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This is Jim Butler, author of www.HotelLawBlog.com and hotel lawyer. Please contact me at Jim Butler at jbutler@jmbm.com or 310.201.3526.

« November 2008 | | January 2009 »
Posted On: December 31, 2008 by the JMBM Global Hospitality Group®

Hotel Lawyers: What have we learned from "The Crash of 2008"? There are no shortcuts for due diligence!

For the most recent update on this topic, click here

By Jim Butler and the Global Hospitality Group®
Hotel Lawyers | Authors of www.HotelLawBlog.com
31 December 2008

Hotel Lawyers on lessons from The Crash of 2008.

2008 will go down as a terrible year in many regards. Global economies have come to the precipice of disaster. The Dow had its worst year since 1931 -- down 34% for the year, representing the loss of more than $7 trillion in wealth. Many trillions more evaporated from the value of both residential and commercial real estate. Consumer confidence is at its lowest point since they began keeping records. The unthinkable has happened with the fallen pillars of Bear Stearns, Lehman, Merrill Lynch, Freddie Mac, Fannie Mae and AIG. Even GE couldn't sell its commercial paper until the Fed stepped in to buy it. And then there is Bernard Madoff who bilked some of the most sophisticated investors in the world out an estimated $50 billion.

What was wrong with the mortgage mess, CMBS meltdown and Madoff?

Continue reading " Hotel Lawyers: What have we learned from "The Crash of 2008"? There are no shortcuts for due diligence! " »

Posted In: Global Financial Crisis & Recovery , Outlook and Trends

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Posted On: December 22, 2008 by the JMBM Global Hospitality Group®

CONDO HOTEL bankruptcies, workouts and turnarounds fill the headlines, the nightmares of lenders and the dreams of opportunistic investors. Part 2

For the most recent update on this topic, click here

By Jim Butler and the Global Hospitality Group®
Hotel Lawyers | Authors of www.HotelLawBlog.com
22 December 2008

Please see "troubled hotel loans - workouts, bankruptcies & receiverships" for the latest articles on troubled hotels.

Hotel Lawyers on bankrupt condo hotel projects. The landscape is littered with condo hotel bankruptcies, foreclosures, workouts and investment opportunities. But as lenders hasten to clean up their balance sheets, and as opportunistic investors prepare to profit from buying at condo hotel foreclose or bankruptcy sales, or buying deep discount condo hotel debt or underlying assets, they should pause one moment. Unless they ask the right questions before they "jump" into the unknown, they may find themselves in a financially disastrous situation -- at any price.

From experience gathered by our Global Hospitality Group®'s team of hotel lawyers in more than 100 condo hotel and hotel condo projects in the last 5 years, here are the balance of the 100+ questions to ask BEFORE foreclosing on or buying condo hotel assets.

Continue reading " CONDO HOTEL bankruptcies, workouts and turnarounds fill the headlines, the nightmares of lenders and the dreams of opportunistic investors. Part 2 " »

Posted In: Condo Hotels , Workouts, Bankruptcies & Receiverships

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Posted On: December 22, 2008 by the JMBM Global Hospitality Group®

CONDO HOTEL bankruptcies, workouts and turnarounds fill the headlines, the nightmares of lenders and the dreams of opportunistic investors. Part 1

For the most recent update on this topic, click here

By Jim Butler and the Global Hospitality Group®
Hotel Lawyers | Authors of www.HotelLawBlog.com
22 December 2008

Please see "troubled hotel loans - workouts, bankruptcies & receiverships" for the latest articles on troubled hotels.

Hotel Lawyers on bankrupt condo hotel projects. The landscape is littered with condo hotel bankruptcies, foreclosures, workouts and investment opportunities. But as lenders hasten to clean up their balance sheets, and as opportunistic investors prepare to profit from buying at condo hotel foreclose or bankruptcy sales, or buying deep discount condo hotel debt or underlying assets, they should pause one moment. Unless they ask the right questions before they "jump" into the unknown, they may find themselves in a financially disastrous situation -- at any price.

From experience gathered by our Global Hospitality Group®'s team of hotel lawyers in more than 100 condo hotel and hotel condo projects in the last 5 years, here are 100+ questions to ask BEFORE foreclosing on or buying condo hotel assets.

