News
ACCESSING HOTEL CAPITAL
July 28, 2011
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| We caught Access Point Financial's CEO Jon Wright amidst the hectic 10k SF move-in at One Ravinia, where his new firm is established. Jon heads up Access—formed last week by Conneticuit-based Stone Point Capital—to lend to the hospitality industry. Jon tells us that right now, short-term lending by major hotel brand franchisees is the rage. When times were bad, Jon says major chains overlooked lapses in quality from their franchisees as everyone struggled to make money. With the economy improving, hotel operators are starting to crack down on their franchisees. ?All the investors in these hotels have been beaten down. But then again, it's not been the bloodbath that has been projected,? Jon says. The company expects to originate $1B in mainly short-term loans during the next three years. |
