I called around to some and its neat..one lady said she owns some franchise hotels and from that also created her own independent hotels. There are so many throughout the country and they are a vital part of the Tourist industry. I am targeting New York but hotel and motel owners across the country are welcome to call me and explain their situation!
Independent Hotel and Motel Owners have cash flow needs just like any other business and sees the Holidays as generators of cash.
Hotels and Motels need to keep their rooms furnished. If a curtain is set on fire or a bunch of college kids have a beer-fest in room 201 and throw up over the floor the owner of the hotel may be stuck with the Bill. The next patron doesn't want to hear her sob story and just wants a clean bed to sleep in after a long day's drive. So many different expenses happen at the worst time for hotel owners. If no body is checking in to cover these expenses the hotel owner may find they are the ones checking out.
Hotel owners may need cash from a commercial loan to add more rooms on a hotel that was neglected by the prior owner. Maybe the mattresses need to be replaced. Maybe a car crashes into one of the rooms. Maybe a contractor takes the money and runs without completing the rehab work. Maybe the hotel catches fire due to a motivated cigarette. so many maybes and not enough money.
American Cash Solutions Inc has lenders that specialize in hotel loans. Some lenders tell us upfront they don't do hotel loans and we appreciate that feedback. After 9/11 everyone was still travelling and stayed at motels and hotels. where else would they stay? Some analyst claimed hotels would suffer because people would stay home. America did NOT stay home. We packed our bags and checked in.
Charles G Hennebeul
Proud to Be an American
Commercial Loan Broker
American Cash Solutions Inc