WYNDHAM HOTELS & RESORTS and investment firm Lafayette Square, led by Abhay Patel as managing director, recently launched a funding program to improve capital access for diverse hoteliers. The new program will support Wyndham’s BOLD and Women Own the Room initiatives.
Wyndham will work with Lafayette Square to connect qualified owners, aiming to provide up to $100 million in financing over the coming years. While not all will qualify, eligible hoteliers can use the funds to advance projects stalled by limited financing, the companies said in a joint statement.
Amina James, a Wyndham franchisee and BOLD by Wyndham member, is the first hotelier to receive funding for her Wyndham hotel in Lake Charles, Louisiana.
“Because of Wyndham’s support, the credibility they saw in me, and their connection to Lafayette Square, I can now say I own two hotels,” said James. “BOLD and Women Own the Room are actively changing hospitality by forging the path—and knocking down the barriers along the way—to make hotel ownership possible. That’s a vision and a mission I’m proud to be part of.”
Despite her real estate background and experience owning a hotel in Memphis, James faced the same banking challenges when exploring her next venture in Lake Charles, Louisiana, including high rates and insufficient capital. Wyndham connected her with Lafayette Square, making James the first Wyndham franchisee to receive financing from the firm. She plans to use the financing to upgrade the Wyndham Lake Charles property and streamline operations with a third-party management team.
“Inequities still exist within hospitality, especially when it comes to financing. Champions like Lafayette Square—who share our mission—can help us bring greater representation to our industry,” said Galen Barrett, Wyndham’s vice president of strategic franchise initiatives. “Deserving, credible hoteliers still face roadblocks, and we’re committed to using our network to not only give the keys to hotel ownership to more diverse owners, but also provide the tools, resources, and partners they need to succeed.”
New York-based Lafayette Square’s investment strategy addresses a key barrier diverse hoteliers face in accessing capital and supports Wyndham’s BOLD and Women Own the Room initiatives, which promote hotel ownership among Black and women entrepreneurs by addressing their unique challenges.
“Financing is an ongoing issue—particularly for diverse hotel owners—and there’s a growing need to intervene,” said Patel. “Tapping into Wyndham’s network brings us and our resources to the heart of hospitality, helping make hotel ownership more attainable for qualified hoteliers.”
Wyndham’s newly launched Accelerator Circle provides networking, education, operational support, and complimentary services to help hoteliers maximize revenue and pursue ownership, the statement said. BOLD by Wyndham and Women Own the Room have facilitated over 100 hotel deals with Black and women hoteliers, more than 20 of which are now open.
Wyndham reported a 4 percent year-over-year increase in global systemwide rooms in the third quarter, with 1 percent growth in the U.S. and 8 percent internationally.
