For nearly ten consecutive years, the hospitality industry has experienced an impressive uptick in growth driven by a robust economy.
In fact, from 2009 to 2017, US hotel gross bookings grew from $116 billion to $185 billion, according to Deloitte.
Specifically, in Chicago, the hospitality industry is made up of a plethora of small businesses that generate thousands of jobs each year. In other words, it is a great time to take advantage of the hospitality market’s expanding success in Chicago.
However, for your hospitality project to succeed, you need reliable funding. To begin your search, we’ve compiled a list of the top hotel financing companies in Chicago below.
With 15 years of experience in hotel lending, AVANA Capital is recognized as one of the top hotel financing companies in the nation.
AVANA Capital’s team, utilizing their combined expertise, guides you through your hotel financing experience. This guidance ensures that you are ready when it comes to choosing the right loan product for your needs.
After you determine the loan you’re best qualified for, AVANA Capital’s team takes you through the entire loan process. This process includes underwriting through the loan’s closing. To meet your company’s needs best, AVANA Capital provides a quick funding timeline when closing loans.
AVANA Capital has a variety of financing programs available for clients to take advantage of. Thanks to the flexibility and ease that AVANA Capital offers, it is one of the top hotel financing companies in Chicago.
Phone: 1 (877) 850-5130
Clopton Capital is known as a national commercial mortgage broker. The hotel financing company is dedicated to matching borrowers engaged in commercial real estate with lenders that align with their needs.
Clopton Capital has a variety of hotel loan specifics that clients can choose from. For example, clients can benefit from loans with ten year fixed rates, or up to 30 years amortization. Additionally, the team at Clopton Capital only approaches lenders that are hotel financing specialists.
Phone: (866) 647-1650
Davis Hotel Capital provides clients with creative hospitality financing solutions. Clients can use this financing for things like acquisitions, renovations, as well as brand conversions.
The hotel financing company has a focus on hospitality real estate. Thus, Davis Hotel Capital possesses diverse and comprehensive expertise when it comes to fulfilling your hotel financing needs.
Phone: (720) 289-4513
Tishman is a vertically integrated commercial real estate advisor. Founded in 1898, Tishman has a team of experienced real estate, financial, and hotel management specialists.
In the last 30 years alone, Tishman has sourced almost $8 billion of debt and equity for its projects. This funding has involved a wide variety of real estate—hospitality, retail, office, as well as residential. Additionally, the hotel financing company has a strong relationship with Tishman Construction Corporation.
Phone: (212) 399-3600
Founded in 1991, Aries Capital has over 27 years of experience in commercial real estate financing. When partnering with the hotel financing company, clients can take advantage of a plethora of services.
Some services Aries Capital provides are permanent debt financing, mezzanine debt, and construction financing. In addition, its team possesses the first-hand experience as former real estate investors and direct lenders.
Phone: (312) 640-7420
All in all, the right hotel financing company for you depends on your unique business needs. Thus, to make the best choice possible, assess the needs of your hotel funding.
After you have determined your needs, you are more than ready to partner with a hotel financing firm. By working with one of these top hotel financing companies in Chicago, you are ensuring your hospitality project’s success.