 August
10, 2009 - The financial crisis and looming loan foreclosures are forcing
hotel owners to look for new solutions, or face losing their asset.
A very diversified and experienced group of hoteliers have created a
new Asset Management company, Maverick Asset Management, which offers expertise
in all disciplines of hotel operations, sales and marketing, revenue management,
food and beverage, real estate/financing, technology and capital project
management - all aimed at the interests of owners and lenders.
These Maverick partners offer credentials ranging from work with Ritz-Carlton,
Four Seasons and full service Independent Resorts, Starwood, Omni
and Marriott, as well as working with REITs, such as Sunstone Hotel Investors.
"Very few Asset Management firms have actually managed the revenues and
profits of hotel operations, resort restaurants, or even taking a
restaurant company through an IPO, as we have" commented Carl Bruggemeier,
principal and F&B anchor of the new firm. "Our careers have been
focused on the front line, not just in Board Rooms and that perspective
provides much needed value. Currently, owners and lenders are in
real need of viable solutions."
In conversations with individual owners, institutional investors, and
international investment funds, Maverick principal and former management
company CEO Randy Hulce, has clearly stated, "our diversified background
and real world track record is very appealing to those whose portfolios
are at risk where yesterday�s management solutions fall far short of meeting
today�s problems.�
Maverick Asset Management is currently negotiating multiple long-term
contracts that will be put in place in the fourth quarter of 2009. Maverick�s
principals are already involved in a number of individual work out and
start up projects in Food and Beverage. Additionally, a new restaurant
concept is being developed for rollout in 30 hotels; the launch of a new
Resort, Conference and Wellness Center and the structuring of the purchase
of a mortgage note for a major hotel in the southeastern part of the United
States. Each of these engagements provides opportunities for the
Maverick principals to leverage their individual expertise into total involvement
in the new firm.
"As a result of the current financial crisis with hotel assets, the
hospitality industry is in such a state of flux today, that our hands-on
approach to all aspects of hotel / resort performance is being welcomed,"
said John Capone, principal, from Austin, Texas. "Owners and even
brand management companies along with their local guidance teams, that
we are involved with, see the value in our approach. Maverick does not
simply analyze a P&L, it asks the right painful questions and knows
what The Answers should be," adds Capone.
Maverick�s unique approach goes well beyond desk top financial critique.
MAV is highlighted in the name to convey our core philosophy: Maximizing
Asset Value, through Experience, Research, Innovation, Communication and
Knowledge. "Our approach IS different," explained Jim Miller, principal
and sales/marketing specialist. "Our individual collective track record
shows that it works and gets results.� The five principals, now working
together, are totally focused on providing workable and profitable solutions
for owners and lenders who they know are currently experiencing serious
questions of pain in regard to their asset portfolios.
The laser-like focus of MAVerick is to secure long-term / multi-year
Asset Management agreements with individual and institutional owners /
lenders and investors. Mindful that owners may need Asset Management
in more short-term transition, disposition or recovery projects, the principals
of Maverick Asset Management are prepared to engage in any duration of
engagement to obtain the right answers for owners, investors or lenders.
About Maverick:
Maverick Asset Management, with offices in Southern California, Austin,
Orlando and Indianapolis, is a partnership of five hospitality industry
veterans: John Capone, Randy Hulce, Adam Christopher, Carl Bruggemeier
and Jim Miller. They offer expertise in hotel operations, sales and marketing,
revenue management, food and beverage, real estate/financing, technology
and capital project management - all aimed at the interests of owners and
lenders.
For more information, visit www.HotelMavericks.com.
Please contact Jim Miller at [email protected]
or at 603-512-7934, or any of the partners of Maverick Asset Management
for more information. |