Wyndham Hotels & Resorts has teamed up with investment firm Lafayette Square to provide diverse hoteliers with improved access to capital. Through an exclusive relationship, Wyndham will vet and directly connect qualified owners with Lafayette Square, which aims to help hoteliers with up to $100 million in combined financing from the firm over the coming years. While not all hoteliers will qualify, viable candidates can use the funds to move forward projects that would otherwise stall due to lack of traditional financing.

Wyndham is strengthening its BOLD and Women Own the Room initiatives, leveraging an exclusive relationship with Lafayette Square to help diverse owners unlock improved access to capital. Above, Wyndham Lake Charles, owned by BOLD member, Amina James.

Lafayette Square's investment strategy addresses a critical issue diverse hoteliers face when it comes to access to capital and is the latest component of Wyndham's BOLD (Black Owners and Lodging Developers) and Women Own the Room initiatives, which aim to bolster hotel ownership by Black and women entrepreneurs by addressing the unique challenges faced by each community. From networking and educational opportunities via the newly launched Accelerator Circle, to operational support and complimentary services to help maximize revenue, each program offers tailored solutions to help entrepreneurs on their path to hotel ownership. Together, BOLD and Women Own the Room have resulted in more than 100 hotel deals with Black and women hoteliers, of which more than 20 are now open.

"Inequities still exist within hospitality, especially when it comes to financing. Champions like Lafayette Square—who believe in our same mission—can help us bring greater representation to our industry. There are deserving, credible hoteliers that continue to face roadblocks, and we're committed to using our network to not only give the keys to hotel ownership to more diverse owners, but ultimately help give them the access to tools, resources and partners they need to succeed," said Galen Barrett, VP, Strategic Franchise Initiatives, Wyndham Hotels & Resorts.

"Financing is an ongoing issue—particularly for diverse hotel owners— and there's a growing need to intervene. We believe in elevating entrepreneurs who have historically not had the backing to succeed. Tapping into Wyndham's network brings us and our resources to the epicenter of hospitality, helping make hotel ownership more attainable to qualified hoteliers," said Abhay Patel, Managing Director, Lafayette Square.