Hotel & Motel Management - December 10, 2007 - (Page 40)

40 News H&MM December 10, 2007 | HotelMotel.com LIIC’s mission The Lodging Industry Investment Council (www.liic.ws) is the premier think tank in the hotel industry. Its members include a diverse mix of 70 inﬂuential leaders in the real-estate and ﬁnance ﬁelds. Membership is by invitation. Co-chairmen: Mike Cahill, president and founder, HREC—Hospitality Real Estate Counselors; Sean Hennessey, c.e.o., Lodging Investment Advisors Vice chairman: Jim Butler, partner, Jeffer Mangels Butler & Marmaro Mike Cahill Jim Butler Sean Hennessey Roundtable Continued from page 39 terested in locking in the franchise and management agreement and working through and getting the ﬁnancing.” Bill Sipple, corporate v.p., development, full-service hotels for Carlson Hotels Worldwide, said a unique situation is beginning to occur. “We’re starting to have more people ask, ‘Who can I go to for debt?’” he said. “We hadn’t had that in probably three years.” Adam Valente, v.p. of RockBridge Capital, said there also has been a new-found interest in mezzanine ﬁnancing. “It’s been three years since mez- ONLINE EXTRA! LIIC roundtable tackles operations, green issue, available online at www.HotelMotel.com/phoenixliic. zanine was discussed in our industry,” he said. “There is that void in the capital sector that we’re excited about. Fundamentals are great. Rate growth is good for the next few years, especially in the tech markets. Overall, we’re bullish.” Bill Blackham was the president and c.e.o. of Eagle Hospitality Trust before selling it this past summer to AP AIMCAP Holdings, a joint venture of Apollo Real Estate Fund V and afﬁliates of Aimbridge Hospitality and JF Capital Advisors. Blackham said there is no way to immediately measure the effects of the current environment, especially because ﬁnancing is being stabilized by different stacks of capital. “That’s what’s happening,” he said. “Mezzanine will make up for some of what was previously ﬁrst mortgage. There’s going to be repositioning of higher yields along the way, as there was in ’98, as there were in prior cycles. The full effect of it is 12 months out.” jhigley@questex.com News Briefs Prism Hotels & Resorts, Telemark Hotel Developers and Hotel Assets Group formed Viking Hospitality Fund LLC, a joint venture to build 30 new hotels under the Hilton Hotels Corp. and Marriott International brands over the next three years. For the nine months ending Sept. 30 and the third quarter 2007, revenue per available room for InterContinental Hotels Group’s brands was: InterContinental: 10.2 and 8.9 percent, respectively; Crowne Plaza: 7.2 and 7.7 percent; Holiday Inn: 4.8 and 4.5 percent; Holiday Inn Express: 7.1 and 5.9 percent; Staybridge Suites: 3.5 and 3.5 percent; Candlewood Suites: 2.2 and 2.6 percent; and Indigo: 18.8 and 16.1 percent. Compiled by Stephanie Ricca, sricca@questex.com CIRCLE NO. 111 http://www.HotelMotel.com http://www.liic.ws http://www.HotelMotel.com/phoenixliic http://www.hotelinvestmentconference.com

Table of Contents Feed for the Digital Edition of Hotel & Motel Management - December 10, 2007

Table of Contents News Wildfires test hotels' emergency plans LIIC roundtable: Capital available for hotel projects Departments Perspective Letters to the Editor At Your Risk Family Business Matters Sales Clinic On Finance Satisfaction Trends HotelWorld Update Events Trends & Stats Special Report H&MM's "year in review" tackles the top seven in 2007 Transactions Consumer Insight Travelers rank free breakfast high on must-have items Hot Products IH/M&RS Editors' Choice Award winners Construction Spending up, costs steady in construction Design Window treatments Ad/Editorial Index Marketplace Classifieds Checking Out

Hotel & Motel Management - December 10, 2007

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