News for the Hospitality Executive
FL, December 14, 2006 - Alvarez & Marsal Real Estate Advisory Services,
LLC, an affiliate of the independent, global professional services firm
Alvarez & Marsal, announced it has formed a dedicated hospitality asset
management team to provide performance improvement and value enhancement
services to developers, capital sources, and operators involved with complex
real estate projects, such as hotelcondominiums.
Led by Chuck Bedsole, managing director and head of the firm's hospitality group, the asset management team is currently serving as an exclusive provider of hospitality asset management services for new luxury hotel-condominium properties in South Florida and also has an extensive background working with a range of hospitality projects in Latin America and the Caribbean.
"While the hotel asset management concept has existed for some time, the complexity of new mixed-use developments with substantial hospitality components has created a situation where there are very few asset managers that are able to offer the experience and sophisticated services necessary to meet the demands of these projects, particularly those associated with large scale, hotel-condo developments," said Mr. Bedsole.
Mr. Bedsole noted that hotel-condominium projects are among the most complex real estate assets to operate, manage and market. As a result, he says, an increasing number of developers are taking a highly strategic, forward looking approach toward this challenge by implementing formal asset management programs with an eye toward optimally managing the properties and maximizing their value over the long term. He adds that given the number of new hotel condominium developments in the pipeline, developers, capital sources, and even operators are likely to need services from asset managers experienced in large scale, hotel-condo developments going forward.
"Not only does A&M have a long track record advising clients throughout the United States, Europe and Latin America, the firm has significant hands on experience in the areas of finance, operations and marketing as well as extensive market knowledge and experience working on a variety of property types," he added. "This unique combination made forming a dedicated hospitality asset management team a natural evolution for our practice."
Alvarez & Marsal Real Estate Advisory Services, LLC For more than 20 years, Alvarez & Marsal (A&M) has set the standard for working with organizations to solve complex problems, boost performance and maximize value for stakeholders.
Alvarez & Marsal Real Estate Advisory Services, LLC, an A&M affiliate, advises owners, investors, lenders, and users of real estate throughout the real estate lifecycle.
Building on a distinctly operational heritage and hands-on approach, Alvarez & Marsal Real Estate Advisory Services works closely with clients to develop and execute sophisticated real estate strategies aimed at improving operations, unlocking value or minimizing risk. Services include: Restructuring Advisory; Litigation Advisory; Strategy and Operations Consulting; Corporate Finance; Transaction Services; Public Sector Advisory; Hospitality Advisory; and Latin America Advisory.
For more information, visit www.alvarezandmarsal.com.
Embree C. "Chuck" Bedsole
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