An innovative program from Winston Hotels and GE Commercial Financing, Franchise Finance has made it easier and less expensive for hotel developers and purchasers to secure financing. The one-stop-shop program offers loans for up to 85 percent of a project's construction cost. The program is also available for hotel acquisitions and refinancing.

The financing scheme marries a first mortgage with a mezzanine loan, a process that typically involves two or more lenders. Under the Winston/GE plan, the borrower has one blended rate and one mortgage payment.

“It makes the financing process seamless and much easier for the borrower,” says Joe Green, president and CFO of Winston Hotels. “Also, the cost factors are more favorable for the borrower. Unlike the traditional approach, this program requires just one set of loan documents, which makes it considerably less expensive to execute.”

North Carolina-based Winston has a unique business model with several distinct growth strategies. In addition to its role as a provider of debt, the REIT acquires or develops and owns limited-service, upscale extended-stay and full-service hotels, either on its own or with joint-venture partners.

Reprints and Licensing
© 2014 Penton Media Inc.

Acceptable Use Policy
blog comments powered by Disqus

Most Recent

More Recent Articles

Career Center

Quick Job Search
Enter Keyword(s):
Enter a City:

Select a State:

Select a Category:
Franchise Fact File Top Brands
Brand Company Basics Top Management Companies
Owners & Operators Industry Consultants
Industry Associations Industry Events
Design Firms Purchasing Companies
Top Ownership Groups

Click here to view all of the Lodging Hospitality Photo Galleries

Accor Best Western
Carlson Rezidor Choice
Hilton Hyatt
IHG La Quinta
Marriott Starwood
Vantage Wyndham

Free Product Information
News and Trends for the Hotel, Motel, and Hospitality Markets.

Lodging Hospitality eReport
Lodging Hospitality electronic newsletters are FREE to requested subscribers.

Lodging Hospitality Resource Center
The Lodging Hospitality Resource Center is the ultimate resource to find products and services to build, equip, and renovate hotels, motels and resorts.

Subscribe / Renew
Visit our subscription center to subscribe or renew your subscription to Lodging Hospitality.

Visit our webinars page to view all our upcoming and on demand webinars.

Visit our White Papers page to view all our current White Papers.