Shaner Hospitality completes hotel investment in Massachusetts

Financial services firm Shaner Hospitality Finance recently completed an $8.25-million investment in the Southbridge Hotel & Conference Center in Southbridge, Mass. Shaner Hospitality Finance purchased the existing mezzanine facility and provided additional funds to resize the capital structure and pay down debt.

The investment represents the first completed financing transaction since the hospitality finance company was formed with a $100-million initial capitalization in June 2013.

“With more than four decades of hospitality industry experience and more than $1 billion invested in hotel properties around the U.S. and abroad, we believe there is significant demand for flexible financing that provides a comprehensive understanding of the industry and financing expertise from an owners’ perspective, said Matthew Raptosh, director of Shaner Hospitality Finance. He said that hotels that have financing needs must be well-located within their markets and possess reasonable barriers to entry, diversified demand generators and multiple demand segments in corporate, group and leisure. “There are a significant number of quality hotel companies that with adequate funding and restructuring of their capital can thrive in their markets.”

Suggested Articles

This week's employment roundup features 11 hirings and promotions.

This roundup features details on 15 new properties operating in the United States.

The survey is open to all multiunit hotel ownership and development companies. Results will be published in the October issue of Hotel Management.