REO MANAGEMENT

Over our 35 years in hotel management, DePalma Hotels and Resorts has been a trusted source for REO management and receivership of special assets.  We understand the need to assess and secure a property, form a plan and create value with speed and efficiency.   We treat distressed assets with the same focus and attention of all of our managed properties.  Because of this, we have operated dozens of special assets nationally for local, regional and national banks and special servicers. 

EVALUATION

  • Complimentary review of hotel financials, market and performance metrics to gauge overall hotel health

  • Property visits to review the hotel operations and condition

  • Cash flow and capex projections

  • Hotel value estimation

  • Brand performance or change reviews

TAKEOVER

  • Hire and evaluate staff

  • Secure the asset including all FF&E, supplies and cash

  • Review and fix all life-safety and guest security issues

  • Transfer all vendor accounts

  • Place property and employee liability insurance

  • Contact and maintain key accounts

  • Develop hotel budgets and marketing plans

OPERATIONS

  • Full administrative, sales and marketing, accounting, food and beverage and maintenance management

  • Timely financial reporting

  • Ongoing hospitality training for all departments

  • Scheduled corporate property inspections

  • Work with the franchise and maintain brand standards

  • Full human resources management as the employer of record

DISPOSITION

  • Word of mouth marketing through ownership and hospitality contacts

  • Updates on estimated hotel value

  • Assistance in offering memorandum creation

  • Due diligence assistance and curation

  • Property tours and real estate broker point of contact

  • Property close out and transition

Our Process

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