Buena Vista Hospitality Group

Receivership, Trusteeships & Lender Assignment

                  

 

Buena Vista Hospitality Group (BVHG) was approved as a registered vendor for the FDIC in November 2008 to provide services to members of that agency in the following NAICS categories:

 

   721110   Hotels (except Casino Hotels) and Motels

   721910   Public Golf Courses and Country Clubs

   541611   Administrative Management and General Management

                                                Consulting Services  

 

RESORTS, HOTELS AND MOTELS

SEA SCAPE – Daytona Beach Shores, Florida. A BVHG principal was appointed on September 27, 2011 as Receiver, on behalf of RBC Bank (USA), by the 7th Judicial Circuit Court of Volusia County, Florida for this 45 room ocean front property. BVHG was engaged as the management company concurrent with the receivership assignment.

QUALITY INN & SUITES  – Tampa, Florida. A BVHG principal was appointed on August 20, 2010 as Receiver, on behalf of Grow Financial, by the 5th Judicial Circuit Court in Hillsborough, County, Florida for this 125 room and suite property. BVHG was engaged as the management company concurrent with the receivership assignment.

QUALITY SUITES  – Orlando, Florida. A BVHG principal was appointed on July 21st, 2009 as Receiver, on behalf of LNR Partners, by the 9th Judicial Circuit Court in Orange County, Florida for this 150 all suites property. BVHG was engaged as management company concurrent with the receivership assignment.

SUITES AT OLD TOWN – Kissimmee, Florida. A BVHG principal was appointed on April 17th, 2006 as Receiver, on behalf of LNR Partners, by the 9th Judicial Circuit Court for Osceola County, Florida for this 602-room hotel property, formally a Days Suites Hotel. BVHG was engaged as management company concurrent with the receivership assignment. All though the Receivership assignment was only for one month, BVHG continued to provide management services for the property under a property management agreement with L&R Partners and its clients until the property’s sale in February, 2009.

HOLIDAY INN SUNSPREE – Lake Buena Vista, Florida. A BVHG principal was appointed by the 9th Judicial Circuit Court for Orange County, Florida as Receiver on April 2, 2001 for this 507-room full service kids-suites resort within a few miles of Disney World. Concurrent with commencement of the receivership assignment, BVHG was engaged as management company on behalf of Lennar Partners, special servicing agent for Wells Fargo Bank as Trustee for holders of Credit Suisse First Boston mortgage securities certificates. Since its foreclosure in 2001, BVHG provide management services for the property under a property management agreement with Lennar Partners and its clients until its sale in 2008.

SHERATON FOUR POINTS HOTEL – Orlando, Florida. During Chapter 11 bankruptcy proceedings in late 2000 and early 2001 for this full service 337-room business traveler and meeting hotel at the airport, BVHG performed an operations audit, successfully petitioned unsecured creditors to vote for lender’s opposing reorganization plan and provided expert testimony to assist the lender’s foreclosure efforts. Upon title conveyance in late May 2001 BVHG entered into a management agreement with Lennar Partners on behalf of Bankers Trust Company, Credit Suisse First Boston and other clients.

CHOICE SUITES – Kissimmee, Florida. A BVHG principal was appointed on December 1, 1995 as Receiver, on behalf of NationsBank of Florida, by the 9th Judicial Circuit Court for Osceola County, Florida for this 134-room motel property. BVHG was engaged as management company concurrent with the receivership assignment. The assignment was in place for eight months until the property’s sale.

RAMADA INN – Orlando, Florida. A BVHG principal was appointed on December 6, 1990 as Receiver, on behalf of Great Western Bank, by the 9th Judicial Circuit Court for
Orange County, Florida, for this 192 room motel property. BVHG was engaged as management company concurrent with the receivership assignment. The assignment was in place for 1½ years until the property’s sale.

HOLIDAY INN – Titusville, Florida. A BVHG principal was appointed on December 6, 1990 as Receiver, on behalf of Great Western Bank, by the 9th Judicial Circuit Court for Orange County, Florida, for this 117-room motel property. BVHG was engaged as management company concurrent with the receivership assignment. The assignment was in place for 1½ years until the property’s sale.

ANACAPRI INN – Ft. Lauderdale, Florida. A BVHG principal was appointed on November 1, 1991 as Receiver, on behalf of First Union National Bank, by the 17th Judicial Circuit Court for Broward County, Florida, for this 120-room motel property. BVHG was engaged as management company concurrent with the receivership assignment. The assignment was in place for just over one year until the property’s sale.

RAMADA INN – Kingsland, Georgia. BVHG was appointed on March 7, 1991 as Receiver, on behalf of Niagara Asset Corporation in its role as servicing agent of the FDIC for insolvent Goldome Savings (Buffalo, NY), by the Superior Court of Camden County, Georgia, for this 156 room motel property. BVHG also provided management services during the receivership and was engaged by the FDIC to provide same after its successful foreclosure of the property. The assignment was in place for 2 years until the property’s sale.