Continue reading " CONDO HOTEL bankruptcies, workouts and turnarounds fill the headlines, the nightmares of lenders and the dreams of opportunistic investors. Part 1 " »

Posted In: Condo Hotels , Workouts, Bankruptcies & Receiverships

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Posted On: December 22, 2008 by the JMBM Global Hospitality Group®

Hotel Lawyers: Restructuring distressed condo hotels - Part 3

For the most recent update on this topic, click here

Restructuring distressed condominium hotel projects and
workouts of defaulted condo hotel loans for profit opportunities now.
Hotel lawyer on failed condo hotel turnarounds, workouts, bankruptcies and opportunistic investment.

Part 3

By Jim Butler and the Global Hospitality Group®
Hotel Lawyers | Authors of www.HotelLawBlog.com
22 December 2008

Hotel Lawyers on restructuring distressed condo hotels. Restructuring distressed condo hotel projects and loans secured by them is moving to the top of the list for many lenders, owners and investors. Condo hotel deals are so complex and varied that there is no single "silver bullet" to take care of all problems. Combining JMBM's legal and business experience in advising on more than 100 condo hotel and hotel condo deals with a veteran condo hotel expert, here is a 3-part article to explain: Part 1: the background and structure of the typical condo hotel, Part 2: critical differences between condo hotel restructurings and those with traditional hotels, and Part 3: a unique approach to working out some troubled condo hotel projects.

Continue reading " Hotel Lawyers: Restructuring distressed condo hotels - Part 3 " »

Posted In: Condo Hotels , Workouts, Bankruptcies & Receiverships

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Posted On: December 21, 2008 by the JMBM Global Hospitality Group®

Hotel Lawyers: Restructuring distressed condo hotels - Part 2

For the most recent update on this topic, click here

Restructuring distressed condominium hotel projects and
workouts of defaulted condo hotel loans for profit opportunities now.
Hotel lawyer on failed condo hotel turnarounds, workouts, bankruptcies and opportunistic investment.

Part 2

By Jim Butler and the Global Hospitality Group®
Hotel Lawyers | Authors of www.HotelLawBlog.com
21 December 2008

Everyone needs to "share in the pain" required to effect a solution.

Hotel Lawyers on restructuring distressed condo hotels. Restructuring distressed condo hotel projects and loans secured by them is moving to the top of the list for many lenders, owners and investors. Condo hotel deals are so complex and varied that there is no single "silver bullet" to take care of all problems. Combining JMBM's legal and business experience in advising on more than 100 condo hotel and hotel condo deals with a veteran condo hotel expert, here is a 3-part article to explain: Part 1: the background and structure of the typical condo hotel, Part 2: critical differences between condo hotel restructurings and those with traditional hotels, and Part 3: a unique approach to working out some troubled condo hotel projects.

Continue reading " Hotel Lawyers: Restructuring distressed condo hotels - Part 2 " »

Posted In: Condo Hotels , Workouts, Bankruptcies & Receiverships

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Posted On: December 20, 2008 by the JMBM Global Hospitality Group®

Hotel Lawyers: Restructuring distressed condo hotels - Part 1

For the most recent update on this topic, click here

Restructuring distressed condominium hotel projects and
workouts of defaulted condo hotel loans for profit opportunities now.
Hotel lawyer on failed condo hotel turnarounds, workouts, bankruptcies and opportunistic investment.

Part 1

By Jim Butler and the Global Hospitality Group®
Hotel Lawyers | Authors of www.HotelLawBlog.com
20 December 2008

there is no single "silver bullet"

Hotel Lawyers on restructuring distressed condo hotels. Restructuring distressed condo hotel projects and loans secured by them is moving to the top of the list for many lenders, owners and investors. Condo hotel deals are so complex and varied that there is no single "silver bullet" to take care of all problems. Combining JMBM's legal and business experience in advising on more than 100 condo hotel and hotel condo deals with a veteran condo hotel expert, here is a 3-part article to explain: Part 1: the background and structure of the typical condo hotel, Part 2: critical differences between condo hotel restructurings and those with traditional hotels, and Part 3: a unique approach to working out some troubled condo hotel projects.

