Probably the most useful tool in the arsenal of a creditor seeking foreclosure on a hotel property is the appointment of a receiver.  The primary reason for the appointment of a receiver would be to preserve the property being foreclosed during the pendency of the foreclosure action. Additionally, the creditor may also be looking to cash from business operations as part of its collateral.  In such cases, the appointment of a receiver is a means of stopping the outflow of cash through the debtor and accumulating it with the receiver during the pendency of the foreclosure.  The receiver is a fiduciary and has responsibilities to take and keep possession of the property, receive rents, collect debts and do all things necessary to preserve the property and to act as the court may authorize.