, hotel and motel operators have improved their property’s facades, refurbishing rooms and restaurant decors as well as upgrading leisure facilities (pools and gyms).
Also, given travelers have instant access to last-minute booking options from a travel website like Expedia and Hotels.com, there has been more awareness of upgrading hotel properties to cater for this online accommodation for shoppers who make buying decisions on travel reviews and actual photos taken by guests posting them to sites like TripAdvisor. This has impacted cash flow and increased hotel/motel franchise owners’ need to seek working capital loans.
Fortunately, United Capital Source has a finance team that understands the hotel franchise business model and provides small business loans for hotels and motels. Whether it is additional capital needed for new signage, exterior painting of the building, internal furniture, bathroom renovations, or new kitchen equipment, United Capital Source understands the financing requirements and lending options.