Real estate bonds are fixed-income capital market instruments that are secured by income-producing property (IPP). They come in the form of a property or mortgage bond.
The first-lien mortgage is the senior-most loan secured by real estate having priority claim against a property. It is first in the chronological order in which all mortgage loans are filed and recorded and payment upon the property's disposition.
Commercial real estate lending is provided to finance income-producing property that is to be built, to refinance and restructure existing real estate financing, and to acquire distressed or non-performing loans (NPLs).
Sustainable Human Factors (People)In the United States, hotel management companies typically employ all hotel staff. Outside the US, the owners of hotel property typically employ hotel staff and liable for all employee claims, while the management company only assigns certain personnel to serve in key positions.
Since the pandemic snuffed out hotel room demand, hoteliers have been digging through the resulting financial rubble in search of revenue. Unfortunately, focusing solely on revenue generation from rooms can obscure financial recovery vision.
Under a hotel lease agreement, the owner of a hotel property leases it to the tenant, who uses it to run its hotel business. The owner (landlord) has no control over the property's operation and bears no risk and liability for the hotel business.
The Operator Selection ProcessOperator selection is undertaken by developers and owners for the appointment of the hotel management operator. The process involves candidate identification, screening, and contract negotiations, generally together with the owner's legal counsel.
Hotel OwnersThe owner of hotel property - the site and building as well as the furniture, fixtures and equipment (FF&E) and operating supplies and equipment (OS&E) - is the hotel owner. The owner receives the return on the investment in the property but also bears the risk of property ownership.
The development manager has overall responsibility for the control of project risks and any actions associated with them throughout the project life cycle. The development management agreement (DMA) governs the relationship between the contract parties, minimizes the project risks, and increases the efficiency and quality of the resulting development.
Project Development Management (308)Development management is the strategic planning, administration and controlling of a project during its development life cycle, from project planning through to construction completion and project exit.
