NEW YORK, November 14, 2001 - Jones Lang LaSalle Hotels and Proskauer Rose will host a one-day conference titled HANDLING A HOSTILE HOTEL ENVIRONMENT: STRATEGIES FOR OWNERS, OPERATORS AND LENDERS on Thursday, December 13, 2001 at The Marriott East Side, 525 Lexington Avenue, in New York City.
During panel sessions, industry leaders from companies such as Blackacre Capital Group, Blackstone Real Estate Advisors, Boykin Lodging Company, Credit Suisse First Boston, Deutsche Bank, iStar Financial, Lazard Freres Real Estate Investors, LaSalle Hotel Properties, Marriott International, MeriStar Hotels & Resorts and WestLB, among others, will share their views on issues ranging from financing and operations to workouts of distressed properties. Owners, operators and lenders alike will explore the overall picture as well as day-to-day issues from business, financial and legal points of view.
CommercialRealEstateDirect.com will co-sponsor the conference. An industry overview plus four panel discussions will take place throughout the day:
Industry Overview and Outlook
Jones Lang LaSalle Hotels will present an overview of the industry focusing on 2002, including a summary of its most recent research publications on the impact of the economic downturn and the events of 9-11. Also presented will be the latest consensus forecasts by leading economists regarding the timing of an economic recovery.
A View from the Top: Impressions of Industry Leaders
Industry leaders representing owners, hotel chains and independent operators will provide their views of the state of the lodging industry. This panel will provide a broad and balanced view of the impact of 9-11 on the overall performance of 2001, as well as the outlook for 2002, on individual properties, chains and management companies.
Capital Markets Update: Love Me, or Love Me Not?
Can hotel investments and loans be underwritten? When will liquidity return to the industry? Top investors and lenders representing investors, banks, securitized lenders and mezzanine players will discuss how the industry will be financed in the future.
The Impact of the Downturn on Operations: Short, Medium and Long Term Implications on the Industry
Operating leverage can benefit owners during an up market, but it can be devastating during a down market as occupancies fall below break-even. Leading asset managers, operators and attorneys will discuss the impact of the recent events on operating issues including management and vendor contracts, real estate taxes and insurance and labor issues.
Workouts and Restructurings: Is this 2001 or 1991?
Key strategies and approaches for maximizing returns for both debt and equity players will be discussed by owners, lenders and attorneys. This panel will be oriented toward the debt, equity and mezzanine components of the capital structure.
Registration fees include breakfast, a luncheon featuring a keynote speaker (to be announced) and a closing reception.
For a registration form, please contact Karen Hawks at +212 812 5828 or via e-mail at karen.hawks@am.joneslanglasallehotels.com.
Jones Lang LaSalle Hotels, the world's leading hotel investment services group, provides clients with value-added investment opportunities and advice. Its recent two-year success story includes the sale of 13,994 hotel rooms to the value of US$1.4 billion in 48 cities and advisory expertise for 173,021 rooms to the value of US$32.6 billion across 343 cities. Jones Lang LaSalle Hotels' services include transactions, mergers and acquisitions, financial advice and capital raising, valuation and appraisal, asset management, strategic planning, operator assessment and selection and industry research. Jones Lang LaSalle (NYSE: JLL) is the world's leading real estate services and investment management firm, operating across more than 100 key markets on five continents. www.joneslanglasallehotels.com.
Founded in 1875 in New York City, Proskauer Rose LLP is one of the nation's largest law firms, providing a wide variety of legal services to clients throughout the United States and around the world. The firm has offices in New York, Los Angeles, Washington, D.C., Boca Raton, Newark and Paris. www.proskauer.com.
Commercial Real Estate Direct is the industry's authoritative source for news and information. The service keeps close tabs on the commercial mortgage-backed securities market, the investment-sales arena, REITs and the activities of institutional investors. Features include: the CMBS Pipeline, which contains details about upcoming and completed CMBS deals, and the Property Transaction Database, which provides market intelligence on investment-grade property sales.
www.CommercialRealEstateDirect.com.
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