Find the most crucial people you need to bring your product to with our advanced search features and then immediately take action, leaving your competition in the dust. Nicole is the partner and co-founder of wave hospitality advisors, assisting in several special projects at our Timber Cove Resort property on the Sonoma Coast. Nicole’s talents in music lends well to curating both the resort’s vinyl record collection as well as the playlists in the lobby and restaurant. In addition, Nicole manages the resort’s retail corner, sourcing retail items from local vendors and outlets in the Sonoma County area. The report indicated that over the past several years, the millennial generation has increasingly impacted the lodging industry, calling into question products and offerings that have for decades been industry mainstays. “Today’s emerging traveler, millennials and millennial-minded travelers, is more cost-conscious and experience-focused than ever before, whether traveling for business or leisure,” it was noted.
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While this can be seen in obvious forms such as revenue and team size, many business owners should also take stock of their own personal growth as well. This study is prepared for proposed projects or for existing properties being considered for significant changes.
By presenting the program as a series of two day events it allows the company to touch a number of existing customers as well as potential clients. All Trademarks and Copyrights are owned by their respective companies and/or entities. The companies and people profiled on Corporation Wiki are displayed for research purposes only and do not imply an endorsement from or for the profiled companies and people. No warranties, expressed or implied, are provided for the business data on this site, its use, or its interpretation. Founded in 2016 by Principals Jens von Gierke of Wave Hospitality Advisors and Michael Barry of Ironstate Development, Ironwave Hospitality, LLCs mission is to enrich the lives of our guests, our employees and owners. We accomplish this through superior guest accommodations, legendary customer service, revenue growth, cost controls and treating both our guest and employees with respect, courtesy and affection. If you just got a notice that your hotel asset is about to lay off staff and close, jump to #4 in the list below and then circle back.
Whether you’re building from the ground up or looking to streamline your current tools, there’s so many ways to be able to automate how you work to improve efficiencies and get more time back in your day. Check out local events or co-working spaces to connect with other business owners in your local neighborhood.
In his current role, he handles all aspects of ProVentures hospitality programs at major sporting events such as the Masters and the U.S. He also manages coordination of all the logistics of multi-day corporate employee incentive reward trips at some of the best international resorts in the world. Casselano has also been closely involved with the development and implementation of ProVentures strategic activation programs with Red Bull, Hyundai, KFC, Blu Homes, and Presidio among others. McGee began his sports marketing normal balance career at Advantage International where he was a client manager in the tennis division and later added football representation to his resume. During this time, the company represented a host of top ten tennis players including world number one Steffi Graf. In 1997 the company was purchased by the InterPublic Group and was eventually rebranded as Octagon. In 2003, McGee shifted his role to assist corporations in negotiating talent agreements and developing activation plans as well as major hospitality programs.
Ironwave Management is the third party hotel and restaurant management division of Ironwave Hospitality. Dan brings over 20 years of project and construction management experience to the team. Dan’s responsibilities include creating and maintaining budgets and schedules, coordinating design and development teams, financial analysis, city municipality liaison support and report preparation. Jason has filled the role of project manager and acquisition support for Wave Hospitality Advisors since 2009. Jason’s responsibilities include acquisition model development, financial analysis, feasibility study analysis, operational support and report preparation.
Founded in 1999, Janko Hospitality is a Chicago-based operator of upscale, extended-stay and select-sevice hotels throughout the Midwest. The firm, since its inception, has managed 23 hotels and has played an active role in the development or redevelopment of each property. Currently, Janko Hospitality manages hotels in Illinois, Wisconsin and Iowa.
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One of the exciting things about owning your own business is the ability to focus on the problems you’re most passionate about. This allows you to work with incredible people to help them solve these exact challenges, and bring your ideas to life for them.
This includes Sophia’s Treasure Hunt at Timber Cove Resort, a 20 stop treasure hunt that guides guests through the property’s windy hiking trails while educating them on the history of Timber Cove.
If trouble signs appear, the special asset group should be consulted at an early stage, even if the project stays in the hands of the loan servicing department. An SPE is an entity that owns only the asset being mortgaged, is unlikely to become insolvent due to its own activities, and is generally protected from the effects of the insolvency of its affiliates. It’s estimated that 20 percent of hotels in the U.S. have debt held in commercial mortgage-backed securities . Among these hospitality industry borrowers are hotel owners needing financial relief due to the COVID-19 pandemic, many of whom are unfamiliar with working with master servicers and special servicers in the complex world of CMBS. David is a nationally recognized expert in the waterpark industry, having completed over 600 studies of various waterpark resorts since 1999 and visiting most of the open waterpark properties in the United States and Canada. Recognizing David as an industry leader, Aquatics International twice named him, most recently in 2019, in their “Power Issue” of the most powerful people in the aquatics industry.
