Shaner Hospitality Finance Invests In Southbridge Hotel & Conference Center
Monday March 24th, 2014 - 1:39PM W
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SOUTHBRIDGE, MA—Shaner Hospitality Finance, a hospitality financial services firm, has completed an $8.25 million investment in the Southbridge Hotel & Conference Center here.
Shaner purchased the existing mezzanine facility and provided additional funds to resize the capital structure and pay down debt. The investment represents the first completed financing transaction since the hospitality finance company was formed with a $100 million initial capitalization in June 2013.
The hotel features a 24,000 square foot conference center facility and 203 guestrooms, a dining room, extensive banquet facilities, a fitness center and a number of recreational offerings.
Tags: SouthBridge Hotel • mezzanine financing • Hospitality •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.