Many hotel advisors and senior management of lodging property companies here in the USA have been wondering about what to expect this year given the mixed signs about the economy. Last month, a hotel capitalist and principal of a major investment banking firm offered up his Dr. Doom predictions that uncertainty in 2012 is as…
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…
The Bay Area Chapter of the California Receivers Forum held its March 24, 2010 program on trends in receivership that included a lender, court receiver and attorney on the speakers panel. It was very well attended at The City Club in the Financial District of San Francisco. The event which was entitled “Current Trends in…
Recent reports of hotel defaults declining suggest that the need for hotel receivership services in California will drop as well. Compared to last year, there appears to be less default filings by hotels in the first quarter across the Golden State. However, coupled with this news are reports that CMBS loan delinquencies are rising as well. Just out…
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 is some interesting commentary from hotel and leisure advisors and lawyers on the subject matter of a major case on credit bidding by banks and lenders that will be going before the Supreme Court. At issue is whether during a bankruptcy auction a lender can purchase collateral using its own debt. According to David Neff…
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…
It seems like deja vu when hotel receiverships or foreclosures were thought to be the step many lenders would take when loans came due in 2009. Well, it is soon to be 2012 with many hotel loans maturing from refinancing done five years ago. However, and like “extend and pretend” that appeared to dominate the loan…
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…