Back in 1985, little did I know many years later that our business as a hotel asset manager, interim property manager, resort consultant, court appointed receiver, hospitality and restaurant expert witness would last through three major economic recessions including this one. Nor, did I expect to mark our 25th anniversary of Perry Group International during…
Depending on which analysis and what hotel expert you follow as to the state of the hotel industry this year, there are a number of mixed news reports. There also appears to be a slight conflict between the numbers reported and what to expect going forward at least for the remainder of this year. According…
There are benefits and downfalls to the reliance by hotels in trouble or transition on use of OTA (Online Travel Agents) such as Expedia, Orbitz, Priceline and Travelocity. Since my group works as both an Interim Hotel Manager for short term assignments or being enlisted as the longer term Hotel Asset Manager to oversee a…
There is certainly a good deal more news suggesting hotel receivers and property managers will be dealing with many hotel foreclosures this year. However, some of that activity appears to be focused in those parts of the country that are east of the Mississippi, at least so far. The bigger question that remains unanswered is…
One of the critical issues – if not the most important – in addition to proposing a Court Appointed Hotel Receiver for a particular hotel receivership is making sure the initial “order” moving to appoint the hotel receiver is sufficiently detailed, broad enough and specific to the uniqueness of a hotel and its operating business.…
Earlier this year I attended a hotel valuation workshop to better understand in part what affect today’s investment and lending market will have on hotel real estate values and subsequent sales by a court appointed receiver in hotel receiverships. Put on by The Appraisal Institute of Northern California, the issues focused on how the valuation…
With the US and world economic systems still recovering from crisis, there is a need for hotel economist recommendations on whether to buy or sell hotel properties. Deciding whether to increase or decrease investment in the hotel and hospitality market will require more than just a general economic forecast. It is important to acquire as…
The use of a court appointed receiver by a lender to take over income producing real property and then sell those assets during the receivership may call into question their authority. Whether a rents and profit receiver can sell real property free and clear of liens is one issue. Another is the traditional argument that…
In the recent October 2010 Lender News published by Atlas Hospitality, the delinquency of Commercial Mortgage Backed Securities (CMBS) loans rose again in August. Hotels are hurt the worst with the highest delinquency at 15.5%. However, it has not triggered any increased use of a court receiver and hotel receivership as an alternative remedy to…
The use of interim hotel management requires more focused attention and shorter term results that if a permanent manager is being engaged. It also depends on how temporary the needs are and if this is the better solution than permanent longer term management. This is due to in large part to who the users are…