GRP Capital is pleased to announce that Managing Director, Krishan R. Patel originated a refinance loan for a dual-brand hotel in Southwest Florida. Keren Alpert provided closing services for the transaction.
GRP Capital secured a fixed-rate term loan for the borrower. The borrower came to GRP Capital as an existing client with the company.
Krishan Patel discussed the complexities of this transaction. Patel noted, “Our client had a unique vision to expand his property and diversify revenue stream by creating different experiences at one location. To be clear, the dual-brand idea required specific debt tailoring, which we were able to accomplish. In the end, we were thrilled to close this loan in late December. Most importantly, all of our team members worked closely to make this happen.“
Dual- or tri-brand properties can create varied experiences for guests while optimizing expenses. With a multiple brand property, guests select from different room types at different price points. Meanwhile, management is able to utilize the same staff and reservations system. In other words, guests increase their choices and owners are able to realize operational savings. Do you have a multi-brand hotel project to discuss? Our team will be happy to answer your questions at AAHOA’s Successful Multi-Brand Hotel Development workshop on Wednesday, March 4th!