Interstate Hotels & Resorts Announces Strategic Alliance with Hospitality Funding
ARLINGTON, Va., Jan. 14, 2016 – Interstate Hotels & Resorts – the leading U.S.-based global hotel management company – is excited to announce a strategic alliance with Palm Beach, Fla.-based Hospitality Funding, assisting Interstate’s clients with their capital market needs for hotel projects. Hospitality Funding delivers and executes at all levels and works with the most seasoned lenders on Wall Street, proving the company as an ideal match for Interstate. With this new endeavor, Interstate is leveraging its longstanding and trusted industry relationships to assist current and prospective hotel owners with securing debt for their hotel projects.
Interstate and Hospitality Funding have worked together on various debt and equity sources since 2010 and have successfully executed numerous projects, and the partnership can assist hotel owners with financing needs in acquisition financing, renovation financing, construction financing, long term financing and joint venture equity. “Interstate’s partnership with Hospitality Funding offers true added value to Interstate’s existing arsenal of services to our hotel owners, directly translating to their success,” said Leslie Ng, Interstate’s chief investment officer. “Owners now have access to a variety of financing needs, from acquisition financing to joint venture equity, making Interstate’s suite of services even more robust.”
With dynamic and accelerating capital markets across the country, the current momentum in the hospitality sector is driving an influx of capital, and investors and credit markets are focused on the strong and transparent luxury, full-service and select-service hotel markets. The current conditions present an opportune time to consider financing, and Interstate’s partnership with Hospitality Funding will help owners ultimately increase their bottom line. “Having worked with Interstate and its clients for the last five years, Hospitality Funding is excited to formally partner to assist the company’s hotel owners with financing needs,” said Scott Silver, chairman of Hospitality Funding Inc.
Hospitality Funding is headquartered in Palm Beach with offices in New York and Chicago, and is led by seasoned investment bankers Scott Silver and Steven Fischler. The firm has a wealth of experience in the debt markets and deep-rooted contacts with many of the most active hotel lenders on Wall Street. In addition to debt, the firm has the ability to source equity for various types of hotel projects, including new construction projects. Hospitality Funding boasts a strong track record, having executed over $2 billion in both debt and equity funding.
Known as the global leader in the hotel management industry, Interstate manages 430 hotels in every asset class. The Company’s comprehensive services are built on large-scale company resources, delivered with the personalized and focused attention of a small company. Including an owner-aligned organizational structure, experienced corporate support and expansive industry and global knowledge, Interstate uses the experience culminated over 55 years to contribute to each owner’s success.
About Hospitality Funding: Hospitality Funding is a boutique financial advisory firm focused on raising equity, mezzanine, and debt financing for the acquisition of all types of hospitality assets. We work with superior owners and investors to find capital solutions that fit their specific goals for property acquisitions, refinancing, and development. For more information, please visit http://www.hospitalityfunding.com.
About Interstate Hotels & Resorts: Interstate Hotels & Resorts, Inc., a wholly-owned subsidiary of a 50/50 joint venture between subsidiaries of Thayer Lodging Group and Jin Jiang Hotels, is the leading U.S.-based global hotel management company, operating branded full- and select-service hotels and resorts, convention centers and independent hotels worldwide. As of November 2015, Interstate and its affiliates manage nearly 430 hotels with over 76,500 rooms in North America, the UK, Europe, Russia and the CIS, and China, including ownership interest in 32 hotels. In addition, Interstate has executed agreements to manage 37 hotels with over 5,100 rooms under construction or development throughout the world. For more information, please visit www.interstatehotels.com. Connect with Interstate at www.linkedin.com/company/interstate-hotels-resorts, www.facebook.com/InterstateHotels, and www.interstatehotels.com/careers.