Turnaround for financially troubled hotels or resorts

The Ascona Group’s turnaround management professionals use a very focused approach to quickly assess a distressed hotel or resort’s situation in order to offer clear recommendations on the best course of action.

We start by undertaking a Situation Analysis, which provides a rapid, factual assessment of the current situation, including a review of cash flow, debt service capacity, products, services, operations, reporting systems and controls and management team capabilities. We analyze the situation, determine the immediate needs and develop action plans.

The next phase is to implement a turnaround plan, which often involves re-engineering the property’s processes and rationalizing its operations. To obtain optimum results, our turnaround consultants are available as needed to assume key managerial roles (GM/Controller) at the properties on an interim basis. We attend to the vital aspects of the business - cash flow, bank and creditor relationships, and vendor and employee relations.

Our turnaround management specialists are experienced in all aspects of reorganization and rehabilitation, including restructurings both inside and outside of bankruptcy protection.

Using our process and focused approach, the turnaround management team helps companies improve performance and rehabilitate operations. We work with the management, equity holders and creditors to determine the key indicators for the business and develop methods to monitor performance. Our clear objective is to minimize the exposure of financial institutions, while we go through these very difficult economic times.

To discuss your portfolio needs please call: (702) 979-9834

or contact Eric Bettelheim: eric@asconagroup.com