Continue reading " Hotel Lawyers: Restructuring distressed condo hotels - Part 1 " »

Posted In: Disasters , Workouts, Bankruptcies & Receiverships

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Posted On: December 17, 2008 by the JMBM Global Hospitality Group®

"Out of the Panic and into Opportunities of a Lifetime"

For the most recent update on this topic, click here

By Jim Butler and the Global Hospitality Group®
Hotel Lawyers | Authors of www.HotelLawBlog.com
17 December 2008

"Out of the Panic and into Opportunities of a Lifetime" Is Theme for the
19th Annual Meet the Money® Conference

Hotel Financing Summit Set for May 5-7, 2009

LOS ANGELES, Calif., December 16, 2008--With the recent announcement of a full-blown recession, officials of Meet the Money®, the annual hotel financing summit, today announced the theme for its 2009 conference: "Out of the Panic and into Opportunities of a Lifetime." The 19th annual event will be held May 5-7, 2009, at the Sheraton Gateway Los Angeles Hotel near LAX in California.

Continue reading " "Out of the Panic and into Opportunities of a Lifetime" " »

Posted In: Hotel Finance − Hotel Debt & Hotel Equity , Outlook and Trends

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Posted On: December 8, 2008 by the JMBM Global Hospitality Group®

Hospitality Lawyer: Troubled Hotel Loan Solution -- JMBM's SAVE® Program

For the most recent update on this topic, click here

By Jim Butler and the Global Hospitality Group®
Hotel Lawyers | Authors of www.HotelLawBlog.com
7 December 2008

Please see "troubled hotel loans - workouts, bankruptcies & receiverships" for the latest articles on troubled hotels.

Hospitality Lawyer with something that every Lender and every Borrower with a troubled hotel loan should look at: a solution to unlock value in underwater hotel loans. This is something unique and timely as hotel bankruptcies loom large, and Borrowers contemplate "handing the keys back" to the Lender.

There is a better way!

Continue reading " Hospitality Lawyer: Troubled Hotel Loan Solution -- JMBM's SAVE® Program " »

Posted In: Workouts, Bankruptcies & Receiverships

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Posted On: December 1, 2008 by the JMBM Global Hospitality Group®

Hotel Lawyer Marta Fernandez: Winning the Hearts, Minds and Loyalty of Your Workforce BEFORE the Union Comes Calling

For the most recent update on this topic, click here

By Jim Butler and the Global Hospitality Group®
Hotel Lawyers | Authors of www.HotelLawBlog.com
1 December 2008

Hospitality Lawyer with insights on "What you CAN do NOW" . . . before the pending Employee Free Choice Act is adopted and the unions come calling. Today we are going to talk about a monumentally important event facing the hotel industry, that is almost certain to happen with Barack Obama's election. It is something that will affect virtually every hotel in the United States, and there is probably a very limited window of a few months that you can do something that will have a long lasting benefit for your hotel. But you have to act very soon.

Continue reading " Hotel Lawyer Marta Fernandez: Winning the Hearts, Minds and Loyalty of Your Workforce BEFORE the Union Comes Calling " »

Posted In: Labor & Employment

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« November 2008 | | January 2009 »

About the Authors

Jim Butler

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Jim Butler is recognized as one of the top hotel lawyers in the world. He devotes 100% of his practice to hospitality, representing hotel owners, developers and lenders. Jim leads the Global Hospitality Group®—a team of 50 seasoned professionals with more than $60 billion of hotel transactional experience, involving more than 1,300 properties located around the globe.
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Robert Braun

Robert Braun is a partner in JMBM's Corporate Department and a senior member of JMBM's Global Hospitality Group® -- a team of 50 seasoned professionals with more than $60 billion of hotel transactional experience, involving more than 1,300 properties located around the globe. Bob represents owners in both transactional and operational issues. He advises clients with respect to business formation, financing, mergers and acquisitions, venture capital financing, joint ventures and strategic partnerships. He has represented hotel owners in the negotiation of several hundred management agreements, as well as spa management and franchise agreements. Bob also advises hotel owners regarding telecommunications, software, internet, e-commerce, data processing and outsourcing agreements. To read Bob's articles, go to www.HotelLawBlog.com and select "Management Agreements." For more information, please contact Bob Braun at 310.785.5331 or rbraun@jmbm.com.

