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AAHOA 2018 update

By Ramin Mostaan


This year at AAHOA tradeshow I had more inquiries than the previous years. I also felt that it was the largest AAHOA tradeshow in terms of the number of the attending vendors and the hoteliers that I can personally remember. My report indicates that nearly nine out of ten inquiries were for a new construction loan and the remaining was either for a conventional refinance out of an SBA loan or for an acquisition of a new hotel. The SBA and the USDA world has not changed as much and we still are financing acquisitions, refinances, and construction through these programs and I did not have as much inquiry on these programs. CMBS loans got fairly conservative by the end of last year but slightly more aggressive now and again the inquiries were limited. I then discuss the two subjects mostly inquired at the show, the construction and the conventional loans.


Construction

In the past few years, the lenders have funded many hotel construction loans under the SBA/USDA and the conventional programs facing concentration on hotels in their portfolios. However, I believe that if a project has strong sponsorship and the requested terms are reasonable, we will find funding for it. Most inquiries at the show were on the following topics:

Conventional

With the rates hikes expected to continue and the PRIME index now at 4.75%  probably reaching 5% or 5.25% by the end of this year, many hoteliers with an SBA loan having adjustable rate are seeking to refinance to a conventional loan. The following refers to some of the topics brought up during the inquiries at the show on conventional loans:






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