Sometimes, we all need to take a break or a holiday from our fast-paced life and work. Some might prefer to travel while some might prefer staycations or quick getaways. No matter the choice, they will need to stay at a hotel or at a resort. If their budget allows, luxurious hotels and resorts.
With Singapore being a popular tourist destination and a competitive business environment, millions of visitors drop by Singapore annually. This creates a large and profitable market.
Facing the numerous competitors, it is difficult to get tourists to choose your business if you’re not a popular brand or part of a popular worldwide franchise. You need to remain competitive by offering tip-top hospitality and by upgrading your facilities consistently.
SBL Singapore understands that having good advertising and good facilities are key to a successful hotel or tourism business. People choose resorts for their entertainment amenities, lifestyle hotels to share accommodation with others who share their interests, and pod hotels to get a few hours of rest before moving on with their day.
A few years ago, Mr Jeremy Ong had come to us at SBL Singapore with a unique business plan. He owned a small building in Singapore where he wanted to build a pod hotel. Mr Ong needed money for a complete refurbishment, and to buy the best mattresses on the market because he wanted his visitors to have luxury conditions even without booking a luxury hotel.
Mr Jeremy Ong wanted to create a unique selling proposition, so he ultimately decided on creating a shared gym space for young people who wanted to remain active even while travelling. Besides, gyms are good places to make friends and to start on new adventures together.
His hook worked. Mr Ong invested a good amount of his budget in a reliable advertising agency that helped him devise a good strategy for attracting tourists. Now, Mr Ong is thinking of expanding his business, possibly to Malaysia or Indonesia and he is happy he asked for our help.
SBL Singapore has devised personalised Hotel / Luxury Resort Business Loans to help you cover for various expenses, including:
- Expanding your hotel
- Building a restaurant
- Refinancing an unsecured loan
- Purchasing or taking over a hotel
- Working capital finance
- Marketing, PR and advertising campaigns
- Staff hiring
- Licenses and permits
Launched in February 2018, SBL Singapore aims to provide financial assistance to all companies including those in the Hotel / Luxury Resort Business industry. We also gather mentors in the hotel and tourism sector through our Coach-and-Go programme for our clients to attain more information and knowledge on business management. Our objective is to help local Singapore brands grow and enter the overseas market.
With a Hotel / Luxury Resort Business Loan, you pay for an inexpensive and reasonable rate of interest on monthly repayments, ensuring that you have enough capital to remain competitive and grow your business. In addition to funding, you will also obtain the mentor-ship and operation assistance that you require.
- Max Loan Amount$1,000,000
- Min Years to Qualify0.5
- Min. Annual Turnover< $100,000