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Overview
HVS/American Hospitality Management Company has expertise in the
management of hotels in transitional and distressed circumstances
and has extensive experience being appointed receiver. With our
expertise we are able to provide efficient and cost effective
Receivership Services for lenders that are preparing to foreclose
and sell a property.
Appointment
Our principal officers are well acquainted with the court
proceedings involved in the appointment of a receiver. Our
experience gives us the ability to efficiently go through the legal
process with our clients including insuring that the all important
Order Appointing a Receiver is adequate in its scope and provides
the necessary tools for both a smooth transition but also cleaning
up unpaid bills and leases.
Takeover
Utilizing our management know-how and our company’s flexible
structure, we are able to smoothly take over operation of the
property, on very short notice if necessary. When we become
receiver, we enter it as we would any hotel we manage. As you would
expect, we will be present at the hotel at the time of takeover to
become familiar with its operations and implement the necessary
changes. The appropriate background checks are performed on all
employees and they are rehired and placed on the payroll of an
affiliate of ours in order to reduce the investor’s associated risk.
Management
We make sure that the assets of the property, both physical and
monetary are protected and accounted for. Financial and accounting
work for the property is done by experienced staff in our offices.
The accounting system that HVS/American Hospitality Management
Company utilizes permits our clients to view financial data over the
internet using a web browser, allowing the interested parties to
stay up to date with the business of their asset. Additional reports
are prepared and submitted as necessary.
Why Us?
HVS/American Hospitality Management Company is able to efficiently
develop and execute the necessary hotel business plans that will
increase the efficiency and appearance of a hotel. This will help
the selected hotel broker show the hotel in the best possible light
to prospective buyers. We will work hard to help effectively dispose
of the hotel asset.
Usually No Additional Cost
Receivership Services generally cost no more than regular management
services for other hotels that HVS/American Hospitality Company
manages. The exception is when extra court appearances are required
or when borrowers challenge the Receiver entity on some matter. In
that case reasonable hourly rates are charged and all concerned are
advised in advance. As Receiver we do retain outside counsel and
this is an expense of the Receivership.
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