A well recognized industry leader in Hotel Asset Management, Receivership and Bankruptcy Trustee work, HTL Hospitality Advisors has a proven track record of helping owners, investors and lenders with their asset management or workout assignments. As asset managers, we manage the hotel asset on behalf of the ownership entity. This asset management role can vary by assignment but normally includes oversight and direction of the property management company, franchise relations, budget approvals and managing capital expenditures necessary to maintain and enhance the physical asset, maximize cash flows as create asset value.
The firm has for over twenty-five years functioned as either court appointed receivers or bankruptcy trustees. Our primary responsibilities in handling workouts or bankruptcy cases for the court system is to protect and preserve the hotel asset while maximizing entity cash flows and profitability for all parties involved during the litigation process.
Set forth below is a sample of hotel and resort properties that HTL Hospitality Advisors and its affiliate firm HTL Management have managed directly for third party owners or have managed through its appointment as a court appointed receiver or bankruptcy trustee. Specifics about each of these assignments can be obtained by contacting our corporate office, provided information is not confidential:
Selected as Hotel Asset Managers by the City of San Jose, California who owns the asset, we have directed the operations of the Hotel for over 12 years. This historic full service, Resort Hotel located near the downtown area has 214-room and a conference center with over 33,000 square feet of conference and meeting facilities. The Property also includes an upscale restaurant, spa facility and large outdoor pool. HTL has supervised various capital upgrades to the property, completed various sell/hold strategies, selected a new management company and advised the City on resolution of union and pension issues.
Radisson Hotel & Water Park, Albuquerque, NM
HTL was appointed by the court as a replacement Receiver and Property Management company for this 290-room, full service hotel with 27,000 square feet of meeting space and a 100,000 square foot state-of-the-art, indoor water park. An outstanding franchise dispute was resolved and the brand was converted to a Park Inn. Liquor license ownership and transfer issues were resolved with the state liquor license department, operations were stabilized and a transition to the lender was successfully completed as part of the settlement process.
Hampton Inn, Arroyo Grande, CA
As Receiver and Property Manager for this 105-room, newly constructed property located near Pismo Beach, California, HTL took control of the asset from the ownership group and was charged with preparing for completion of construction. The assignment required a detailed furniture, fixture and equipment inventory, negotiation with the franchise company to retain the brand name and cost estimation for completion of construction. HTL as directed by the court successfully transitioned the asset to the new ownership group.
Lighthouse Lodge & Cottages, Pacific Grove, CA
HTL controlled the 95-unit, upscale, boutique hotel asset as the bankruptcy court appointed Liquidating Agent. Our Capital Markets Team completed a 363 asset sale of the asset and was retained by the buyer as the property management company. A partial renovation of the Hotel was completed by HTL. Revenues and profitability were substantially improved primarily though ADR increases and cost control implementation. Our Capital Markets Team again sold the asset on behalf of the new owners.
Rocklin Park Inn & Spa, Rocklin, CA
Receiver for this 67-room, full service, boutique hotel located in a suburb of Sacramento.
Eureka Ridge Shopping Center & Office Building, Roseville, CA
Functioned as the Receiver for three years including a bankruptcy filing for the 101,071 square foot, suburban retail center and 99,689 square foot office building.
URO Petaluma Warehouse/Office, Petaluma, CA
Receiver, Property Manager and Leasing Agent for the 89,000 square foot warehouse/office facilities.
Christopher’s Inn, Calistoga, CA
Receiver for this upscale, 21-unit Bed & Breakfast Inn located in the heart of the Napa Valley Wine Country.
Days Inn Hotel & Conference Center, Las Cruces, NM
Receiver, Property Manager and Broker for this 156-room, full service hotel and conference center. The property was sold for the lender after the foreclosure.
Quality Inn, Yuma, AZ
Receiver and Property Manager for this 80-room, limited service hotel located in southwest Arizona.
Ryde Hotel, Walnut Grove, CA
Receiver, Property Manager and Broker for this 44-room, historic hotel located on the Sacramento Delta.
Of this we are certain, no one is better qualified and positioned to assist clients in succeeding with their hotel, tourism and leisure projects, assets and investments than the hotel experts at HTL Hospitality Advisors.