January 21, 2010: HVS Capital Corp announced that, acting as Financial Advisor in the United States Bankruptcy Court - Tenth Circuit- District of Colorado, it has assisted in the sale and funding of the Chapter 11 bankruptcy reorganization plan for the Vail Plaza Hotel & Club, in Vail, Colorado. The total sale price was $52 million. The purchaser, a Mexican investment company, paid $46.5 million for the hotel, with the balance coming from money escrowed from fractional club sales that had occurred prior to and during the bankruptcy.
"The bankruptcy reorganization for Vail Plaza Hotel & Club was a complex process involving numerous stakeholders, in which HVS Capital played an integral role as financial advisor," said Jeffrey Duni, vice president, HVS Capital Corp.
HVS Capital Corp is the investment banking division of HVS. Its three core areas of service are financing, investment sales, and capital advisory. The Special Hospitality Assets Group of HVS Capital Corp offers comprehensive services for lenders and borrowers in distressed asset situations, utilizing the relevant disciplines of HVS’ global consulting services to facilitate workouts of distressed hotel assets. Most importantly, HVS Capital Corp can access the necessary rescue equity to recapitalize a project, thereby alleviating the fundamental lack of liquidity in distressed asset situations.
HVS Capital Corp