Check-In for Hotel Financing
It’s quite a time to get into the hotel game. Berkadia national hospitality group director Andy Coleman (here with team members Lindsey DeButts and Mauricio Rodriguez, seated) says that interest rates for hotel financing are historically low and there's a wide range of available capital. Of course, nobody knows when the party will be over, but even the current interest rate jump hasn’t stopped the demand for hotel financing. Andy, whose family ran an Irish saloon on Capitol Hill and is no stranger to hospitality, says the sector has plenty of room for supply and is experiencing a growing number of requests for construction financing. He adds that hotel owners can get 10-year fixed-rate financing in the 4 1/2% range, and that Berkadia is in the process of adding a hospitality investment sales arm within the next year. For more info on our Bisnow partner, click here.
