Episode 12

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Published on:

19th Oct 2025

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 hotels
  • The difference between SBA, conventional, CMBS, and bridge loans
  • How leverage, DSCR, and loan-to-cost ratios have shifted
  • Why “clean books” and transparency matter more than ever
  • What lenders look for in flagged vs. independent hotels
  • Where the biggest opportunities (and challenges) are emerging for 2025–2026

Larry 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.

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About the Podcast

The Room Key
Where Hotel Owners, Investors & Insiders Talk Shop with Chase Keller
The Room Key is where hotel owners, investors, lenders, brokers, and hospitality professionals come to talk shop. Hosted by Chase Keller, CCIM, a national hotel broker with Franchise Clearly. Each episode dives into the real stories, challenges, and insights that drive the hotel industry. Whether you're a first-time owner, a seasoned investor, or someone who just loves the business of hospitality, The Room Key offers candid interviews, market trends, and practical takeaways you won’t find anywhere else. Unlock behind-the-scenes conversations with the people who power the places we stay.

About your host

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Chase Keller, CCIM

Chase Keller is a dedicated hotel advisor and the Head of the Hospitality Division at Franchise Clearly, a brokerage redefining how hotel transactions are done. With over 16 years of real estate experience and CCIM training, Chase specializes exclusively in helping hotel owners and investors buy and sell hospitality properties across the U.S. His deep knowledge of franchise brands and independent hotels allows him to provide data-driven insights and strategies that maximize value for his clients.

At Franchise Clearly, Chase leads a team-based approach that sets the firm apart from traditional brokerages. Instead of relying on one person to handle every aspect of a transaction, Franchise Clearly brings together a team of specialists—each operating in their area of strength—creating a seamless process and delivering superior results for clients.

Known for his client-first mindset and meticulous attention to detail, Chase ensures that every deal is handled with precision, professionalism, and care.
Contact Chase today to explore your hotel investment opportunities with Franchise Clearly.