{HBR_LEAD_468x60.media}

Business & Finance

Premier Capital Associates Secures Refinance for Quality Inn and Suites in Sequim, WA

BELLEVUE, WA. October 24, 2017 – Premier Capital Associates, LLC, a national, full-service real estate investment company specializing in debt and advisory services for hospitality real estate, announced today that they secured refinancing for the Quality Inn and Suites at Olympic National Park in Sequim, WA.

The total loan amount was approximately $4,600,000.

“Giving our clients the financial agility that comes from making use of available equity is the most rewarding part of our relationships. For the Quality Inn and Suites at in Sequim, that meant working closely with our funding sources to get the property the cash they wanted quickly and easily,” said Greg Morris, Managing Director of Premier Capital Associates.

Jeff McKee, Managing Director at Premier Capital Associates adds, “Competition among lenders is strong in the face of record low borrower demand and the steady availability of funds in the market. The result is lenders willing to sacrifice some of their profit margin by absorbing slight upward fluctuation in rates in an attempt to win business. Taking advantage of competition in the market could prove favorable for hoteliers considering development or property improvement, but the time to act is now.”

About Premier Capital Associates

Premier Capital Associates, LLC, located in Bellevue, Washington, is a national, full-service real estate investment company specializing in debt finance and advisory services for hospitality and other income-producing commercial real estate, with well-established national relationships. The principals bring over 35 years of commercial real estate finance experience arranging debt for construction loans, acquisition, refinancing, and reposition financing. For additional information, please contact either Jeff McKee at 425-957-0600 or Greg Morris at 425-957-0700. Or, visit the company’s Web site: www.premiercapitalassoc.com.

Coming Up In The December Online Hotel Business Review




{300x250.media}
Feature Focus
Hotel Law: Issues & Events
There is not a single area of a hotel’s operation that isn’t touched by some aspect of the law. Hotels and management companies employ an army of lawyers to advise and, if necessary, litigate issues which arise in the course of conducting their business. These lawyers typically specialize in specific areas of the law – real estate, construction, development, leasing, liability, franchising, food & beverage, human resources, environmental, insurance, taxes and more. In addition, issues and events can occur within the industry that have a major impact on the whole, and can spur further legal activity. One event which is certain to cause repercussions is Marriott International’s acquisition of Starwood Hotels and Resorts Worldwide. This newly combined company is now the largest hotel company in the world, encompassing 30 hotel brands, 5,500 hotels under management, and 1.1 million hotel rooms worldwide. In the hospitality industry, scale is particularly important – the most profitable companies are those with the most rooms in the most locations. As a result, this mega- transaction is likely to provoke an increase in Mergers & Acquisitions industry-wide. Many experts believe other larger hotel companies will now join forces with smaller operators to avoid being outpaced in the market. Companies that had not previously considered consolidation are now more likely to do so. Another legal issue facing the industry is the regulation of alternative lodging companies such as Airbnb and other firms that offer private, short-term rentals. Cities like San Francisco, Los Angeles and Santa Monica are at the forefront of efforts to legalize and control short-term rentals. However, those cities are finding it’s much easier to adopt regulations on short-term rentals than it is to actually enforce them. The December issue of Hotel Business Review will examine these and other critical issues pertaining to hotel law and how some companies are adapting to them.