Growth Properties has worked with lenders who are dealing with hotels notes that have encountered financial distress have assisted those lenders with Hotel Evaluations, Asset Management, Operations Management, Receivership Responsibilities and Disposition.

Growth Properties will conduct a thorough evaluation of the hotel and produce a comprehensive report to the lender or servicer to include the following:

• A general overview of the physical plant to include photographs of the entire exterior and interior of the hotel.
• Cash handling and cash control
• HR and staffing evaluations
• Tax payment overview
• A/R and A/P review
• Hotel operations and sales department
• Emergency and life safety review
• Franchise status and relationship

Growth Properties has the experience of being a court appointed receiver and has assisted lenders with the entire process from pre-foreclosure to asset disposition.  Our Receivership responsibilities are at No Cost and include the following:

• Takeover -Growth Propertieswill be available for takeover prior to the court appointment and is prepared with a team of individuals whose responsibility is to secure the asset at takeover.

• Accounting & Financial- Growth Properties will quickly secure the financial situation at the hotel and transition all Accounting and Financial responsibilities to the Growth Properties corporate offices.  We will work with the outline and details in the court order for financial reporting, etc.

• Staffing- We have task force personnel that will stay at the hotel until the staffing situation is stabilized and staffing challenges have been restored.

• Operations and Sales- We will manage the ongoing operations and sales functions.

• Capital Improvements - We will evaluate what immediate capital improvements need to be made and work with the lender on critical and non critical items.  We will oversee all capital improvements made to the hotel.

• Disposition - We will interview, engage and supervise a hotel broker in the disposition of the hotel while keeping the lenders interests in view.