Tailored for Special Servicers and Lenders
Best in Class Receiver Services
Concord is financially equipped to assist your special servicing of hotel assets by specifically helping to resolve troubled commercial loan. We have raised a $200MM Recovery Fund that can help borrowers who have fallen behind on their mortgage or have defaulted on loan terms to determine the best possible outcome for all parties, including alternatives to foreclosure.
Under Concord’s proven management strategies, we can assist in righting the ship by putting cost reducing systems and revenue generating programs into play so that there is less cash burn and more cash flow can be realized
Receivership Competencies & Expertise
Concord is equipped to strengthen assets, build value and properly position a hotel to recover quickly. Below are some of the capabilities and services we provide:
We manage all levels of Full Service, Select Service and Independent Hotels and are a preferred operator of all major brands.
When applicable in a bankruptcy proceeding, we can step into the receivership role and be the conduit for all communications between the court, the borrower and/or borrower’s counsel on your firm’s behalf.
Concord’s real time financial reporting system can produce financial reports adapted to meet the specific needs of your firm or court requirements.
We will provide cash management of the hotel’s income ensuring that franchise fees, vendor accounts and property taxes are being maintained and paid.
We have the in house ability of securing the property with special insurance, if needed.
Concord has deep relationships with all the major brands and the ability to calm the waters once we are at helm of the hotel’s management.
In the case of a franchise PIP default, our operations and construction teams can perform a property evaluation to help negotiate PIP items and find areas where savings or eliminations may exists and leverage completion timing.