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Real Estate Research
May 3, 2011
 
 Trends in Hotel Capital Markets
 
David LoebManaging DirectorReal Estate and Hotel Senior AnalystRobert W. Baird & Co.dloeb@rwbaird.com414.765.7063
Please refer to Appendix - Important Disclosuresand Analyst Certification.
 
 Today’s Topics
 
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Hotel transaction market
•
Debt capital markets
•
Equity capital markets
•
Questions
Baird Real Estate Research | 2
 
Quick, Get Me Some Prozac!
Baird Real Estate Research | 3
Source: Baird Research, Smith Travel Research 
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