Lighthouse Lodge & Cottages – Pacific Grove, CA
The Company served as the bankruptcy court’s liquidating agent and transaction advisor for this 95-room, upscale, boutique lodge and suites with a full liquor license located one block from the Pacific Ocean on the Monterey Peninsula. HTL was the management company during the foreclosure period and was retained after the foreclosure by the new ownership group under a long term management contract. In addition to property management responsibilities, HTL coordinated a renovation of the hotel and increased the average daily room rate over 30% during the first year after the remodeling work was completed. HTL was also responsible for the disposition of the asset after stabilizing the hotel operations.