Articles Posted in Condo Hotels

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

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.

Published on: December 21, 2008

Hotel Lawyers: Restructuring distressed condo hotels – Part 2

Part 2

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.

Published on: October 21, 2008

Hospitality Lawyer: The 5 biggest misconceptions about Condo Hotels

21 October 2008

Hospitality Lawyer on Condo Hotels. Do they work? Are they viable? What are the 5 biggest misconceptions about Condo Hotels?

“Condo Hotels” — they are a subject the media “loves to hate.” Everyone has an opinion about them — whether they know anything about them or not. JMBM’s Global Hospitality Group® has worked on more than 100 hotel mixed-use projects in the last 5 years alone, most of them involving condo hotels or hotel condos. Funny. Almost all the ones JMBM’s hotel lawyers work on really “work” and don’t make the headlines.

So with all the critical (and often uninformed) press lately, it was really great to see Brent Howie of Provident Hotels & Resorts — one of the 30-year veterans of the condo hotel industry — write a “no nonsense” article de-bunking the 5 biggest myths about condo hotels. I thought I would share it with you and lend our endorsement to its theme (and to the kind of support Brent gives these projects). Brent Howie can be reached at 727-726-4770 or bhowie@prov.com.

Published on: December 11, 2006

Hospitality Lawyer Baja Mexico — So what’s a brand? How did Trump get into this conversation?

Author of www.HotelLawBlog.com
11 December 2006
Hospitality Lawyer Baja Mexico. He’s done it again if you believe the AP Wire reports. On Saturday, December 9, 2007, the Associated Press reported that, “Donald Trump’s new luxury hotel-condominiums on Mexico’s booming Baja California coast registered about $122 million in sales Friday, potentially heralding a resurgent development boom along the Pacific shoreline, just south of the U.S. border.”

I’ve noted in prior postings that Baja is red hot, and that Trump has become a brand. So what is noteworthy about this latest development?

Published on: December 5, 2006

Condo Hotel Lawyer — What is fanning the condo hotel wild fire in Latin America, the Caribbean, Europe, China, India and the Middle East?

Author of www.HotelLawBlog.com
5 December 2006

Condo Hotel Lawyer: In my last two postings on www.HotelLawBlog.com, I have been reviewing where the condo hotel phenomenon is today and where its going, and what drives success in condo hotel projects. While there are a lot of reasons that condo hotels make sense and have an enduring legacy, the wildfire that has been burning in the U.S. for the past 5 years is now pulsing out in all directions. What has caused the condo hotel craze to spread to Latin America, the Caribbean, Europe, China, India and the Middle East? And why is anyone looking to emulate the state of the art developed over the past 5 years in the U.S.?

Published on: December 4, 2006

Condo Hotel Lawyer — Las Vegas Report: What drives successful sellouts today?

Author of www.HotelLawBlog.com
4 December 2006

Condo Hotel Lawyer in Las Vegas. As I reported yesterday in my www.HotelLawBlog.com, the big crowd at IMN’s condo hotel symposium in Las Vegas last week — more than 550 people — was impressive with a lot of the top players. The symposium delegates included a lot of experienced developers, looking to start their first condo hotel project, or looking to take hotel-enhanced mixed-use to the next level. If you missed my “Las Vegas Report from IMN Condo Hotel Conference,” please start there. Today, we move on to explore what makes a condo hotel project successful.

Published on: December 3, 2006

Condo Hotel Lawyer — Las Vegas Report from IMN Condo Hotel Conference

Author of www.HotelLawBlog.com
3 December 2006
Condo Hotel Lawyer Las Vegas. The Condo Hotel Symposium just ended was a good show. I have to hand it to IMN — more than 550 people gathered to hear insights from the industry’s leaders and experts on this increasingly important technology. They may also account for a big surge in traffic at www.HotelLawBlog.com as more people have come to study the wealth of free information on Condo Hotels (scroll down the right hand side and select articles by Topic). If anything, the conference confirmed all my observations made on November 28, as I was heading to Las Vegas (see, “Condo Hotel Lawyer — What in the world is going on with condo hotels now?“), but I have some potentially interesting refinements and further observations inspired by the meeting.

Here are the highlights of these further ruminations . . .

Published on: November 28, 2006

Condo Hotel Lawyer — What in the world is going on with condo hotels now?

Author of www.HotelLawBlog.com
28 November 2006

Condo Hotel Lawyer Las Vegas. On November 30, 2006, I will be participating in the first two opening general sessions of IMN’s Symposium on Financing, Developing and Operating Condo Hotels at the Mirage in Las Vegas, Nevada. This will be an interesting opportunity to compare notes and take the current pulse of the industry. Is the bloom off the rose? Can condo hotel deals still be done? Where is the opportunity now? How do you capture it? What are the pitfalls? How do you make a condo hotel deal work today?

Why are more than 550 people coming to a condo hotel symposium in late 2006??? Obviously there is a huge continuing interest in the condo hotel phenomenon, but is the model sustainable in the current environment? Unless there are unique features, great sponsorship and market validation? Where are we? What is happening?
CONTINUE READING →

Published on: November 12, 2006

Hospitality Lawyer — Trump’s luxury residential mixed-use project in Hawaii sells out in 8 hours. New sales record claimed.

Author of www.HotelLawBlog.com
12 November 2006

Hotel Lawyer on How to have a blow out of hotel-enhanced residential mixed-use. Donald Trump seems to find himself surrounded by controversy — whether it involves his giant kiosk in Chicago, his huge American Flag at his Mar-a-Lago Club in Palm Beach or his big “hole” in Manhattan’s Soho. But whatever you think of the man, you have to be impressed by the latest demonstration of his brand power at the Trump International Hotel & Tower in Waikiki. According to the story by Allison Schaefers in Saturday’s Honolulu Star Bulletin, Trump and his Los Angeles-based partner, Irongate, set a new world record for residential development sales — selling more than $700 million of luxury units in just 8 hours, and selling out all 464 hotel suites and residences in the first day of what had been planned as a two-day sales event.

The Trump-Irongate sell out surpassed what is claimed to be the prior record established by Intrawest last December when it sold $425 million, comprising 318 units, of the first phase of hits Maui resort development. What does this mean?

Published on: November 12, 2006

Hospitality Lawyer — New model for Condo Hotel regulation? In lieu taxes?

Author of www.HotelLawBlog.com
12 November 2006
Condo Hotel Lawyer on “in lieu taxes.” On November 7, 2006, the voters did more than put the Democrats in power in Washington, D.C. In Indian Wells, a wealthy desert resort community near Palm Springs, California, a 82.48% landslide vote approved Indian Wells Measure P — a condo hotel tax. Some think that the Indian Wells measure will serve as a model tax for the country. Others just fear it will stifle development and spread nationwide like a virus.