Hotel Industry Presentations

The following are hotel industry presentations:

City National Rochdale Economic Update. Paul Single, Senior Economist and Managing Director of City National Rochdale, gives an overview of current economy and shares CNR's economic outlook. 

What Every Hotelier Needs to Know About Insurance and Controlling Costs. Jackie Collins, Senior Director / VP, Hospitality Practice for Gallagher, shares insights on insurance tailored specifically for the hospitality industry. 

Boutique Hotel Transaction Patterns. Ariela Kiradjian, Co-Founder, Partner & COO of the Boutique Lifestyle Leaders Association, explores the dynamic investment landscape of independent boutique hotels. 

AHLA Update 2024. Troy Flanagan, Executive Vice President of External Government Affairs and Industry Relations for the American Hotel & Lodging Association, shares AHLA's report on the state of the industry for 2024. 

2024 LIIC Top Ten. Michael Cahill, CEO and Founder of Hospitality Real Estate Counselors (HREC), presents the 2024 Lodging Industry Investment Counsel (LIIC) Top Ten which reveals the challenges and investment trends identified through an annual survey of LIIC members. 

U.S. Lodging Industry H1 2024. Daniel H. Lesser, Co-Founder, President, & CEO of LW Hospitality Advisors, examines the strengths, weaknesses, opportunities and threats for the U.S. Hotel Industry in 2024. 

Finding the Right Expert & Introduction to ISHC. Kristie Dickinson, Managing Director/EVP of CHMWarnick, gives an overview of the services provided by the International Society of Hospitality Consultants. 

Lodging Performance Outlook 2024. Luigi Major, MAI, a Managing Director of HVS Americas, gives an update on hotel performance, valuation metrics and construction costs for 2024. 

Rising Above Rates: Successful Deal Strategies in a Cash Constrained Market. Jonathan Falik of JF Capital Advisors and Guy Maisnik, Vice Chair of JMBM’s Global Hospitality Group, lead a panel of industry experts discussing innovative approaches for hotel developers and investors to make deals happen in a challenging economic environment. 

EB-5 financing and other critical immigration employment issues for hotels. As part of a Meet the Money Investment Boot Camp Session moderated by David Hirson Esq. of David Hirson & Partners, a panel of experts discussed using immigration categories to finance projects in the hospitality industry.

City National Rochdale Special Presentation. Paul Single, Senior Economist and Managing Director of City National Rochdale, gives an overview of CNR's economic outlook and the key issues driving change.

California Hotel Market Overview. Alan X. Reay, President of Atlas Hospitality provides an overview of the hotel market in California and compares it against previous years.

ISHC Capex 2023 Preview. Warren G. Feldman, CEO of Nehmer, gives a preview of the International Society of Hospitality Consultants (ISHC)'s report on trends in capital expenditure by the hotel industry.

2023 LIIC Top Ten. Mike Cahill, CEO and Founder of Hospitality Real Estate Advisors (HREC), presents the Lodging Industry Investment Counsel (LIIC) Top Ten which reveals the challenges and investment trends identified through an annual survey of LIIC members.

LARC’s U.S. Outlook Overview and Market Forecast Highlights. Ryan Meliker, President of Lodging Analytics Research & Consulting (LARC), provides an economic forecast for the lodging industry and identifies the upcoming top U.S. markets.

Lodging Industry Outlook: Demand, Debt and Deals. Romy Bhojwani, Director, Hospitality Market Analytics of CoStar Group, examines new trends in lodging industry fundamentals and looks at the economy's anticipated impact on hotels.

Lodging Performance Outlook 2023. Luigi Major, Managing Director - Americas of HVS, analyzes new trends for 2023 and the impact of current events on hotel performance and values.

U.S. Lodging Industry H1 2023. Daniel Lesser, President & CEO of LW Hospitality Advisors, identifies strengths, weaknesses, threats and opportunities for the U.S. lodging industry in 2023. 

Special Servicer Training for Distressed Hotel Assets. Video recording of September 10, 2020 presentation on issues faced by special servicers when dealing with distressed hotel assets, including budgets & forecasts and what's beyond loan extensions in workouts. This presentation is given by Jim Butler, Chair of JMBM's Global Hospitality Group® and Jack Westergom, Managing Director and Founder of Manhattan Global Hospitality Advisors.

CMBS Special Servicing FAQs Roundtable. Video recording of July 8, 2020 roundtable on important issues and urban myths about special servicing of CMBS loans in the wake of the COVID-19 events. This session is moderated by Jim Butler of JMBM's Global Hospitality Group® with insights from special servicers Andrew Hundertmark (CEO, Argentic Services Company), Curt Spaugh (Director, SitusAMC, Special Servicing Division), Lindsey Wright (Senior Managing Director, Greystone Special Servicing). Legal input is provided by Tom Biafore (Partner, Kilpatrick Townsend) and Bob Kaplan (Partner, Jeffer Mangels Butler & Mitchell). Meet the Money® Online 2020 series – WebEx video recording.

