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Special Servicer seeking to protect the loan balance and maximize resort value with minimal capital investment by appointing hotelAVE as Receiver.

hotelAVE was appointed Receiver, then REO Asset Manager post UCC foreclosure sale during which period we worked with Four Seasons to improve the asset and operations

Plan of Action

  • Upon takeover, closed out mechanic liens and completed capital projects in process
  • Established new business plan to grow group demand
  • Comprehensive expense benchmarking after bifurcating hotel and club operations to identify opportunities
  • Engaged golf club advisor to assist in restructuring club operation and grow membership

hotelAVE Results

  • Improved EBITDA by Over 50% During 3.5 Year Hold Period
    • Grew group business and future pace, achieving 30% growth, exceeding prior peak
    • Redeployed sales team
    • Reduced operating costs by $1M annually
    • Identified resort fee opportunity monetized by subsequent buyer
  • Restructured Club Operation and Grew Membership
  • Successful Disposition
    • Achieved 13.2% unlevered IRR during REO term via operational enhancements and identified upside opportunities.

Key Contact

Michelle Russo

Founder & CEO