Direct Capital Projects Significant Growth In Hospitality Financing
Direct Capital sees major growth ahead in hospitality financing and the hotel industry in 2013.
Portsmouth, New Hampshire (PRWEB) February 04, 2013 - Direct Capital, a leading direct lender in the hospitality market said it expects to see strong 2013 demand for financing from hotel owners as they continue to upgrade furniture, fixtures and equipment to meet corporate and consumer brand expectations.
“We’ve been attending hospitality-focused events across the country and it is very apparent that hotel owners are eager to invest in their properties,” said Direct Capital Vice President Matthew Goyette. Goyette shared his comments after recently attending the Choice Hotels International Sales & Service meetings in Baltimore, MD. “Demand is looking very solid this year and we expect to see heavy increases in the need for financing.”
That message was echoed in a recent report by STR, the hotel industry data provider for North America. In its most recent forecast, STR said the U.S. hotel industry expects to see performance increases during 2013 and 2014. Overall, in 2013 occupancy is expected to rise to 61.9 percent, according to the STR.
Choice Hotels, one of the world’s largest hotel franchisors, is encouraging their licensees to invest in their properties, and has aligned with Direct Capital as a Qualified Vendor, to finance various upgrades including point of sale, signage, TVs, mattresses and larger projects including repositioning, relicensing and conversions.
“There is a resurgent need for the completion of property improvement plans and greater enforcement of brand standards as hotel demand increases and hotel owners are tasked with maintaining the quality of their assets and the integrity of the brand,” said Rick Summa, Vice President, Procurement Services for Choice Hotels International.
Direct Capital has backed its financing commitment to Choice Hotels with a simple online finance process supported by LendEdge®. Choice Hotels licensees can now access a single online finance platform to expedite the entire finance process from start to finish; https://choice.lendedge.com.
“Direct Capital has the capital and experience to assist franchisees in their various initiatives,” said Goyette. “There is no better time to invest in their properties than right now. Our capital and simple finance process will arm owners with the tools they need to support ongoing property improvements.”
About Direct Capital
Established in 1993, Direct Capital provides financing for small- to mid-ticket equipment, franchise remodels and technology purchases, working capital, and business loans. The company is headquartered in Portsmouth, N.H. and operates offices in New York, California, and Georgia. You can follow Direct Capital on Twitter at http://twitter.com/DirectCapital or subscribe to its PointBlank blog at http://blog.directcapital.com/.
About Choice Hotels
Choice Hotels International, Inc. franchises approximately 6,200 hotels, representing more than 495,000 rooms, in the United States and more than 30 other countries and territories. As of September 30, 2012, 360 hotels, representing 29,000 rooms, were under construction, awaiting conversion or approved for development in the United States. Additionally, 75 hotels, representing approximately 7,000 rooms, were under construction, awaiting conversion or approved for development in more than 20 other countries and territories. The company's Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria Suites, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge and Rodeway Inn brands, as well as its Ascend Hotel Collection membership program, serve guests worldwide. Additional corporate information may be found on the Choice Hotels International, Inc. website, which may be accessed at http://www.choicehotels.com.