Presentation is loading. Please wait.

Presentation is loading. Please wait.

Hotel Workouts and Receiverships Background and Qualifications Contact: Derek Sylvester, Principal (610) 687-9280

Similar presentations

Presentation on theme: "Hotel Workouts and Receiverships Background and Qualifications Contact: Derek Sylvester, Principal (610) 687-9280"— Presentation transcript:

1 Hotel Workouts and Receiverships Background and Qualifications Contact: Derek Sylvester, Principal (610)

2 BACKGROUND & EXPERIENCE Founded in 1996 with the development and opening of five Hilton branded hotels from 1998 to 2002 Portfolio sale in 2005 Developed and opened two Marriott Courtyards in 2005 and Sold in November Senior leadership buyout of GCH from founders in July 2008 to focus on regional hotel management. Founders formed Gulph Creek Development to focus on regional hotel development. Currently operate seven select-service hotels and one full-service hotel Two managed hotels are owned by the bank, one is in receivership Affiliations - Hilton, Marriott, IHG, Choice, Best Western and Independent In development – Hampton Inn (2), Staybridge Suites, Independent Hotel. Approved developer and operator for all major brands including Starwood, Hilton, IHG and Marriott $39 million annual revenue, 300 Employees

3 CURRENT MANAGED HOTELS PORTFOLIO Hotel Guest RoomsLocation Year Opened Hilton Garden Inn105Hamilton, NJ2007 SpringHill Suites200Liberty International Airport, NJ2004 Crowne Plaza340Philadelphia, PA1980 Best Western – Widener Hotel Bank Owned 60Chester, PA2007 Comfort Suites60Lewisburg, PA2011 Staybridge Suites106Royersford, PA2009 Countryside Inn & Suites Bank Owned 118Breezewood, PA1972 Fairfield Inn & Suites111Millville, NJ2011 Total1,101

4 RECEIVERSHIP/MANAGEMENT SERVICES GCH is positioned to serve as the receiver and management company for a non- performing hotel. We currently operate two bank-owned hotels, one of which is a receivership. Our methodology is outlined below: Determine the best plan to minimize the loss to the bank or special servicer. Forbearance agreement, receivership in place Takeover of management (after obtaining waiver of lender liability) or foreclosure and eventual sale of the asset. Determine ability of the hotel or motor inn to service debt or generate cash flow in the short or long term. Assess condition of books and records, implement internal controls and cash handling procedures. Evaluate physical condition of the property relative to the competition and the amount of renovation needed to restore the hotel's competitive edge or maintain the current franchise affiliation. Determine whether the existing franchise is adequate for the market and the hotel

5 ASSET MANAGEMENT/WORKOUT SERVICES Gulph Creek Hotels addresses these issues by conducting the following steps: Receivership in Bankruptcy Management Operations Review Forbearance Agreement Franchise Evaluation In-Depth Financial Review Market Position Analysis Physical Review/Renovation Estimates Financial Projections Debt Restructuring Marketing Plan Critique Strategic Plan On-Going Management Review Foreclosure/Bankruptcy Strategy Establish Sale Price Disposition Strategy

6 WHY GULPH CREEK HOTELS? We will focus our attention on you, your asset and your concerns. 1.We wont just baby sit your hotel, we will secure and clean up the asset, drive revenues, streamline operations and maximize value. 2.Market leaders – your asset will be part of a highly competitive hotel portfolio. Three of our six hotels are #1 in their respective comp sets. 3.Hands on – we are a smaller owner-operated company with an owner serving as the single point of contact for you and the asset. 4.Well respected company – we are an approved Operator with all major brands – Marriott, Hyatt, IHG, Hilton, Starwood and Choice. Currently operate independent hotels. 5.Experienced – we are an experienced receiver with a strong takeover and distressed hotel management track record 6.Strategic partner – we bring strong valuation, market study and hotel consulting experience to support the best course of action for the asset Employees, $36 million annual revenue

Download ppt "Hotel Workouts and Receiverships Background and Qualifications Contact: Derek Sylvester, Principal (610) 687-9280"

Similar presentations

Ads by Google