Baltimore man launches niche hospitality consulting firm

Hospitality industry expert Michael Haynie has recently announced the launch of Parkway Hospitality Management, which will specialize in the niche market of distressed properties, foreclosed properties and those in receivership.

Research reportedly indicates that securitized hotel loans have the highest default rates of any commercial mortgage-backed security. The delinquency rate of 13.83 percent implies that hotel loans worth $9.3 billion are currently classified as delinquent. Due to this trend, a niche market has emerged in which corporate real estate and financial entities find themselves in the possession of a hospitality property without the knowledge or experience about how to best manage them and thus uphold their value. Parkway will provide these entities with the expertise they lack, Haynie said.

The hospitality expert has already assembled a team of professionals in sales and marketing, accounting, revenue management, operations, food and beverage, human resources and training and development, and he hopes to make his business become the premier hotel management consultancy in the nation. It is reportedly already one of Maryland's first African American owned and operated hospitality management firms.