Innovative platform leverages
technology to digitize and optimize loan search process
NORTH
BETHESDA, Md., Jan. 28,
2025 /PRNewswire/ -- Choice Hotels International,
Inc. (NYSE: CHH), one of the world's leading lodging
franchisors, is teaming up with the innovative digital platform
Bridge to help provide new and existing Choice hotel owners
with access to affordable financing solutions.
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/
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SOURCE Choice Hotels International, Inc.