#United States #Choice Hotels #North Bethesda #Bridge #Hotel Financing

Unlocking Financing Opportunities for Hotel Owners

In a significant move to support hotel owners, Choice Hotels International has partnered with Bridge, a digital financing platform. This collaboration aims to simplify and enhance the financing process for both new and existing franchisees under the Choice umbrella. In the current economic climate, access to affordable financing is crucial for owners looking to expand their operations or refinance existing loans.

A Streamlined Application Process

The partnership introduces a user-friendly platform for hotel owners to apply for commercial loans. With just a few clicks, hoteliers can submit loan requests via a dedicated page on the Bridge site. This process is designed to be efficient, allowing requests to be completed in approximately ten minutes. Once submitted, borrowers can compare loan rates and terms from a network of over 100 lenders, ensuring they find the most competitive options.

Diverse Financing Solutions Available

The funding solutions available through this collaboration encompass a variety of options tailored to meet the distinct needs of hotel owners. From SBA loans to conventional financing, as well as specialized products like CPACE and CMBS, the breadth of choices provides flexibility and caters to various business models. The lenders represented include banks, private debt providers, and family offices, expanding the possibilities for hotel financing.

Empowering Hospitality Developers

One of the standout features of the Bridge platform is its capacity to enhance the loan application process with data-driven insights. Developers can benefit from a digital offering memorandum that summarizes their financing needs succinctly for lenders. This meticulous screening process allows hotel owners greater confidence in securing the funds necessary for their projects.

Supporting Diverse Business Models

The partnership is particularly focused on assisting hotel entrepreneurs from historically underrepresented backgrounds through Choice Hotels' Supporting Ownership Access and Representation (SOAR) initiative. Recognizing that financial challenges may disproportionately affect these aspiring hoteliers, this collaboration provides a crucial pathway to empowering diverse ownership in the hospitality sector.

Dominic Dragisich, Executive Vice President of Choice Hotels, remarked, "This collaboration is a win-win for Choice and its hotel owners. Overall, securing optimized financing for properties is a high priority, and our relationship with Bridge will enhance access to competitive loan offerings through a straightforward online interface."

Conclusion

As the hospitality sector continues to recover from recent disruptions, strategic partnerships like that of Choice Hotels and Bridge are essential in streamlining operations for hotel owners. The synergy of advanced technology and industry expertise not only eases the financing journey but also equips owners with the resources needed to thrive in a competitive landscape. Interested parties are encouraged to visit www.choicehotels.com for more information about this initiative and explore the benefits of the Bridge platform.