Washington DC, January 20, 2009 - Today REVPAR
International, a leading hospitality advisory and asset management firm
with a strong track record of improving asset value for clients, launched
a group of specialized services to help Lenders, Lawyers,
Loan
Servicers and other industry professionals weather this economic climate
and position themselves for the coming rebound and up-cycle.
�Our new L3 services are specifically
designed to give Lenders, Lawyers, Loan Services,
among others, an edge in dealing with hospitality assets during these challenging
times,� said Rick Pastorino, Managing Director of REVPAR International
in making the announcement. �Based on our long standing reputation for
providing informed, reliable, and conflict-free advice, we are experiencing
immediate traction for this group of services.�
�REVPAR delivers optimal recommendations
and outcomes to our existing clients, as well as to those who are new to
the �down� cycle of our industry,� says Randy Carroll, who spearheads asset
management at REVPAR International. �The L3 services
rely on our traditional areas of expertise but have been refocused and
tailored to provide essential triage services to industry stakeholders
in an effort to minimize the pain and suffering, and improve the financial
outlook of the client�s hotel assets,� continues Mr. Pastorino. �Just
as important, given that we are independent from all the stakeholders,
we can provide the client with unbiased objective counseling,� remarks
Mr. Carroll.
Hotel owners, operators, lenders, loan servicers,
pension funds, insurance companies, private equity groups, and government
agencies with assets in the U.S., Caribbean, Europe, and Asia are some
of the key industry stakeholders who currently benefit from REVPAR�s asset
management and advisory services.
The company�s L3 services encompass
all facets of hotel operations including operational reviews, reorganizations,
asset management, work-outs, insolvencies, liquidations, refinancing, and
capital needs for distressed hospitality real estate or loans.
�No one wants to appear distressed. Our knowledge
of all facets of the hotel asset, including the physical plant, operations,
capital structure, and associated contracts and agreements that allow the
hotel to function, are key value drivers and allow us to craft the best
course of action for the client and maximize the inherent value of the
asset,� according to Mr. Pastorino. �We work side by side with the other
professionals to ensure our client�s interests are maximized.�
The L3 services provided
by the REVPAR team include:
-
Comprehensive and effective hotel asset management
and operational review services with best practice recommendations that
include monitoring of on-site operations from the perspective of loan security
and collateral protection.
-
Acquisition, disposition, hypothecation, and securitization
of existing loans including due diligence, contract negotiation, and settlement.
-
Expert witness for attorneys relative to hotel operations,
strategic plans, valuations, workouts, changes in management, and more.
-
Advise in the event of loan defaults, bankruptcies,
reorganizations, receiverships, orderly liquidations, and other insolvency-related
matters.
Lower Costs |
Improve Loan Standing | Identify New Revenue
-
Assess hotel operating performance and research variances
to enhance revenue, judiciously lower costs, and ensure maximum profitability.
-
Identify and exploit new revenue opportunities to
the benefit of borrowers and lenders.
-
Establish performance benchmarks, measure results
and report to lender.
-
Recommend to L3 partners the reasonableness
of borrower�s proposed management and/or franchise affiliation and the
terms thereof.
Expert Hospitality Industry Knowledge and Relationships
-
Represent L3 partners in dealings with hotel
operators, franchisors, governmental agencies, community groups, and suppliers.
-
Ensure and optimize compliance with loan requirements,
management contracts, franchise agreements, and property improvement plans.
-
Prepare, evaluate and make recommendations
relative to borrower�s proposed repositioning of hotel asset through rebranding,
renovation, and/or expansion.
-
Assist in loss negotiations with public and
independent insurance adjusters, in the event of subrogation or foreclosure.
For more information and to find out how REVPAR
can help optimize your hotel investments during these turbulent times,
please call Rick Pastorino or Randy Carroll at 703.838.9707 or email [email protected]
or [email protected].
About REVPAR International
 Founded
in 1992, REVPAR International is one of the hospitality industry�s oldest
and most highly regarded boutique consulting firms. Their dedicated team
has successfully completed thousands of assignments throughout the United
States, Caribbean, Europe and Asia. REVPAR is the insider�s recommendation
to owners and developers by major hotel brands for a wide array of advisory
services. The consultants of REVPAR International each have extensive
operational backgrounds in addition to their advisory experience.
In 2007, REVPAR merged with Lazer Lodging Asset Management, a well-known
third-party hotel asset management company founded by Randall Carroll,
former SVP of Real Estate & Asset Management for MeriStar Hospitality
Corporation, which was taken private by Blackstone Group in early 2006.
The merger of REVPAR and Lazer created a unique, full-service advisory
and asset management platform serving the needs of owners and lenders with
hotels, resorts, timeshare, fractional and other leisure realty interests.
To learn more about REVPAR International, please visit their website at
www.revparintl.com.
|