DENVER-A peanut gallery of experts are debating whether or not the market has hit bottom or not, meanwhile Denver-based Hospitality Real Estate Counselors is leaping into the fray sourcing hotel loans. The hotel broker is partnering with an undisclosed opportunity fund to source hotel loans of $12 million to $35 million for select-service hotels and some full service assets. “The sweet spot will be Marriot, Hilton and Starwood branded hotels, primarily select service like Courtyard and Hilton Gardens,” explains Geoff Davis, president of HREC Investment Advisors. Their aim would strike these 125-room to 350-room brands with a non-recourse program for acquisitions, refinance and repositioning.

“The biggest problem we have in our industry right now is the availability of money,” points out Sumner Baye, president of International Hotel Network. “We’re not out of the credit squeeze yet. The lenders are not lending in the way whole hospitality industry would like.”

The capital source, Davis remarks, has a fair amount of hospitality investments and is very familiar with the hotel industry. “They understand that there will be opportunities in the next two years to do acquisitions, renovations, repositioning plays and that’s what the capital seeks to do, to refinance, take advantage of maturities, discount pay-offs, and good sponsors being able to reposition assets.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.