National Hospitality Holdings Completes Sixth Troubled Asset Advisory Assignment
PHILADELPHIA, PA, February 4, 2009 - National Hospitality Holdings LLC (NHH), a full-service hospitality investment, operating and development organization, today announced the completion of its sixth troubled asset advisory project. Over the past five months, NHH has been resourced to provide investment guidance on six hospitality assignments.
NHH clientele included a pension fund advisory firm, two lenders, two high net worth value funds and a foreign investor group. The projects involved were a Caribbean development under construction; two existing urban hotels; a domestic, mixed-use resort development under construction; and an upscale portfolio of 16 domestic hotels, totaling 3,000 rooms. The assignments varied from internal opinions of value, strategic disposition options, interim management and a comprehensive due diligence underwriting.
NHH, a diversified hospitality real estate and advisory platform, has quickly become the go-to company for advice on rapidly depleting, troubled hospitality assets. "John DePaul and his team provide an informed, professional assessment and will be on the ground, if needed, at the project site within hours," said the senior director of a pension fund advisory firm that recently consulted with NHH.
"We're honored to have earned such a positive reputation in the elite pension fund advisory and lending community in three short years of forming our company," said John J. DePaul, president and CEO of NHH. "We established a multi-tiered investment platform that can advise, manage or acquire hotels anywhere in the real estate cycle. Our focus has completely reset from re-entering the market as an active buyer last July with the purchase of two full-service, value-added investments to an all-out retooling to assist our clients in an unprecedented downturn. Having an uncomplicated partner/advisor in a complicated environment is our mission," added DePaul.
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