LODGING turns the spotlight on several lenders and financial service providers serving the hospitality industry and what hoteliers need to know to identify the right partners. Read about navigating the hotel lending environment in 2022 here.
Editor’s note: The following list is in alphabetical order. All numbers reflect the 2021 calendar year.
Stonehill
Stonehill primarily focuses on funding bridge loans, mezzanine loans, permanent loans, and preferred equity investments backed by limited- and select-service and compact full-service hotel assets. Since its founding in 2013, Stonehill originated more than $3.5 billion in loans for hospitality projects seeking capital to complete acquisitions, recapitalizations, refinancing, and renovations.
- Number of hotel loans serviced in 2021: 30
- Volume of hotel loans in 2021: $850 million
- Average loan amount in 2021: $28 million
- Loan types/services offered: Bridge, Construction, Mezzanine, Preferred Equity, Commercial Property Assessed Clean Energy (CPACE)
- Company contact: Jared Schlosser, jschlosser@stonehillsc.com
What is your outlook for the lending environment in 2022?
“While performance in some markets has surpassed pre-COVID levels, most lenders are not back to pre-COVID originations. Throw in inflation and labor challenges, and you have more uncertainty. Traditional lending sources are slowly coming back, but borrowers will have to get more creative to get projects capitalized. Liquidity will be a hot button issue, as will a borrower’s track record. Expect to see non-bank lenders continue to fill the void and gain market share. Leverage will continue to be conservative, and lenders will stress underwriting to reflect rising rates.”
— Michael Harper, Senior Vice President, Stonehill
