18 June 2010
Hotel Lawyer with lessons from the past on why this is the best time to be lending on hotels
Having recently assisted 3 major lenders design their hotel lending programs and hotel loan documentation, the hotel lawyers in JMBM’s Global Hospitality Group® believe that now is the best time for hotel lending in 20 years. My partner, Guy Maisnik, and I thought you might like to know why we believe this is true. So, here’s why.
07 February 2010
Please see “troubled hotel loans – workouts, bankruptcies & receiverships” for the latest articles on troubled hotels.
Hotel Lawyer with tips for lenders on defaulted California mortgages. California now leads the nation in defaulted mortgages for hotels and commercial real estate. As lenders start to review their options, they must formulate asset plans that will avoid violating California’s tricky one action and anti-deficiency rules, or they may be in for some nasty surprises.
19 March 2009
Hotel Lawyer with some potentially good news for our bad economy
Last week I had a conversation with one of the country’s top CMBS special loan servicers, who happens to also be a friend as well as a good client. We were talking about dealing with some of his company’s increasing volume of assets under “special servicing” and the difficulties presented by REMIC regulations.
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.
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.
16 November 2008
Please see “troubled hotel loans – workouts, bankruptcies & receiverships” for the latest articles on troubled hotels.
Hospitality Lawyer: Turnarounds, workouts, receiverships, bankruptcies and deeds in lieu for troubled and defaulted hotel mortgage loans. As the bad news continues from the Global Financial Crisis, and as the recession bites deeper, the hotel industry is starting to feel the pain.
15 November 2008
Please see “troubled hotel loans – workouts, bankruptcies & receiverships” for the latest articles on troubled hotels.
This is one of many articles on the subject of “troubled hotel loans – workouts, bankruptcies & receiverships” in the rich library at www.HotelLawBlog.com.
Hospitality Lawyer: Turnarounds, workouts, receiverships, bankruptcies and deeds in lieu for troubled and defaulted hotel mortgage loans. As we all fasten our seat belts for a rough ride in the Global Financial Crisis, commercial real estate has begun to feel the pain. Hotels will share the fate of the economy, commercial real estate, the airlines and consumer confidence. It does not look pretty.
3 November 2008
Hotel Lawyer in Dallas, Texas at the Fishing for Solutions conclave of special servicers and hotel mortgage loan default SWAT teams. JMBM has been privileged to sponsor and take a significant role for many years in Steve Van’s unique conference celebrating its 8th anniversary in Dallas this week. Steve and his hotel management companies — Prism Hotels & Resorts (the company for managing good, healthy hotels) and REMIC Hotels (the company for managing bad, distressed hotels) — dominate the hotel industry in terms of managing troubled hotels for lenders who appoint receivers, get bankruptcy trustees and take back troubled hotels. In the last few years, Steve has broadened his scope to include more traditional bank and other commercial hotel lenders and investors with troubled hotel assets. And of course Prism does an excellent job of managing the “good hotels” for Steve’s own account, his investors, and many discerning owners (including some of JMBM’s referred clients.)
Here are my thoughts from tonight’s reception . . .
30 October 2008
Please see “troubled hotel loans – workouts, bankruptcies & receiverships” for the latest articles on troubled hotels.
Butler’s Matrix: the Hospitality Lawyer’s analytical tool for lender decisions on hotel mortgage loan defaults — workouts, receiverships, deeds in lieu or bankruptcy.
OK. You handle troubled real estate loans for a lender. You are in special servicing or special assets. A troubled hotel loan comes on your screen. You know that hotel loans are different, and you have just brushed up on the Dos and Don’ts of troubled hotel loan workouts. You have done your Comprehensive Situation Analysis so that you have all the relevant business and legal information you need to make a decision, and you have even mulled over the Lender Alternatives for a Troubled Hotel Loan. But you think that there must be another way to get your arms around this situation to make a decision on which way to go . . . And there is. It’s Butler’s Matrix for choosing Lender Alternatives in troubled hotel mortgage loan workouts and defaults. . .
30 October 2008
Please see “troubled hotel loans – workouts, bankruptcies & receiverships” for the latest articles on troubled hotels.
Advice from Hospitality Lawyer: Options and considerations in troubled hotel mortgage loans for lenders and borrowers.
When a hotel loan gets in trouble, a lender should immediately perform a Comprehensive Situation Analysis. (See Hospitality Lawyer – The “Comprehensive Situation Analysis” for troubled hotel loans and workouts). This is the foundation for making some of the most important decisions that the lender will face on what to do with the borrower and the loan. The borrower should also look at these considerations to formulate its strategy to accomplish its goals. So what are the alternatives for dealing with a troubled hotel loan, and what are the considerations each party has?