Darryl C. Fluhart
Darryl is a versatile and time-tested professional with a three decades plus resume of accomplishment within the hospitality, golf and real estate industry segments. He has served in varied capacities throughout his career…at both the property and corporate level...as an employee, consultant, partner, owner…at times as a team member, often leading the charge, and frequently functioning as able “right hand man” to the general manager, developer/owner, company CEO, investor(s), or other stakeholder constituency.
His assignments over the years have ranged widely, encompassing such areas as asset and property management, new business development, strategic planning, investment analysis, policy and internal controls formulation, operations trouble-shooting, contract negotiation, oversight of financial, accounting and other administrative functions, serving as general manager, controller and in other senior management capacities at the property level during times of particular challenge, uncertainty or transition.
In 1986, with four other partners, Darryl founded Buena Vista Hospitality Group (“BVHG”), a development, marketing, management and consulting company established for the purpose of assisting third party owners of hotels and resorts on a fee-for-service basis. During the 1986-2003 timeframe Darryl and his partners in BVHG were engaged to provide services for approximately 50 different branded and independent hospitality projects, with the company gravitating increasingly in the 1990s toward projects for which golf was the core amenity.
He served as court-appointed Receiver and in related judicial and workout capacities on multiple occasions during and since the S&L debacle of the late 1980s / early 1990s, representing traditional lenders (REO), special servicers for securitized pools (REMIC / CMBS), private equity investors, governmental agencies, and other parties-in-interest in hospitality-, golf-, leisure- and other real estate-based projects.
A representative overview of Darryl's distressed asset judicial appointments and non-judicial workout experience during the 1986-2003 period while a founding partner of BVHG:
Project Type and Components: Roadside motels, full service commercial hotels, condotels, destination resorts, golf clubs, and private golf communities, often including varied ancillary components, such as retail, office, common elements associations, restaurants, parking, marina, air strip, tennis, and other recreational amenities.
Duties in Foreclosure and Bankruptcy Actions: Receiver, independent manager, shoppers service / operations audit, expert testimony under oath, stay lift assistance, unsecured creditors petitioning for approval of lender's competing reorganization plan, fiduciary and various other responsibilities.
Courts of Jurisdiction: 9th, 17th and 20th Judicial Courts for Orange, Osceola, Broward and Lee counties in Florida; Superior Court of Camden County, Georgia; U.S District Court for the Midddle District of Pennsylvania, and other federal courts, in bankruptcy proceedings.
Representations / Parties-in-Interest: Traditional lenders with non-performing loan and REO portfolios (Great Western Bank, First Union National Bank, Center Bank, Mellon Bank, NationsBank, Goldome Savings); governmental agencies (FDIC, RTC); and special servicers and other constituencies in CMBS-REMIC trust securitizations (AMRESCO, Niagara Asset Corporation, LNR Partners, Inc., Wells Fargo Bank, Bankers Trust Company, Credit Suisse First Boston, others).
Workout Assignments: Owner representation, advisory-consultancy services, asset and operations management, supervision of required PIP renovations, contestation of franchisor-threatened brand defeasance, retention and/or recoupment of project valuation, due diligence for buyers and sellers of debt and/or project, and other such roles in enacting client strategies with respect to owned or targeted for purchase loan(s), project(s) or portfolio.
Darryl departed BVHG in 2003 in order to accept a consultancy assignment with CNL Hospitality Group, as advisor to hotel real estate investment trust (REIT) CNL Hospitality Properties, Inc. ("CNL"). His primary role while serving in that capacity was to direct the due diligence process and guide the assimilation of a portfolio of 57 hotels and resorts into CNL, as occasioned by the merger of a Tennessee-based REIT into the company.
Upon successful completion of that consultant work, Darryl was engaged by CNL as VP, Portfolio Management and Administration, in which capacity he provided oversight with respect to various real estate-related matters (e.g., purchase due diligence, land use, entitlements, declarant rights, future project development rules, etc.) and served as asset manager for fourteen (14) branded and independent properties owned by the company located throughout the United States.
Since mid-2009 Darryl has been pre-opening consultant to a mega-condohotel developer in Orlando, assisted a multifamily and mixed-use land investor in site selection and investment analysis, and served other clients. He registered Champion Hospitality Group, LLC ("CHG") as a limited liability company in Florida in 2009, and recently established Champion Asset Advisory Services as a DBA for CHG, an action taken to more accurately reflect his substantial experience and expertise in real estate, varied property types and other industry segments in addition to the hospitality and golf sector.
Darryl is an alumnus of the University of Missouri–St. Louis where he earned his MBA. He is married, has 6 adult children, 15 grandchildren, and resides in Orlando, Florida.