idm hospitality management portfolio 2014

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Page 1: IDM Hospitality Management Portfolio 2014

UNIQUELY INDEPENDENT

Page 2: IDM Hospitality Management Portfolio 2014

MeetTeamthe

Page 3: IDM Hospitality Management Portfolio 2014

An entrepreneur at heart, Craig “Nedd” Neddersen is the Co-Founder and President of IDM. He is responsible for the operating results of all hotels in the management portfolio along with associate recruitment and development – a cornerstone of IDM’s success. Beyond the growing portfolio, Nedd is particularly proud of consistently delivering financial returns to IDM clients through effective hotel and food & beverage management and consulting.

Nedd brings more than 30 years of management and operational experience to IDM, encompassing nearly every position in the business: from starting as a prep cook in a Utah ski resort to serving as executive chef at a 450-room, Four Diamond hotel in St. Louis; and a general manager of a 550-room resort on the Big Island of Hawaii to developing and operating the highly successful Eagle Harbor Inn in Ephraim, Wisconsin. Nedd has developed three hotel properties and, through first-hand experience, understands the myriad of details involved in the creation of a successful boutique hotel.

Nedd works from Ephraim where he lives with his family. He graduated from St. Olaf College with a degree in Psychology and has a passion for skiing.

PRESIDENTCraig “Nedd”

Neddersen

Connie is the consummate connector and has a true love of the hotel business, a perfect combination for the person heading business development. A Co-Founder of IDM, Connie is involved in both the management and development segments of the business. Working closely with the executive team, she facilitates all aspects of branding, marketing, programming and third-party contracts.

Connie’s outgoing personality and networking capabilities adds to her 30-plus years of hotel sales and marketing, public relations, meeting and special event planning. She has worked her way up in the hospitality industry; from the director of sales for a 500-room Four-Star convention hotel in Houston, Texas to a regional director of marketing for a large hotel chain responsible for 15 midsized hotels in the Midwest.

Actively involved in a variety of organizations, Connie serves on the Board of Directors and was the 2012 Chairman of the Wisconsin Hotel and Lodging Association, as well as on the Board of Directors for Greater Madison Convention and Visitors Bureau. She lives in Fort Atkinson and is a graduate of the University of Wisconsin-Stout with a degree in Hotel and Restaurant Management and Tourism minor.

Connie BarbianPARTNER,

DEVELOPMENT & MARKETING

Page 4: IDM Hospitality Management Portfolio 2014

Sean has prepared more than 35 major market studies and feasibility reports for IDM throughout the Midwest and as far away as Grand Cayman Island. His hallmarks are thorough analysis and intuitive market forecasting to deliver reports and develop strategic business plans. IDM has relied on Sean to enhance the performance of all hotels in the management portfolio and deliver sound counsel to hotel developers and owners alike.

Sean is a leader in providing technology, Internet and electronic distribution solutions (or Global Distribution Systems) for the hospitality industry. He has worked for nearly all the major U.S. hotel brands and fully understands the importance of applying integrated solutions to drive rate, maximize occupancy, and improve overall distribution for hotels.

A graduate of Johnson & Wales University in Providence, Rhode Island, a school specializing in the hospitality industry, Sean has a Bachelor’s degree in Hospitality Management. Prior to IDM, Sean’s experience in the hotel industry has included development, operations, sales and marketing, revenue management, and market analysis. Before joining IDM in the boutique market, Sean worked extensively with brands such as Hilton, Starwood, and Marriott.

Sean is an avid traveler and lives in Waukesha, a suburb of Milwaukee.

VICE PRESIDENT of BUSINESS ANALYSIS

Sean Skellie

Becky has her finger on the pulse at IDM, responsible for day-to-day operations of the management division. For more than a decade, she has provided operational support to the hotels in the portfolio, improving the productivity and profitability for each property through guidance and training of the general managers.

A veteran of the hospitality industry, Becky brings passion and talent for organization, training and teamwork. She first entered the hospitality industry focused on community tourism. As the founding full-time director of two independent Convention & Visitors Bureaus, her interest in the broad stroke of tourism was cemented. She served as general manager for a number of Midwest hotels over twelve years before joining IDM, including AmericInn and Hawthorne Inn & Suites. After five years serving as the General Manager of IDM’s first development project, The Beloit Inn, she made the natural transition to IDM’s corporate office as Director of Operations, a position she has since held for six years.

Focusing on operations, Becky is responsible for supervision offered to each managed property of IDM, from training initiatives and human resources to detailed operational inspections and standards of operation, with the goal that every property achieves top-line sales and bottom-line results.

