Consolidated Resorts, Las Vegas
Restructuring and Bankruptcy Analysis of a Large Timeshare Company
RCA consultants provided resort and timeshare expertise to the financial advisory firm, Trimingham, for its engagement with GMAC, one of the primary lenders to Consolidated Resorts, to evaluate the company's assets, projected cash flow, and go-forward options as the company prepared to enter bankruptcy. RCA consultants conducted the management assessment, review of sales and market expenses and corresponding options for dramatically decreasing costs during the market downtown, and assisted in the creation of the proposed debtor in possession budget and liquidation analysis.
Mount Cranmore, New Hampshire
Asset Management and Disposition of Bank-Owned Resort
RCA consultants were engaged by the Massachusetts-based commercial bank to act as the asset manager for this bank-owned resort, which included overall responsibility for the resort operations, firing and hiring a new General Manager, and reorganizing the staffing structure to create a more profitable and efficient operation.
As a separate project, RCA consultants created the marketing materials to sell the resort to private investors and then conducted the sales process and facilitated due diligence with the preferred investor. The resort was sold successfully at a favorable price within a nine month period.
Ski Industry Market Assessment and Strategic Investment Plan
RCA was hired by Investinor AS, an economic development arm of the Norwegian Government charged with investing in Norwegian industries in order to generate foreign capital for Norway, in a market assessment of the Norwegian ski industry and corresponding strategic business plan and investment strategy. RCA was also charged with providing guidance on potential exit strategies for the sovereign fund once the industry had matured. RCA led this project team that included specialists in mountain planning, capital markets, and financial planning.
The focus was on assessing the overall ski industry for growth opportunities, prioritizing which resorts showed the greatest potential for becoming destination experiences, evaluating summer activities and potential mountain resort connections to the existing summer cruise market, evaluating the size of the available source markets given access from major western European portals, and providing a program for capital improvement initiatives and operating structure that would fulfill the original goal.