Wells Fargo Corporate Banking, part of Wells Fargo & Co., has formed a new Hotel Franchise Finance division.
The division will provide real estate financing to multi-unit owners and operators of franchised hotels in the select-service and extended-stay segments, and will be overseen by Scott Andrews, a 17-year banking veteran of the hotel financing industry.
Among the services offered under the Hotel Franchise Finance division are: fixed- and floating-rate real estate secured term loans, treasury management, interest rate risk management, insurance, private banking, capital markets and advisory services, and payroll services.
“This team will complement our already existing and highly successful Hospitality Finance Group within Wells Fargo Commercial Real Estate to provide financial solutions to serve the broader hotel industry,” said Nick Cole, head of Wells Fargo's Restaurant Finance and Gaming division in Wells Fargo Corporate Banking.
