Small Business Funding Options For Hotels, Motels & Lodging
The vast majority of hotels are seasonal businesses. Depending on the area that the hotel is located in visitors are attracted during a certain time of the year. Slow seasons can be treacherous for even very successful hotels. Hotels often have to lay off employees or postpone upgrades just to survive these slow seasons. Hotel owners are aware of this seasonality but it is still difficult to anticipate when revenue will drop or if they have enough cash to get through a few slow months.
Weather also has an impact on the amount of people visiting a certain area and is nearly unpredictable. Typical weather patterns during different seasons are not typical anymore. Hotels just do not know what to expect going into a new season.
These uncertainties make it difficult to meet the increasing standards of vacationing clientele. Hotels must have up-to-date TVs, fresh-looking furniture, and nice pools. People who are planning a vacation tend make reservations ahead of time. Without having cash during these slow times there is no way to market your hotel to clients planning their vacation.
First Premier Funding has years of experience funding Hotels, Motels & Lodging. We can provide you the funding to improve your business during these slow seasons. Contact us today at (888) 358-8484 or apply now to see how First Premier Funding can help your business grow.