A Comprehensive New Platform in Hospitality Services
By Bill Hoffman President/CEO, Trigild | November 25, 2012
With a focus on strengthening our hospitality services, Trigild – a real estate services firm with 35 years of property management, receivership/bankruptcy and consulting expertise – recently announced a strategic alliance with Blu Hotel Investors, a Santa Barbara-based hotel company with extensive expertise in acquisitions and ground-up development. The newly formed alliance enables both companies to share specific resources, services and specialties.
This partnership seems apropos, as Trigild was founded primarily as a hotel management firm in 1976 (we also began adding multi-family properties early on). In the mid 80's we started getting calls from lenders to handle non-performing hotel assets. Our first receivership assignment was on a hotel in Palm Springs for Home Federal Savings."
Over the years, our work for lender clients expanded to include a variety of fiduciary assignments on all forms of commercial real estate -- although we continued to evolve as a full service real estate services firm, offering asset management, property management, receiverships, bankruptcy trusteeships and consulting services for businesses in all sectors. We have handled thousands of properties over the years, and most are management-intensive projects – such as hotels, restaurants, senior care facilities and other "business enterprise" properties.
Properties that involve the operation of a business are infinitely more challenging – and require specific knowledge of the business itself, not merely general real estate management skills. Complex issues that need to be tackled when handling operating business include payroll and employment, tax liabilities, vendor and supplier relationships, utility services, liquor licenses, franchise agreements and inventories that may require immediate attention.
Such management-intensive businesses are our forte. We often hire hundreds of employees on very short notice and have thousands of details to track to make the court – as well as both debtor and lender – happy. We also continue to handle more "traditional" commercial real estate projects like office buildings, multifamily, shopping centers and industrial complexes.
Armed with extensive operations experience, we are now expanding our efforts in the hospitality sector, offering new services for investors and partners. To that end, we recently announced the strategic alliance with Blu Hotel. Specific services now offered by Trigild will include management, asset management, branding, pre-development planning, acquisitions and development."
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