WHO COULD BENEFIT FROM CHAMPION SERVICES?
Champion has the expertise and will produce results at or above expectations in performing contracted services for stakeholders holding or seeking interests in hospitality, golf, leisure and related real estate projects. Prospective clients, among others, include project developers, owners, investors, lenders, special servicers, management companies, legal counsel and other representative agents of these constituency groups.
Champion's commitment is to generate best possible outcomes for each client served. Delivering on that commitment requires that Client and Champion be "on the same page" prior to commencement of an engagement. Agreements reached between Client and Champion during pre-engagement discussions with respect to Client's concerns and desired outcomes, scope of work, deliverables, deadlines, compensation terms, rights and responsibilities, and any/all other materially relevant issues will be documented in an Engagement Letter and executed by both parties prior to commencement of work by Champion.
Could your project benefit from any of the following services offered by Champion?
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Focus is on first hand observation, fact-gathering, analysis and reporting of findings and recommendations by Champion to Client for his/her decision-making, strategy formulation and other relevant purposes with respect to their project. Champion will provide Shoppers Service on a one-time, intermittent or ongoing basis as circumstances warrant and Client directs. The Engagement Letter may call for a general Property Review of key areas: life safety, physical assets condition and maintenance, marketing, operations, guest experience, financial performance relative to potential, and/or related matters....or it may direct a targeted focus on a highly specific area(s) of concern. Scope may be high-end in nature...for example, Champion could be engaged to assess market dynamics and advise Client with respect to project performance relative to potential, future valuation enhancement prospects, sale pricing considerations, buy-hold-sell strategy formulation, etc. The Shoppers Service may be announced in advance to a Client-specified limited audience, e.g., to certain members of the project's on-site senior management team...or not announced / totally confidential...the choice is the Client's and will be situation-driven.
Champion will, on behalf of Client and subject to terms outlined in the Engagement Letter, analyze current conditions, practices and performance at the subject property and affirm same or recommend alternate optimal course(s) of action with respect to any or all of the following critical asset preservation and sales-, profit- and valuation-determinative elements/processes (a representative listing only), or additional factors not listed: on-site sales team, media and promotional programs, price strategy, corporate sales personnel and programs, franchisor relationship, external sales agents; human resources, payroll expense - staffing guidelines and levels, pay rates, overtime, employee benefits; purchasing, receiving, storage and issuance of goods; internal control documentation and adherence for all operational and administrative departments; accounting and financial reporting, A&L reconciliations / lead schedules, audit responses; regulatory and legal compliance; risk management; physical plant, systems and fixed assets upkeep and preservation.
INVESTMENT DUE DILIGENCE
Persisting conditions of economic malaise and capital market difficulties across hospitality, golf, leisure and most other US industry segments will likely continue for the foreseeable future, presenting both watershed opportunities and extraordinary challenges to prospective investors in their risk assessment, offer price determination, and capital formulation activities for targeted acquisitions. Champion will, on behalf of Client as prospective buyer of an asset(s) or note(s) collateralized by the asset(s), participate as a member of Client's due diligence team, spearhead the due diligence process on behalf of Client, or otherwise assist Client as specified in the Engagement Letter scope of work, to ensure optimize decision-making by Client with respect to the "no-no go" question, and if determination is made to proceed, at what price, subject to what representations and warranties, and at what other terms in the offer letter, RSP response or other sales transaction document.
In an Asset Management role, Champion will serve Client as an Owner (or Investor, Lender or other party-in-interest) Representative on a month-to-month retained basis subject to the terms of the Engagement Letter. In that capacity Champion will strive to continually protect and optimize Client's interests with respect to the property's physical assets, commercial operations, risk management and other key areas. The scope of work desired and directed by Client may range from high-level to in-depth / aggressive (“Operations Management Lite”). Champion will interface with the onsite senior management team to the extent authorized / specified by Client, and within the constraints imposed by Franchise, Management and other Agreements then in effect, to help ensure top outcomes with respect to financial results, guest satisfaction and other key areas of property performance. Champion will review and monitor all franchisor-driven programs and associated costs to ensure that maximum benefit to the project and its stakeholders is derived from the brand affiliation. Third party Management Company performance will be assessed on a continuous basis to ensure the project is being managed intensively and professionally, to the maximum benefit of the Client and other stakeholder constituents.
RECEIVERSHIPS & OTHER JUDICIAL APPOINTMENTS
Champion will serve ably as Receiver, expert witness, as an ally in a foreclosure stay lift initiative, or in other court-appointed or judicial context capacities in support of a lender's, special servicer's, or other Client's goal of securing control on a timely basis of property collateral and operational cash flows. To the extent permitted by available funds, Champion will strive during the pendency of a receivership period to go beyond the customary caretaking and fiduciary roles, by actively seeking out low (or no) cost value-add opportunities for the project. Champion is open to the possibility of partnering with management companies and other interested parties if its previous receivership and related court experience is deemed by prospective Client to be potentially helpful in responding competitively to management contract RFPs and other such opportunities as they are presented.
DISTRESSED ASSETS WORKOUT ASSISTANCE
Non-Judicial Workout Services: Champion will assist Client charged with distressed assets/problem loans responsibility in identifying, selecting and successfully enacting an optimal resolution strategy(ies) that honors the respective interests of the various stakeholders in an out-of-court workout circumstance. Champion is prepared to assist other Clients, with capital and the capacity to create value, in taking advantage of investment opportunities with substantial upside presented by the current credit and economic climate. Whether distressed situation or a value-add opportunity, Champion will assist Client in crafting and enacting a business strategy that improves the results of underperforming assets. Examples of other workout services that Champion will provide with professionalism and excellence on behalf of Client (a representative listing only): Business Plan development & implementation, project cost analysis, turnaround management / project repositioning, forensic accounting, assistance with debt & equity restructuring, surfacing of qualified distressed asset and/or debt buyers or sellers.