The short-term process includes raising the occupancy levels, improving operations, making recommendations for capital improvements, and placing and supervising an on-site manager. Colliers Towle, a Minneapolis-based commercial real estate firm, will also act as a receiver in foreclosure situations.
Leines has experience in turning distressed properties for a company that owned 23 hotels of various brands – an experience guiding hotels that has added to his understanding of the function, health, performance and valuations of hotels, the company says.
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