No matter what the state of the economy, travel is always in style whether for business or leisure. Hotels and motels continue to turn a profit, even in a tough financial market where other businesses are failing.
The hotel and motel industry can be incredibly rewarding for entrepreneurial types who take pleasure in providing comfortable, clean, and affordable accommodations for a range of guests. This industry often represents a lower risk and higher reward factor when you take into account that travelers will always need a place to stay. In fact, hotels or motels that are priced appropriately – think $50 to $250 per night, tend to weather downturns in the economy more easily than luxury establishments or boutique hotels.
As a business owner in the hospitality industry, you have a unique need for financing due to the constant maintenance required in your hotel or motel among other operational expenses. Obtaining financing from a bank for your hotel, motel, or inn may be a challenging task in today’s financial market. If you are an owner and in the market for a hotel loan, Funding Wizards is here to get you the capital you need without the time delays of bank loans.