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Distressed Asset Management

Professional Receivership Services for Hotels, Resorts, Condos, Restaurants, Ski Hill/Resort, Entertainment Venues, & Golf Courses

Leisure Hotels and Resorts understands the technical and legal processes that are  involved when it comes to receiving a distressed property by a lender through foreclosure, bankruptcy, and negotiated transitional handovers.   We have extensive experience in independent and branded hotel, resort and condo association receivership. Since the late 1980’s, Leisure managed a whole host distressed hotel assets from local, regional and national lending institutions as well from the Resolution Trust Corporation (RTC).   We stabilize troubled assets; operate them in an efficient cost effective manner while providing the lender with a plan to best meet the needs to secure a sale in a realistic timeline that minimizes the financial loss.

In addition our nationally ranked hospitality brokerage division can also provide assistance during this transition phase. All of these services allow us to offer a one-stop shop during this crucial receivership / transition phase of the hotel asset.

Within 24 hours of a court ordered receivership appointment, Leisure Hotels will take over the asset and following process will be implemented

Receivership Takeover Process

  • Secure all assets including bank accounts, cash, and all property
  • Follow proper human resource procedures for all employees
  • Take care of all life safety issues
  • Ensure all local, state, and federal laws are followed
  • Follow all franchise policies and procedures
  • Execute all required reporting under court order
  • Make all necessary court appearances
  • Manage Asset in the most cost effective manor
  • Property walk through and assessment

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Asset Management

  • Approved Court “RECEIVER” for full service hotels
  • Advisory services for pending legal actions/foreclosures/partnership conflicts
  • MOLD and ASBESTOS Evaluation and Remediation Supervision
  • Financial and management reporting to Lenders/Superior Court/Borrowers
  • Chapter 11 Administration – Debtor in Possession
  • Experience in securing all City/County/State licenses
  • Lease/contractor/vendor negotiations

Franchising

  • Expertise with all brand families including IHG, Marriott, Hilton, Best Western, Choice Hotels, Wyndham and Starwood
  • Negotiations of interim and long term Franchise Agreements
  • Relicensing and renovation of hotels in “Default”
  • Construction supervision/purchasing for renovation to PIP Standards
  • Negotiations of lender licenses, license renewals, change of ownership licenses
  • Market development planning and analysis of multi-unit franchise brands
  • Repositioning or Brand selection for distressed assets
  • Negotiating and Analyzing Product Improvement Plans (PIP)

Development

  • Full capability to project manage a partially complete or stalled construction hotel
  • Full hotel renovation and re-positioning expertise
  • Market analysis, site selection, facility design and planning services
  • Trustee appointments will be executed with the same level of integrity and accountability as our receivership appointments.

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Receivership Contact Information
Steven C. Olson
CEO – Leisure Hotels & Resorts
913. 499.4708
Or Use Contact Form

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If you're looking for more information on what Leisure Hotels & Resorts can do for your property, or any other inquiries, contact us here.

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