Providence Hospitality Partners to Operate the Lodge and Breckenridge
September 21, 2009
Denver – A subsidiary of Lehman Brother Holdings LLC has take possession of The Lodge at Breckenridge and has selected Denver based Providence Hospitality Partners as the operating entity.
Widely considered one of the country’s top “turn around” operating specialists, the PHP team has nationwide experience in over 30 receiverships and institutional asset assignments, ranging in size from a 42 unit boutique hotel to a 750 room city centre property.
“The ultimate goal of this assignment is to maximize the property’s value in the most efficient manner, so that the lender may receive full value upon disposition,” stated David B. Storm, President of PHP.
“To accomplish this goal, we will immediately set forth a plan to upgrade all guest rooms, select public areas, launch a comprehensive food and beverage program and add a seasoned sales team to implement Providence’s strategic marketing initiatives,” notes Storm.
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