Choice Hotels announces Industry first financing alliance for Sleep Inn

29th Aug 2011

Choice Hotels, one of the world’s largest hotel franchisors, is the first hospitality franchisor to team up with Access Point and negotiate a formal finance program. This breakthrough partnership between Choice Hotels and Access Point Financial will focus on aiding the Sleep Inn brand implement the Designed to Dream(TM) renovation program.
Choice Hotels and Access Point will partner together to provide creative, responsive and comprehensive programs specifically designed to meet the financing needs of Sleep Inn franchisees. The initial phase of the partnership will focus on creating lending programs to facilitate renovation loans for Sleep Inn hotels. The overall goal of this program is to help Choice Hotels franchisees continue their mission of innovation and guest satisfaction at their properties across the globe.
“The recent recession made it difficult for our franchisees and hoteliers across the industry to invest capital in their hotels and to secure financing; this alliance with Access Point Financial gives us the opportunity to offer our Sleep Inn franchisees the ability to secure capital to keep their properties competitive in the marketplace,” said Stephen P. Joyce, president and chief executive officer of Choice Hotels.
When asked about the new partnership, Access Point Financial CEO Jon Wright said, “Choice Hotels selected Access Point as its partner in developing financing solutions for their franchisees for several reasons. They recognize that our industry experience and relationships enables us to reliably underwrite loans, provide high-quality loan servicing and maximize distribution opportunities in the capital markets. The timing is excellent for a financing organization like ours, and we anticipate a long and successful partnership with Choice Hotels.”
Started in 2010, the Sleep Inn Designed to Dream program competitively positions the brand in the mid-scale hotel market with nature-oriented simply stylish decor. Highlights of the Designed to Dream program include guestrooms with black-and-white nature photography and contemporary bedding with bed scarves, and a newly designed lobby with modern lighting, natural finishes, and a large accent wall.

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