Marta Fernandez

Marta Fernandez is a partner in JMBM's Employment and Labor Department and a senior member of JMBM’s Global Hospitality Group® -- a team of 50 seasoned professionals with more than $60 billion of hotel transactional experience, involving more than 1,300 properties located around the globe. As a management labor lawyer with more than 20 years of experience, Marta specializes in representing hospitality industry clients in all aspects of labor and employment including labor-management relations such as union prevention, collective bargaining for single as well as multi-employer bargaining units, neutrality agreements and defense of unfair labor practice charges before the NLRB. She defends employers in administrative and litigation claims, such as employee claims of sexual harassment and discrimination and counsels clients in preventative strategies such as executive training, arbitration enforcement, and policies and procedures. To read Marta's articles, go to www.HotelLawBlog.com and select "Labor & Employment." For more information, please contact Marta Fernandez at 310.201.3534 or at mfernandez@jmbm.com.

Catherine DeBono Holmes

Catherine DeBono Holmes is a partner in JMBM's Corporate Department and a senior member of JMBM’s Global Hospitality Group® -- a team of 50 seasoned professionals with more than $60 billion of hotel transactional experience, involving more than 1,300 properties located around the globe. Cathy assists hotel clients with hotel management and franchise agreements, purchase and sale transactions, and condo hotel regime structuring. She has taken hotel owners through complex RFP processes involving all the major hotel brands. She has significant expertise in condo hotels and advises clients in the specific business and legal aspects of condo hotel regime structuring and documentation, including CC&Rs, HOA docs, unit management agreements, shared facilities agreements, rental management agreement programs and securities compliance matters (structuring, documentation and training). To access Cathy's articles on www.HotelLawBlog.com, click on the topics "Condo Hotels" or "Green Hotels" For more information, please contact Cathy Holmes at 310.201.3553 or cholmes@jmbm.com.

Guy Maisnik

Guy Maisnik is a partner in JMBM's Real Estate Department and a senior member of JMBM's Global Hospitality Group® -- a team of 50 seasoned professionals with more than $60 billion of hotel transactional experience, involving more than 1,300 properties located around the globe. Guy's deep and broad transactional practice includes complex real estate finance and venture capital transactions, including project finance, commercial finance, leveraged leasing and real estate acquisitions. He assists clients with development, leasing and disposition, loan portfolio acquisitions, loan and debt restructure, workouts and real estate exchanges. Go to www.HotelLawBlog.com for current information in these areas. For more information, please contact Guy Maisnik at 310.201.3588 or mgm@jmbm.com.

David Sudeck

David Sudeck is of Counsel in JMBM's Real Estate Department and a senior member of JMBM’s Global Hospitality Group® -- a team of 50 seasoned professionals with more than $60 billion of hotel transactional experience, involving more than 1,300 properties located around the globe. David has significant experience in the vacation ownership arena, focusing on the formation and registration of condominiums, timeshares and fractional interest regimes. He negotiates hotel, spa and restaurant management agreements, and assists client in the development, acquisition, sale and leasing of hotels, golf courses and restaurants. For David's take on current issues in the timeshare arena, go to www.HotelLawBlog.com and click on the topic, "Timeshare." For more information, please contact David Sudeck at 310.201.3518 or dsudeck @jmbm.com.

Robert Kaplan

Robert Kaplan is a partner in JMBM's Bankruptcy, Insolvency and Restructurings Group and a senior member of the Global Hospitality Group® -- a team of 50 seasoned professionals with more than $60 billion of hotel transactional experience, involving more than 1,300 properties located around the globe. Bob represents lenders, special servicers, hard money lenders, community banks, national banking associations, distressed debt investors, and equity investors, positioning them for the best possible outcome by acting expeditiously to preserve value and increase cash flow. His industry experience and his knowledge of the current capital markets -- where distressed assets often include complex deal structures and securitized loans -- allows him to bring creative and effective strategies to the table. When aggressive litigation is the best strategy, he is a vigorous and effective advocate for his clients. Bob represented the securitized lender in the Chapter 11 bankruptcy case filed by the Clift Hotel in San Francisco, and in the subsequent negotiations and successful sale of the loan to a third party. The lender -- acting by and through GMAC Commercial Mortgage Corporation as special servicer -- was the holder of a $60 million loan secured by a Deed of Trust on the Clift Hotel. He has also served as counsel to CapMark, J.E. Robert Company, Inc., AMRESCO Management Inc. and Midland Loan Servicer in their capacity as special servicers on troubled hotel loans in CMBS pools. For more information, contact Robert Kaplan at 415.984.9673 or rkaplan@jmbm.com.

