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 The Best Hotel Resource for all
your financing needs | |  | | | BHR Capital | |
BHR Capital (BHRC) is an exclusive financing service for the franchisees of the InterContinental Hotels Group System.
For all hotel financing needs, BHRC can get the most competitive terms and conditions available for qualified owners by coordinating with third-party funding sources and matching the specific funding need with the lender best suited to fill that need. BHRC offers a full complement of financial products to help the investors in our brands maintain superior hotel properties that create guest preference and deliver superior financial returns.
These comprehensive financial products are exceptionally competitive and include but are not limited to the following...
| |  | | | | Small Ticket Leasing for Furniture, Fixtures and Equipment (FF&E) and SRD
| | - From $10,000 to $250,000
- 100% financing of FF&E purchases
- "Soft costs" up to 100% of total cost
- Fast credit approval
- Terms from 3 to 5 years
- No points or fees
- Fixed rates
- View Program Terms
| | | Large Ticket Financing for FF&E, SRD, PIP's and Conversions
| | - From $250,000 to $10,000,000
- 100% financing of FF&E and property improvements
- "Soft costs" and property improvements up to 25% of total cost
- Terms from 3 years to 10 years
- No points or fees
- Fixed rate or variable rate
- Structures available to accommodate properties with conduit mortgage loans
- View Program Terms
| | | Property Management System (PMS) Financing
| | - From $10,000 to $300,000
- 100% financing
- Terms from 2 years to 7 years
- No points or fees
- Fixed rate
- Leases or Conditional Sale Agreements
- Technology upgrades financed
- View Program Details
| | | New Hotels-Permanent Loan/Forward Commitment
| | - Up to 70% loan to cost
- Forward commitment - funding upon Certificate of Occupancy
- 10 year term with 20 year amortization (InterContinental Hotels Group property)
- 1 point origination fee
- Prepayment permitted
- Program Terms:
| | | Construction Loan Program Tied to Take-Out
| | | Refinance, Acquisition, Conversion Loan Programs
| | - Up to 75% of appraised value
- 10 year term with up to 20 year amortization
- 1 point origination fee (InterContinental Hotels Group property)
- Prepayment permitted
- Program Terms:
| | | Portfolio Refinance Program
| | - Refinance entire portfolio of properties
- Frees up bank lines
- Very favorable rates, terms and conditions
- InterContinental Hotels GroupSM Hotels and non-InterContinental Hotels GroupSM Hotels properties
- Program Terms:
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Each of these options has certain advantages and can be discussed with your BHRC representative. The limit on the amount of financing available to you is based on your credit worthiness.
Questions on any of these programs? bhrcapital@ichotelsgroup.com
| | Credit Criteria | | | Depending on the size of your transaction, the following additional information may be required to process your request.
| | - Completed Credit Application signed by company representative
- Last 2 - 3 years financial statements on the hotel including balance sheets, income statements, accountant's letters and footnotes (as available)
- Current year interim financial statement and monthly occupancy, rack rate, and ADRs for the trailing 12 months
- Detailed project cost breakdown (at least by category)
- Personal financial statements - dated and signed - on principals
- Last 2 years federal tax returns with complete schedules on principals
- Last 2 years tax returns and standard hotel operating statistics on other hotels in which you have an ownership interest
- Latest appraisal report if available; otherwise, information about the trade area and history of subject hotel/motel
- Debt schedule
- Proforma income and cash flow statement for at least the next 3 - 5 full fiscal years
- Details on other lodging properties in which you have an interest or are in the process of developing, including 2 years financial statements and standard hotel operating statistics
- Principal's background summary or resume
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After receiving all the required information, we can make a credit decision within 1 hour - 15 business days depending on the size and complexity of the transaction.
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| | Rates | | | Comparison of Key Rates | APRIL, 2003 | MAY, 2003 | JUNE, 2003 | | | | | | | Government Rates: | | | | | (Note that these are sample mid-month government rates – actual government rates used by BHR Capital® are updated each Monday) | | Prime Rate | 4.25% | 4.25% | 4.25% | | LIBOR – 30 Day | 1.31% | 1.31% | 1.32% | | 5 Year Treasuries | 2.91% | 2.58% | 2.20% | | 10 Year Treasuries | 3.95% | 3.63% | 3.29% | | 10 Year Swap | 4.38% | 3.97% | 3.64% | | | | | | | BHRC Rates: | | | | | | | | | | FF&E/PIP/Modernization | | | | | $10K - $25K | 13.00% | 13.00% | 13.00% | | $25K - $75K | 10.95 – 13.00%* | 9.50 – 13.00%* | 9.50 – 13.00%* | | $75K - $250K | 10.00 – 11.50%* | 8.50 – 11.50%* | 8.50 – 11.50%* | | $250K - $1MM | | | | | Variable | LIBOR + 460 Basis Points (4.6%) | | Fixed | 5 Year Treasuries + 460 Basis Points (4.6%) | | $1MM + | | | | | Variable | LIBOR + 450 Basis Points (4.5%) | | Fixed | 5 Year Treasuries + 450 Basis Points (4.5%) | | | | | | | Property Management System | | | | | $10K - $25K | 13.00% | 13.00% | 13.00% | | $25K+ | 10.40 – 13.00%* | 8.50% - 13.00%* | 8.50% - 13.00%* | | | | | | | Refinance, Acquisition, Conversion | | | | | (90 days) | | | | | Variable | LIBOR + 300 to 400 Basis Points (3.00 - 4.00%, 5.5% Floor) | | Fixed | 10 Year Swap + 300 to 400 Basis Points (3.00 – 4.00%) | | | | | | | Construction Loan Tied to Take-Out | PRIME + 100 to 200 Basis Points (1.00 – 2.00%) | | | | | | | New Hotels – Permanent Loan/ | | | | | Forward Commitment | | | | | Variable | LIBOR + 300 to 400 Basis Points (3.00 - 4.00%, 5.5% Floor) | | Fixed | 10 Year Swap + 300 to 400 Basis Points (3.00 – 4.00%) | | * varies with term, credit, and percentage of soft costs | | | | | How to Get StartedArranging an equipment lease or financing is fast and easy through BHRC.
If you are applying for an equipment lease, with each approved application, we will send you our simple master lease document for your signature. After you select your vendor(s) we will contact them to arrange for issuance of our purchase orders guaranteeing payment and to arrange for future payment. All vendors are usually paid within three days.
If you are applying for financing or a loan, or have specific questions, call toll free 1-877-GET-BHRC to discuss your situation with your BHRC representative and determine which financing option is best for your particular need. An application, proposal, and/or information letter will be sent to you or click below to apply online.
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You select the project or the equipment. BHR Capital provides the financing.
| | | | | BHR Capital®
Suite 100
Three Ravinia Drive
Atlanta, GA 30346-2149
770-604-5400
877-438-2472 (Toll Free)
770-604-8639 (Fax)
E-mail: bhrcapital@ichotelsgroup.com
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All financing subject to credit qualification; conditions and restrictions apply. All programs, terms, and conditions subject to termination or change without notice. BHR Capital® is a registered trademark of Six Continents Hotels, Inc. ("SCH"), a member of the InterContinental Hotels Group, but operated exclusively by FS Capital, LLC, which is not affiliated with SCH or any of its affiliates, nor is any lender or lessor in connection with this program affiliated with SCH or any of its affiliates.
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