In part three the importance of having a ninety day plan as part of interim hospitality management services was addressed, including why it is a critical aspect at the beginning of the takeover by a temporary manager or management team. However, there are certain areas that require one to hone in on and drill down…
Recent reports suggest a hotel asset manager and lenders should take advantage of rising profit histories and sale transactions to sell distressed and underperforming hotel assets soon. It appears we are at the beginning of the cyclical nature of hotel valuations once again. Coupled with the lack of any significant new hotel development, demand for…
Several articles published recently highlight the movement of distressed hotel real estate and what could accelerate hospitality sector investment according to Perry Group’s Hotel Asset Manager and Hospitality Asset Management specialist. This is being defined by major potential sources of hotel acquisitions and dispositions including Real Estate Investment Trusts (REITs), Banks non-performing loans and hotel…
Limited Hotel Receivership Overview Once a Court Appointed Receiver is assigned in a limited-purpose capacity to collect the hotel TOT, he or she will perform similar duties as in a full-purpose hotel receivership. This includes taking control of all of the bank accounts and performing an evaluation as to the economic feasibility of the property…
During economic recessions and related downturns in business and leisure travel, many cities and counties across the nation are generating lower tax incomes due to less overnight room sales tax or hotel transient occupancy taxes (called TOT) being collected at area lodging facilities. This is especially evident in popular destination hotels and resorts that produce…
Obviously Warren Buffet’s Blackstone Group and others think now is the time to buy a hotel in the USA. Although there is still a lot of distress talk amongst hotel owners and operators alike, there are also various signs pointing at the recovery, albeit a slow one, is starting to muster some momentum. Here are…
Several articles appeared recently in STR (Smith Travel Research) publications that we follow as part of our hospitality consulting services advising clients that suggest the hotel industry is showing more signs of improvement this fall and in the coming year. Some of the noteworthy commentary includes: Earnings Reports- In year-over-year measurements, the USA hotel industry’s…
In part one and part two on this subject about interim hotel management, the circumstances, typical users, types of assignments and when it does and does not make sense were addressed. In this part, the importance of planning from a shorter term perspective is looked at and why it is a critical aspect at the…
There are more signs this week that big money and hotel investment activity is picking up and will begin to add to more reductions of distressed hotel real estate inventories going into late 2010, according to Perry Group’s Hotel Asset Manager and Hospitality Asset Management specialist. After going dark for most of 2009, hotel sector…
Part of our services as a hotel asset manager requires us to consult different resources to effectively manage and oversee a client’s lodging property. We also like to share this information with investors and lenders, who are buying, selling or dealing with distressed hotel real estate, so they are better informed and make good decisions…