Business owners are constantly striving to ensure a seamless end-to-end experience. Time is a precious thing, and the ability to spend it on the things that matter is critical for successful small business owners. Building trust with the client is key, and will set the pace for a positive working relationship for you both. Recognizing David Sangree as an industry leader, Aquatics International twice named him, most recently in 2019, in their “Power Issue” of the most powerful people in the aquatics industry.
Nestled among 25 acres of beautiful Sonoma coastline, Timber Cove is where the redwoods meet the sea. The hotel features 46 re-designed guest rooms, including eight premium suites, offering a variety of ocean, coastline and forest views. The new iteration of the storied resort retains the famous architecture and artisan features of this 1960s legend while bestowing all the comforts and amenities of a brand-new hotel. Coast Kitchen, Timber Coves restaurant, features fresh, seasonal fare for breakfast, lunch and dinner overlooking the Pacific Ocean. Timber Cove is a Conde Nast Traveler 2017 Hot List winner, Sunset Magazines Best of the West 2017 Travel Awards winner, 2017 Travel Weekly Magellan Silver Award winner for Hospitality Elements and winner of AFARs Where To Go In 2017.
- Wave Hospitality Advisors provides a broad spectrum of real estate management, development advisory services and investment, all of which are tailored to the specific needs of the client.
- Now it is time to consider these in light of the lender’s goals and the available alternatives.
- Our company is nationally recognized for its ability to successfully improve a property’s bottom line through P&L controls and standards.
- This dataset includes 3.55 million business entities (corporations, LLCs, etc.) registered with California Secretary of State.
- There is a free service offered by the Internal Revenue Service and you can get your EIN immediately.
Principal and Founder Jens von Gierke’s crowning achievement came with the acquisition of Timber Cove Resort on the Sonoma Coast, which was fully renovated and restored in 2016. Jens remains owner of the resort, which is managed by Ironwave Hospitality. Complete a full review of the project site, analyze existing hotels and competitive set, while determining brand interest and developing a hotel program for a potential hotel project. Entrepreneurship can be lonely, and working independently can oftentimes be tough when you don’t have a partner to talk things through with. Every day is different, and this can come with a rollercoaster of emotions when it comes to working on your own.
The major hotel companies are talking of furloughs for tens of thousands of hotel employees and many properties are looking at closure or skeleton team maintenance operations. The Comprehensive Situation Analysis should have gathered and considered all the relevant factors concerning the distressed hotel loan documents, the borrower, the hotel and their related considerations. Now it is time to consider these in light of the lender’s goals and the available alternatives. Given the complexities of the typical Special Asset, it is sometimes helpful to boil it down to a summary form that may over-simplify, but at least provides a grid or framework for analysis. JHM Interstate India is joint venture partnership formed in 2008 between Interstate Hotels & Resorts and JHM hotels. It is headquartered in New Delhi, India, with a fully staffed Resource Center in Gurgaon, Haryana.
We work hand-in-hand with clients in the areas of strategic planning, business development and industry-due-diligence to educate and develop programs on a retained annual basis. ProVentures also handles project work for specific tasks for a pre-determined timeframe. Together with our clients, we develop and communicate the program objectives as well as provide a keen understanding of event options. We have the experience to develop strategic plans focused around sports and entertainment platforms ranging from one-time events, such as the Grammy Awards, to week long hospitality programs at The Masters. At root, each BRE approach or strategy is based on the long-established, fundamental principle that, even though bankruptcy is a federal law matter, the entities in question are created under and governed by state law.
The Company currently owns twelve hotels and manages 56 hotels totaling approximately 10,445 rooms under its management. We are a “full service” provider of management services, including the repositioning and/or redevelopment of your full feature, limited feature, extended stay or luxury resort property. Jens founded Wave Hospitality in 2009 and brings 30 years of hospitality experience to the project. Jens leads the company in all aspects and is involved in each and every project. We understand the value of working with specialized partners in the real estate, hospitality, retail and logistics sectors to provide unique opportunities to our clients and strive to continually build our global network. We partner with Asset Owners, Private Companies Seeking Growth Capital, Capital Providers and Deal Sourcers. He devotes 100% of his practice to hospitality, representing hotel owners, developers and lenders.
