Hotels Turn To Crowdfunding to Attract Investment

Excerpt from Hotel News Now

Dec 10, 2013 2:00 pm

Skift Take

Hilton Worldwide isn’t going to try crowdfunding because it has Blackstone, and soon, the New York Stock Exchange. But crowdfunding may be a way for small, independent and boutique hotels to raise some funding. Is it a long-term and sustainable strategy to attract investors? Probably not, but it can be a starting point.

— Dennis Schaal

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The concept of crowdfunding has pushed into the real estate sector as an innovative way to fund new projects, including hotels.

Shel Kimen, founder of Collision Works, has firsthand experience when it comes to crowdfunding a hotel. Her concept, a 45-room boutique hotel in Detroit built from shipping containers, has been an evolving project that is still in its financing stage. Kimen’s shipping-container hotel concept raised $41,000 in two and a half weeks on Kickstarter, Kimen said.

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