Interstate Hotels & Resorts in Arlington, Va., has formed a partnership with Hospitality Funding to provide financing for hotel development projects.
In the new agreement, Interstate will be able to assist current and prospective hotel owners with acquisition financing, renovation financing, construction financing and joint venture equity.
"Owners now have access to a variety of financing needs, from acquisition financing to joint venture equity, making Interstate's suite of services even more robust," Leslie Ng, chief investment officer at Interstate, said in a news release.
Interstate and Hospitality Funding, in Palm Beach, Fla., have partnered on debt and equity projects since 2010.
