Innovative Financing For New Hotel
Hotel developer Julian MacQueen spent nine frustrating months crisscrossing the country, searching for two rare commodities: construction capital and a banker with a heart of gold. Despite his impressive portfolio of successful hotels along the Gulf Coast, including the Hilton on Pensacola Beach, MacQueen was turned down by more than 50 banks, including every one in Pensacola. But MacQueen didn't get mad — well, maybe a little — he got creative. He began thinking in unconventional terms, and it paid off, to the tune of $38 million.