Boutique Hotel lender criteria
Before boutique hotel lenders give you money they look at several things including but not limited to:
Is the hotel new or is the building being renovated?
What will its operating costs be?
What kind of profit are the owners expecting?
Where will it be located?
Like the real estate market when you buy your home, lenders want your business. Each lender will work to get you the best deal while getting something in return for themselves and their company. Remember, that looking for a lender can be difficult so you can always hire an agency to do the looking for you. If you are new to the market, this may be best.