ValueXpress obtained a $9,000,000 community bank loan to refinance a construction loan that was utilized to construct a 6-story, 103-room Wingate by Wyndham hotel located minutes from John F. Kennedy (JFK) airport. This transaction is the second closing completed by ValueXpress for this client. The … [Read more...]
ValueXpress Arranges $3.2-Million CMBS Conduit Loan for the Refinance of a 55-Room Best Western Hotel in Lake Charles, LA
ValueXpress has arranged a $3.2-million CMBS conduit loan for the refinance of the Best Western Bayou Inn & Suites hotel that was constructed in 2000. The two-story property is located off Interstate 10 at Exit 33 in Lake Charles, Louisiana. Lake Charles has grown with the onset of the … [Read more...]
4.11.18: A Quick Test to Determine Hotel Eligibility for a CMBS Conduit Loan
Often a borrower wants a quick answer on whether a hotel is eligible for a CMBS conduit loan without providing much information. A way to make a quick assessment is to look at TripAdvisor reviews. But before that, the first step in making an assessment is to “google” the address and look at the … [Read more...]
2.27.18: SBA 504 Program Works Well for Hotel Purchases
We at ValueXpress have a niche business in the SBA 504 program. We assist our clients in the purchase of generally mid-scale hotels such as Hampton Inn and Holiday Inn Express brands using the SBA 504 program. Why use the SBA 504 program over CMBS, our bread and butter, for a mid-scale hotel … [Read more...]
8.14.17: Which Hotel Brands Are Eligible for CMBS Conduit Loans?
Most borrowers are aware that hotel properties are eligible for CMBS conduit loans. However, some sponsors mistakenly believe that all hotels are eligible for CMBS conduit loans, but that is not true. In general, independent hotels that are not operated under a nationally recognized franchise brand … [Read more...]
6.28.17: Hilton’s Tru Brand Latest Entrant into Crowded Hotel Franchise Space
Hilton Worldwide Holdings (Hilton) opened its first Tru by Hilton Hotel in Oklahoma City in May. The new mid-priced brand is pricing rooms at less than $100 to attract cost-conscious travelers such as millennials. The larger lobbies and amenities such as craft beer and pool tables encourage communal … [Read more...]
6.21.17: Houston Awaits Hotel Market Recovery
A recently released report identified Houston, Texas as one of the most troubled markets within the Kroll Bond Rating Agency (KBRA) ratings universe, which covers most major U.S. metropolitan areas. KBRA’s observations of the top 25 lodging markets revealed that loans within the Houston MSA were … [Read more...]
2.10.16: A Keurig in Every Hotel Room?
In 2013, Hilton Garden Inn partnered with Green Mountain Coffee Roasters, a leader in specialty coffee and single-serve beverages with its innovative Keurig brewing technology, to upgrade its in-room coffee and beverage offering. At that time, the hotel industry was preparing for a major change in … [Read more...]
9.9.15: ValueXpress to Co-Sponsor the 10th Annual San Antonio Hotel Owners Association Charity Golf Tournament at Hyatt Hill Country Resort
On Wednesday, October 28, ValueXpress will be co-sponsoring the 10th Annual San Antonio Hotel Owners Association (SAHOA) Golf Tournament at the Hyatt Hill Country Golf Club in San Antonio, Texas. About 100 golfers are expected to hit the links to play in a scramble competition, following … [Read more...]
4.3.15: Franchise Expirations Becoming a Headache for CMBS Conduit Hotel Loans
The buyers of the most risky CMBS securities, sometime referred to as the “b-buyers,” have laid down some pretty strict guidelines for the remaining minimum term for franchise agreements on hotels to be eligible for CMBS conduit loans. As the buyers of the most risky CMBS securities, the b-buyers … [Read more...]