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Prepared by:Prepared by:Jack WestergomJack WestergomManaging DirectorManaging DirectorManhattan Hospitality AdvisorsManhattan Hospitality Advisors
Meet The Money 2010Meet The Money 2010
 
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INDUSTRY FUNDAMENTALSINDUSTRY FUNDAMENTALS
Apparently ³the Economy´ has survived and so willthe hospitality industry!
2009 was the worst year in hospitality history.
Bling is out! Value is in! Risk is bad!
Signs of economic improvement are on the horizon.
Renewed activity in the manufacturing sector.
Stability in the housing market.
Unemployment remains high and will for some time.
GDP increases at higher than anticipated levels.
 
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INDUSTRY FUNDAMENTALSINDUSTRY FUNDAMENTALS
H
otel debt markets have not improved.
Terms are not favorable for transactions.
B-note & mezzanine debt purchases are preferredmethods to eventually own distressed assets.
Cap rate consensus while still difficult is emerging.
Identifying ³Fulcrum Position´ the positionnecessary to gain control of an asset at foreclosureis difficult.
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