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

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

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

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  1. Hotel Workouts and ReceivershipsBackground and QualificationsContact:Derek Sylvester, Principal(610) 687-9280DSylvester@gulphcreekhotels.com www.gulphcreekhotels.com

  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 2007. Sold in November 2010. • 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 www.gulphcreekhotels.com

  3. CURRENT MANAGED HOTELS PORTFOLIO www.gulphcreekhotels.com

  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 www.gulphcreekhotels.com

  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 www.gulphcreekhotels.com


  6. WHY GULPH CREEK HOTELS? We will focus our attention on you, your asset and your concerns. • We won’t just baby sit your hotel, we will secure and clean up the asset, drive revenues, streamline operations and maximize value. • 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. • Hands on – we are a smaller owner-operated company with an owner serving as the single point of contact for you and the asset. • Well respected company – we are an approved Operator with all major brands – Marriott, Hyatt, IHG, Hilton, Starwood and Choice. Currently operate independent hotels. • Experienced – we are an experienced receiver with a strong takeover and distressed hotel management track record • Strategic partner – we bring strong valuation, market study and hotel consulting experience to support the best course of action for the asset. • 350 Employees, $36 million annual revenue www.gulphcreekhotels.com