Asset Management
Noble House Ready to Brand its Properties
Noble House Hotels & Resorts has added the 156-room Pelican Grand Beach Resort in Fort Lauderdale to its collection of managed properties. It’s the 17th property for the Seattle-based company which owns and manages boutique hotels and resorts spanning the four coastal corners of America. ...
New Designation Created for Senior Asset Managers
As the hotel industry has grown, so has the need for qualified asset managers. The Hospitality Asset Managers Association (HAMA) was created in 1991 and the group earlier this month unveiled the formation of the Certified Hotel Asset Manager (CHAM) designation. ...
Melchiorri Brings Lodging to TV with “Hotel Impossible”
Anthony Melchiorri isn’t a TV personality doing a hotel show. He’s a hotel guy doing a TV show. His resume and approach on camera make that clear from the first episode of “Hotel Impossible,” a new original weekly one-hour series premiering Monday, April 9 at 10 p.m. on the Travel Channel....
Vendor News March 15, 2012
Roundup of vendor news and notes....
Understanding Market First Step to Turnaround
Tom Engel spent the 1980s helping launch brands like Embassy Suites, Crowne Plaza and Hawthorn Suites, then turned his attention to managing the hotel portfolio of AXA Equitable during the 1990s as an executive vice president of its $1.8 billion lodging and leisure group. Engel now often finds himself in between the brand and owner as an asset manager....
Is Outsourcing the Answer for Hotel F&B?
Hoteliers have long struggled with what to do with food and beverage. Is it a profit center, an enticement to book a meeting, or a necessary evil? Regardless of your opinion, f&b typically accounts for more than one-fourth of a full-service hotel’s revenues and...
Vendor News August 15, 2011
Roundup of vendor news....
Ex-Hammons Executive Tarwater Lands Development Post
Scott Tarwater, a veteran hotel industry executive and former right-hand man to legendary developer John Q. Hammons, has a new job. Tarwater, who left the Hammons organization last fall in a management shakeup, is now chief development officer for O’Reilly Hospitality Management, an ambitious and well-funded lodging development and management company based in Missouri....
Hotel Borrowers Caught In ‘No Man’s Land’
Some hotel borrowers are venting their frustration over special servicers’ unavailability for advice at the same time the hoteliers face the threat of default. “I’m in no-man’s land,” fumed Nitin Shah, president of Imperial Investments Group in Norcross, Ga. at the 23rd annual Hunter Hotel Investment Conference held recently in Atlanta....
Oh, What a Tangled Web CMBS Hotel Loan Delinquencies Weave
Since 2003, roughly $110 billion of lodging mortgage debt has been originated and securitized into real estate mortgage investment conduits (REMICs) in the United States, collateralized by slightly over 18,000 lodging properties. To put this number into greater context, there are by several estimates roughly 51,000 hotels in the entire U.S. hotel market....
Hotel Receivers Talk Turnaround Strategies
Working as a hotel receiver isn’t for the faint of heart. The assignment often comes on short notice, sometimes includes a surprised and hostile borrower and a property whose physical structure, staff and cash flow have deteriorated. ...
Savvy Management Is Key to Success at Distressed Hotels
Lodging is the most management-intensive segment of the commercial real estate industry. And while location and financial structure are critical, operating performance may be the primary driver of value in a hotel investment. So when a property becomes distressed or goes into default or bankruptcy, it’s crucial that competent, experienced and honest management be able to step in quickly to stabilize the situation....
Hotel Distress Helps Stoke Transaction Activity
The return of the hotel transaction market has taken longer than expected, but a splash of high-profile acquisitions and a potential wave of distressed assets coming to market have many believing the dam is about to burst....
Don’t Let Your Lender Steal Your Hotel
OPINION: Hang on to Reap Rewards of Recovery
It’s been a very tough time for hotel owners. Starting in the fall of 2007 with the collapse of the housing finance industry, followed by a number of failed financial institutions, massive layoffs and record high unemployment, travel came to a grinding halt. Hotel occupancies declined and room rates spiraled downward. No market or hotel product type was spared, and everyone suffered. If you were one...
