In the Zone with Vinay Sharma, In-House Counsel & Vice President at Baywood Hotels

Published on August 3rd, 2023

Updated on August 3rd, 2023

This episode features Vinay Sharma, In-House Attorney & VP at Baywood Hotels. Baywood started with one 23-room motel in Laurel, MD, and has since grown into a hotel development & management company with approximately 130 properties across the US.

In the thick of the pandemic, NFE's relationship started in December 2020 with a cold call from NFE account executive Vanessa Sardi. Baywood was looking at how to survive the downturn and analyzing ways to improve its bottom line; Vanessa's call was undoubtedly timely!

After collaborating on 15 projects, we're thrilled with the results! We are proud to work with Baywood, providing solutions that have resulted in $53K+ year-over-year premium savings & ≈$670K+ in added property value for the portfolio.

Vinay shared some powerful takeaways from our journey together:

  • Avoiding lender-force-placed coverage and annual renewal headaches is priceless.
  • Our collaboration has significantly impacted underwriting and assessing potential acquisitions in flood zones.
  • When expertise isn't in-house, seeking the experts is smart!
  • Always double-check those flood designations with the right resources.

It's been an incredible ride, and we're looking forward to many more successes with Baywood Hotels!

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