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 Black Investors Want to Know, Where�s The Beef?
 
24 May 1999 - As NABHA personnel travels the nation performing its mission, which is to promote hotel ownership, we are often asked the question, how difficult is raising capitol? 

Not many blacks have the ability to stroke a check for the entire equity requirements. In many cases we are coming together and forming Limited Liability Corporations and examining other vehicles of ownership. 

We have identified that some of us have land, others have credit and a few of us have a small amount of capitol to leverage towards the participation in a project. NABHA has been extremely active in developing relationships with many of the major franchise companies. 

Companies such as Suburban Lodges boast a very solid performance record; it is this kind of venture that we are suggesting that our constituents examine. Cendant Corporation as well as Motel 6 has been extremely generous in providing us with support & materials describing their operating concepts. 

There are some black investors who prefer to consider a higher end product. NABHA�s newly formed relationship with Hilton Garden Inns is the perfect match! With major real estate brokers such as Hodges Ward Elliott available to assist with our transactions the only missing link to NABHA achieving its goal of inspiring one hundred hotels to be owned by blacks over the next few years is, for a few serious lending partners to step forward. 

We are consistently conducting our signature workshop titled � the A B C�s of Hotel Ownership�. We will be performing this workshop at this years �Third Annual Florida Multicultural Tourism & Hotel Ownership Summit� that will be held this July in Ft. Lauderdale, Fl. 

�This will be the best ever attended event, as black hospitality professionals and others will be coming from all over the world� said Andy Ingraham the conference promoter. NABHA will be distributing promotional material of our corporate members and look to assist in closing deals during this conference. 

Too often we are unable to close transactions simply because we cannot obtain financing. Lending companies who desire to expand their market will be very pleased with the potential NABHA allies bring to the table. We need the kind of business partners who are willing to come to our conferences and share experience and information that will strengthen our network. It is a fact that blacks have limited experience as hotel owners. Those companies who take the time and nurture this relationship will be positioned for long term growth. It is not that blacks cannot become owners. We have not because of limited resources, limited opportunities and most importantly, limited access to capitol. 

At NABHA we believe in the together each achieves more (team) concept. This industry requires a total team effort. When we learn together we can earn together. The opportunities that exist are endless. Investing in our network today ensures the future of our industry.

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Contact:
Gary Cross, Executive Director
National Association of 
Black Hospitality Allies Inc.
404-522-7729
[email protected]
http://www.nabha1.org
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Also See: NABHA Program Helps Develop Business / NABHA / Nov 1998 
Its All In The Name of Business! / Gary Cross, NABHA / May 1998 

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