West Chester, OH, July 02, 2012 --(PR.com
)-- Crestpoint Companies, Ltd., an independent hotel development and management company headquartered in West Chester, Ohio, announced that it has recently signed two new contracts to manage hotels in receivership, adding 120 rooms to their management portfolio.
“Owners and lenders in the hospitality industry are facing real challenges these days, and it’s in everyone’s best interest to work through these challenges. Our unique skills in distressed asset management, turnaround planning, and hotel operations provides a bridge to the eventual solution,” said Kal Patel, Crestpoint President and CEO. “Many properties were holding on and hoping for a quick return to the economic top. Unfortunately, given the difficult circumstances, they are still facing foreclosure, and receiverships are rapidly increasing. We prefer to assist owners and operators early, and accept a management contract before the receivership process is necessary, however, receivership projects are a reality of this challenging economic cycle.”
Crestpoint Companies differentiates itself among hotel management companies with a focused and unique approach to receivership. “Our team has been to the rodeo. We know what needs to be done, so we act fast. We analyze the market position, competition, and pricing; then develop a strategy for cost control and operational improvements. Our aim is to rapidly stabilize revenue through decreased expenses and improvements in guest service,” explained Jed Sherman, Crestpoint COO. “There is a great deal of uncertainty in receivership work since the property condition is unknown, vendor and franchise relations are strained, and customer service is often not up to par. Our operations staff enjoys getting in the trenches, taking a hands-on approach, and challenging themselves to quickly redirect efforts.”
Crestpoint Companies looks to the future, hoping to help hotel owners, operators, and lenders through the slow recovery and into a sunnier economic climate.
About Crestpoint Companies, Ltd.:
Crestpoint Companies is a fully integrated hospitality development, management, and investment firm. We strive for leadership in each of our segments by building quality assets, exacting high standards of customer service, and focusing on returns for our investors and partners. We achieve our mission via a company culture of transparency, ownership of our actions, and accountability for our results. To learn more about Crestpoint Companies, Ltd. visit www.crestpointcompanies.com or call 513-442-3454.