Victoria 'Vicki' S Richman

Experience

Vicki Richman knew that she loved hotels after taking a month-long trip with her family at age 13 and they stayed in hotels every night – some were wonderrful and others - not so much. But she fell in love with hotels and decided right then that hotels offered a special experience that she wanted in her life.

Vicki is responsible for all contract negotiations with brands and operators for our clients, exclusively representing owners. She has spoken extensively on this subject and is driven to secure the ideal agreement for our clients, tailored to what is ideal for each owner. 

Vicki’s background includes Systems Analyst for a large regional bank, Director of Consulting for a premier hotel consulting firm, Director of a hotel development company, and overseeing all financial operations, Consulting, and Asset Management for HVS Hotel Management and HVS Asset Management. She has personally owned three hotels so her understanding of deal structure, debt, equity, and management of hotels is not just as a consultant, but as an investor. Clients appreciate the unusual combination of her detailed financial analysis and unparalleled eye for quality which provide them with the best of both worlds.

Vicki has been asked to speak on many panels as an expert in hotel finance, owner representation, and asset management. She is a member of the prestigious Global Finance Committee, a joint task force of the American Hotel & Lodging Association and Hospitality Technology & Finance Professionals, which is responsible for writing the Uniform System of Accounts for the Lodging Industry, the hotel industry’s accounting standards. Vicki was also recognized by Lodging Magazine as one of the industry’s “Outstanding Women in Lodging”.

Vicki earned a Bachelor of Arts in Political Science from Brown University and an MBA from The Wharton School at the University of Pennsylvania. Vicki was honored to have been appointed by the Governor of Rhode Island to serve on the Advisory Board for Rhode Island’s School Building Authority which controls state funding of building and equipment improvements in the state’s 32 school districts.

Testimonials

"We engaged HVS for Asset Management services and within 6 months they turned around our property performance and we were achieving significantly better RevPAR index scores. I would highly recommend HVS for advice and assistance in planning, developing, and operat[ing] a hotel." – Mike Harral, Vice President of Development Wilkinson Corporation

Education

Brown University, BA, Political Science, 1981
University of Pennsylvania, The Wharton School, MBA, Finance, 1985

Employment History

CFO & COO, HVS Asset Management & HVS Hotel Management
CFO, American Hospitality Management Company
SVP Finance, American Hospitality Management Company
Director, Consulting Services, Stephen W. Brener Associates, Inc.
Consultant, Stephen W. Brener Associates, Inc.
Operations Analyst, Hibernia National Bank

Expert Witness

Best Western Canterbury Inn 2002 Shakopee, MN Former Owner sued by Buyer
Building owner vs Hennepin County 2003 Minneapolis, MN Building owner in condemnation for mixed-use development
Royal Hotel 2004 Rochester, MN Architect sued by Owner for E&O
Diplomat Country Club & Spa 2006 Hallandale, FL Owner sued architect for E&O in design impacting revenue and expense
Hyatt Regency New Orleans v insurer 2006 New Orleans, LA Owner business interruption claim
ZZZ Inn 2007 Pinedale, WY Owner sued by lessee – not allowed to take possession
Lawsuit vs Hennepin County 2007 Minneapolis, MN Landowner in condemnation for baseball park
Hampton Inn 2007 Tilton, NH Owner sued by former partner for value of franchise after dissolution
Hampton Inn Crossroads 2010 Boston, MA Owner-operator sued lender for selecting unqualified operator as replacement
AmericInn 2012 Cedar Rapids, IA Investors sued developer/partner for fraud, insider dealing, mismanagement
Hotel Owner vs State of MN 2013 Minneapolis, MN Landowner in condemnation for ancillary uses for football stadium & transportation center
Mondrian 2014 Los Angeles, CA Owner sued operator for charging fees on lessee revenue
Partnership dispute 2015 Various – GA Misappropriation of fees

Speaking Engagements

Johnson & Wales University (2020) - Hotel Asset Management - Managing Capital Expenditures 
Johnson & Wales University (2020) - Overview of Hotel Asset Management
The Lodging Conference (2019) - What Are You Looking For in a Management Company?
Americas Lodging Investment Summit (2018) - Moderator, Selecting a Brand
Hotel & Lodging Legal Summit, Georgetown University Law School (2018) - Primer on Hotel Exonomics for Attorneys
Association of University Real Estate Officers (AUREO) (2017) - Finding the Delivery Model That's Right for Your Campus
The Lodging Conference (2017) - Panel Presentation on Asset Management
Hotel & Lodging Legal Summit, Georgetown University Law School (2016) - Dealing with Brands and Brand Standards
Hospitality Law Conference (2015) - Moderator
Quirk Charrette (2014) - Hotel Finance For Non-Hotel Finance People
Hotel Development Planning Charrette (2014) - Developing a Hotel for Operational and Investment Success
North American Hotel Investment Conference (2014) - Orientation to the 11th Edition Revisions of the Uniform System of Accounts for the Lodging Industry
National Association of College Auxiliary Services (NACAS) Annual Meeting (2013) - Overseeing Your Campus Hotel
Association of University Real Estate Officers (AUREO) (2013) - Making University Hotel Projects Work
Association of Commercial Real Estate Women - DC Chapter (2010) - How Are Hotels Faring in the Downturn?
Boutique Lodging Conference (2010) - Financing for the Future (Moderator) 
Southwest Hotel Developer Update (2010) - Investment in Capital and Analytics are Key to Survival

My Articles

Critical Components of an Effective “Order to Appoint a Receiver” – From the Lender’s Perspective

It is inevitable – many hotels will go into receivership and/or foreclosure in the coming months. Some owners cannot afford to fight any longer, some lenders cannot kick the can down the road any longer, or any number of other reasons will start them down this path.

• September 16, 2020 By Victoria 'Vicki' S Richman

• Hotel Investments & Ownership , Lending , Economic Trends and Cycles , Hotels - Distressed , COVID-19 , United States , North America