The Hospitality Industry and COVID-19 with Scarlett Hotel Group
In this episode, host Phil Coover and Jay Augustyn of Ice Miller LLP are joined by Zio Pekovic and Rob Sadoff of Scarlett Hotel Group, a hotel owner and operator based in Chicago, to discuss the hospitality industry and its challenges in the face of COVID-19. Despite these challenges, Scarlett Hotel Group maintains a growth mindset, exploring distressed investments and creditor advisory opportunities. Scarlett Hotel Group proactively and transparently implemented procedural and practical changes in hotel operations and infrastructure to safeguard guest and employee health and safety in response to COVID-19. Mr. Zio Pekovic is a co-founder and principal of Scarlett Hotel Group. During his career, Mr. Pekovic has cultivated strong relationships with owners, brokers and financial institutions throughout the country and internationally, allowing him to identify both on- and off-market opportunities for investors. His focus includes identifying and analyzing potential hotel investments and structuring joint-venture partnerships with private equity funds, endowment funds, family offices and private investors. Mr. Pekovic is also involved in asset management and investor relations and is responsible for third-party management and receivership opportunities. Mr. Rob Sadoff is a co-founder and principal of Scarlett Hotel Group where his focus is in the investment and development of hotel real estate assets. Since the formation of his new company in 2017, Mr. Sadoff has managed the execution of each transaction for the company’s portfolio of owned hotels. His expertise in deal structuring, franchising, financing and legal oversight provides the team with the confidence to execute and close on each transaction. Additionally, Rob’s strong business reputation of high ethics has been the catalyst for the addition of new capital and joint venture partners.Jay Augustyn is a Partner in Ice Miller’s Real Estate Practice. He represents clients in all manners of real estate transactions, including acquisitions and dispositions, financing, leasing and joint ventures. Jay also advises investors, developers and entrepreneurs in fund formation and investment matters with respect to the federal Opportunity Zone program and other federal, state and local programs to improve efficiency of project financing.For more information, visit https://scarletthotelgroup.com/.