Wyndham and Lafayette Ink Deal to Aid Diverse Franchisees

Wyndham Hotels & Resorts and investment firm Lafayette Square have joined forces to improve access to capital for diverse hotel owners. Through this partnership, Wyndham will vet and directly connect eligible owners with Lafayette Square, which intends to provide up to $100 million in combined financing over the coming years to help hoteliers advance otherwise stalled projects.

This strategy by Lafayette Square addresses the critical issue of capital access faced by diverse hoteliers. The initiative extends Wyndham’s BOLD (Black Owners and Lodging Developers) and Women Own the Room programs. These initiatives aim to increase hotel ownership among Black and women entrepreneurs by tackling their unique challenges. These programs have so far resulted in more than 100 hotel deals with Black and women hoteliers, with over 20 of these hotels now open.

Both Wyndham and Lafayette Square are committed to enhancing representation within the hotel industry. They are dedicated to using their networks to increase diverse hotel ownership and provide diverse owners with the necessary tools, resources, and partners for success.

The partnership has already resulted in its first deal with Dr. Amina James. Despite her background in real estate and experience owning a hotel in Memphis, Dr. James faced challenges with banks when exploring her next venture in Lake Charles, Louisiana. Wyndham introduced Dr. James to Lafayette Square, making her the first Wyndham franchisee to receive financing from the firm. This financing will help Dr. James upgrade her second hotel, which is now the Wyndham Lake Charles, and streamline operations with a third-party management team.