Residence Inn & Courtyard by Marriott Charlotte Northlake

Anuj Mittal, Hotelier & Owner of MJM Hospitality Group

Project Type
New Hotel Construction
Problem

Anuj Mittal is a dreamer and a bit of a gambler, which is what has made him such a successful hotelier over the past two decades. His vision and persistence to build a new, dual-brand Marriott hotel just north of Uptown Charlotte, North Carolina was remarkable given the twists and turns he encountered while getting the project off the ground. The limited land available at his desired location and his innovative design challenged both Marriott and his partners, forcing them to think outside the box. He also needed financing partners that understood his concept and could provide tailored solutions, which is why he turned to his long-time friends at Live Oak Bank.

new hotel construction blueprint
Anuj Mittal new hotel construction
Solution

Anuj worked with the hotel lenders at Live Oak to leverage U.S. Small Business Administration (SBA) loan programs like 7(a) and 504 Green, as well as other sources to fund the 27 million dollar project. Hotel construction started in late 2016 and the 188-room hotel opened its doors to guests in June of 2018. This new hotel is Anuj’s crowned jewel of all the hotels he owns. Why? It features unique services and comforts for all travelers and guests and uses solar panels on the roof to generate 20 percent of the building’s energy; a new, modern style that Marriot has adopted nationwide. The hotel has also created 200+ permanent jobs for the area and left a lasting economic impact on Charlotte, North Carolina.

Live Oak works with hoteliers like Anuj Mittal every day to fund hotel projects of all kinds.

Connect with one of our hotel loan specialists to discuss your next project today.