Hotel Feasibility Study in the Glens Falls, NY Metro Area

Hotels first, by a wide margin, in Glens Falls

Glens Falls, NY puts hotels and motels at first place among its 39 classes, and a location quotient of 4.42x puts lodging far above its national share. The files hold 29 loans for $52.5 million between FY2017 and FY2026. Against other areas the metro is 77 of 807. Hotels here have a $1.3 million median, 0.60x the national hotel figure, with the central half from $466,000 to $2.6 million. A reader should keep in mind that these ratios describe a record of lending, not the strength of demand.

504-led, with one named holder

Glens Falls leans toward SBA 504 with 16 loans, against 13 under SBA 7(a). Franchise affiliation is 41.4%. Empire State Certified Development Corporation holds 16 loans worth $33.2 million, as SBA reports current holders; that describes who holds the loans, not how the organization works. FY2018 prints 8 loans and $12.4 million, and FY2026, a finished fiscal year, prints 0 loans and $0. Fiscal years that are not named stay blank for want of loans; blank is not zero.

Rates withheld

The FY2017 to FY2021 cohort here is under the 30-loan bar, so cancellation and charge-off go unprinted under Loan Analytics' own rule. They should not be read as good or bad news. Because the lenders and years that print are so few, the totals and ratios carry most of what this page can say.

What a Glens Falls hotel study has to test

Because lodging dominates this metro's lending record, a study must not assume that more rooms will find guests. Its market section needs occupancy and rate evidence from the true competitors, the seasonal shape of demand at this property, room-level costs, and a debt service test through the slowest quarter. With 16 of the 29 loans under SBA 504, the appraisal's income approach and the building's cost basis both need to appear. With 41.4% of loans branded, a flagged and an independent case should be compared. A single code serves all lodging, which hides the difference between limited-service and full-service. A loan reaches this metro through its project county, and no approval is promised.