Hotel Feasibility Study in the South Bend-Mishawaka, IN-MI Metro Area

Hotels in the South Bend-Mishawaka area

South Bend-Mishawaka, IN-MI has 26 loans to hotels and motels spanning FY2017 through FY2026, worth $64.3 million. At $2.4 million, the median runs 1.13x the national hotel figure; loans in the central half range from $1.6 million to $3.2 million. Hotels take second place among 39 classes locally. Counted against other areas, South Bend is 90 of 807, and its 2.27x location quotient puts lodging well past twice the national weight. Few projects in any one year share the same circumstances, which limits what the totals can say. Very large tickets mean each hotel loan is a major credit decision. The lodging figures above stand as plain description of South Bend loans.

Flags, holder and the years that print

A very high 80.8% of the loans carry a franchise affiliation, so brand standards are part of almost every project. Millennium Bank (IL) holds 7 loans worth $11.6 million, the one institution at five or more in SBA's records of current holders; that describes holdings and nothing about lending practice. FY2018 prints 6 loans and $14.7 million and FY2022 prints 6 loans and $13.9 million, and FY2023 is a finished year with 0 loans and $0. No program split is printed, and years left unnamed are blank without being zero.

Missing rates

South Bend-Mishawaka disbursed fewer than 30 hotel loans in FY2017 to FY2021, a count that leaves cancellation and charge-off unprinted under Loan Analytics' own rule. That is a statement about sample size and not about hotel performance.

What a hotel study must test

Large tickets and heavy flag affiliation mean a study has to cover the franchise agreement first: brand fees, mandated improvements and how long the agreement runs compared with the loan. After that comes the market case: occupancy and rate compared with real competitors, seasonality, cost per room, and whether debt is covered in a weak quarter. Every hotel and motel is filed under one code; service levels are not distinguished in this record. Appraised value follows income here, and the study's forecast has to agree with it. A request at the upper end should say what drives its size. This is no promise of approval.