Holland & Knight and HVS Host Roundtables

. June 05, 2009

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