Becky RogersDIRECTOR of OPERATIONS

Page 5: IDM Hospitality Management Portfolio 2014

Glenna is responsible for all operations of the accounting department, including on-property audits and training, as well as corporate financial planning for the firm. Glenna brings more than 20 years of tourism and business experience, which makes her both an ideal fit and significant asset to IDM and our clients.

Glenna spent two years with Great Wolf Resorts at their corporate office in Madison, Wisconsin, serving as senior resort staff accountant with responsibilities for day-to-day operations of the resort accounting staff. During her time with Great Wolf Resorts, she also traveled extensively to the company’s 10 U.S. resort properties for annual audits and on-property training, covering everything from inventory to point-of-sale to balance sheets.

Most recently, Glenna worked at CUNA Mutual Group in Madison performing consolidation accounting at the top level of the corporate accounting hierarchy. Dent also held senior staff accountant positions at Robert Half International, Inc. in Madison, a leader in specialized staffing services and, before that, at a number of firms in Denver and California. Glenna holds an Accounting certificate from National University in California.

CONTROLLERGlenna

Dent

Jane brings 15 years of experience in purchasing, housekeeping, multi-unit operations and corporate support to her role with IDM. Her tenure began with the development of The Beloit Inn and Jefferson Street Inn, overseeing research, purchasing, and installation of all FF&E.

Today, Jane is also responsible for IDM’s quality assurance evaluations, ensuring guest-oriented standards are upheld at each property. Having a direct relationship with each Housekeeping Manager gives Jane a “hands-on” approach to maintaining quality and resolving issues that may arise.

During her career, Jane has had responsibilities encompassing the entire life of a hotel – from opening to operations. Jane’s involvement begins early with extensive contributions to both schematic design and development to maximize guest satisfaction and offers functional operating efficiencies. She completes this circle with regular guidance to the housekeeping department, ensuring best practices, effective training and guest satisfaction are being met.

Jane PluffDIRECTOR of

COMPLIANCE & PURCHASING

Page 6: IDM Hospitality Management Portfolio 2014

Tara is involved in sales and marketing for IDM-managed properties. As a highly creative marketing professional, Tara spearheaded several marketing campaigns at Madison’s HotelRED, while working her way up through the ranks from front desk to Housekeeping Supervisor.

Highly motivated by things she feels passionate about, Tara is making her mark in hospitality industry. She oversees, analyzes, and assists in the online reputation management and marketing for each of the IDM properties. As technology and web-based communication continues to gain momentum throughout the industry, Tara is charged with keeping each hotel equipped and informed to successfully attract guests and interact with its clientele. Tara’s creativity and commitment to effective communication have led IDM’s efforts in the areas of online presence and innovative guest feedback.

Tara is a University of Wisconsin-Madison graduate with a degree in Communication Arts.

CORPORATE MARKETING COORDINATOR

Tara Peterson

As part of the Operations Team, John provides vital support to the corporate and hotel teams. He is responsible for IDM’s hallmark associate training, preparing monthly statistical reports, and supporting the implementation of corporate initiatives. John also organizes conferences and leads IDM’s recruiting efforts.

John studied Political Science at the University of Wisconsin – Eau Claire and developed lifelong problem solving and networking skills while working in Washington, D.C. with the U.S. House of Representatives. Moving to Wisconsin’s state capital, John remained close to the political scene while he entered the hospitality industry. Serving as Guest Services Representative at HotelRED, John immediately fell in love with the hotel business and his skills in leadership and organization have helped him move up the ladder to IDM’s corporate office.

John is now an integral part of the Operations Team that creates long-term improvements for each IDM property, staying ahead of the hospitality curve. In an effort to combine his passions, John continues his involvement in politics as an active member in Wisconsin Hotel & Lodging Association’s Legislative Committee. He also serves as Vice Chair of the Wisconsin Hotel & Lodging Association’s Under 30 Gateway group.

JohnLundquistOPERATIONS COORDINATOR

Page 7: IDM Hospitality Management Portfolio 2014

PropertiesCurrent

Page 8: IDM Hospitality Management Portfolio 2014

After falling on hard times, the Cranberry Country Lodge went into receiver-ship in early 2014. IDM was contacted to help and was hired as the Asset Manager – we immediately got to work.

Cranberry Country Lodge is located in Tomah, Wisconsin. The 93 room hotel and conference center offers an aquatic center (free to guests), comfy lounge, expansive meeting space and an inviting Northwoods atmosphere.

