GE Capital Loans $9.32 Million to Vision Hospitality Group, Inc.
Funds will be used refinance a Homewood Suites in Kennesaw, GA
SCOTTSDALE, Ariz. -- September 4, 2013
GE Capital’s Franchise Finance business announced today that it has loaned
$9.325 million to Vision Hospitality Group, Inc., a hotel management and
development company based in Chattanooga, TN. The funds will be used to
refinance outstanding debt on a 100-room Homewood Suites by Hilton property in
“As we continue to grow, we need to have a lender that can keep growing with
us,” said Mitch Patel, president and chief executive officer of Vision
Hospitality Group. “My company has an unwavering commitment to quality,
integrity and sustainability, and it’s a pleasure to work with a company that
has similar values.”
After completing graduate school in 1993, Patel worked as a project engineer,
managing the design and development of projects in the Atlanta metro area. In
1996, he developed his first hotel property. Today, his company has 25
properties in its portfolio representing the Hilton, Marriott, Hyatt and
InterContinental Hotels Group brands.
“It’s inspiring to work with entrepreneurs like Mitch Patel,” said Jim Petty,
senior vice president of hotel originations with GE Capital, Franchise
Finance. “This is our second transaction together and we’re glad to continue
About Vision Hospitality Group, Inc.
Founded in 1997, Vision Hospitality Group, Inc. is a family-owned and operated
company. With multiple properties in its new development pipeline, it
continues to grow while maintaining an extraordinary focus on community
involvement in all of its locations. For more information, go to
About GE Capital, Franchise Finance
GE Capital, Franchise Finance is a leading lender for the U.S. franchise
finance market via direct sales and portfolio acquisitions. With more than 30
years of experience and over $7 billion in served assets, it provides
financing to more than 2,000 customers. The business specializes in financing
mid-market operators with multiple stores in the restaurant and hospitality
industries. Its team of industry experts works with entrepreneurial customers
to help them develop individualized growth plans. GE Capital, Franchise
Finance customers also receive access to its proprietary industry research and
cutting-edge digital tools. For more information, visit
http://www.gefranchisefinance.com or follow company news via Twitter
GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit www.gecapital.com
or follow company news via Twitter (https://twitter.com/GECapital).
GE (NYSE:GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in energy,
health and home, transportation and finance. Building, powering, moving and
curing the world. Not just imagining. Doing. GE works. For more information,
visit the company’s website at www.ge.com.
GE Capital, Americas
Lisa Tibbitts, 203-956-4582
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