Hotel Asset Managers Emerge as the New Breed of Experienced Hotel Receivers

BEVERLY, MA—Capital Hotel Management (CHM), a leading hotel asset management and investment advisory firm,  reported it expects to see an exponential leap in demand for hotel asset management services from the lending community as they look for qualified hotel receivers.

“The lending community has reached the stage where they no longer can delay foreclosure issues,” said Chad Crandell,  (top right photo) President of CHM. “We certainly will see more foreclosures in 2010 than any year since the RTC days of the early nineties.

"We have taken on more receivership assignments in the fourth quarter of 2009 than we have in the past decade. This is just the beginning of a trend that we anticipate will last beyond 2010, and CHM is well prepared to meet the workout needs for lenders with hotels consistent with our historical asset management portfolio.”

“The good news for lenders is that there are an increasing number of hotel receivers in the market today. The bad news for lenders is that there are an increasing number of hotel receivers in the market today, making it often difficult to identify a truly qualified hotel advisor amidst a wide-range of disciplines touting services to attract the lending community,” said Ken Wilson,  (middle left photo) CEO of CHM.

 “We are encouraged by the response CHM has received from the lending community, suggesting that lenders are weighing their options carefully and understand the value of a qualified, independent asset management firm and the transferability of skills and services asset managers bring to the receivership role,” Wilson noted.

For more information on CHM, visit their website at http://www.chmhotel.com/  or contact Kristie Dickinson at (978) 522-7000.