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Condo Hotels: the Good, the Not So Good and the Ugly

Condo Hotels: the Good, the Not So Good and the Ugly. Selection of a Condo- Hotel Management Company. Featuring:. Jerry Cataldo, Hostmark Hospitality Group Grant Sabroff, Boykin Management Company. What to Avoid and How do we get it Right the First Time?.

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Condo Hotels: the Good, the Not So Good and the Ugly

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  1. Condo Hotels: the Good, the Not So Good and the Ugly Selection of a Condo- Hotel Management Company

  2. Featuring: Jerry Cataldo, Hostmark Hospitality Group Grant Sabroff, Boykin Management Company

  3. What to Avoid and How do we get it Right the First Time?

  4. Case Study: Jerry Cataldo

  5. Hostmark Hospitality GroupCase Study • 39 unit condo-hotel • Seasonal resort market • Developer owned common areas • Management Company owned desk • Operating Agreement between Condo Association and Management Company • Agreement structured by Developer

  6. Hostmark Hospitality GroupCase Study – Management Issues • Advance Deposits • Sales & Marketing • Ownership Accounting • Unit Rotation • Communication (Transparency) • Self-serving agreements entered into by Management Company

  7. Hostmark Hospitality GroupCase Study • HOA terminates Management Company • HOA assumes “desk” operations • HOA operates 9-10 months • HOA files lawsuit against Management Company • Developer caught between HOA and Management Company

  8. Hostmark Hospitality GroupCase Study • HHG retained as Operator • Structured agreement to address issues • Transparent Management Style • Alignment of Expectations

  9. Case Study: Grant Sabroff

  10. Management, How To Get a Project To Work: Rick Ross, ISHC

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