The main goal of hotel receivership is to secure and stabilize a hotel to protect the value of the asset. This is accomplished by making management and other necessary physical and operational changes to enhance the hotel’s profitability and cash flow, thereby increasing the property’s value.
At Veracity Hospitality, our services include reviewing receivership orders, court appearances, and pre- and post-takeover service and tax assistance. We are sensitive to lenders’ and servicers’ liability concerns and we are familiar with what needs to be achieved in positions of negotiated handovers, foreclosure, bankruptcy and deed-in-lieu. Prior to a transition of a property, our team takes great strides to understand the situation of the asset and collect the necessary materials.
Veracity Hospitality’s hotel receivership specialists are available to discuss your property’s unique situation. Specifically, we will review budget preparation, cash flow analysis, internal control, financial constrains and inventory control.