Financial Institutions and Insolvency Practitioners need to maintain the value of hotel properties once they have taken them into their charge. It is important to ensure that the hotel business is not disrupted during the transition of control from owner to receiver or other insolvency practitioner to avoid damaging the value of the hotel asset.
PREM Group, working in partnership with financial institutions and insolvency practitioners can act quickly to take a distressed hotel property under effective control. Once the business is stabilised, PREM Group can perform an assessment of the trading performance of the hotel property, identify areas where performance can be improved and implement change where necessary to maximise profitability and cash flow.
Unlike other hotel operators PREM Group do not consider appointments to manage distressed properties as an oversight and reporting assignment. PREM Group actively manages the hotel to turn the business around as quickly as possible.