Hotels & Information Security - Protecting Guests and the Bottom Line. Video recording of June 25, 2020 webinar on information security in the hospitality industry. This session is moderated by Robert Braun of JMBM's Global Hospitality Group® and Cybersecurity and Privacy Group with presentations from Jonathan Adam (Co-Founder and Chief Technology Officer, Tiered Communication Services, Inc.), Jack Westergom (Managing Director and Founder, Manhattan Hospitality Advisors), and Heather Wilkinson (SVP, FINEX E&O/Cyber, Wills Towers Watson). Meet the Money® Online 2020 series – WebEx video recording.

Where Technology and Security Meet in Hotels. Slides from the June 25, 2020 webinar "Hotels and Information Security - Protecting Guests and the Bottom Line" presented by Jonathan Adam, co-founder and Chief Technology Officer, Tiered Communication Services, Inc. This presentation covers the primary elements required for information security, and how a secure hotel network should be designed. Meet the Money® Online June 2020 - PowerPoint presentation.

Best Practices and Imperatives for Information Security. Slides from the June 25, 2020 webinar "Hotels and Information Security - Protecting Guests and the Bottom Line" presented by Robert Braun, co-chair of JMBM's Cybersecurity and Privacy Group, and senior member of JMBM's Global Hospitality Group®. This presentation discusses why information security is so difficult to achieve, the importance of documentation, and why verifying third parties is critical. Meet the Money® Online June 2020 - PowerPoint presentation.

Cyber Security - A Must in Today's Viral World. Slides from the June 25, 2020 webinar "Hotels and Information Security - Protecting Guests and the Bottom Line" presented by Jack Westergom, Managing Director and Founder of Manhattan Hospitality Advisors. This presentation explains why hotels are frequent targets of cyber crime, areas in which hotels can be proactive, and why you shouldn't count on your brand for protection. Meet the Money® Online June 2020 - PowerPoint presentation.

Cyber Insurance in the Hospitality Industry. Slides from the June 25, 2020 webinar "Hotels and Information Security - Protecting Guests and the Bottom Line" presented by Heather Wilkinson, SVP, FINEX E&O/Cyber, Willis Towers Watson. This presentation discusses why hotels need to determine their specific exposure, the importance of understanding what your cyber insurance actually covers, and the 5 main cyber threats that hotels are facing today. Meet the Money® Online June 2020 - PowerPoint presentation.

State of the Hotel Industry. Video recording of May 20, 2020 webinar on the state of the hospitality industry following the impact of the COVID-19 pandemic. This session is moderated by Jim Butler of JMBM's Global Hospitality Group® with insights from Suzanne R. Mellen (Senior Managing Director, HVS), Jamie Lane (Senior Research Director, CBRE Hotels Research), Vail Ross (Senior Vice President, STR), and Daniel H. Lesser (President and CEO, LW Hospitality Advisors). Meet the Money® Online 2020 series – WebEx video recording.

U.S. Hotel Overview. Slides from the May 20, 2020 webinar "State of the Hotel Industry" presented by Vail Ross, Senior VP, Global Business Development & Marketing, STR. This presentation includes noteworthy statistics on the state of the hotel industry and the impact that Covid-19 has had on construction. Meet the Money® Online May 2020 - PowerPoint presentation.

U.S. Hotel Outlook: Navigating the Storm. Slides from the May 20, 2020 webinar "State of the Hotel Industry" presented by Jamie Lane, Senior Director, Economics & Forecasting, CBRE. This presentation examines the economic outlook for the U.S. and what it means for lodging. His presentation focuses on assumptions, updated CBRE forecasts and difference in recovery timing by chain scale and markets. Meet the Money® Online May 2020 - PowerPoint presentation.

State of the Hospitality Industry Today. Hotel Values and Cap Rates. Slides from the May 20, 2020 webinar "State of the Hotel Industry" presented by Suzanne Mellen, Senior Managing Director, HVS. This presentation reviews how hotels are being valued in this uncertain economic environment and when will hotel values recover to pre-Covid levels. Meet the Money® Online May 2020 - PowerPoint presentation.

U.S. Lodging Industry 2020. COVID -19: Shocking Unprecedented Downturn. Slides from the May 20, 2020 webinar "State of the Hotel Industry" presented by Daniel Lesser, President & CEO, LW Hospitality Advisors. This presentation explores long term sector paradigm shifts and where the lodging industry will go after hitting rock bottom. Meet the Money® Online May 2020 - PowerPoint presentation.

Meet the Equity Investment Bootcamp. Guy Maisnik, Vice Chair of JMBM's Global Hospitality Group® and Jonathan Falik, CEO of JF Capital Advisors, give a comprehensive look into strategies on raising private equity for hospitality projects.

