EB-5 "visas-for-dollars" financing takes spotlight7 Sep, 2012
|Marriott International is using EB-5 visa financing for hotel developments in Los Angeles' LA Live complex.|
The New York Times DealBook today looks at the EB-5 visa program hotel development companies are using increasingly to finance new hotel development.
The program, which has been available since 1990, grants visas to foreign investors who sink at least $500,000 in an American business.
The article calls the program "a relatively cheap source of financing" used by companies including Marriott International, Hilton Worldwide, Hyatt Hotels and Starwood Hotels & Resorts Worldwide.
Check the Hotel Management online archives for information on more recent hotel development projects that are using EB-5 financing, including the SLS in New York City and the Courtyard by Marriott/Residence Inn by Marriott developments under way at LA Live.
Topic : Financing, EB-5
External Source : The New York Times, Hotel Management