2 February 2009
Hotel Lawyers with the pulse of the hotel industry from ALIS. Mark Woodworth of PKF Consulting shared his latest analysis of the hotel industry with us, as well as his slides from the ALIS conference. The picture is not pretty. Mark says, that if you’re waiting for the recovery, the key word is “PROTRACTED.” Here are the details.
15 January 2009
Jim Abrams brings decades of hotel experience and relationships to the team
Jim Abrams, a hotel industry leader and former CH&LA President, has joined JMBM’s Global Hospitality Group®. In addition to bringing decades of hotel experience and relationships to the team, he looks forward to contributing to the Group’s work on hotel management agreements, labor union and employment issues, and ADA issues, as well as expanding the Group’s capabilities in legislative and regulatory affairs.
6 January 2009
Click here for the latest articles on ADA Compliance and Defense.
An important ADA sweep has been launched — a development involving the Americans with Disabilities Act — and there are important, cost-effective steps a prudent owner or operator can take now to solve unnecessary problems. We expect more ADA Sweeps soon. An ounce of prevention is worth a pound a cure.
Here is what this is all about. . .
5 January 2009
To say the least, the last year has been a very “interesting” one. Here are our picks for “The Best from HotelLawBlog.com” from 2008. There are some classic pieces here!
5 January 2009
Please see “troubled hotel loans – workouts, bankruptcies & receiverships” for the latest articles on troubled hotels.
Restructuring distressed hotels . . . hotel debt . . . and workouts of troubled hotel loans for profit opportunities now. Hotel lawyers on hotel turnarounds, workouts, restructurings, bankruptcies and opportunistic investment.
JMBM’s hotel bankruptcy lawyers and hotel workout teams are getting busy as the fallout from the global economic crisis hits the hospitality industry. In addition to traditional bankruptcy, workouts, turnarounds and receivership, we are finding a lot of interest in JMBM’s SAVE® Program, and expect a big roll out in 2009. You may want to check that out!
Otherwise, here is another useful tool for the SAVE® Program tool chest of techniques to help Lenders, Borrowers, and Investors with distressed hotel loans and hotel assets. We call it the Enhanced Note Sale™.
4 January 2009
Recent ADA Guidelines and the Target case provide a big wakeup call to the hotel industry for its internet “channel” of distribution. When the Americans with Disabilities Act (ADA) was enacted by Congress in July 1990, the Internet was in its infancy and few, if any, considered its applicability to cyberspace. But a settlement of a cyberspace lawsuit in a major case on the issue pending in Federal Court stands to set a precedent with far reaching implications for the hotel industry as well as the nation’s retailers.
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?
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.
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.
