Tag Archives: hotel financing

Repeat Client Purchases Maine Hotel

Our client partners had their eyes on a Maine hotel. One of the partners is already experienced in the New England hospitality business. He even recently closed another hotel purchase with GRP Capital. He and his partner thought that this Maine hotel was just what they were after: a stable hotel that could quickly become more profitable.

The new hotel is located in a charming New England town with a nearby college.

Ryan Dumas, Senior Associate was very pleased to close this loan “I know one of the partners really well. He’s honest and a good business person. He has a vision to purchase New England properties, particularly those that can easily become more profitable. His business plan was strong and the lenders believed in the project. The partners have a clear and doable set of steps to increase the revenue of this hotel right away.”

Business Plan Basics and this Maine Hotel:

• Understand your hotel’s seasons as you take action: Many hotels are in locations that have seasonality. High season for a Maine hotel is different than the South Florida hospitality landscape. A strong business plan recognizes any seasonality and has a strategy for both high season and low season. This plan incorporates staffing, marketing and setting rates.

• Really understand the STR report of the property you are buying or refinancing. Smith Travel Reports or STR reporting gives you information not just about the property you are investigating. STR reports also show you that property’s position in the marketplace. You can compare this hotel to others nearby in terms of occupancy and daily rates. This is incredibly useful information for a potential buyer. You can use the STR numbers to set realistic goals and create a business plan that works towards those targets. If the hotel is not a STR subscriber, make sure that hotel statistics are accurate and complete.

• Highlight your previous positive experiences. This hotel owner had experience with underperforming properties. Therefore, the partners could quickly delineate the needed changes which would have an immediate impact on both revenues and expenses. If you have successfully operated this type of business or another business but in this marketplace, indicate that in your business plan. Explain how you have enhanced revenue or minimized surprise expenses in your previous business endeavors.

Why Choose GRP Capital?

Our GRP Capital team specializes in crafting financing solutions tailored to each client’s unique goals.

Whether you’re purchasing, refinancing, or building from the ground up, our extensive network of lenders ensures you’ll find funding that aligns with your goals and cash flow needs.

Here’s what sets us apart:

  • We save you time by researching and identifying the best funding options for your project.
  • Our expertise spans various loan products—including SBA loans, bridge loans, and conventional financing—so you can navigate even the most complex transactions confidently.
  • Beyond lending, we provide strategic guidance on operational decisions that drive long-term business success.
DoubleTree Hilton Head

DoubleTree Refinance for Repeat Client

Ryan Dumas and the GRP Capital team successfully refinanced a DoubleTree, securing a loan for a repeat client. The partners were able to refinance very affordably. They also pulled cash out, paying off original investors. They were quite happy to follow through on their original business plan, upon purchasing this property.

Senior Associate Ryan Dumas and our entire team collaborated with our very motivated clients to get this somewhat complex loan closed. Ryan, who knows these clients quite well at this point stated:

“I really respect this client group and was so happy that they came to me for financing again. They have owned this DoubleTree, located in a popular beach resort town. They operate the hotel well and it has increased in value since they took it over. More importantly, the clients know the marketplace very well. Because we know the clients and they understand their marketplace, it was easier to match with a lender and to make a good case for this loan. They were very pleased to pull out a seven figure amount from their cash out.”

Advantages of Being a Repeat Client for these DoubleTree Buyers:

  • We know you: we have your personal historical documents and we know how you operate.
  • We know your people: We already have worked with your attorneys, insurance agents and perhaps your accountant and bookkeeper.
  • You know us: Repeat clients know the GRP Capital way: how we secure financing, how we collaborate with you to choose a lender and how we process the loan all the way to closing.
  • With a higher end property like a DoubleTree, there can be additional franchise requirements. The GRP Capital team has a long history with the various franchises and flags.

Contact our team if you are considering conventional lending, SBA funding, 504 Loans, Green Loans or any other loan products. We can help you determine the right mix of loan types for all of your business financing needs.

Our GRP Capital team specializes in finding the right lender for each project. We save our clients time and money, as we research the best choices for their funding sources. Our experience allows our clients to find funding that is project-appropriate and will allow for sufficient cash flow. Whether you are looking to refinance, purchase or engage in construction, we would love to discuss your business plans with you. If you are considering becoming a first-time (or second or third time!) buyer, we can assist you.