Board Topic: 0% to 10% down loan needed for hotel in ohio
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0% to 10% down loan needed for hotel in ohio

Posted by: Anish Shah Nov 22 2004, 03:40 PM
Seeking lenders that can finance national franchise hotel in ohio with borrower injecting 0% to 10% down. Borrower has over 20 years hotel ownership experience and currently owns Hilton family of hotels in Ohio.

Please email cmhdl_hampton@hilton.com

Thanks.

Posted by: loanuniverse Nov 22 2004, 08:21 PM
Anish:

Good luck finding hotel financing. It has been my experience that most bank lenders avoid doing this type of financing, and I am in an area where tourism is a one of the top industries.


Posted by: Commercial Lender Nov 25 2004, 11:22 PM
Yep! Hotels usually yield a 60% LTV. Best bet would be hotel franchise it self, most have financing arms. Some hard money guys may beinterested if he either has (a) allows a first lein on the other hotel or (cool.gif this hotel is already constructed and has good financials.

Posted by: avatarfi Dec 1 2004, 06:03 PM
We may be able to help you out, depending on your situation. If nothing else, we can at least provide a referral to someone who is reliable in the industry. I wasn't clear on your situation - are you seeking to purchase an existing property, or build one?

You can get in touch via the sig, or through PM system. Good Luck!
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