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.