In late 2008, The Port Authority of New York and New Jersey (the “Authority”) became the effective owner of the Ramada Plaza Hotel John F. Kennedy International Airport upon expiration of a ground lease between the Authority and the prior ownership group. CHM was retained by the Authority as asset manager to provide expertise and immediate assistance during the ownership transition and provide recommendations for a transition plan with the new management company. CHM is responsible for developing and executing a strategic asset plan that identifies operational and financial opportunities in line with achieving the Authority’s investment and operating objectives. Following the transition, CHM will provide traditional hotel asset management services, including hotel management oversight, financial review, risk management and facility oversight. The Ramada Plaza Hotel is the only hotel located directly on-site at JFK International Airport. The property features 478 guestroom and approximately 13,000 square feet of meeting and function space.