Hospitality cloud Mews, in association with financing provider YouLend, has launched a funding programme called Flexible Financing.
The initiative aims to offer hospitality businesses easier access to capital, with funding of up to €1m ($1.25m) available for eligible customers to use for any purpose.
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In the past year, the number of hoteliers expanding their offerings to add more amenities for guests is said to have more than doubled.
Mews CEO Matt Welle said: “We know that many of our customers are looking for reliable and quick access to funding to grow or improve their business. This can be anything from opening new properties to redesigning their space to create additional revenue streams.
“We’re thrilled to be able to present financing to our customers to support them to grow and believe this will have a huge impact on the hospitality sector, providing more remarkable experiences for guests.”
Flexible Financing offers transparent, capped rates and eliminates late fees, removing traditional financial barriers, noted Mews.
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By GlobalDataIt also provides a ‘flexible’ repayment plan.
Repayments are calculated as a fixed percentage of a hotel’s daily sales made through Mews Payments, allowing for a repayment schedule that aligns with the hotel’s cash flow.
YouLend strategic partnerships global head Luuk Visschedijk said: “By offering YouLend’s financing solution in the Mews network, we’re able to bring access to capital for thousands of hospitality businesses across Europe and the United States.
“Mews and YouLend share the same goal of offering best-in-class technology solutions, and through our partnership, we’re empowering hotel partners to supercharge their growth through fast and flexible funding.”
YouLend is said to have offered more than 150,000 funding options to small and medium-sized enterprises.
In April 2024, Emeraude Hotels partnered with Mews to modernise technology across its properties.
This move is expected to help Emeraude gain access to more than 1,000 hospitality tools, ranging from business intelligence to reputation management.
