The hotel industry among others has felt the greatest negative impact of the COVID-19 crisis. Unfortunately, the economic uncertainties are still ahead. If you need financing for your hotel business, this article will help you with some hotel financing options during COVID-19. Hotel Financing Options During COVID-19 The decision to close hotels and several other businesses has brought a disruptive effect of the travel ecosystem. So, the tourism industry worldwide has been hurt a lot. The Federal Reserve has recently lowered the interest rates to a significant extent, and the prime rate was 3.25% as of March 20, 2020. This […]

Regardless of your type of activity, there’s that time of the year when your sales are not too good. If you’re in the hotel industry, for example, you’ll enjoy a pleasant influx of clients in the summer and the holiday season. During the cold January winter, however, your sales are bound to plummet. And regardless of how much you dial down expenses, the hotel will still need to be kept running. The off-peak period can be tough for unprepared businesses. To ensure you brave through the storm, make use of the rest of the year to plan ahead. The following […]