Scope of Work:
Hotel Property Sale and Receivership Case: Days Inn Hotel and Conference Center, Las Cruses, NM receivership and property disposition – Second District Court County of Bernalillo.
Description of Project:
HTL Hospitality Advisors represented by David Dean a Hotel Consultant and Joel Hiser a Hotel Broker was appointed receiver (Case No.:CV-2010-1644) for this 160 room, full service hotel and conference center which included a restaurant, lounge and 7,637 square feet of meeting space. HTL Hospitality Advisors was retained to operate the property through the foreclosure and on behalf of the bank until the sale date. Joel Hiser and Mark Beadle, as real estate brokers for HTL Hospitality Advisors, sold the asset to Southwest Lodge Inn, Inc. on behalf of bank. The management company improved operating profitability of the asset, completed substantial renovations and qualified for a liquor license with the state of NM. The receiver was also responsible for recovering lost funds of the estate.