Choice Hotels International Inc. has partnered with digital platform Bridge to help provide its new and existing hotel owners with access to affordable financing solutions.
Interested Choice hoteliers will be able to submit a request for a commercial loan in as little as 10 minutes via a dedicated, customized Choice Hotels landing page on the Bridge platform—a digital platform that leverages advanced technology to digitize and optimize the loan search process, according to the companies. Qualified borrowers will then have the opportunity to compare rates and terms from multiple lenders in Bridge’s network of more than 100 lenders.
The lender base encompasses a wide range of financing solutions, including SBA, conventional, bridge, CPACE and CMBS options sourced from banks, private debt lenders and direct lending from family offices. Additionally, Bridge enhances the loan search process for developers by creating a digital offering memorandum and leveraging data to produce comprehensive screening materials for lenders. These tools work together to streamline and accelerate the financing journey for developers.
“This collaboration is a win-win for Choice and its hotel owners,” said Dominic Dragisich, EVP, operations/chief global brand officer, Choice Hotels International. “Helping our hoteliers obtain and optimize financing for their properties is a high priority, and this agreement with Bridge will give them access to competitive loan offerings through an easy-to-use online interface.”
Choice will promote the availability of the solution to prospective owners, with a special emphasis on hoteliers in the company’s Supporting Ownership Access and Representation (SOAR) program, which is designed to create hotel ownership opportunities for historically underrepresented entrepreneurs. Those aspiring hoteliers may be particularly impacted by financial challenges due to limited exposure to the hotel industry. Existing owners interested in refinancing or obtaining a new loan will also have access to the Bridge platform.
“We’re thrilled to partner with Choice Hotels to empower all their developers with streamlined access to capital,” said Rohit Mathur, CEO, Bridge. “Our proprietary technology not only streamlines the financing process but also offers a comprehensive deal analysis as part of the financing request—a level of insight traditionally reserved for large, established hoteliers.”
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