COVID19: Financing Your Hotel Equipment During a Pandemic

As July approaches we can’t wait to finally start traveling, staying in our favorite hotels, and getting back to the new normal. Hotels and hospitality chains will start to resurface and open again with precaution of COVID19 and restrictions are becoming part of our daily routine, most companies are deciding to hold off on big financial projects and decisions until 2021 possibly even 2022. As an equipment leasing finance partner we are here to help you navigate these decisions and walk you through the entire process.

Hotels and hospitality chains are having to rethink the configuration of gyms, bars/restaurants, spas, and other misc. items on their properties. However, with the shelter at home in place we have seen hotel chains have intense innovations to weather this storm that is COVID19. The hotel industry is very resilient and we should start to see more keyless operations, higher cleaning and sanitation standards, and “roomier” hotel layouts. With these changes comes big questions about how to obtain everything your hotel needs to be up to code for guests to feel comfortable as we start traveling again.

TEQlease Hospitality Equipment Finance provides new up to date equipment for hotels. TEQlease Hospitality Equipment Finance can provide financing for new wireless infrastructure, software equipment, IT equipment and more to any hotel across the U.S. Contact us at 818-222-1006 or marketing@teqlease.com for a detailed financing quote suitable to your hotel needs.

Intel and Sinclair Holdings Will Open First All- Digital Hotel

Intel and Sinclair Holdings LLC have partnered together creating the world’s first all-digital hotel in Fort Worth, Texas. The Sinclair, Autograph Collection was built with the intention of creating a greener and personable hospitality environment at the touch of a smartphone. Referred to as the “High Tech Hotel of the Future” Sinclair Holding uses Intel Internet of Things (IoT) technology to provide customized settings to each room using the Marriott app on your smartphone device. Guests can adjust bathroom and bedroom light settings, window curtains, and room or shower temperature tailored to personal preference. Intel IoT technology is integrated in smart features, reservation systems, point of sale systems, networking infrastructure, guest services, and mobile key and wireless charging throughout The Sinclair Hotel.

Joe Jensen, Intel Vice President stated “Our collaboration with The Sinclair is one of a growing number of examples how IoT technology is making building smarter and allowing hospitality providers to build richer, more personalized and powerful experiences for guests and associates.” IoT systems provide an opportunity to increase customer service satisfaction, allowing hotel staff to manage guest reservations and connect to management software anywhere
within the hotel using a mobile device. In an effort to go green, The Sinclair is the first hotel to power itself. Guests staying at The Sinclair can opt in for 20 minutes or more of cardio workouts to generate power throughout the hotel. Establishing the Sinclair as one of the most ecofriendly properties in the world. Farrukh Aslum CEO and President of Sinclair Holdings aims to utilize Intel’s IoT technology in the future of the hospitality industry. Aslum conveyed “By using the latest connected technology from Intel and our other partners, we can offer guests the absolute best experience from the moment they walk through the door.” Sinclair Holdings LLC aims to input digital aspects into future hotels, in the hopes of improving hospitality environments. Guests will soon have the ability to pre-set room customizations using the Marriott app before checking into future rooms at hotels. IoT technology will continue to become integrated with hotels around the world, providing each guest with a personable and positive hotel experience.

As hotels look to expand and digitalize the future of the hospitality industry, TEQlease Hospitality Equipment Finance provides new up to date equipment for hotels. TEQlease Hospitality Equipment Finance can provide financing for new wireless infrastructure, software equipment, IT equipment and more to any hotel across the U.S. Contact us at 818-222-1006 or email us at Hreth@teqlease.com for a detailed financing quote suitable to your hotel needs.

What can TEQlease Hospitality Equipment Finance do for you?

TEQlease Hospitality Equipment Finance provides equipment financing and leasing for your hospitality needs. Give your guests the hotel experience they deserve with new equipment. TEQlease Hospitality Equipment Finance also has pre- approved financing to all Marriott Brand Hotels throughout the U.S and Caribbean. As hotels look to improve guest experiences with new equipment, we can provide funding for:

  • Beds
  • Fitness Equipment
  • Golf Carts
  • Lounge Chairs
  • Phone Systems
  • Wireless Infrastructure
  • Tables
  • Vans/Trucks
  • Restaurant Equipment
  • Security Systems
  • Software
  • HVAC Systems
  • And more!

We also offer deferred payment programs, annual or monthly payments, and we can tailor a customized finance structure for your hotel. Provide your hotel with up to date equipment: Contact Henry Reth for a detailed financing quote and analysis of your customized lease finance structure. Give us a call for a free quote at 818-222-1006 or contact us by email at hreth@teqlease.com.

