News for the Hospitality Executive
National Hospitality Holdings LLC Successfully Completes $1.4 billion,
32 Hotel Advisory and Asset Management Assignment
NHH remains the preferred advisor, asset manager and management company of choice
PHILADELPHIA – (May 5, 2010) – National Hospitality Holdings LLC (NHH), a diversified, fully integrated, hospitality investment platform, has successfully completed a three-and-a-half-year, $1.4-billion advisory and asset management assignment.
In its capacity as advisor and asset manager, NHH performed debt and equity analysis, monthly asset management duties and strategic customized disposition options on 32 domestic U.S.-based hotels with 9,633 rooms.
“NHH improved reporting, opened lines of communication between owner and manager and aligned interests of both manager and owner in these tumultuous times,” said John J. DePaul, President and CEO. “Not a month passed that we were not having discussions weekly, sometimes daily, on how to best weather the downturn,” added DePaul.
NHH automated reporting established additional industry benchmarking and maintained an open relationship with the equity partner and the operator, always looking for ways to increase revenue and curtail unnecessary spending. During the course of the assignment, NHH advised on the successful disposition of nine hotels.
For the past four years, NHH has represented equity partners, banks, pension funds, pension fund advisory firms, servicing companies and city agencies on the state of the hotel industry. Opinions of value, REO management, consultancy and strategic alternatives and holds have been the company’s focus. “All we do is hospitality,” added DePaul. “A focused, customized, action-oriented approach is our specialty.”
NATIONAL HOSPITALITY HOLDINGS LLC
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|NHH Hotels & Resorts Introduces Café Zest; A brand new restaurant concept redefines hotel dining at two exceptional properties / October 2009|
|NHH Hotels & Resorts Announces Completion of $8 Million Renovation at Embassy Suites Pittsburgh-International / September 2009|