In 2016 the World Waterpark Association honored him with their Executive Board Award. Both of these awards signify David’s commitment to the waterpark industry and identify him as helping to shape some of the latest trends.
Particularly with construction loans, negotiate all necessary controls for the project – to cover both the ordinary course of building and the possibility of default. A lender will never have a better opportunity to protect its interests than the period before it has disbursed the loan proceeds. Without good early warning systems, lenders are being surprised by borrowers calling to say, “We are giving the property back. This article was published originally in November 2008 on HotelLawBlog.com and then updated in 2010 for our Lenders Handbook for Troubled Hotels. In light of the recent increase in distressed loans provoked by the COVID-19 crisis and resulting economic impact, we thought it might be important to bring the information current through April 2020. Unfortunately, there is much misinformation circulating in the business media about how special servicers work with borrowers needing debt relief.
Shanghai Jin Jiang International Hotels Company Limited (“Jin Jiang Hotels”) is a leading hotel group in China, principally engaged in hotel operation and management, franchising, and the businesses of restaurants, transportation, logistics and travel agency, etc. Jin Jiang Hotels was successfully listed on the Main Board of the Hong Kong Stock Exchange in December 2006 under the stock code 2006. how is sales tax calculated, who was engaged by Bangkok based OptAsia Capital Company, is pleased to announce that they have successfully advised and represented 315 East Dean Associates Inc. in the acquisition of The St. Regis Aspen Resort in Aspen, Colorado. Sophia assists the Wave Hospitality team in establishing creative activities for kids during their stay at our projects.
David has appeared on Good Morning America, CNBC, and Fox8 News in segments concerning hotels, resorts and waterparks. In addition, he is a regular contributor to many industry publications, offering his expertise on various hospitality industry segments. Dag brings 30 years of legal experience to the Wave team, consulting on a variety of hotel disclosures and agreements that Wave Hospitality’s various owners are currently negotiating. His responsibilities include document review and analysis , as well as entity creation and establishment. Kirtley brings over 20 years of hospitality management experience to his role as general manager of Timber Cove.
In a SARE case, the creditor/lender secured by the real estate asset will be entitled to relief from Bankruptcy Code’s automatic stay as a matter of right unless the debtor does one of two things within 90 days of commencing its case. Under the Bankruptcy Code, if a bankruptcy case involves “single asset real estate” (often called “SARE”), the proceedings will tilt greatly in favor of the lender/creditor secured by that SARE. Intuitively, then, an SPE that holds a single real estate asset would seem automatically to hold “single asset real estate” under the Bankruptcy Code. Interstate Hotels & Resorts is the International Division of leading U.S.-based global hotel management company, Aimbridge Hospitality. Thousands of hotel owners, developers, and guests have discovered the Interstate difference in our 100-property portfolio of hotels in the UK, Ireland, Europe and Russia, alongside the global 1,400-property portfolio managed by our U.
Most of the receiverships in the United States are state court receiverships. But lenders seeking the relief and protection of receiverships are giving new consideration to filing in federal court. If your travel and tourism business needs advisory assistance as you move through pandemic recovery and plan for the future, we’re eager to help. We are prepared to be flexible and creative to help your property reach its full potential. We provide established and emerging brands, management companies, and owners with solutions to optimize their investments and develop successful destinations. The safety and wellbeing of our guests and associates is paramount at CoralTree Hospitality.
Evidently, the Hong Kong co-living market continues to evolve and deep pockets seem to put Weave ahead of the pack in this competitive environment. Further distress among fund-backed operators may see more opportunities come to market in the near term. Warburg Pincus-backed Weave Living has committed to the acquisition of a 99-room co-living property in the area of Hong Kong’s Kowloon City and Kai Tak neighborhoods.
Federal courts, however, have generally been proceeding with their cases in a more-or-less normal fashion. Even though federal courts do not have the quick receivership hearings that some states permit in ordinary times, federal receiverships, which are not commonly used by secured creditors, can be a very useful remedy for defaulted loans. This is particularly true even when state courts are fully “open for business” where the borrower’s operations and the creditor’s collateral are located in multiple states. Two of our panelists, Jack Westergom of Manhattan Hospitality Advisors and Manus Clancy of analytics firm Trepp, presented slides packed with useful information, and we wanted to make them available to those who were not able to attend the program. Jack’s update on the state of hotel industry, and Manus’ state of the CMBS industry presentation are both available for download below.
Author: Jodi Chavez