Decoding the Hotel Debt Market with Larry Yells: Finding the Right Capital in 2025 | The Room Key

In this episode, Chase sits down with hotel mortgage broker Larry Yells to unpack the current state of hotel financing and what owners need to know heading into 2025.Larry has spent more than two decades navigating the ups and downs of capital markets for hotel owners — from the “good old days” of 75% leverage to today’s tighter lending standards. He breaks down who’s still lending, what loan products are working, and how to position your deal for success in a challenging environment.You’ll learn:What’s really driving today’s lending landscape for hotelsThe difference between SBA, conventional, CMBS, and bridge loansHow leverage, DSCR, and loan-to-cost ratios have shiftedWhy “clean books” and transparency matter more than everWhat lenders look for in flagged vs. independent hotelsWhere the biggest opportunities (and challenges) are emerging for 2025–2026Larry also shares real-world financing stories, including one memorable “elevator nightmare” that almost tanked a deal — and what owners can learn from it.Tagline: The only place where debt talk won’t put you to sleep.