Asset Management / Foreclosure to REO
Mansion on Peachtree
- Assisted with foreclosure of the property under the first mortgage.
- Managed all transition issues including cash flow, employees, insurance, liquor license, cash flow, and assisted in negotiation of settlement agreement with Borrower.
- Increased RevPAR by 100% and the RevPAR Penetration Index by 132%. Relative to its competitive set, the hotel became positioned as the RevPAR leader.
- Grew the hotel's corporate negotiated account business by about 280%; signed an additional 100 accounts.
- Re-deployed sales staff and increased group and banquet revenue by 260% and 158%, respectively.
- Assisted in re-engineering the spa operation, turning it into a profitable department.
- Introduced cost-containment initiatives which saved the hotel approximately $600K in 2009.
Read hotelAVE’s asset management success stories at the Doral Tesoro or Austin Marriott hotels or learn about hotelAVE’s Asset Management services.