LACKAWANNA STATION HOTEL – Scranton, Pennsylvania. BVHG was appointed on May 30, 1991 as Receiver and management company, on behalf of a consortium of 16 banks, by the United States District Court for the Middle District of Pennsylvania, for this 156 room hotel property. The assignment was in place for just over 2 years until the property’s sale.

WATERFRONT MOTEL – Boca Grande, Florida. A BVHG principal was appointed independent manager, on behalf of NationsBank, by the Circuit Court of the 20th Judicial Circuit for Lee County, Florida, for this 32-room property. BVHG was engaged as management company at the same time. The assignment was in place for 6 months until the property’s sale.

BRADENTON INN – Bradenton, Florida. BVHG was appointed in the early 1990’s as manager by the RTC for this 230-room roadside motel property. The assignment was in place for four months until the property’s sale.

RADISSON SUITE BEACH RESORT – Marco Island, Florida. In 1993 and 1994 BVHG operated this 269-room all-suite resort property on the Gulf of Mexico under a management agreement with the property’s receiver, who was appointed on behalf of the FDIC. The assignment ended with the property’s sale.

PALM BEACH AIRPORT HILTON – Palm Beach, Florida. BVHG operated this foreclosed 247-room full service hotel property at the Palm Beach International Airport during 1991 and 1992 under a management agreement with the FDIC. The assignment ended with the property’s sale.

PEERY HOTEL  – Salt Lake City, Utah. Through our affiliated partner Boutique Hotel Group, the 50+ room property was managed for Fremont Savings through a receivership and foreclosure during the 2002 Winter Olympics in Salt Lake, City, Utah. The hotel was sold at a profit within six months of the turn around. The management ended with the sale of the Hotel.

COUNTRY INN & SUITES  – Dallas Fort Worth Airport, Texas, Our affiliate Boutique Hotel Group managed this hotel for a three year period for Frernont Saving. This 93 room hotel ultimately sold to an individual who is now self managing,

MANHATTAN SEAPORT SUITES  – NYC, NY. Boutique Hotel Group has managed this hotel through the receivership and foreclosure for Orix Capital. The fifty room Hotel is located at the Seaport: in Downtown Manhattan and has recently sold, at this time it is still managed by Boutique Hotel Group.

ARNOLD PALMER’S ISLEWORTH COMMUNITY – Orlando, Florida. A BVHG principal was appointed Receiver on April 30, 1991 on behalf of Mellon Bank, by the 9th Judicial Circuit Court for Orange County, Florida. The Receivership lasted until the property’s foreclosure sale in June, 1993. During the period of the Receivership, Buena Vista Hospitality Group managed this 820 acre, 400 lot super luxury private golf development where lot prices ranged from the mid $100,000’s to $500,000. Finished homes sold for $500,000 to $3,900,000. In an environment of multiple lawsuits, BVHG negotiated agreements with all parties to release and convey lots to purchasers. Lot sales during the Receivership exceeded $20,000,000. BVHG totally restructured the club membership program from an initiation fee to refundable deposit program, successfully transferring all existing members to the new program. BVHG then reestablished the membership marketing office and increased membership by 35% during the Receivership period.

LAKEWAY RESORT COMMUNITY – Austin, Texas. BVHG managed this 5,000 acre 6,000 lot residential planned community from 1990 to 1995 for a subsidiary of NCNB Texas under an asset management arrangement with the FDIC. The project included three golf courses, one of which was the renowned Hills of Lakeway signature course by Jack Nicklaus, a 300-slip marina, a tennis center with 20 outdoor and 2 indoor air-conditioned courts, 4 restaurants and an airport. Operations budgets exceeded $10,000,000 annually, while returning $1,500,000 cash flow to the FDIC. BVHG had a membership sales program for 2 golf clubs and 1 tennis club, successfully managing over 1600 members. Real estate sales were restricted to a re-sales program due to contractual status of the property. This assignment was in place for 5½ years until the property was sold to Ross Perot.

RIVER WILDERNESS – Manatee County, Florida. BVHG managed this 1,300 acre 750 unit planned private golf community in 1994 and 1995 for Amresco and their client NationsBank. The project included an 18-hole golf course, 30,000 square foot clubhouse, tennis courts and marina. BVHG resolved a longstanding conflict with owners regarding an in-place equity membership. The entire membership was transferred to a new program that protected their rights, while allowing ownership to proceed with a sale of the property. BVHG managed this property for two years until its sale.

GRASSY HILLS COUNTRY CLUB – Orange, Connecticut. BVHG managed this 18-hole championship golf course and club facility for Connecticut-based Center Bank in 1992/1993 until its foreclosure sale.


IMPERIAL LAKES – Manatee County, Florida. BVHG provided consulting services in 1994 to Amresco and their client, NationsBank, for this 600-acre residential community and its semi-private championship golf course operation. This assignment was for a period of six months until the property’s loan restructuring was completed.