|
October 18, 2010 - Duxbury, MA. Jed C. Heller, President of The Providence Group, LLC, a Massachusetts-based full service hospitality management company, announced today that the company is continuing its focus on helping financial institutions, lenders and owners address troubled hotel assets. Founded in 2005, The Providence Group launched its Distressed Hotel Management Program in 2009 to help owners stabilize operations, reduce risks, identify opportunities, and position the property to ensure optimal value of the asset. "Everyone in the hospitality industry had hoped that the economy would have turned around by now, but it's clear that a significant rebound is a long way off," said Heller. "It's more important than ever to understand the value of the asset and take steps to minimize any financial drain on the investors and owners." The Providence Group recently completed an engagement with Premier Equity Fund (Victor, NY) to review and analyze distressed hotel opportunities and formulate a strategic plan moving forward. Heller noted: "This is the upside of any down market. Through our distressed hotel management program, we also identify opportunities that can be bought at a large discount and can be turned around." "Jed Heller's analysis was informative, to the point, and addressed
all of the pertinent issues," said Scott Thon, Premier Equity Fund's Managing
Director.
|
About
the Providence Group, LLC