A steady flow of financing is essential to the continued expansion of the hospitality industry. Over the years, the industry has attracted the attention of different sources of financing, becoming "hot" for international financiers for a time and then attracting the attention of another source, such as life-insurance companies or Wall Street investors. Using the consensusbuilding Delphi method, the authors asked a panel of experts from the financial community and hospitality industry to determine where the sources of funding would most likely be for 11 different hospitality segments for the years 2000 and 2005. The financing prospects seemed strong for luxury and convention hotels and resorts, primarily from such sources as pension funds, life-insurance companies, investment banks, and money-center banks. On the other hand, big financing seemed unlikely for motels, budget-type properties, and extended-stay properties. While local sources, such as community banks, might finance select properties, the Delphi panel believed that a heavy supply overhang would discourage most lenders from investing in those segments.
资金稳定流动对于酒店业的持续扩张至关重要。多年来,该行业吸引了不同的融资来源的关注,一度成为国际金融家的“热点”,然后又吸引其他来源的注意,比如寿险公司或华尔街投资者。作者们使用共识建模的 Delphi 方法,询问了来自金融界和酒店业的专家小组,以确定在2000年和2005年对11个不同的酒店细分市场最有可能的融资来源。豪华和会议酒店以及度假村的融资前景看起来很强劲,主要来自养老基金、寿险公司、投资银行和大型银行等来源。另一方面,汽车旅馆、经济型物业和长期住宿物业似乎不太可能获得大额融资。虽然当地来源,如社区银行,可能会为某些物业提供融资,但 Delphi 专家小组认为,供应过剩将阻碍大多数贷款人投资于这些细分市场。