New Hotel Collection (NHC) today announced the completion of two major rounds of refinancing with Western Alliance Bank that will help facilitate future growth.
“This refinancing marks an important step in New Hotel Collection’s evolution, giving us a platform for continued growth,” said Tommy Del Zoppo, Founder & Chief Investment Officer for New Hotel Collection. “Western Alliance has proven to be an outstanding partner in the hospitality industry. They have a deep understanding of our business and the ability to create a financing solution that will bring tremendous long-term value to our company and its customers.”
The first facility was for the company’s flagship hotel within Harbourside Resort in Indian Rocks, Florida. The $15 million senior facility replaced a private first mortgage and provides a structure that is tailor-made for the property and its needs.
