GF Management Completes Advisory on Allerton Hotel Chicago
Philadelphia, PA - June 14, 2010 - GF Management (GF), a fully integrated hospitality management company, has successfully completed a consulting and advisory assignment on the Allerton Hotel, Chicago, IL, a 443-room hotel whose debt was recently purchased by DiamondRock Hospitality. In its capacity as advisor to the Special Servicer, GF performed operational evaluations and analysis, sales and marketing audits, branding options, physical plant evaluations, and ongoing additional advisory services.
“GF improved overall reporting to the lender, providing the client a clear window to truly understand what challenges existed at the hotel” said David Brewer, Vice President Asset Management for GF. “GF was involved with the consistent, daily monitoring of the performance of the asset, and we believe our involvement provided a better level of understanding for both the operator and lender in terms of aligning their interests” added Brewer.
For the past twenty-two years, GF has represented equity partners, banks and servicing companies on a variety of operational and investment concerns. With the formal creation of the Asset Management, Consulting and Advisory Division in early 2010, which already oversees an $800M 20-hotel portfolio of assets for a private equity firm in addition to several other high-profile assignments, the company has come full circle. “GF has long been an owner and operator, and now with the addition of a focused Asset Management, Consulting and Advisory branch, GF is able to showcase its role as a trusted advisor,” added Brewer. “Our impressive track record speaks for itself, and going forward, GF is more than ready to help our clients weather these difficult times while providing them a game plan for future opportunities.”
About GF Management, Inc.
GF Management is an award-winning full service hospitality management company founded in 1988 and based in Center City Philadelphia. With approximately 85 hospitality assets under management including hotels, resorts, conference centers, catering facilities, condominiums and golf courses in 26 states, GF Management specializes in long-term management contracts as well as receivership assignments for a variety of private, institutional and banking clients. GF's property portfolio also includes 11 hospitality assets which are owned by its principals. The company is currently seeking to expand its portfolio of full-service management assignments through long-term contracts and joint-venture investment opportunities.
For more information about GF Management call 215-972-2222 or visit www.GFHotels.com.
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