Running head: THE ARTS PROPERTY AND HOTELThe Arts Property and HotelNameInstitution1THE ARTS PROPERTY AND HOTEL2Executive SummaryCharlie Croker project focused on the construction of a hotel that would host the OlympicGames in Barcelona and the projection into the profitability of the project created an opportunityfor Croker to look for financial assistance. The negotiation of the deal with Sogo saw him incharge of the operations of the hotel. The project did not go as expected and this saw an increasein losses and the delay in the completion of the project. The financing of the project was stoppedand this lead to increase in complexities as delays in the project increased the costs of thecompany. The real estate industry instability resulted in the need to focus on the property valueand the solution towards the improvement of profitability.THE ARTS PROPERTY AND HOTEL3The Arts Property and HotelCase FactsCharlie Croker approached the Faus law firm with the aim of discussing the project thatthe developer got of building a hotel in Barcelona. Croker did not have the funds for theconstruction of the hotel but found the money through Sogo that was a leading JapaneseDepartment and retail conglomerate where Real Cortez was to serve as the operator of the hotel.Charlie Croker got the funding and was in a position to main the control and the governance ofthe project. The signing of the agreement there was obtained of the rights to build, and thisgu ...
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