The hospitality industry is growing at a fantastic rate, generating hundreds of billions of dollars every year. Yet with growth comes renovation to bring motels and hotels up to date in order to attract more clientele and stay at mace with – or ahead of – the competition.
Wear and Tear
Unless you own a newly constructed hotel or motel, the odds are pretty good that maintenance is an ongoing effort. Basic foot traffic can do a number on floors, beds and furniture needs to be replaced over time, and the basic infrastructure that people can’t see behind the walls and in the ceiling needs regular attention to prevent leaks or fires. Making sure hotels and motels are in working order and structurally sound makes guests feel safe and can prevent severe accidents or worse from occurring.
Aesthetics and Design
In addition to staying on top of wear and tear, as well as structural integrity, come design and aesthetics. Some hotels and motels have not brought their designs into the 21st Century. Conversely, those hotels and resorts that want to maintain an aesthetic or theme from another era may need to do some restoration. Some hotels and motels are looking to pivot and attract a specific sort of clientele, such as executives or tourists, in which case fixtures, room designs, carpeting, paint, and more must be considered to update the look of the rooms and lobby.
One other aspect of running a hotel or motel is equipment. Computers, servers, luggage trolleys, workstations, and more simply age out and need to be upgraded or replaced periodically. From modest motels to grand hotels, commerce and traffic rely on good equipment, in order to accomplish tasks smoothly and seamlessly.
Funding for Hotels and Motels
Whether you are just entering the hospitality industry and want to purchase or build your first hotel or motel, or if you are updating the look of your establishment and taking on renovations, or if you need to get new equipment, Nanaki Capital can help. Nanaki Capital offers a wide range of solutions for hotel and motel financing ranging fro working capital to equipment, and even commercial real estate. We work with entrepreneurs in the hospitality industry to create financing solutions tailored to their needs, without any of the delays or red tape of traditional lending channels. Contact Nanaki Capital today to get started.