Jun
24

Hotel Consulting & Brokerage - Joel Hiser - Bankruptcy Court

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. 

Project Status:

For additional information please contact Joel Hiser at 415-925-8800  or via email at  .

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  2263 Hits
2263 Hits
Jun
07

New SBA Hotel Loan Best Western Southern California

Scope of Work:

Hotel Loan – Best Western – Southern  California

Description of Project:

Veno Nathraj, a Hotel Broker with HTL Hospitality Advisors, is pleased to announce the placement of a new loan for Best Western Joshua Tree in Yucca Valley, California. HTL worked with a national lender to place a new loan on the 94-unit property which closed on June 1st 2015. The borrower received an SBA loan for the full amount requested. The rate and terms were highly competitive compared to other lenders.

Project Status:

National lender placed the new loan. For additional information please contact Veno Nathraj at 909-215-6447 or via email at .

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  2297 Hits
2297 Hits
Jun
02

Veno Nathraj Southern California Hotel Broker - Escrow Closed

Scope of Work:

Success close of escrow – Best Western  – Yucca Valley, California

Description of Project:

Veno Nathraj, a Hotel Broker with HTL Hospitality Advisors, is pleased to announce the recent sale of the Best Western Joshua Tree in Yucca Valley, California. HTL represented the seller, Kush Hotels, LLC in the transaction, which saw the 94-unit property close on June 1st 2015. The buyer of the property was 1031 exchange buyer from Texas. The hotel was in very good condition and was to retain the Best Western brand. The property traded at a 4.6 times room revenue on a 6.75% Cap Rate.  

Project Status:

Property was acquired by an investment group. For additional information please contact Veno Nathraj at 909-215-6447 or via email at .

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  2260 Hits
2260 Hits
May
20

Hospitality Management Radisson Hotel & Water Park - Receivership

Scope of Work:

Receivership Case – District Court of Bernalillo County, NM:  Radisson Hotel & Water Park - Albuquerque receivership and foreclosure.

Description of Project:

Joel Hiser a Hospitality Broker of HTL Hospitality Advisors was appointed by the court as receiver (Case No. CV 2011-02233) for the 280 room, full service hotel with 30,000 square feet of meeting space, restaurant, lounge and 100,000 square foot indoor waterpark.  HTL Hotel Advisors, an affiliate of HTL Hospitality Advisors, was retained by the receivership estate to manage the property through the foreclosure date.  The case required the receiver to qualify for a liquor license with the state of NM and to negotiate an interim, Radisson franchise extension agreement and later a new Park Inn franchise agreement.  The management company substantially increased revenue, reduced operating losses and successfully negotiated a fire sprinkler system dispute with the City.

Project Status:

For additional information please contact Joel Hiser at 415-925-8800  or via email at .

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  2600 Hits
2600 Hits
May
10

Receivership Property Management - Los Angeles Superior Court

Scope of Work:

Receivership and Bankruptcy Case – Superior Court shopping center receivership case converted to bankruptcy case.

Description of Project:

Joel Hiser on behalf of HTL Hospitality Advisors was originally appointed as receiver by the Los Angeles Superior Court BC 438638 and retained by the U.S. Bankruptcy Court – Central District of California Case No.: 1:10-bk-21696-GM to oversee the estate throughout the case.  Mr. Hiser managed the business of SE10W&L, LLC which owned a two year old, 28,808 square foot, shopping center consisting of two multi-tenant retail/office buildings and a ground leased Carl’s Jr. Restaurant.   A Panda Express Restaurant which had purchased an adjacent development pad from the Debtor also paid CAM charges to the estate.  In addition to day to day management of the center, Mr. Hiser also leased several thousand feet of retail space.  He testified in the bankruptcy hearings regarding operational matters related to the center, leasing potential and long term profitability of the center.

Project Status:

For additional information please contact Joel Hiser at 415-925-8800  or via email at .

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  2434 Hits
2434 Hits

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.

Call us today at (415) 925-8800