San Francisco-based PKF Capital has launched PKF Capital Hotel Finance, which is designed to help hospitality investors and owners secure funds required to purchase, refinance or renovate properties.
‘Securing adequate capital is the primary issue today that determines whether a hotel deal succeeds or fails,’ says Bob Eaton, executive managing director at PKF Capital. ‘With our new program, we are moving aggressively to help our clients transact business. We are rounding out the suite of services that the PKF family of companies offers, from consulting and hospitality research through brokerage.’
Chosen to head this new program is Steve Hanover, a former principal of Sequoia Capital Partners of San Luis Obispo, Calif. Hanover will be senior managing director of PKF Capital Hotel Finance and will work with existing and new clients on debt and equity placement.
PKF Capital notes that Hanover has an extensive network of financing sources, which is required in this highly volatile funding market where lenders are under their own type of stress and may pull out of the market on short notice.
Source: PKF Capital