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Hotel Finance – Owner of popular country house resort now able to sleep soundly at night

Our business loans are often used by seasonal businesses and a recent hotel loan was a prime example of this.  They were in need of hotel finance after experiencing a quiet Christmas period and a slow start to the tourist season for the current year.

Hotel FinanceThe owner of the popular resort, which is situated on a 70-acre estate dating back to the 14th Century, had over the last year made enquiries to find a purchaser for the hotel. A number of parties had expressed interest but due to the size of the assignment any contractual negotiations would take time and were unlikely to be concluded before the end of the summer.

How Hotel Finance helped

The company needed funds to bridge the cash flow gap for the two months starting from February. A local business advisor introduced us to the owner of the hotel and we discussed the longer term plans for the business. It was clear that whilst waiting for the bookings to begin for the spring season, there were substantial costs to pay for the ongoing maintenance of the estate and the staff.

The director was unsure as to how much hotel finance the business would require each month and so we agreed to provide a £150k funding facility with which monthly interest would only be charged on the drawn down amount. We agreed to lend this sum secured on a small part of the hotel estate, ensuring that by not obtaining security over the hotel asset itself it would not affect the offers being put forward by the interested parties. To assist with the cash flow we agreed that the loan could be repaid over eight months.

Spreading the Hotel Finance

The director drew down the loan facility in monthly stages when the funds were required within the business. The director utilised the hotel finance to fill gaps in the cash flow but was also able to finalise a long running planning issue at the hotel. The successful outcome from this planning application has resulted in the value of the hotel estate increasing significantly with extra development opportunities now being available.

Season businesses such as hotels are prime customers for our business loans. We are often able to provide business finance when your bank can’t, and as this case proves, it is easy to arrange a tailored finance package.

In the first instance, we invite you to contact us for a free, impartial and confidential consultation without any obligation. We will take the time and trouble to gain a thorough understanding of your business finance needs before making clear and considered recommendations. We can guarantee that you will find the process stress and jargon-free.

Stewart Goldsmith By Google+ |
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