15 April 2009
Hotel Lawyer with questions, and perhaps some guidance, on how we make this all work. Today, the Fed announced that for the first time in 50 years, the US economy has experienced deflation. According to the Wall Street Journal, the Labor Department reported that the March consumer-price index slipped 0.4% below its year-earlier level — the first decline in more than 50 years.
14 April 2009
Please see “troubled hotel loans – workouts, bankruptcies & receiverships” for the latest articles on troubled hotels.
Hotel Lawyer: Hotel borrower dilemma: the note is in default or coming due. Do you fight the land war in Asia or find a way to make love (not war)? This is the first article in a series of two about how lenders and borrowers need to work outside the box to accomplish their objectives in this down market. Today’s article focuses on the borrower perspective, and the next one will be on the lender perspective. I encourage lenders to read this article, and borrowers to read the lender article. There is a win-win here for many players. We have some ideas you may never have considered before.
6 April 2009
Ask the Hotel Lawyer™: What can we learn from the bedbug story? Bedbugs have plagued the hospitality industry for centuries and seem to be making a resurgence.
But there is an iconic story about a “bedbug letter” which is also instructive on the importance of treating people with respect and dignity, and the embarrassment (and financial costs) “important people” can cause to their colleagues and their companies when they forget these lessons.
Here’s the story, as told by Hotel Lawyer Robert Braun for www.HotelLawBlog.com readers, and a real life lesson from last week.
2 April 2009
Please see “troubled hotel loans – workouts, bankruptcies & receiverships” for the latest articles on troubled hotels.
How do you terminate a long-term hotel management agreement or HMA? The hotel bankruptcy trump card. This is an increasingly popular question regularly put to the hotel lawyers of JMBM’s Global Hospitality Group®.
29 March 2009
Click here for the latest articles on ADA Compliance and Defense.
Hotel Lawyer and Timeshare Lawyer in Orlando at the ARDA Conference.
Hotel Lawyer: Exit strategies of repositioning can create ADA issues you need to watch. Timeshare lawyer David Sudeck is in Orlando at the ARDA Conference right now, comparing notes with others in the timeshare business. Many see conversion of hotel or condo projects to timeshare as an alternate exit strategy for their investment, but are missing some important issues, as he writes for www.HotelLawBlog.com.
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.
18 March 2009
Hotel Attorneys with a potentially critical tip for owners and lenders — instantly increasing your hotel’s cash flow. It is often overlooked. Who says “There Is No Such Thing As a Free Lunch” (“TINSTAFL”) ?
Hotel attorneys know that times are tough and getting tougher. Moody’s Economy.com and PKF are now projecting a deeper and more extended downturn and a more delayed recovery. Hotel Lawyer with new data from Moody’s Economy.com and deteriorating projections for the lodging industry. and Jim Butler quote in USA today More hotels are facing foreclosure, bankruptcy.
So here is a rock-solid tip that could instantly boost cash flow for savvy borrowers and lenders who qualify. This will be particularly valuable to hotels bought or built in the last 5 to 10 years . . . or maybe longer.
17 March 2009
Hotel bankruptcies, restructurings, and receiverships are likely to increase substantially before things get better. That’s the conclusion the hotel lawyers at JMBM’s Global Hospitality Group® reach with new data released by Moody’s Economy.com and new projections from PKF Research.
Here are the headlines
10 March 2009
Hotel Lawyer with the new standards for rating hotels in Italy. Why should we care?
Many travelers refer to the AAA or Mobil ratings for hotels and restaurants for reliable information about the quality of an establishment. As most folks know, AAA uses the diamond rating system and Mobil uses the star rating system.
While these tried and true rating systems are unlikely to be replaced anytime soon, I was fascinated to receive a recent message from a lawyer friend in Italy. It talked about the new star rating system recently promulgated by the Italian government on February 11, 2009.
Here’s the scoop …
9 March 2009
Hotel Lawyer with an update on the latest legislation and proposals affecting the lodging industry from hotel lawyer Jim Abrams.
What happens in Vegas may stay in Vegas, but what happens in California spreads like wildfire. That’s why the lodging industry tends to pay such close attention to what is brewing in the California legislature. So, “heads up!” The California legislature is back in session. A number of new laws have already taken effect and a lot of bills are in the hopper. The City of Anaheim (home of Disneyland) has hit Internet travel providers with a whopping TOT bill.
This article by Jim Abrams will tell www.HotelLawBlog.com readers about these and other developments facing the lodging industry in California and quite probably beyond the state’s boundaries.
