Category Archives: Real Estate Development

The Election of Andy Wirth as RASC Chairman

Posted on 05 November, 2016 in Flight Promotion, Real Estate Development

Andy Wirth was born in 1963. He currently works in the hotel industry in a mountain resort. Andy Wirth is the current Chief Executive Officer and President of Squaw Valley Holdings. When Alpine Meadows and Squaw Valley were combined, they formed the company. It is located in Olympic Valley. Andy Wirth is the grandson to Conrad Wirth.

For over 25 years, Wirth has worked in the hotel industry and mountain resort. In 1986, his career started at Steamboat Spring Resort. He has served in several leadership and marketing positions at the Steamboat Resort & Ski Corporation. In 2007, Andy Wirth was appointed the vice president of Intrawest and its chief marketing officer. Steamboat later acquired the company. In 201, Andy left the company to serve as the Chief Executive Officer and president of Squaw Valley. He took over management from Nancy Cushing.

Andy Wirth has received numerous professional and community service awards including the Reno-Tahoe Airport Boards Authority. He has led the Spring Boat Springs Company leading to his HSMAI top 20 Travel and Hospitality awards in sales and marketing. In 2014, he won the recognition by Disabled Sports as the Citizen of the year in the United States.

Reno-Tahoe Airport Service Authority announced the election of Andy Wirth as the president and chairman of RASC. Mr. Andy Wirth is the president of Squaw Valley Holdings. This is the parent company of Alpine Meadows and Squaw Valley Holdings. RASC is responsible for promoting trade and international flights in Lake Tahoe region. The board comprises of the hotel-casino regional properties and tourism in Reno and South Lake Tahoe.

Mr. Wirth is honored to be elected as a member of the steering committee in RASC. He believes that the great opportunity determines the future and landscape of the region. There is plenty of possibilities to expand the service of this committee. Air service continues to grow and remain the central growth elements in the region. For the authority to realize development, Andy Wirth has formulated a plan to have feeder flights from neighboring international flights. He has established a working relationship with the community around RASC to foster development.

Detail for Andy Wirth: http://kunr.org/term/andy-wirth


New Brunswick Development in Trouble

Posted on 01 April, 2016 in Real Estate Development

In 2005 one of the most anticipated real estate development projects in New Jersey by DEVCO was the development of The Heldrich, a 235-bed hotel and conference center located in New Brunswick, NJ. While the project was expected to do very well, the development and opening of the project ended up being timed poorly as it opened right around the time of the economic collapse.

Along with the collapse of the global and national economy, the hotel and conference industry struggled, and the Heldrich was not an exception. While it was expected to attract very large conferences and have a high occupancy, it has not been successful in getting the top attractions and the property has averaged no more than 65 percent occupancy.

Due to the low occupancy, the owners of the property have struggled to pay their loan and bond payments back. This past week the owners of the project defaulted on a $20 million CRDA loan, which was provided by bondholders through the Middlesex Country Improvement Authority. While the senior bond holders have been repaid, this level of debt is going to continue to be in default.