2014 was an excellent year for the hospitality industry and the predictions for its continued success in 2015 are proving accurate. The UK hospitality sector is experiencing consistent growth, and both new and established businesses are finding it easier to acquire finance from lenders.
Lenders have usually exhibited willingness to finance well-structured projects and well-located acquisition opportunities. If you are interested in setting up a hospitality business or you are looking to refinance an existing establishment, you need to be aware of the specific factors that impress lenders. By showing lenders you have the qualities they are looking for, you can increase your available options.
Feasibility is a major aspect. The more feasible your project is in terms of resources, staff and industry experience, the more appealing your proposal becomes. Location also plays an important part. Lenders may not be so keen to invest in a project that is situated in a saturated location or an area that is still up and coming. If you believe the project is viable, ensure your proposal contains a detailed explanation why.
Experience does not guarantee success, but it does help a finance application. Make sure you highlight all experience that may be relevant or explain fully why you believe your venture will be a success even if you are entering the hospitality sector for the first time. If you are looking for refinancing, it is important to assess the current condition of your hotel or B&B. Lenders will typically take a look at the value of the business as an asset and its historical performance.
We assist our clients with acquiring guest house, bed and breakfast and hotel finance, searching the market to find the best possible mortgage deals. We tailor our services to suit your personal and professional needs, ensuring each proposal is specially prepared and precisely reflects your vision for the future of your business. We are an independent company and we strive to secure optimal funding solutions for each individual client involved in the hospitality and leisure industry.