Wyndham & Lafayette Square Offer Funding Solutions

Wyndham & Lafayette Square's Funding Options 

Wyndham Hotels & Resorts has partnered with the investment firm Lafayette Square to enhance capital access for diverse hoteliers. Through this exclusive relationship, Wyndham will evaluate and directly connect qualified hotel owners with Lafayette Square. The firm aims to provide up to $100 million in combined financing to hoteliers in the coming years. While not every hotelier will qualify, those who do may use the funds to advance projects that would otherwise be stalled due to a lack of traditional financing.

Lafayette Square's investment strategy addresses a critical issue that diverse hoteliers face regarding access to capital. It is the latest addition to Wyndham's BOLD (Black Owners and Lodging Developers) and Women Own the Room initiatives, which aim to support hotel ownership among Black and women entrepreneurs by tackling the unique challenges each community encounters. These initiatives provide networking and educational opportunities through the newly launched Accelerator Circle, as well as operational support and complimentary services designed to maximize revenue. Each program offers tailored solutions to assist entrepreneurs on their journey to hotel ownership. Together, BOLD and Women Own the Room have successfully facilitated over 100 hotel deals with Black and women hoteliers, and more than 20 of these hotels are now open.

"Inequities still exist within hospitality, especially when it comes to financing. Champions like Lafayette Square—who believe in our same mission—can help us bring greater representation to our industry. There are deserving, credible hoteliers who continue to face roadblocks. We're committed to using our network to not only give the keys to hotel ownership to more diverse owners but ultimately help give them the access to tools, resources and partners they need to succeed." - Galen Barrett, VP, Strategic Franchise Initiatives, Wyndham Hotels & Resorts.

"Financing is an ongoing issue—particularly for diverse hotel owners— and there's a growing need to intervene. We believe in elevating entrepreneurs who have historically not had the backing to succeed. Tapping into Wyndham's network brings us and our resources to the epicentre of hospitality, helping make hotel ownership more attainable to qualified hoteliers." - Abhay Patel, Managing Director, Lafayette Square.

Advancing Hotel Ownership

Despite a background in real estate and experience owning a hotel in Memphis, BOLD member Dr. Amina James continued to face the same challenges she had previously with banks upon exploring her next venture in Lake Charles, La., including high rates and deals that did not provide enough capital to fund her business plan. As a result, Wyndham introduced Dr. James to Lafayette Square, resulting in her becoming the first Wyndham franchisee to receive financing from the firm.

Because of Wyndham's connection to Lafayette Square, Dr. James worked out a package solution facilitating the acquisition of her second hotel, which is now open as the Wyndham Lake Charles. With the financing, Dr. James plans to upgrade the property and streamline operations with a third-party management team.

"Because of Wyndham's support, the credibility they saw in me and their connection to Lafayette Square, I can now say I own two hotels. BOLD and Women Own the Room are actively changing hospitality by forging the path – and knocking down the barriers along the way – to make hotel ownership possible. That's a vision and a mission I'm proud to be part of." - Amina James, Wyndham Franchisee and Member of BOLD by Wyndham.