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.
Spirides Hotel Finance Company
Through its nationwide network of lenders and other sources of capital, Spirides Hotel Finance Company provides financing for hotel, motel, and resort owners and developers across the United States to fund new ground-up construction projects, acquisitions, debt re-financings, and renovations. Spirides Hotel Finance Company has the expertise and the capacity to quickly fund any type of hotel capital project. The size of the financing products provided for customers typically ranges from $2 million and upwards.
- Volume of hotel loans in 2021: $55 million
- Average loan amount in 2021: $9 million
- Loan types/services offered: Acquisition, Construction, Debt Refinance, Renovation
- Company contact: Harry G. Spirides, info@hospitality-finance.com
What is your outlook for the lending environment in 2022?
“The volume of hotel mortgage loan origination in 2022 will continue at a very brisk pace. However, to contain inflation we believe the Federal Reserve will continue hiking interest rates in quarter-point to half-point increments during each of the next six times they meet in 2022. This will have a direct effect on the interest rates most banks will offer on their loans to hoteliers. A persistent industry-wide labor shortage, rapidly rising inflation, and higher interest rates will make lender underwriting standards more conservative when considering new hotel construction loans.”
— Harry G. Spirides, President, Spirides Hotel Finance Company
