HOSPITALITY BUSINESS, CAPITAL RAISE AND FINANCING OPTIONS?
I wanted to get the community's thoughts on the hospitality business and opportunities to update/convert 60's era Motel stock into appealing hospitality options for today's traveler?
I am heavily involved in real estate, and in particular short-term rentals. I'm currently evaluating a 60's era motel that is no longer being used as a motel. However, all of the rooms remain in original configuration and conversion back would not be an issue. I believe for the high quality spaces I put out, there would be incredible demand for this type of product. There would be the opportunity to build direct reservations through a website/SEO, as well as utilizing platforms like Airbnb, VRBO, Booking.com, etc.
My question is, does anyone have any experience in this? Has anyone utilized an SBA loan for acquisition + renovation/upfit? Has anyone raised capital for something similar, and do you have recommendations/tips for how to structure such a deal?
Thanks in advance!