Equipment Lease Financing & Project Management in the Hospitality Industry

“If you own or operate a hotel for any significant length of time,
you will likely have to replace some of your building’s core MEP and HVAC equipment.”

So begins an excellent article about Project Management in the hospitality industry.  You can read the full article here.

The only thing that this article doesn’t mention is how to best pay for a project.  That’s where a company like TEQlease comes in.  We have a wide ranch of experience financing equipment related projects, including financing components that many other companies won’t, including a variety of ‘soft’ costs.

If your hotel is looking to upgrade technology or acquire any new equipment, lease financing may be the right option.  Lease financing not only allows hotels to spread out the acquisition costs of the equipment, but it may also provide tax advantages, protection from obsolescence, and improved cash flow.  To learn more visit us at www.teqlease.com or click here to set up a time to talk and get a no obligation lease financing consultation.

About TEQlease
TEQlease Capital is a nationwide provider of equipment lease financing solutions across all industries.  In the hospitality industry, TEQlease Hospitality Equipment Finance provides lease solutions for golf equipment, fitness equipment, restaurant equipment, telephony, media equipment, television solutions, IT infrastructure, wireless solutions and more.

Strong Hospitality Growth in April and May

After a rough first quarter, the US economy is showing positive signs so far in Q2.  The hotel industry also showed a rebound in April and May after a sluggish start to the year.

According to Hotel News Now, the hotel industry saw growth in both occupancy and rate, and this contributed to making April the strongest month of the year so far for revenue-per- available-room growth.  Consumer spending also reached its highest level since August 2009.  With continued strong numbers into the end of May, many industry experts are projecting a prosperous summer for the hotel industry.

If your hotel is thinking about purchasing equipment, now is the time to buy and consider financing.  Hotel owners are taking advantage of the strong industry numbers and conserving their capital through financing in order to maximize the amount of equipment they can acquire.  This coupled with relatively low interest rates, makes it the ideal time to buy.  As evidenced by the December interest rate increase, we are now officially in an economic environment with rising interest rates.  The longer you wait to buy, the more expensive financing becomes.  It is important to lock in your rate before they increase again. Continue reading “Strong Hospitality Growth in April and May”

Industry Leaders Say Now Is The Time To Acquire New Equipment For Your Hotel

At this year’s Hunter Hotel Conference, “Hotel News Now” asked eight hotel executives what hotel owners should concentrate on this year.  The executives said that now is the time for hotel owners to invest in their properties, in the form of upgraded technology, facilities, furniture, and any equipment a hotel needs to improve their property and build customer experience and loyalty.

TEQlease Capital helps hotels acquire needed equipment by providing customized lease financing solutions.  Some examples are below.  But first, here is what two of the executives had to say.

Elie Maalouf CEO, The Americas, InterContinental Hotels Group

“I think it’s a really good time to focus on your properties. I think it’s a good time to understand what the focused investments (are), the key strategic investments you can make in your properties to put yourself in a position for when things might slow down a little bit and you want to be in a strong share position. What are the technology investments you want to make? What are the renovation investments you want to make right now while costs are still pretty good?”

Steve Joyce President and CEO, Choice Hotels International

“Make investments now because at some point, things will slow down to a much more normal rate. Get your projects done and open into 2018. If you’re going to invest in your property, do it before the end of 2018, and we’ll see what happens.”

Read what the rest of the executives said here

TEQlease Capital Provides Financing to Starpass Resort & Spa for Golf Course Maintenance Equipment

If your hotel is looking to upgrade or acquire new equipment, visit us at www.teqlease.com or click here to set up a time to talk and get a no obligation lease financing consultation.

TEQlease Capital is a nationwide provider of equipment lease financing solutions across all industries.  In the hospitality industry, TEQlease Capital provides lease solutions for golf equipment, fitness equipment, restaurant equipment, telephony, media equipment, television solutions, IT infrastructure, wireless solutions and more.

 

The Hospitality Industry & the Internet

One of the few things almost everyone agrees with is this: The Internet has changed the way business gets done.  And it’s certainly true in the hospitality industry.

On-line reservation systems have been around for a long time.  More recently, sites like TripAdvisor and Yelp have changed the way customers gather information and make decisions about travel.  Now there’s a new concept people are referring to as the “Internet of Things” or IoT.

Hospitality Internet

IoT is all about collecting information from sensors, devices and other sources and using that information intelligently.  For an idea about how this is being used in the Hospitality industry, click here.

In the Hospitality industry, it’s all about improving the customer experience and IoT can be a great way to do that.  Imagine letting a resort customer order food by the pool using their tablet.  Or being able to recognize when they are coming back to the room and adjusting the temperature accordingly.  And why make them carry a room key when they can use their phone? Continue reading “The Hospitality Industry & the Internet”