Distressed Properties - The Recovery Plan

Given these turbulent times in the hospitality industry due to COVID-19, the hospitality sector was one of the first to endure the hardship of closures and the first to feel the economic brunt of the crisis. Now, with hotel, bar and restaurant doors re-opening, a united sigh of relief sweeps across the sector. However, the hardships are still being felt for many properties – prompt action is critical to prevent crippling debts, layoffs and closures of distressed properties.

PREM Group can help you with your recovery plan.

Management Contracts - Transformational change

The financial performance of all hotels can suffer from time to time for various reasons including dramatic changes in the economy, increased competition, a change of leadership, liquidity issues or prolonged periods of under-investment. In these circumstances property owners may feel they are running out of options. PREM Group has a range of management contract solutions to assist property owners in this position. By implementing realistic business plans and adopting medium term management contracts with PREM Group, property owners have seen their hotels return to good financial health.

Management Contracts - Distressed properties

Working in partnership with financial institutions and insolvency practitioners, we can act quickly to take a distressed hotel under effective control. Once the business is stabilised, PREM Group can perform an assessment of the trading performance of the property, identify areas where performance can be improved and implement change where necessary to maximise profitability and cash flow. We actively manage the hotel to turn the business around as quickly as possible.

As a private group, we can make decisions quickly to turn the business around as quickly as possible.

Our fact-based work is unbiased, fair and provides an in-depth analysis of the company and its affairs.

PREM Group is actively looking at opportunities in cities across Ireland, United Kingdom and Benelux regions for under-performing hotels or properties that need to be repositioned. To this end, we invite your inquiry for hotel acquisitions, distressed properties and all avenues of possibility.

For more information on how we can help your business, contact Jonathan Brady, Commercial Manager, jbrady@premgroup.com