Through poor management, ineffective marketing or simply an outdated property, hotels and resorts can spiral into financial turmoil. IDM provides emergency support to maintain cash flow as a redevelopment plan or sale is executed. We have stepped in within a day’s notice to help financial institutions, court-appointed receivers and owners with a distressed or bankrupt property.
Through transitioning and repositioning, hotel receivership is one of our specialties. When it comes to assisting with the management of a hotel in transitional or distressed circumstances, we provide efficient and cost-effective receivership services and a plan specific to lenders preparing to foreclose and sell a property. Receivership services generally cost no more than regular management services.
IDM has worked with many of the best regional professional receivers and law firms to manage the assets for lenders in transition. Our services make it easy for appointed receivers to make precise decisions on available assets and cash flow necessary to transition property, quickly and at the highest value.
Within a day’s notice, our team can quickly jump in and gain complete operation of the property. As with any hotel IDM manages, we enter all appointments respectfully and professionally. The employees are quickly hired and placed on the IDM payroll in order to reduce the lender’s associated risk.
We quickly evaluate the property’s physical condition and overall assets to ensure both are protected. To immediately regain cash flow, we initiate effective inventory management and online system booking systems to assist the struggling property.
IDM also provides the financial accounting and handles all the required auditing of the asset and the necessary reporting for lenders to continually evaluate the assets financial position.