Challenge
Hotel le Crystal was controlled by 3 stakeholder groups (a condo board, hotel board and tenants board) which comprised of 50 international stakeholders with language barriers and time-zone conflicts which complicated the gathering of essential documents and approvals.
Highlights
- High-end property in the Downtown City Center
- Well-maintained site in an attractive area
- Prime location near historic landmarks
- Prime opportunity to increase investment
Action
Team Rullier sourced the lawyer that assisted in bringing every international stakeholder of Hotel le Crystal together. We gathered all the owners to receive necessary approvals and expedited the sale while mitigating risk to the client. Amidst discussions with stakeholders, an additional condition emerged that complicated the sale. The future buyer must be able to maintain the luxurious standards of the Hotel, respecting its value and quality. In addition, we conducted a bid process to ensure the buyer met the condition.
Results
After two rounds of bidding, we narrowed it down to ten offers. Finally, Warwick Hotels and Resorts were chosen for its sterling reputation and exceeding the sellers’ requirements.
Testimonial
“Working with Joe and Team Rullier proved to be a wise choice for the challenging sale of Le Crystal. Joe adapted his service to meet the needs of the many owners and syndicates. Not only did he contact each of them, but took the time to listen to them and elaborate on the most appropriate strategy for their needs. His approach and dedication proved successful. We are pleased to have found the ideal buyer.”