Don’t Call Ghostbusters

 Whether it’s “bet the farm” litigation, fraud or maturing loans, Alan Tantleff is there in times of crisis, transition, and transformation.

In October 2014, rival factions of the Picayune Rancheria of the Chukchansi Native Americans in California clashed in an armed takeover of the Chukchansi Gold Resort & Casino. Several employees were tased or held at gunpoint; the National Indian Gaming Commission closed the casino. Within a few hours, Alan Tantleff was on the scene on behalf of the rightly concerned lender group.

Eagle Hospitality Trust IPO-ed in Singapore in May 2019; within a few months, cracks began to develop in the financial structure. Vendors weren’t being paid, hotel operators threated to quit, and a default under the credit facility was days away. One operator told the board, “You can pick up the keys [to the hotel]; we’ll leave them on the front desk.” Within a few hours, Alan was installed as Interim President and Chief Restructuring Officer.

In 2020, the deal to sell Strategic Hotel Investors to affiliates of Korea’s Mirae Asset Management had fallen apart. Chinese seller Anbang Insurance’s affiliate refused to return the more than $660 million deposit alleging that Mirae had breached the Purchase and Sale Agreement. In an expedited trial in Delaware Chancery Court, Alan testified that Anbang had, in fact, breached the contract. The judge agreed and ordered the return of Mirae’s deposit, plus interest and legal expenses.

 

The First Call When Deals Turn Upside Down

As Senior Managing Director and Leader of FTI Consulting’s Hospitality, Gaming & Leisure practice, Alan orchestrates turnarounds, restructures distressed assets, testifies, and provides thoughtful advice in all kinds of transitions and transformations. His success is built on speed, precision, and a kind of calm and calculated discernment that keeps businesses afloat while others panic.

Alan credits his success to his varied work experiences. He worked at blue-chip companies, including Prudential, Jones Lang LaSalle, and BlackRock, after beginning his career at casinos. “I started my career in gaming at the Sands, dealing with hard-charging and demanding casino executives making big bets every day. With all the ‘Type A’ personalities in the room, they needed someone calm and thoughtful with immediate answers. I was there. I wouldn’t trade that experience for anything,” Alan notes. He jokes, “I also worked in high school at a flea market selling women’s shoes. Those are the most demanding customers.”

With all the ‘Type A’ personalities in the room, they needed someone calm and thoughtful with immediate answers. I was there. I wouldn’t trade that experience for anything.

Transformational consulting and crisis management is not what Alan aspired to. “I really didn’t know much about it when FTI Consulting found me.” FTI Consulting (NYSE: FCN) was on a growth spurt and was looking for an industry leader in gaming and hospitality, and Alan fit the bill. Since he joined, the company has more than doubled in size, expanding its services and geographies.

Alan on Mentorship and Real Estate Careers

Alan has had a long history of working with students and provides regular mentoring. For the past two years, he’s served as co-chair of Cornell’s Real Estate Conference, organizing the annual New York City event. Last year’s speakers featured Prologis CEO Hamid Moghadam, Marriott CEO Tony Capuano, and other industry luminaries.

Students often ask Alan about the path to his current role: “A career path is a misnomer—no path is ever straight. Embrace opportunities and consider the importance of diverse experiences.” He believes that each of his unique jobs—from being a purser aboard multiple cruise ships, to putting in 14- to 16-hour days in a casino, to working for the country’s largest real estate owner and lender—have all provided unique, meaningful, and valuable skills for his current role.

A career path is a misnomer—no path is ever straight. Embrace opportunities and consider the importance of diverse experiences.

Alan is often surprised at the types of challenges his clients face, from allegations of fraud, theft of corporate secrets, cyber breaches, and insolvency. “I’m still astounded,” he says. “They don’t teach you this in college. Everyone wants to talk about development and feasibility. Bad things—really bad things—happen to good people,” he notes as he recollects that his entire board of directors for Singapore’s Eagle Hospitality Trust was arrested.

They don’t teach you this in college…[sometimes] bad things—really bad things—happen to good people.

With more than 30 years of experience in hospitality finance, real estate investment, and restructuring, Alan has cemented his reputation as a leading authority for hotels, casinos, and real estate investors navigating turbulent markets. As FTI Consulting secures its #1 spot as the Most Retained Financial Advisor in Octus’s 2024 Americas Restructuring Rankings, one thing is clear: as the world gets more complicated…there’s a growing market for Alan Tantleff’s skills.

 

Interested in Being Part of Our Organization?

As a volunteer-run organization, CREC relies upon generous Cornell alumni to provide leadership, direction and expertise to fulfill our mission. If you are interested in volunteering with CREC for the Cornell Real Estate Conference, please reach out to Alan Tantleff at alan.tantleff@fticonsulting.com. You can also register for our annual conference here.