As the Asset Manager, IDM hired all current employees and quickly brought the team up-to-speed so operations could continue as soon as possible. We installed a new property management system, took over the bookkeeping services and updated the website.

We are currently in the process of stabilizing the business and are marketing the property for sale.

Cranberry Country LodgeTOMAH, WI | WWW.CRANBERRYCOUNTRYLODGE.COM

STRUGGLING NORTHWOODS HOTEL GETS ASSISTANCE TO SUCCEED

93 ROOMS & SUITES | Managed Since April 2014

Page 9: IDM Hospitality Management Portfolio 2014

The Eagle Harbor Inn has served Ephraim, Wisconsin as a lodging facility for more than 65 years. Originally a cottage resort, development in 1985 allowed for a Bed & Breakfast option in the main house. Nedd and Natalie Neddersen purchased the resort in 1994 and redeveloped it into a nine-building village of traditional Ephraim farmhouses including a nine-room B&B, 19 one-bedroom suites and 13 two-bedroom suites. The resort offers unparalleled accommodations and a warm, welcoming atmosphere created by its dedicated staff. The condominium-style ownership of the Eagle Harbor Inn units became the inspiration for the Beloit Inn and the Jefferson Street Inn. The Eagle Harbor Inn outperforms competitors in the seasonal Door County

market year-round.

Eagle Harbor InnEPHRAIM, WI | WWW.EAGLEHARBORINN.COM

DEFINING THE PENINSULA AS THE CAPE COD OF THE MIDWEST

Managed Since April 2014

48 SUITES | Managed Since 1994

Page 10: IDM Hospitality Management Portfolio 2014

The Edgewater Resort in Ephraim, Wisconsin dates back to the early 1900s and today is one of Door County’s most historic waterfront resorts. The resort underwent a major renovation in the 1990s and now features 16 one- and two-bedroom condominium units and three cottages, which equates to 32 keys or rentable units. Other amenities include an exercise room, pool and spa. The resort is one of few hotels open year-round in the county. The resort also features the Old Post Office restaurant, serving breakfast and the famous Door County fish boil dinners for the public and guests. IDM provides management and bookkeeping services for the property’s condominium association.

Edgewater ResortEPHRAIM, WI | WWW.EDGE-WATERRESORT.COM

HISTORIC RESORT PROVIDING THE MOST PHOTOGRAPHED AND PAITED VIEWS ON THE PENINSULA

30 SUITES | Managed Since 2006

Page 11: IDM Hospitality Management Portfolio 2014

IDM claims dual roles in the renovation of this 150-year-old nine-story hotel, serving as both consultant for technical and development services and management company. The full-service 133-room/suite hotel reopened after a $30 million renovation in the summer of 2009. The restoration features more than 15,000 square feet of meeting and banquet space; Caroline’s, an American-fare restaurant; the Riverboat Lounge, and the Potosa Spa.

IDM services cover all the business aspects of the hotel from branding, advertising and design to revenue management and all the operational opening aspects of the business. IDM worked as consultant to the ownership during the decision-making process of construction which included the selection and purchasing of owner-supplied equipment, interior design decisions and architectural review. IDM prepared budgets, pro-formas and information required for lending and financing, and evaluated the layout and design of guest rooms and public spaces. IDM is the management company

for Hotel Julien Dubuque.

Hotel Julien DubuqueDUBUQUE, IA | WWW.HOTELJULIENDUBUQUE.COM

THE LANDMARK THAT BROUGHT NEW LIFE TO DUBUQUE’S HISTORIC DISTRICT

133 ROOMS & SUITES, 10 EXTENDED STAY SUITES | Managed Since June 2009

Page 12: IDM Hospitality Management Portfolio 2014

When the Clearwaters Hotel in Marshfield, Wis. closed a local investor stepped up to purchase the property at a Sherriff’s sale, paving the way for the hotel to be transformed into something everyone in the community could be proud of. The new owners hired IDM Group to help with all aspects of the transformation – from working with the architect, general contractor and interior designer and guest amenities to management and rebranding as Hotel Marshfield. The transition has been amazing; the hotel now includes 99 guest rooms, nine of which are extended stay suites; Libby McNeill’s a new restaurant and lounge; extensive fitness center; a boardroom, private dining room and two ballrooms with pre-event space for receptions and other gatherings. The interior courtyard features an outdoor pool; year round sauna, 2 whirl pools, one hot and one cold plus a fire pit with seating for 20. The interior design is modern yet warm with strong graphic statements that draw from Marshfield’s heritage. Hotel Marshfield employs 100 full- and part-time employees and opened in September 2013. It is the lead choice in the market for corporate and association meetings, wedding celebrations and special events, as well as a much-needed full-service hotel experience for hospital and clinic travelers to the area, youth sports groups, family reunions and weekend leisure visitors.

