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Hotel oversight assigned due to legal dispute

San Diego firm gets receivership of Holiday Inn Express and Best Western in Valencia

Posted: January 10, 2014 2:00 a.m.
Updated: January 10, 2014 2:00 a.m.
 

Two Santa Clarita hotels have been placed into receivership by the courts while a legal action is pending.

The local hotels are the Holiday Inn Express and Best Western off Magic Mountain Parkway at the Interstate 5 freeway.

Trigild of San Diego was appointed receiver of five hotels, including the two in Valencia, by the Superior Court of California, County of Monterey. The hotels include three Marriotts, a Best Western and a Holiday Inn Express.Financially, the hotels are healthy and assuming oversight of the hotels has nothing to do with the health of the businesses, said a spokeswoman for Trigild.

Online reviews have been positive as well.

“We’re the receiver and working to run operations and working closely with managers while a legal action is pending,” she said.

The spokesperson declined to describe the legal action.

“A court will appoint a receiver when there’s a concern about how assets are being distributed used or disposed of,” said attorney Brian Koegle with Poole & Shaffery in Valencia.

Without knowing the specifics of this case, he said, a receiver would be set up by the courts if there is a concern by a secured creditor about revenues that are coming in or going out of the business. The receiver is put in place to physically monitor and handle the revenues that a business will bring in.

“It’s a very costly system,” Koegle said. “But it guarantees creditors will get paid something.”

“Trigild’s role is to minimize any disruption to guests and employees and maintain value of the assets for the benefit of all parties involved with the hotels,” said Judy Hoffman, Trigild president.

The firm has nearly 40 years of property management and fiduciary expertise, with a focus on managing and maximizing value for assets in an array of industries, including hospitality.

“Our operations team is working closely with the onsite property managers for each hotel and will concentrate on improving revenue, as well as the overall guest experience,” Hoffman said. “In addition, Trigild will work closely with the franchisors throughout the receivership to ensure operations run smoothly.”

The hotels Trigild assumed responsibility for primarily serve the corporate and extended stay markets and are each located near major commercial hubs.

Of the other three hotels in the group, two are located in Thousand Oaks and one is based in San Luis Obispo.

jana@signalscv.com
661-287-5599

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