If you are a lender, creditor or attorney representing one and are seeking to appoint a California hotel receiver as part of a pending foreclosure, learn more about the in and outs of receiverships at this event in Squaw Valley near Lake Tahoe on May 21, 2011. Chaired by Bruce Cornelius, who is an experienced…
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…
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…
Two news stories that we followed as part of our hospitality asset manager practice suggest hotel room rates will continue to rise even though gas and fuel prices are climbing as well. Here are a few excerpts on that commentary and our take on it: – The GBTA index says that business travel hit its…
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…
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…
In the prior blog on this subject, the use of interim hotel management addressed the circumstances and typical users and types of assignments. In this part, situations are discussed where short term and temporary management can be more a liability than a solution. Several examples include: Interim Hotel Managementa) A hotel foreclosure by a Bank…
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.…
After writing about mixed messages that investors received on the lodging industry recently, hotel special servicers may be in store for more troubled loan workouts and defaults as well. Lenders and senior business executives do not seem very optimistic this last quarter based on two recent news reports. According to the survey in the ABF Journal,…
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…