Hotel MarshfieldMARSHFIELD, WI | WWW.HOTELMARSHFIELD.COM

CREATING THE UNEXPECTED IN CENTRAL WISCONSIN

99 ROOMS & SUITES, 10 EXTENDED STAY SUITES | Managed Since August 2013

Page 13: IDM Hospitality Management Portfolio 2014

Madison, Wisconsin, a city known for its progressive culture and boundless creativity, deserved a full service luxury boutique hotel. In fact, it was long overdue. Enter HotelRED, a contemporary property with the most enviable views to the University of Wisconsin’s historic Camp Randall Stadium bar none. This project stalled under construction in the thick of the recession. Almost two years later, a new owner breathed new life into it and pledged to complete it in time for the start of the 2011 football season. In March, 2011 he immediately brought IDM Group on board to manage the technical service development of the hotel and as the management company to help soothe frayed relationships with neighborhood groups, build partnerships with nearby retail and the university, complete all the interior design, design, and open the restaurant and lounge, hire and train all staff and handle all marketing, branding, and pre-opening services. HotelRED opened in mid-August 2011. The reviews of HotelRED by reporters and residents have been glowing. This contemporary property includes 48 guestrooms and suites with high-end furnishings, Euro-style baths, and well-appointed mini kitchens, 30 of which have furnished balconies and living room areas. The hotel also offers meeting rooms, private dining and The Wise, a contemporary lobby bar and restaurant

featuring small plates and craft cocktails.

HotelREDMADISON, WI | WWW.HOTELRED.COM

LAYING CLAIM TO THE CITY’S FIRST LUXURY BOUTIQUE HOTEL

48 ROOMS, SUITES, & EXTENDED STAYS | Managed Since 2011

Page 14: IDM Hospitality Management Portfolio 2014

The City of Wausau engaged IDM to supply a solution to a compelling need for a city center conference hotel. IDM implemented the community hotel concept of condominium ownership by community leaders in creating the highly successful Jefferson Street Inn and City Grill. The property opened in 2005 with 62 guest rooms/suites and 7,000 square feet of banquet space. In 2008 an expansion brought it to 100 rooms and 14,000 square feet of banquet facilities. IDM developed this mixed-use office, residential, hotel, restaurant and meeting facility project, and is both manager of the hotel and owner of the restaurant.

City Grill - An American Bistro is an upscale gathering place for food and beverages in downtown Wausau. The facility meets the needs of both sophisticated social gatherings and multimedia business meetings.

Jefferson Street InnWAUSAU, WI | WWW.JEFFERSONSTREETINN.COM

ANCHORING WAUSAU’S ARTISTIC AND HISTORIC RIVER DISTRICT

100 ROOMS & SUITES, 16 EXTENDED STAY SUITES | Managed Since April 2005

Page 15: IDM Hospitality Management Portfolio 2014

Milwaukee’s only boutique, historic art deco, extended stay hotel was in need of an infusion of energy and a guiding hand to make it a more compelling choice for young travelers and businesspeople on the go. IDM Group was hired by the owners to breathe new life into The Plaza Hotel, a fixture on the city’s eclectic lower east side, by offering a fresh perspective on staffing, amenities and marketing. On the branding front, IDM repositioned the guestroom and suites separately from the apartments that also fell under The Plaza name. They offered the culinary team at the Café at the Plaza creative freedom to produce the kind of menu the chef had long hoped for, with a mix of entrees designed to draw locals in greater numbers than ever before. It is ranked in the top 5 favorite breakfast places in Milwaukee. IDM has brought new technology to the historic hotel including on-line booking, property management system and restaurant management system and the rebranding of the hotel and website. In addition IDM and the owners are working with a hospitality interior designer to carefully plan a restoration of public spaces and guestrooms in 2014 -2015. Now this local treasure is part of the city life, lending proof to IDM’s philosophy that historical significance and modern relevance can be a powerful combination.

