Sandman Savrann Articles

Article

Transacting with a Hotel REIT—What You Should Know

Hotel REITs are prominent participants in the hotel industry. They act as hotel buyers, owners and sellers, and hold hotel debt.   More»


Article

The Washington State Hospitality Law Manual, Third Edition

The Washington Lodging Association (WLA) released the newly-completed Third Edition of the Washington State Hospitality Law Manual at the WLA’s annual convention earlier this month.  More»


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The Lessons of Sheraton v. Castillo Grand

Castillo Grand developed a 5 diamond ocean-front resort and residences project in Fort Lauderdale and sought to flag it as a St. Regis. Castillo entered into the usual package of branded management agreements with Starwood’s management subsidiary, Sheraton Operating Corporation. On November 18, 2011, after 5 years of litigation between Castillo and Sheraton, the New York state court in Westchester County entered its 83 page decision. The result: the court ordered judgment for Castillo and against Sheraton for over $30 million. What happened in the case and what lessons can be learned?  More»


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"Push Me - Pull You" – In the Transition to a Better Economy, the Brands Get Tough.

The franchisor-franchisee relationship is often a “push me - pull you” affair. Whether the relationship is dominated by pushing or pulling varies from one year to the next, depending largely on the franchisor’s brand strategy and deal flow.   More»


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The Hotel Industry Recovery: Where We Are, the Black Swans, and Current Strategies for Owners and Buyers

The Post-Meltdown world continues to be a strange, changing place for the hotel industry. Where are we now? What unusual attributes of our situation are we now discovering? And how can we use our knowledge and understanding to achieve success as hotel owners and buyers?   More»


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Financing A Hotel Ownership or Management Business – Practical Advice

You need money; and you know you need a plan to get it. What is it about money that evokes the fear in getting it? We have a great idea; why doesn’t the world rush to our door with money to make it happen? We see projects being funded that don’t hold   More»


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Owning and Operating a Hotel or Motel - Common Legal Issues & Practical Advice

Entire specialized libraries are filled with volumes and books of wisdom and technical advice. Therefore, to break down and/or condense all that wealth of knowledge into a few bullet points in a short article is understandably overwhelming and next to impossible.   More»


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Meltdown Opportunities for Hotel Buyers: The "Hotel Restructuring" and the Acquisition Out of Bankruptcy

As the meltdown/recovery cycle grinds away, opportunities remain relatively scarce, but they do exist. Buyers can seek out "The hotel restructuring opportunity." They can also seek to buy hotel assets out of bankruptcy. What is the context for these opportunities, what are they about, and how can they be captured?  More»


Article

Entering the Asset Management Game - A Guide to Successfully Making the Transition

The hotel industry is seeing an increased interest among hotel companies to provide hotel asset management services. What are the pressures that are driving this trend? What are the best practices for securing asset management engagements?  More»


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Hotel Owners, Lenders and Stakeholders Square Off: Equitable Subordination

The hotel industry’s year-over-year declines continued in the second quarter of 2009. Demand is leveling out at a lower baseline, and the hotel industry is adjusting to a new reality.  More»


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Hotel Loans In Trouble - Pointers For Lenders

Lenders who understand the unique and complex aspects of hotel collateral can avoid costly missteps and resulting losses.  More»


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Approaching the International Hotel Project Intelligently: Considerations to Reduce Complexity, Costs, and Risks

The forces of globalization continue to change our world, and with it the hotel industry. In response, U.S. hotel developers, brand owners, and investors have continued to accelerate their efforts to extend their reach across borders and apply their skills in new, international markets  More»


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Troubled Condo Hotel Workouts – the Time Has Arrived

The recent collapse of the residential real estate boom has put significant stress on the hotel industry’s fledgling condo hotel segment.  More»


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When a Condo Hotel Implosion Appears Imminent, What Can Be Done?

In February 2006, we warned that some borderline and even ill-advised condo hotel projects were being pursued. We asked, if a borderline project is built, how can the owners’ association or the developer (if he is still in the game) help avert an implosion?   More»


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What is a Condo Hotel, Why Does it Work, and Why is it Challenging?

Condo hotels, the industry’s hot new segment, has been given prominent billing at virtually every hotel conference in the past three years. The writing on the subject, however, can seem dense and confusing to the uninitiated.   More»


Article

Condo Hotels: Three Years into the Concept

Condo hotels have been the industry’s new, hot segment for the past three years. At virtually every hotel conference, the topic has been given prominent billing.   More»


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Troubled Hotels and the Renegotiation of Management Agreements

It was the hotel industry’s “perfect storm”: the bursting tech bubble, a recession, 9-11, the war in Afghanistan, the SARS scare, and the invasion of Iraq.  More»


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Condo-Hotels: How Developers and Owners’ Associations can Avert a Hotel Implosion

USA Today published a full-page article in its business section entitled “It’s a Hotel. It’s a Condo. No, It’s Both!” Hoteliers and developers are not accustomed to seeing the lodging industry’s business trends make national news in the general press. The USA Today article clearly demonstrates that the condo hotel rage is in full swing.  More»


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The Condo Hotel Rental Program Agreement

As Bart Bartholdt concluded his article “The Condo Hotel: When Might the Security Laws Apply” (© 2005 Graham & Dunn PC), “[s]tructuring a rental program to be offered in connection with Units in a condo hotel, in such a way as to avoid the securities laws, requires careful attention.” In the spirit of “careful attention” this article looks at elements of a rental program agreement (“Agreement”), offering comments and discussion illustrating the unique operational issues it presents. Each project and hotel owner is unique, therefore the guidance and language provided is intended as a starting point for the drafter.   More»


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