Hotel Receivership Services

Hotel receivership needs to be handled effectively to ensure a smooth transition to the new owner. Global Asset Solution offer hotel receivership services to assist you with this.

TAKEOVER SERVICES

As the Receiver, the Global Asset Solution team arrives at the hotel with an order to take immediate possession of all real and personal assets. This includes, but is not limited to, securing cash on the property and seizing all accounts. Notification of Receivership status is sent to franchise, all vendors, lessees, and other interested parties. The team resources specialists are available during this transition.

POST-TAKEOVER SERVICES

Global Asset Solution handles the Receiver's ongoing operational and administrative duties include, but are not limited to:

• Protection of the operator
• Dealing with outstanding state and local sales & occupancy tax issues
• Handling any pre-takeover lawsuits, claims, or outstanding insurance matters
• Locating and obtaining control of deposits from utilities including any governmental
  entities
• Managing pre-takeover vendors and leaseholders
• Our hotel property management team knows the asset's financial welfare depends on
  sound hotel business operations.

REPORTING

Global Asset Solution prepares a monthly Receiver's Report using standard accounting practices in a thorough and timely manner.