Latest news: Choice loan platform; big hire at Horwath; LATAM pipeline surging

   

Choice, Bridge partner
on loan platform.
Choice Hotels
International is partnering with Charlotte-based Bridge to help provide new and
existing Choice hotel owners access to affordable financing solutions. Choice franchisees will be able to submit a request for a commercial loan on the Bridge
platform. Qualified borrowers will then have the opportunity to compare rates
and terms from multiple lenders in Bridge’s network of more than 100 lenders.
The lender base encompasses a wide range of financing solutions, including SBA,
conventional, bridge, CPACE, and CMBS options sourced from banks, private debt
lenders and direct lending from family offices. Choice will promote the
availability of the Bridge solution to prospective owners, with a special
emphasis on hoteliers in the company’s SOAR (Supporting Ownership Access and
Representation) program, which is designed to create hotel ownership
opportunities for historically underrepresented entrepreneurs.

Horwath makes
key hire for Americas.
Independent advisory Horwath HTL
announced that Bryan Younge has joined the firm as managing partner, practice
leader – Valuation Advisory Americas. He will oversee the firm’s advisory
services across the Americas and work alongside Global Chairman John Fareed.
Horwath HTL also plans to expand its team with the addition of several professionals
across a variety of positions within the Americas region. Under Younge’s
leadership, the firm has launched the Horwath HTL MarketCompass Lodging
Reports, covering 110 markets across the United States, offering insights into
occupancy, ADR, and RevPAR trends across all six class scales, detailed
economic contexts, and a proprietary Market Performance Ranking for each market
based on factors that include current, past, and expected performance to assess
each market’s characteristics and its standing relative to all other U.S.
markets.

LATAM pipeline
surging.
The hotel pipeline in Latin America
experienced robust growth through the end of 2024 and climbed to 685 projects
and 110,033 rooms, marking significant increases of 15% in projects and 13% in
rooms year-over-year, according to the latest data from Lodging Econometrics.
Through Q4, projects under construction stand at 270 projects and 48,138 rooms,
up 13% by both projects and rooms YOY. Projects scheduled to start construction
in the next 12 months reached 179 projects and 28,942 rooms, showing increases
of 4% by projects and 5% by rooms YOY. Projects in early planning demonstrated
substantial growth with 236 projects and 32,953 rooms, up 28% by projects and
20% by rooms YOY. New project announcements into the pipeline during Q4 saw a
notable increase of 44% by projects and 32% by rooms YOY, with 82 projects and
12,295 rooms. The luxury segment achieved record-high numbers in Q4, with 129
projects and 26,077 rooms and upper upscale projects also reached a record high
with 115 projects and 22,509 rooms. Mexico is the top country in Latin
America’s hotel construction pipeline with a record-high 248 projects and
38,104 rooms, up 10% by projects and 7% by rooms YOY.  Mexico City is the
leading city with 24 projects and 2,927 rooms. In Q4, 25 new hotels and 4,470
rooms opened in Latin America, bringing the year-to-date total to 73 new hotels
and 13,754 rooms. LE analysts forecast 106 new hotels and 17,615 rooms to open
in 2025, followed by 133 new hotels and 20,422 rooms in 2026. 

Bridge loan for Texas
asset.
Nova Portland Hotels, a joint venture
between Ashburn, Virginia-based Loudoun Hospitality Management and
Atlanta-based Octave Acquisitions, has secured a $4.35 million bridge loan for
a 95-key Avid Hotel in Portland, Texas, a suburb of Corpus Christi. The loan
proceeds were used for the sponsor’s purchase of another hotel in its
portfolio. Seattle-based Avatar Financial Group provided the loan. The JV plans
to refinance with a conventional loan upon stabilization of the asset. Despite
being one of the newest assets in its market, the limited-service hotel has
underperformed relative to competitors, with occupancy and revenue metrics
trailing the market average.  

Hong Kong hotel trades. Hong Kong-based Tang Shing
Bor’s family has sold the 598-key Hotel Cozi Harbour View in the city to Hong
Kong-based Nanyang Commercial Bank, Ltd. for HKD1.87 billion, according to HVS.
The 32-story property was originally purchased for HKD2.25 billion in 2017. 



 

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