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Boston: James O’Connell, Principal of O’Connell
Hospitality Group, LLC and Robert J. Crawford, President of
Hospitality Resolutions, Inc have announced the formation of
a new venture called Collateral Strategies, Inc. Collateral
Strategies (“CS”) will provide lenders, loan servicers,
borrowers and investors with focused strategic plans
designed to assist with portfolio and single asset credit
recovery. CS's Credit Strategies will identify the maximum
recoverable value for both the asset and the collateral
debt. CS's team will assist its clients in achieving optimal
values for troubled hospitality loans and investments.
Bob Crawford and Jim O’Connell worked together at the Bank
of New England in the early 90’s. As leaders of the BNE
Hotel Group, they provided internal strategic assistance to
lenders and workout officers as they negotiated resolutions
for troubled loans. Their in-depth knowledge of the work-out
process allows them to assist borrowers facing critical
maturity dates as well.
“There is a crisis of capital, credit and confidence
impacting financial markets today, just as there was in
1990. Jim O’Connell and I are combining our knowledge of the
lending and workout specialties with our combined hotel
industry expertise to create strategic plans that achieve
optimal values for both lenders and investors.” Said
Crawford, CEO of Collateral Strategies.
O’Connell Hospitality Group will continue to be a leader in
hotel sales and financing transactions. However, with $700
Billion of commercial paper maturing in 2011 and 2012, the
credit crisis of 2008 and beyond will have to be resolved
upstream. While foreclosures will still occur, early credit
resolutions typically lead to far greater recovery values.
The CS Team will identify critical paths to achieving
appropriate recoveries with cost-effective strategies.
O'Connell added “Hotels, after all, are capital intensive,
operating businesses valued almost exclusively on cash flow
– Resolving hotel debt and recovering hotels values are, for
most, challenging objectives. Bob and I have worked on over
a $Billion in hotel debt and OHG has sold over $Billion in
hotel assets. Our combined experiences are invaluable for
lenders and borrowers in today’s commercial real estate
marketplace. Based upon feedback from clients across the
country, we believe that this venture will provide our
clients with successful results.”
For information on Collateral Strategies Inc. please visit;
www.collateralstrategies.com
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