Choice Hotels International and Bridge Team Up to Provide Hotel Owners with Access to Affordable Financing Solutions
Rhea-AI Summary
Choice Hotels International (NYSE: CHH) has announced a partnership with digital platform Bridge to provide hotel owners with streamlined access to financing solutions. Through a dedicated landing page, Choice hoteliers can submit commercial loan requests in just 10 minutes and compare rates from Bridge's network of over 100 lenders.
The platform offers various financing options including SBA, Conventional, Bridge, CPACE, and CMBS from banks, private debt lenders, and family offices. The service will be particularly promoted to participants in Choice's Supporting Ownership Access and Representation (SOAR) program, which aims to create opportunities for underrepresented entrepreneurs in hotel ownership.
Bridge's technology creates digital offering memorandums and comprehensive screening materials, accelerating the financing process for developers. The platform will be available to both new and existing Choice hotel owners seeking refinancing or new loans.
Positive
- Partnership provides Choice hotel owners access to over 100 lenders through a streamlined digital platform
- Initiative supports diversity through SOAR program, potentially expanding Choice's franchisee base
- Simplified 10-minute loan application process reduces administrative burden for hotel owners
Negative
- None.
News Market Reaction – CHH
In the trading session that priced this news, CHH gained 0.64%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Innovative platform leverages technology to digitize and optimize loan search process
Interested Choice hoteliers will be able to submit a request for a commercial loan in as little as 10 minutes via a dedicated, customized Choice Hotels landing page on the Bridge platform — a digital platform that leverages advanced technology to digitize and optimize the loan search process. Qualified borrowers will then have the opportunity to compare rates and terms from multiple lenders in Bridge's network of more than 100 lenders. The lender base encompasses a wide range of financing solutions, including SBA, Conventional, Bridge, CPACE, and CMBS options sourced from banks, private debt lenders, and direct lending from family offices. Additionally, Bridge enhances the loan search process for developers by creating a digital offering memorandum and leveraging data to produce comprehensive screening materials for lenders. These tools work together to streamline and accelerate the financing journey for developers.
"This collaboration is a win-win for Choice and its hotel owners," said Dominic Dragisich, Executive Vice President, Operations and Chief Global Brand Officer for Choice Hotels International. "Helping our hoteliers obtain and optimize financing for their properties is a high priority, and this agreement with Bridge will give them access to competitive loan offerings through an easy-to-use online interface."
Choice will promote the availability of the Bridge solution to prospective owners, with a special emphasis on hoteliers in the company's Supporting Ownership Access and Representation (SOAR) program, which is designed to create hotel ownership opportunities for historically underrepresented entrepreneurs. Those aspiring hoteliers may be particularly impacted by financial challenges due to limited exposure to the hotel industry. Existing owners interested in refinancing or obtaining a new loan will also have access to the Bridge platform.
"We're thrilled to partner with Choice Hotels to empower all their developers with streamlined access to capital," said Rohit Mathur, CEO of Bridge. "Our proprietary technology not only streamlines the financing process but also offers a comprehensive deal analysis as part of the financing request—a level of insight traditionally reserved for large, established hoteliers."
About Choice Hotels®
Choice Hotels International, Inc. (NYSE: CHH), is one of the largest lodging franchisors in the world. The one to watch in upscale and a leader in midscale and extended stay, Choice® has over 7,500 hotels, representing nearly 635,000 rooms, in 45 countries and territories. A diverse portfolio of 22 brands that range from full-service upper upscale properties to midscale, extended stay and economy enables Choice® to meet travelers' needs in more places and for more occasions while driving more value for franchise owners and shareholders. The award-winning Choice Privileges® rewards program and co-brand credit card options provide members with a fast and easy way to earn reward nights and personalized perks. For more information, visit www.choicehotels.com.
About Bridge
Bridge is a technology-driven financial platform transforming how hospitality developers and suppliers access capital. As a leader in Hospitality CRE and Supplier Financing, Bridge delivers fast, transparent, and tailored funding solutions by combining cutting-edge technology with industry expertise. By streamlining the financing process, Bridge enables developers and suppliers to focus on growth and innovation. Bridge has established partnerships with leading corporations, including Choice Hotels, Hilton, Walmart, Best Buy, Dollar General and Chipotle, to support franchisees and suppliers nationwide. Backed by TTV Capital, Citi Ventures, FinCap, Correlation Ventures, and US Bank Ventures, Bridge is committed to driving value and unlocking new opportunities for its clients. Learn more at bridgemarketplace.com and follow them at https://www.linkedin.com/company/bridgemarketplace/
View original content to download multimedia:https://www.prnewswire.com/news-releases/choice-hotels-international-and-bridge-team-up-to-provide-hotel-owners-with-access-to-affordable-financing-solutions-302361798.html
SOURCE Choice Hotels International, Inc.