Hotel Loans

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Hotel Loans

Running a hotel requires a healthy working capital and a good amount of investment in order to keep the hotel achieving highly and continuously growing as a brand and business.

However, the current economical climate means that many hotels have had to shut their doors, simply because they do not have the funding to continue with their standard of business.

A hotel may need an extra cash boost in order to fund many different aspects of the business. This include:

  • Refurbishing and maintaining the look of bedrooms and the reception area. Your hotel depends on the standard of the bedrooms that you have and the building itself. Regular amounts of money need to be invested in the building in order to keep it looking its best. As soon as the standard of your building begins to slip, so do your customer reviews and therefore your profits.
  • Marketing and advertising costs. These can be expensive, especially if you are planning on running a big campaign to drive a lot of business. However, marketing costs are essential because they can really improve the awareness of your hotel and bring in extra clients for the future.
  • Training or retraining of staff. Another important aspect of your hotel will be the staff that works there. They need to be fully trained in all of the relevant areas of your business so that you can provide the best possible service to your customers. If you are looking to expand your team, you will need extra income in order to recruit and train these new members of staff.
  • Expansion plans for the future. Your hotel may be doing very well, but in order to grow and expand you may need to offer a second hotel location in order to grow your brand. This requires a large amount of investment.
  • Paying unexpected bills. We have all had the feeling of receiving an unexpected bill, but sometimes these more expensive bills can be crippling to a business and its working capital.

How Emerchant cash advance can help

A merchant cash advance can offer hotel business cash advance solutions which are a flexible alternative to a traditional bank loan.

The merchant cash advance gives you hotel finance that is based upon earnings in your business. There are fixed repayment fees that based upon your current revenue so you only pay back what you can afford.

This makes it flexible and easy to manage and with a simple application process, many hotels are finding it to be very beneficial for a short-term unsecured hotel loan solution.