Martin Orlick

Martin Orlick is a partner in JMBM's Real Estate Department and a senior member of JMBM's Global Hospitality Group® -- a team of 50 seasoned professionals with more than $60 billion of hotel transactional experience, involving more than 1,300 properties located around the globe. Marty specializes in representing hospitality industry clients in Americans With Disabilities Act (ADA) compliance and defense. He has represented more than 300 businesses in ADA issues, many of them hotels and restaurants, as well as hotel mixed-use properties. Marty is a member of the American College of Real Estate Lawyers (ACREL) and a frequent speaker on the ADA and other topics. To read Marty's articles, go to www.HotelLawBlog.com and select "ADA." For more information, please contact Marty Orlick at 415.984.9667 or morlick@jmbm.com.

James Abrams

James Abrams has significant experience in government affairs at the national level, the state level – including the California Legislature and scores of state agencies – and with local governments and agencies. He has authored successful ballot measures and scores of bills for his clients. Jim served as the President and CEO of the California Hotel & Lodging Association from January 1, 1991 through December 31, 2008 and is currently an adjunct professor in the Hospitality Industry Management Program at the University of San Francisco. He is a frequent speaker and writer on all aspects of the law relating to the lodging and hospitality industries, and he is the author of the book Laws Pertaining to the California Innkeeper, which is published by the California Hotel & Lodging Association. To read Jim’s articles, go to www.HotelLawBlog.com. For more information, please contact Jim Abrams at 415.398.8080 or jabrams@jmbm.com.

Eudeen Chang

Eudeen Chang is a lawyer in the Litigation Department of JMBM's Orange County office and a member of the Global Hospitality Group®. He represents hotels in a variety of litigation matters, including ADA defense. He is well-versed in all aspects of litigation, from pre-lawsuit strategizing to trial, post-judgment collection and through appeal. He also serves as outside general counsel for a number of small and mid-sized companies and high net-worth individuals. Contact Eudeen at EChang@jmbm.com or 949.623.7232.

Victor Shum

Victor Shum is a corporate and securities partner in JMBM's Corporate Department and a member of JMBM's Global Hospitality Group® and Chinese Investment Group™. He has advised clients on EB-5 matters since 1999 andassists hotel developers on EB-5 financing as well as public and privatesecurities, mergers and acquisitions, cross-border issues, and otherstrategic business transactions, including real estate transactions andintellectual property and technology licensing matters. For moreinformation, contact Victor Shum at 415.984.9611 or vshum@jmbm.com.

Scott Brink

Scott Brink is a senior member of JMBM's Global Hospitality Group® anda partner in JMBM's Labor & Employment Law Department. Scott is amanagement labor lawyer with more than two decades of experiencerepresenting employers in all aspects of labor relations and employmentlaw including union prevention, collective bargaining negotiations,defense of unfair labor practice charges before the NLRB, wrongfuldischarge litigation, individual and class action employmentdiscrimination and wage-and-hour claims, sexual-harassment litigation,arbitrations, personnel policies, California wage and hour law, andemployee discipline and discharge. An experienced trial attorney, Scotthas litigated a number of high-profile and complex cases involving awide range of labor and employment law matters. For more information,contact Scott Brink at RSB@jmbm.com or 310.785.5365.

Global Hospitality Group®
1900 Avenue of the Stars
7th Floor
Los Angeles, CA 90067
Direct: (310) 201-3526
Direct Fax: (310) 712-8526
E-mail: jbutler@jmbm.com

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Ask The Hotel Lawyer ™

Ask the Hotel Lawyer™ is a quarterly column that I write for JMBM's Global Hospitality Advisor®. If you have a question you would like to submit to Ask the Hotel Lawyer™ please use the comments box below. While your question may not be of sufficient general interest for the column, I will try to respond to you individually if you leave your contact information below. Jim Butler.