Hotel and Resort Conglomerate
Company:Hotel and Resort Conglomerate
A large hotel and resort conglomerate had little cash and high levels of secured debt. The company was unable to make debt payments, was in danger of being unable to make operating payments, and in default on obligations with hotel franchisors.
A Focus Professional was engaged by the Board of Directors to restructure all financial and operational functions of the hotel conglomerate.
Focus Professionals significantly reduced overhead and costs associated with the management of hotels and negotiated with franchisors for time needed to make renovations to maintain franchise affiliations. Focus also assisted the Company with its Chapter 11 bankruptcy and successfully restructured the financial and operational functions of the Company during the reorganization process. Included in this effort was:
- Restructured all debt
- Rationalized all overhead/operating expenses while increasing guest satisfaction
- Developed procedures for maximizing revenue
- Renegotiated franchise agreements
The Company emerged from bankruptcy and operated profitably during our Focus Professional oversight of the organization.