Wyndham’s new financing option for diverse developers

PARSIPPANY, N.J. – Wyndham Hotels & Resorts has teamed up with investment firm Lafayette Square to provide diverse hotel developers with up to $100 million in combined financing from the firm over the coming years.

Wyndham will vet and directly connect qualified owners with Lafayette Square to access funds and move forward with hotel projects that could otherwise stall due to lack of traditional financing.

This marks Wyndham’s latest component of BOLD (Black Owners and Lodging Developers) and Women Own the Room initiatives, which aim to bolster hotel ownership by Black and women entrepreneurs by addressing the unique challenges faced by each community. Together, BOLD and Women Own the Room have resulted in more than 100 hotel deals with Black and women hoteliers, of which more than 20 are now open.

The first developer to receive financing from Lafayette Square was Dr. Amina James, who worked out a package solution facilitating the acquisition of her second hotel, which is now open as the Wyndham Lake Charles in Louisiana. With the financing, Dr. James plans to upgrade the property and streamline operations with a third-party management team.

“Inequities still exist within hospitality, especially when it comes to financing,” said Galen Barrett, vice president, Strategic Franchise Initiatives for Wyndham. “Champions like Lafayette Square – who believe in our same mission – can help us bring greater representation to our industry. There are deserving, credible hoteliers that continue to face roadblocks, and we’re committed to using our network to not only give the keys to hotel ownership to more diverse owners, but ultimately help give them the access to tools, resources and partners they need to succeed.”

Abhay Patel, managing director, Lafayette Square, added, “Financing is an ongoing issue—particularly for diverse hotel owners— and there’s a growing need to intervene. We believe in elevating entrepreneurs who have historically not had the backing to succeed. Tapping into Wyndham’s network brings us and our resources to the epicenter of hospitality, helping make hotel ownership more attainable to qualified hoteliers.”