Mews launches funding programme Flexible Financing

Firm fuels growth across hospitality sector as it provides hoteliers with access to funding

Mews fuels growth across the hospitality sector as it provides hoteliers with access to funding

Hospitality cloud solutions provider Mews has launched Flexible Financing, a funding programme which provides hospitality businesses with access to capital, as the number of hoteliers branching out to offer additional amenities for guests has more than doubled in the last year.

Flexible Financing is delivered in collaboration with leading financing provider YouLend, enabling eligible customers to receive funding of up to €1,000,000 that can be used for any purpose, such as helping them to expand their businesses, fuel their growth, or weather seasonality. 

YouLend has provided over 150,000 funding options to small and medium-sized businesses.

“We know that many of our customers are looking for reliable and quick access to funding to grow or improve their business. This can be anything from opening new properties to redesigning their space to create additional revenue streams,” says Matt Welle, CEO of Mews. 

“We’re thrilled to be able to present financing to our customers to support them to grow and believe this will have a huge impact on the hospitality sector, providing more remarkable experiences for guests.”

Luuk Visschedijk, Global Head of Strategic Partnerships of YouLend, said: “By offering YouLend's financing solution in the Mews network, we're able to bring access to capital for thousands of hospitality businesses across Europe and the United States. 

"Mews and YouLend share the same goal of offering best-in-class technology solutions, and through our partnership, we're empowering hotel partners to supercharge their growth through fast and flexible funding.”

According to data from the latest Mews Hotelier Survey, 30% of hoteliers are hindered from increasing non-room revenue by a lack of spare funds. 

Flexible Financing will allow hoteliers to make the most of their real estate and provide extra amenities and experiences to their guests. 

The financing option is currently available in the US, The Netherlands, Belgium, Spain, Germany, UK & Ireland, and Poland. #

Eligible Mews customers in those markets can apply directly via the Mews Hospitality Cloud and YouLend, which the firms advise in some cases, monies can be available in as little as 48 hours.

Flexible Financing is said to offer transparent, capped rates and the absence of late fees to eliminate the hurdles of traditional lending. 

Coupled with a flexible repayment plan, where financing repayments are based on a fixed percentage of a hotel’s daily Mews Payments sales until the funding is fully repaid, Mews customers have the peace of mind that repayments align to their cashflow, benefitting them during quieter seasons.

Patrick Fidder, owner of Hotel Fidder, a Mews customer in the Netherlands, added: "The application process was fast and simple, and in just a few days, we received the financing we needed to fuel the growth of our business. 

"All in all, faster than other options, which meant we had more time to dedicate to our guests.”