Hotel Workouts
and Receiverships
Background
and Qualifications
Contact:
Derek Sylvester, Principal
(610) 687-9280
DSylvester@gulphcreekhotels.com
www.gulphcreekhotels.com
WHY GULPH CREEK HOTELS?
We will focus our attention on you, your asset and your concerns.
1.
We won’t just baby sit your hotel, we will secure and clean up the asset, drive revenues, streamline
operations and maximize value.
2.
Market leaders – your asset will be part of a highly competitive hotel portfolio. Three of our six
hotels are #1 in their respective comp sets.
3.
Hands on – we are a smaller owner-operated company with an owner serving as the single point of
contact for you and the asset.
4.
Well respected company – we are an approved Operator with all major brands – Marriott, Hyatt, IHG,
Hilton, Starwood and Choice. Currently operate independent hotels.
5.
Experienced – we are an experienced receiver with a strong takeover and distressed hotel
management track record
6.
Strategic partner – we bring strong valuation, market study and hotel consulting experience to
support the best course of action for the asset.
7.
350 Employees, $36 million annual revenue
www.gulphcreekhotels.com
MANAGED HOTELS
Hotel
Guest
Rooms
Location
Year
Opened
Hilton Garden Inn
105
Hamilton, NJ
2007
Marriott Courtyard
127
Malvern, PA
2007
Marriott Courtyard
132
Collegeville, PA
2005
SpringHill Suites
200
Liberty International Airport, NJ
2004
Tidewater Inn
103
Easton, Maryland
1957
Crowne Plaza
340
Philadelphia, PA
1980
Total
1,007
www.gulphcreekhotels.com
ORGANIZATIONAL CHART
Amy Gancasz
Derek
Sylvester
Development
Asset Management
VP Select Service
VP Resorts
VP Full Service
SpringHIll
Courtyards
HGI
Tidewater
Kent Island
Crowne Plaza
Accounting/IT
www.gulphcreekhotels.com
VP
Sales and Marketing
Revenue
Management
Human Resources
ASSET MANAGEMENT/WORKOUT SERVICES
Gulph Creek Hotels addresses these issues by conducting the following steps:
• Receivership in Bankruptcy
• Management Operations Review
• Forbearance Agreement
• Franchise Evaluation
• In-Depth Financial Review
• Market Position Analysis
• Physical Review/Renovation Estimates
• Financial Projections
• Debt Restructuring
• Marketing Plan Critique
• Strategic Plan
• On-Going Management Review
• Foreclosure/Bankruptcy Strategy
• Establish Sale Price
• Disposition Strategy
www.gulphcreekhotels.com
RECEIVERSHIP/MANAGEMENT SERVICES
GCH is positioned to serve as the receiver and management company for a nonperforming hotel. Our methodology is outlined below:
•
•
•
•
•
•
•
Determine the best plan to minimize the loss to the bank or special servicer.
Forbearance agreement, receivership in place
Takeover of management (after obtaining waiver of lender liability) or foreclosure
and eventual sale of the asset.
Determine ability of the hotel or motor inn to service debt or generate cash flow
in the short or long term.
Assess condition of books and records, implement internal controls and cash
handling procedures.
Evaluate physical condition of the property relative to the competition and the
amount of renovation needed to restore the hotel's competitive edge or maintain
the current franchise affiliation.
Determine whether the existing franchise is adequate for the market and the
hotel
www.gulphcreekhotels.com
BIOS – SENIOR LEADERSHIP
Amy Gancasz - Principal
•
Gulph Creek Hotels - 1998 to present. Direct operations of all hotels.
•
Prior - 16 years in hospitality management. Started with Gulph Creek Hotels as an AGM. Promoted
to GM, regional manager and VP of Operations (2002).
•
Education - BS, Hospitality and Tourism Management - Grand Valley State University in Allendale,
Michigan.
Derek W. Sylvester – Principal
•
Gulph Creek Hotels - 2006 to present. Acquisition, development and takeover/repositioning of
hotels. Asset management of SERS resorts.
•
Prior – Asset management Harbor View and Kelley House – Edgartown, Massachusetts, Hotel
Hershey - Hershey, Pennsylvania, the Wyndham Bermuda Resort - Southampton, Bermuda and the
Chesapeake Bay Beach Club. Responsible for the development of the Palace - Somerset, New
Jersey, Castle Hill Inn & Resort - Newport, Rhode Island ($2m F&B). Consulting positions with
Pannell Kerr Forster, Restaurant Advisory Services and Sylvester Consulting Group. Marriott Hotel
Restaurant Manager ID training program and restaurant management positions with Marriott Hotels
& Resorts.
•
Education - BS, Cornell University School of Hotel Administration
www.gulphcreekhotels.com
BIOS – SENIOR LEADERSHIP
L. Clarke Blynn – Founder and Advisor
•
Gulph Creek Hotels - 1996 to present.
•
Prior - Managed regional hotel consulting practice at Pannell Kerr Forster, an international hotel
consulting company. Conducted market demand, operations, and valuation studies of hundreds of
full- and limited-service hotels. Asset management, receivership deal structuring and contract
negotiations are specialties.
•
Education - BS, Cornell University School of Hotel Administration
Bill Deckard – Regional Manager
•
Gulph Creek Hotels - 2001 to present.
•
Prior – Winegardner & Hammons – Assistant general manager, McIntosh Inns – general manger.
Marriott Hotels & Resorts – sales and housekeeping. Hilton Hotels – sales.
•
Education - Hotel, Restaurant, and Institutional Management - The Pennsylvania State University
David Arena – Regional Manager
•
Gulph Creek Hotels - 2006 to present. Prior:
•
General Manager: Penn Oaks Golf Club-West Chester, PA. General Manager: Marriott Residence
Inn- Exton, PA. General Manager/Director of Sales: Holiday Inn West Chester. Director of Sales:
Wyndham Hotel-Wilmington, Delaware. Executive Director: Delaware Document RetrievalWilmington, DE. Owner/Manager: Arena’s Famous Restaurant-Rehoboth Beach DE.
Owner/Operator: The Shipley Grill-Wilmington DE.
www.gulphcreekhotels.com