The $250 million program is a “borrower-friendly alternative” for franchisees for four of IHG’s brands to stimulate new construction and reduce timelines.
NATIONAL REPORT — Sanat Patel, chief lending officer and co-founder at Avana Capital, has seen a lot of ebbs and flows in the lending market over the last 25 years. No matter the credit market or lending environment, he said new construction financing can be difficult to accomplish.
“Construction financing, overall, is a very challenging type of financing to do whether you’re a bank or even as private credit,” he said.
So, when Glendale, Arizona-based Avana Capital heard about an opportunity to partner with IHG Hotels & Resorts on new construction loans for franchisees, Patel said the company was intrigued.
“It’s one where it’s a win for the developer, it’s a win for the brand and it’s a win for the lender,” he said.
Read the full article: https://www.hotelinvestmenttoday.com/Financials/Financing/Why-IHG-Avana-partnered-on-construction-finance-program
This article was originally published on hotelinvestmenttoday.com. Accessed on April 3, 2025.
