GE Capital’s Franchise Finance business, part of General Electric Company (GE - Analyst Report) , recently provided a $6.5 million loan to Wright Investment Properties, Inc. - a hotel management and development company based in Cordova, Tenn. The funds will be utilized to refinance and refurbish a 90-room Residence Inn situated in Memphis.
Founded in 1982, Wright Investment Properties currently manages 44 hotels in 16 states. Its portfolio includes a diverse spectrum of upscale full service hotels in major downtown metropolitan areas to large convention hotels, resorts, extended stay lodging, airport hotels and service properties in suburban locations. The company is very active on the acquisition front and development of hotels. With financing from GE Capital, Wright Investment is likely to fuel its organic and inorganic growth.
GE Capital’s extensive industry knowledge and expertise will help Wright Investment to have a deep market insight to better serve its customers. With over 30 years of experience and $8 billion in served assets, GE Capital provides financing to more than 2,000 customers.
General Electric, the parent company of GE Capital, operates as a technology and financial services firm. Its segments include Energy Infrastructure, Aviation, Healthcare, Transportation, Home & Business Solutions and GE Capital. GE Capital is equipped with diverse types of products, ranging from consumer lending to financial solutions and GE Capital meets the financial needs of businesses of all sizes. In the last reported quarter, revenues from the GE Capital segment declined 3% year over year to $11.0 billion as it continued its strategy to reduce the overall size of its portfolio while focusing on core growth.
General Electric currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look now are Hutchison Whampoa Ltd. carrying a Zacks Rank #1 (Strong Buy), Federal Signal Corp. (FSS - Snapshot Report) and ITT Corporation ((ITT - Analyst Report) , each carrying a Zacks Rank #2 (Buy).