Holland & Knight and HVS Host Roundtables
WASHINGTON, DC, May 26, 2009 - Holland & Knight's Global Hospitality, Resort and Timeshare Group and HVS co-hosted the first of six scheduled nationwide roundtables on Creative Approaches to Workouts in the Hospitality Industry in Holland & Knight's Washington, D.C. office on Tuesday, May 12, 2009.
The interactive program began with presentations of the current challenges facing hotels and resorts with speakers from Holland & Knight's Global Hospitality, Resort & Timeshare Group and HVS Hospitality Services. Speakers included Joseph Guay, partner in Holland & Knight's New York office; Nina R. Eldred, senior counsel in Holland & Knight's D.C. office; Richard Lear, partner in Holland & Knight's Bankruptcy and Creditors Rights Team in D.C.; and HVS executive Vicki Richman, Chief Financial Officer who provides Asset Management Services to the hotel industry.
Attendees included senior executives of hotel brands, lenders, brokers, and owners. Each contributed different and valuable perspectives to the discussions.
Utilizing case studies prepared for the program, attendees organized into small teams had the opportunity to share ideas and solutions with the presenters to solve the problems and dilemmas that they must deal with on a daily basis. Matters addressed included:
-
Warning signs and steps that can be taken early on to preclude or minimize problems
-
Aligning divergent and common interests among the stakeholders to conclude a successful workout
-
Current trends in valuations, how asset values have been impacted during this downturn and when values are expected to recover
-
How various stakeholders can effectively use advisors in a workout or foreclosure
-
Potential creative solutions for underperforming hotel assets in the current economic environment
-
The unique array of issues faced in the workout of a mixed-use project
Upcoming lunch roundtables are all scheduled in Holland & Knight's offices at the following upcoming locations and dates:
New York | June 17, 2009
Miami | June 24, 2009
San Francisco | October 14, 2009
Los Angeles | October 15, 2009
A limited number of attendee seats remain available.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
