Fast and Effective Hotel Financing Solutions.

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. 

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, Lex Funding is here to get you the capital you need without the time delays of bank loans.

Hotels and Motels take out loans for an array of reasons:

The leading reason hotel and motels look for funding is standard maintenance and renovations. Whether you are a franchise of a larger flagship or a small boutique shop, the need to update the interior and exterior of your business comes every year or every couple of years. Most hotel and motel owners have a difficult time finding traditional lenders who are willing to lend money for their needs. Many hotel and motel owners need extra cash for:

Labor Costs: If you’re running a hotel, motel or a B&B that employs staff other than yourself you know that labor in the service industry takes up roughly 47% of the operating costs.

Utilities: According to EnergyStar.gov hotels and inns spend approximately 6% of their operational budget on utilities.

Property maintenance costs: Maintenance costs for a hotel are hard to classify. They are neither variable costs nor fixed costs. For example, wear and tear on a property that is busy is much higher; however, wear and tear will still occur even when guests are few and far between.

Marketing: According to Google 50% of all hotel reservation in 2013 were made online. It might be time to expand your marketing budget.

Taxes: Land and building taxes as well as taxable income. In 2013, the lodging industry generated $41.0 billion in pretax income.

Expansion: Purchasing a second location takes planning and capital. Many hotels and motels look to expand and take out hotel loans, in order not to take away from the existing business’s cash flow.

Apply for Hotel Financing Today

Our goal is to help your hotel, motel, or bed and breakfast operate efficiently and grow with the rising market demand. We understand that sometimes as a business owner you just don’t have the time to jump through the hoops of traditional lenders. That’s why our application process is quick and simple.

Click here and complete our one page application or call (347)-815-FUND to speak with a funding coordinator to determine the hotel business funding option that will work best for your business’s needs.