Plaza Hotel MilwaukeeMILWAUKEE, WI | WWW.PLAZAHOTELMILWAUKEE.COM

SHOWCASING PERFECT LOCATION AND UNRIVALED HISTORIC AMENITIES

89 EXTENDED STAY SUITES, 100 APARTMENTS | Managed Since 2012

Page 16: IDM Hospitality Management Portfolio 2014

IDM’s track record of turning around bank-owned assets has resulted in repeat business from many receivers. Such was the case with a 102-room property in Janesville, Wisconsin. Once a popular hotel bar and meeting place, the Best Western Midway Motor Lodge and Left Guard Restaurant had experienced three receiverships and multiple owners who did not reinvest in the property and eventually lost the brand flag. Therefore the current bank turned to IDM to refresh the property. IDM implemented a plan that included staffing, training and overall management.

Overseeing extensive capital improvements, IDM managed the renovations and rebranding and now operates the property and F&B operation as the Ramada Janesville. The bank expects to hold the property for up to five years.

Ramada JanesvilleJANESVILLE, WI | WWW.RAMADA.COM

A ROCK BOTTOM PROPERTY NOW SEEING BETTER DAYS

100 ROOMS & SUITES, 5 EXTENDED STAY SUITES | Managed Since 2012

Page 17: IDM Hospitality Management Portfolio 2014

DevelopmentUnder

Opening in early 2015, Hotel Vandivort will complete the transformation of an historic masonic temple into an urban four-diamond hotel. The project is the passion of its local owners, who turned to IDM to manage the initial phases of Development Consulting including technical services, branding, hiring and training.

Hotel Vandivort will be an upscale independent boutique hotel with 50 rooms and suites. The lobby level’s open floor plan calls for an inventive bar concept serving a full breakfast and small plates for lunch and dinner. The full-service hotel will be Springfield’s only high-end property in downtown and surrounding market filling a need in the community.

Following our philosophy for pre-opening, IDM is working with ownership to form downtown community partnerships in an effort to build a book of business before the doors open and to foster long-term success for this premier hotel. IDM will continue working with the hotel after the opening providing ongoing Management Services.

Hotel VandivortSPRINGFIELD, MO | WWW.HOTELVANDIVORT.COM

TRANSFORMING HISTORY AND CHARACTER INTO A PRIME DOWNTOWN BOUTIQUE HOTEL

Page 18: IDM Hospitality Management Portfolio 2014

2011-2014ManagedProperties

Page 19: IDM Hospitality Management Portfolio 2014

Originally developed by IDM president, Craig Neddersen, The Beloit Inn opened in 2001 and was IDM’s first management contract. IDM created a condominium model owned by community leaders who elected to invest in business class condo-hotel as a strategic investment to spur downtown growth. The 54 suites and guestrooms provided the highest level of hotel service in southern Wisconsin. Café Belwah, 140 seat restaurant also provided catering services to the meeting and banquet rooms. IDM provided complete management services including all operations, accounting and human resources along with brand creation and sales and marketing. More than 40 full and part time jobs were created. IDM reported to the Condominium Board of Directors. The Beloit in was successful in spurring not only economic growth for the community but IDM and the hotel staff became instrumental in the development of many civic events and programs that continue today.

In December 2012, a local business owner finalized the purchase of all of the condominium units and now operates the property as the Iron Works Hotel.

The Beloit InnBELOIT, WI | 54 ROOMS & SUITES, 18 EXTENDED STAY SUITES

Located in the heart of downtown Milwaukee, the Best Western fell into financial turmoil and Hotel Receivership. IDM was hired by Wisconsin’s most respected law practice to quickly take over, manage and turn-around hotel operations. While improving brand standards, rebuilding franchise relations and making the hotel profitable, IDM attracted interested buyers to this opportunity.

Today the hotel is operated as the only Fairfield Inn in the central business district.

Best Western Inn Towne

Managed 2001-2012

MILWAUKEE, WI | 93 ROOMS & SUITES

Managed 2011-2013

Page 20: IDM Hospitality Management Portfolio 2014

Located on pristine Little St. Germain Lake in St. Germain, Wisconsin, Black Bear Lodge represents an assortment of lodging cabins located along 2,100 feet of shoreline. Hit hard during the recent economic downturn that affected discretionary vacation spending, the property was ultimately transferred to bank ownership.

In 2012 as the bank began seeking a permanent owner, IDM was hired to oversee all Hotel Management Services. IDM hired all of the employees, initiated capital improvements and is in the midst of a major rebranding.

Due to the successful operations, capital, and branding changes overseen by IDM, Black Bear Lodge has since sold to new ownership who currently operates the property year-round. They continue to offer cottages and one -and two-bedrooms suites, and provide a guest experience ranging from warm weather activities such fishing and boating through winter activities such as snowmobiling and ice skating at the resort.

