There are over 54,200 hotels employing an estimated 2.3 million hospitality job workers in the US. The hospitality industry’s projected market volume is $450,000m by 2025. However, hotel failure is also common, with around 60% of new restaurants closing within the first year and nearly 80% closing before 5 years. These businesses can go through their highs and lows, with some seasons bringing in max bookings and others where business can be slow. In slower times, hospitality businesses will still have to cover costs such as:
Hotel expenses can be overwhelming without the right help. Opportunity Business Loans can help you find the best deal when it comes to financing your hospitality business. Secure your loan without the hassle of visiting multiple banks and lenders. With just one quick application, you can get connected to a large network of lenders who can provide you with the funding you need to successfully grow and operate your restaurant.
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