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| Byblos Properties has
expertise in the management of hotels in transitional and distressed
circumstances and has extensive experience being appointed receiver.
With our expertise we are able to provide efficient and cost effective
Receivership Services for lenders that are preparing to foreclose
and sell a property. |
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| Appointment |
| Our principal officers
are well acquainted with the court proceedings involved in the appointment
of a receiver. Our experience gives us the ability to efficiently
go through the legal process with our clients including insuring that
the all important Order Appointing a Receiver is adequate in its scope
and provides the necessary tools for both a smooth transition but
also cleaning up unpaid bills and leases. |
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| Takeover |
| Utilizing our management
know-how and our company's flexible structure, we are able to smoothly
take over operation of the property, on very short notice if necessary.
When we become receiver, we enter it as we would any hotel we manage.
As you would expect, we will be present at the hotel at the time of
takeover to become familiar with its operations and implement the
necessary changes. The appropriate background checks are performed
on all employees and they are rehired and placed on the payroll of
an affiliate of ours in order to reduce the investor's associated
risk. |
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| Management |
| We make sure that the
assets of the property, both physical and monetary are protected and
accounted for. Financial and accounting work for the property is done
by experienced staff in our offices. The accounting system that Byblos
Properties utilizes permits our clients to view financial data over
the internet using a web browser, allowing the interested parties
to stay up to date with the business of their asset. Additional reports
are prepared and submitted as necessary. |
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| Why Us? |
| Byblos Properties is
able to efficiently develop and execute the necessary hotel business
plans that will increase the efficiency and appearance of a hotel.
This will help the selected hotel broker show the hotel in the best
possible light to prospective buyers. We will work hard to help effectively
dispose of the hotel asset. |