Black Bear Lodge

The Clarke Hotel opened in 2009 after the restoration of several historic buildings in the city center of Waukesha, Wisconsin. It has all the makings of an extraordinary historic boutique property- centralized location, neoclassic design and unique accommodations including 20 suites.

After a full year of operation, IDM Group was hired on as a short term to provide operating guidance including the facilitation of a new property management system, internet and GDS presence and bookkeeping services.

IDM felt strongly this hotel needed to be saved for the City of Waukesha, as the city had helped finance the renovation, turning what were once dilapidated downtown buildings into this full-service, high-end hotel for corporate and leisure travelers.

With strong local management The Clarke Hotel will be the discriminating choice for visitors, the catalyst for downtown redevelopment and the city renaissance that residents had hoped for.

The Clarke Hotel

ST GERMAIN, WI | 14 CABINS, 24 SUITES

Managed Jan 2012 - Sept 2014

WAUKESHA, WI | 20 SUITES

Managed 2009-2010, 2012-2014

Page 21: IDM Hospitality Management Portfolio 2014

The Cove of Lake Geneva, the largest full-service property in a bustling downtown lakeshore destination, hit hard times following the 2008-09 recession. The condominium association was ultimately controlled by a receiver who immediately hired IDM to right the ship.

IDM brought on a seasoned General Manager to deliver service that attracted a predominately well-heeled Chicago clientele. We then assessed the operations and property, encompassing every inch of the hotel’s 222 individually owned condominium guest suites, indoor and outdoor pools, onsite restaurant, banquet and meeting spaces. IDM communicated with owners and the board, established sound accounting and bookkeeping records, developed a capital improvement schedule and cash flow analysis, launched a new website and actively managed revenue to increase cash flow.

With extremely limited working capital, IDM was able to reposition the property, increase revenue and work with the Hotel Receivership to pay off the entire debt due in a year’s time.

The Cove of Lake Geneva

An extraordinary 38 all suite full service luxury hotel, located just west of Milwaukee. The property was designed and developed by an owner who had a passion for history. The hotel was designed to attract the upper 10% of the region’s luxury market segment. It was recognized by Conde Nast Travel, was a Small Luxury Hotels of the World and the Only Preferred Boutique in the Midwest. Andrew’s Restaurant and ballroom is attractive and serves the high-end weddings market and corporate meetings.

The hotel opened in 2006. In 2007 IDM was awarded the management contract to reposition the hotel and market the hotel for sale. IDM ultimately repositioned the property to attract a broader audience, ultimately leading to higher revenues. It was sold in late 2009. Under new ownership IDM assisted the new owner in exploring the possibilities of guest room expansion, added services including spa and additional meeting facilities.

The Delafield Hotel

LAKE GENEVA, WI | 222 SUITES

Managed Nov 2013 - Feb 2014

DELAFIELD, WI | 38 SUITES

Managed 2007-2008, 2009-2011

Page 22: IDM Hospitality Management Portfolio 2014

While big law firms and national banks have the resources and funds to quickly transition hotels in foreclosure or reorganization, IDM has assisted many small banks with troubled properties in Hotel Receivership.

Such was the case of the Hotel Mead. In 2011, this iconic hotel fell onto rough times and the owners were forced to foreclose. WoodTrust Bank was appointed receiver and hired IDM to quickly secure and stabilize the property. Through market analysis, strategic repositioning, proper management, and demonstrating the financial potential of the hotel, IDM assisted the lender in successfully selling the hotel, while participating in the debt position.

Hotel Mead

Bank-owned and at the bottom, an Americas Best Value Inn on I90/94/39 just north of Madison WI, had little going for it except it’s location. In May of 2012, IDM was hired to manage and turn around this 54 room, limited-service hotel in stuck in a receivership. IDM brought in a team that would oversee capital improvements and began converting the hotel to a new brand. A forward thinking banker could see value in a fresh brand and some much needed renovation and invested approximately $500,000. IDM worked closely with Wyndham to repair a relationship which had been marred by prior ownership and efter creating consideratble change, the property was sold in February of 2014.

Super 8

WISCONSIN RAPIDS, WI | 148 ROMS & SUITES

Managed 2011-2013

WINDSOR, WI | 54 ROOMS

Managed May 2012 - May 2014

Page 23: IDM Hospitality Management Portfolio 2014

StandingsOur