Tapping AVANA for a co-lending program, IHG hopes to spark American hotel growth.
HG Hotels & Resorts is working with a new partner on a co-lending construction program to spur hotel development for the brand company.
The new initiative with Glendale, Arizona-based asset management platform AVANA Companies provides an alternative, “borrower-friendly” financing option for hotel owners and developers who can apply for these loans.
AVANA and IHG are reportedly committing $250 million to these construction projects in the United States, focusing on the Even Hotels, Avid Hotels, Atwell Suites and Holiday Inn brands, according to a news release from AVANA.
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