Magnuson Hotel brands to be packaged with hotel financing
October 17, 2012
Hotel owners struggling with financing have a friendly new source of capital via Magnuson Hotels, the world’s largest independent hotel group.
To mark the launch of Magnuson Hotels’ new Premier Collection brand group, hotels branded as either a Magnuson Hotel, Magnuson Grand Hotel or M Star Hotel will be eligible to quailfy for same-day financing in a hotel loan partnership with Ascentium Capital.
Hotels branded with Magnuson Hotels can access up to $250,000 via a one-page application and same-day credit approval. The Magnuson Hotel brand loans will offer 100% financing from $5,000 and up, and offer 24-72 month terms.
“Hotel owners can turn around their performance declines rapidly by packaging Magnuson’s non-franchise branding with immediate capital access,” stated Thomas Magnuson, CEO of Magnuson Worldwide. “Eliminating excessive franchise fees and regulations can increase net operating income by over 30% in the first year. The combination of renovation capital with lower operating costs will rapidly result in higher room rates and net profits.”
Ascentium Capital specializes in providing financial solutions to open new avenues for growth and profit for small businesses located nationwide. Ascentium Capital is backed by Vulcan Capital, the private investment group of Paul G. Allen, and a group of investors led by LKCM Capital Group, LLC (“LKCM”), the alternative investment vehicle for Luther King Capital Management.
About Magnuson Worldwide:
Magnuson Worldwide, headquartered in London UK and Spokane, WA is the world’s largest hotel services organisation. Magnuson Worldwide’s holdings include Global Hotel Exchange, GDS1, Magnuson Hotels, and Magnuson Marketplace.