Proven Excellence in Hospitality Management since 1969.
Strand Development Company Receivership Services
At Strand Development Company, we understand that for a lender, a distressed hotel is one of the most complicated real estate assets. The key to success in acquiring the most favorable outcome is to retain a notable and experienced hotel management company. Strand Development has a long and successful track record in the management, repositioning and successful disposition of hotel real estate for financial institutions. For the past decade, Strand Development has worked with a number of lenders and special servicers to bring positive results to distressed assets. Time and again, Strand has built relationships by improving results and has earned a solid reputation as a leading hotel management group. Moreover, Strand Development’s extensive history in this process ensures an easy transition, leaving the lender in the comfort of trustworthy and committed professionals.
Strand Development will work with clients to develop a customized approach given the hotel’s special market conditions, property conditions, and relationship with the brand where applicable, to develop a strategy for the asset early in the process. The company provides complimentary consultations based on its knowledge of the industry and its experience with similar assets. We have extensive relationships with major brand key representatives to assist us in repairing any existing franchise issues. Whether our advice provides a head start on an assignment or simply helps avert the lender taking possession, we are the company dedicated to obtaining the best results.
Many of our clients have expressed the need for simplicity. As a result we’ve adopted a one flat fee pricing schedule that includes all management and receivership services.
Strand Development’s sales-driven culture translates to early results in growing revenues. Strand Development will assess and monitor the financial position of the asset on a daily basis, collect receivables and negotiate with vendors, all leading up to the maximizing of positive results.
Strand Development will designate a liaison to be responsible for reporting to you, and when necessary to the court, a detailed analysis of the asset, forecasts for revenue and profit and other significant issues. The company prides itself on generating a complete profit and loss statement reviewed by staff accountants and a licensed CPA, delivered in most cases within ten days of the close of each period. You can expect prompt reconciliation of cash, cash flows, assets, and liabilities.
Together we will develop a strategy to reposition the hotel for maximum recovery value. Working with qualified brokers, Strand Development Company helps tell the story to potential buyers.
About Us: Strand Development Company celebrates over 40 years of successful hotel operations, and currently manages 65+ hotels in 12 states and is licensed to do business in all 50 states nationwide. Strand Development is an approved manager of hotels within the Hilton, Marriott, IHG, Starwood, Wyndham, LaQuinta and Choice families of brands. Strand Development operates in every niche of the hotel segment. From urban to suburban, airport to resort, economy to full service, Strand Development takes pride in the unparalleled experience of its management team.