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to $110.61. Revenue per available room
(RevPAR) is expected to increase by
5. 7 percent to $68.85, according to data
from Smith Travel Research (STR).
In 2014, STR expects hotel occupancy
to grow 1.3 percent to 63.1 percent, ADR
to increase 4. 6 percent to $115.73 and
RevPAR to grow 6 percent to $72.97.
6. Better financing
Despite recent increases, interest rates
remain at, or near, record lows. It is not
uncommon for hospitality property
owners to qualify for fixed-rate loans
in the range of 4 percent to 5 percent,
with much longer loan terms and significantly lower mortgage payments.
In addition, flagged or franchised hotels have been easier to fund because
of the typically more professional management and marketing efforts by their
parent companies. Mom-and-pop motels and hotels also may qualify for
better loans today because of lower
projected monthly mortgage payments
and the potential for improved net operating income.
Funding for hospitality properties
also is available from various sources
— from government programs to private lenders. The U.S. Small Business
Administration’s 7(a) and 504 programs are attractive, intriguing and viable loan options for hotel and motel
property owners who may or may not
qualify with local community banks in
urban and rural regions. With the availability of different financing options,
property owners can have access to
much higher leverage percentages,
larger loan amounts and significantly
better interest rates.
Commercial mortgage brokers also
can help owners get financing for multiple properties at the same time with
some of the more flexible hotel- and
motel-loan options. They also may look
into available cash-out options for new
improvements and/or cash reimbursements that can help increase their net
monthly cash flow. Keep in mind, however, that with the eventual increase in
interest rates, today’s opportunities may
not last much longer.
young and old, are beginning to pay attention to more of the travel bargains
being offered by hotel and motel owners
with either little advance notice or a fair
length of notice.
In addition, more hospitality property owners are using various social
media websites (such as Facebook,
Twitter and Pinterest) to attract visitors. When travelers have a positive experience at these resorts, they tend to
share their thoughts with friends or acquaintances in the social media world.
For hotel and motel owners, this is just
free publicity. People are more likely to
hold their friends’ opinions about a hotel in higher regard than the opinion of
a travel critic they’ve never met before.
5. Improving indicators
Hotels’ average-daily rate (ADR) and occupancy rates have increased steadily
in the past few years, and that trend is
expected to continue. This year, the industry is expected to record a 1.4 percent increase in occupancy to reach
62. 2 percent, and gain 4. 2 percent ADR
• • •
As the economy continues to proceed
on the recovery path, the hospitality
industry is expected to follow suit.
After enduring the challenging years
of the recession and finally reaping
the rewards of an improving economy,
vacations may be in order for many
Americans. These individual vacations and getaways are rebuilding and
reinforcing the recovery of the hospitality sector as it picks itself up from
the doldrums. •
Rick Tobin is a real estate financier at First
Financial Bancorp. He has had an experienced and diversified background in real
estate and financing for more than 25 years.
He has been published nationally in magazines, newspapers, websites and newsletters. Tobin also appears as a primary guest
on television shows. Tobin and his associates
can finance residential and commercial properties around the U.S. with debt, equity and
mezzanine money. Visit thecreditcrisis.net.
Reach Tobin at email@example.com.
U.S. Bank - SBA Division Y YY Y YYY Y YY Y YYY Y Y
888-722-3948 a 250K 5M 90 1.15 AR AZ CA CO IA ID IL IN KS KY MN MO MT ND NE NV OH OR SD TN UT WA WI WY Visit www.usbank.com/sbascotsman.
Union Bank Y YYY Y Y YY Y YYYYYYY YYYY
714-990-7300 a,c,g 400K 5M 75 1.2 CA DC MD OR TX VA WA www.unionbank.com/commercial-bank/credit/real-estate-financing/real-estate-investor-mortgages.jsp
Velocity Commercial Capital Y YYYY Y Y YYYY Y YYYY
877-VCC-3303 a,c,e,g 250K 1.5M 75 1.2 NATIONWIDE Small-balance commercial? Think Velocity. Par pricing, permanent loans (30-yr. loans/amort.), no borrower income verification required.
Wilshire Finance Partners YY Y YYYY Y YYYY YY Y
866-575-5070 a,b 100K 1.5M 65 1.15 CA Direct private-money lender making bridge loans in CA on flexible terms. Quick turnaround. Call today at (866) 575-5070 or visit www.WilshireLenders.com.
Minimum and maximum
loan size may not apply to
all property types and/or in
all regions and is subject to
change without notice.
a Accepts packages from brokers/
correspondents. Call before sending.
b Only accepts packages through
c Wholesale pricing available to
d Wholesale pricing only available
e Wholesale pricing available to
f Will collect fee for brokers/
g Par pricing available to brokers
1 Acquisition and development
3 Bridge loans
4 Business loans
6 Forward commitments
7 Joint ventures
10 Notes purchased
12 Refinance: Cash-Out
13 Refinance: Rate and Term
15 SBA loans
16 Second mortgages
17 Agricultural (ranches and farms)
18 Automotive (gas stations,
20 Hospitality (motels and hotels)
23 Leisure (golf courses, marinas,
RV parks, etc.)
24 Medical (hospitals, clinics, etc.)
25 Mixed-use properties
26 Mobile/manufactured home parks
27 Multifamily (See Multifamily matrix
28 Office buildings/complexes
29 Office condos
30 Owner-occupied businesses
31 Parking lot sites
32 Rehabilitation facilities
33 Retail (shopping centers/strip malls)
35 Single-tenant buildings
36 Special-/Single-purpose buildings
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
PROPERT Y T YPES
LOAN TYPE / PURPOSE / PARAMETERS
LOAN SUBMISSION CRITERIA
Min$ Max$ LTV DSCR 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 Criteria