Lodging Industry Overview. Bobby Bowers, Senior Vice President of STR, analyzes the outlook for 2019's RevPAR, occupancy rates, ADR, chain scales, and top 25 markets versus the rest of the U.S.

The Success, Evolution and Future of Boutique, Lifestyle, and Wellness in Hospitality. Loren Balsam, Executive Vice President of hotelAVE, led a panel discussing performances within the independent boutique, lifestyle hotels, and soft brand collections realm with John M. Keeling, Valencia Group, Jason Moskal, Even Hotels, Kim Bardoul, Highland Group, David Kuperberg, Dream Hotel Group, LLC, and Roger Bloss, Cal-Vegas.

The road ahead a dip? Or a blip? Bruce Baltin, Managing Director of CBRE Hotels, takes a look into the current economy, whether there is too much supply, the ADR conundrum, CBRE Hotels’ lodging insights and forecasts, and conference center updates.

Boutique Hotels. Frances Kiradjian, Founder and CEO of Boutique & Lodging Leaders Association, examines the boutique business model and resources to assist in boutique hotelier and entrepreneurs growth.

U.S. Lodging Industry 2019 Navigating at Peak. Daniel Lesser, President & CEO of LW Hospitality Advisors, gives a SWOT analysis and covers strengths, weaknesses, what threats the hotel industry faces, and identifies opportunities ahead for the U.S. hotel industry.

Hotels Values & Cap Rates. Suzanne Mellen, Senior Managing Director, HVS, provides valuable historical data from 2006-2019 including U.S. hotel sales and cap rates.

2019 LIIC Top Ten. Mike Cahill, CEO and Founder of Hospitality Real Estate Advisors (HREC), returns with the annual Lodging Industry Investment Counsel (LIIC) Top Ten, which current issues and trends in the hotel industry.

Legal Hotspots. JMBM attorneys Marta M. Fernandez, Mark S. Adams, Robert E. Braun, Martin H. Orlick and Seena Samimi discuss hotel unions, room rate posting violations, the California Consumer Privacy Act of 2018, the Americans with Disabilities Act, and cannabis and hotels.

2018 Private Equity Strategies Workshop. Guy Maisnik, Vice Chair of JMBM's Global Hospitality Group®, and Jonathan Falik, CEO of JF Capital Advisors, give a glimpse into private equity strategies and the key points every sponsor should watch out for.

U.S. Lodging Industry 2018. Late or New Cycle? Daniel Lesser, President & CEO of LW Hospitality Advisors, gives a SWOT analysis and covers the strengths, weaknesses, and identifies opportunities in the U.S. hotel industry.

U.S. Hotel Industry Performance. Vail Ross, Senior Vice President, STR, examines noteworthy information on RevPAR growth, occupancy, customer mix and construction growth for 2018.

Hotel Values and Cap Rates. Suzanne Mellen, Senior Managing Director, HVS, is back again in 2018 with a look into historical data, hotel sales and even climate change. See why she says there are "sunny, hazy skies ahead."

Economic Outlook and the Impact on Equity Markets in 2018. Keynote speaker Matthew Peron is Senior Managing Director and Chief Investment Officer of City National Rochdale (CNR). He gives an overview of CNR's outlook for the economy, what they are focusing on and how the market is changing.

2018 LIIC Top Ten. Mike Cahill, CEO and Founder of Hospitality Real Estate Advisors (HREC), compiles the annual Lodging Industry Investment Counsel (LIIC) Top Ten, which reveals the challenges and investment trends identified through an annual survey of LIIC members.

2018 Hotels Trends: Public Market Perspectives. Michael J. Bellisario is a Senior Research Analyst at Baird. His presentation includes a hotel stock performance overview, Baird's view of fundamentals and hotel stocks, hotel REITs capital allocation and M&A, and technology changes.

U.S. Lodging Industry Update. First Watch on a Long Voyage. R. Mark Woodworth, Senior Managing Director of CBRE Hotels, talks everything you need to know about cap rates in 2018-from drivers that could change cap rates to forecasts and outlook

NYU International Hospitality Industry Investment Conference. Statistically Speaking. Stephen Rushmore, HVS.

2017 LIIC Top Ten. Mike Cahill, CEO and Founder of Hospitality Real Estate Counselors (HREC) rounds up LIIC's annual member survey results. What markets should you avoid? Where are we in the hotel real estate cycle? Challenges and trends are identified in the LIIC Top Ten for the current year.

Hotels Values & Cap Rates. Suzanne Mellen, Senior Managing Director of HVS, provides valuable data on historical hotel sales from 2006-2017 (total dollar volume and price per key), hotel transaction volume (year-over-year and by quarter), most active markets for the past 3 years, hottest urban markets, most notable sales, and what is happening to hotel cap rates.

Hotels Trends: Public Market Perspective. Michael J. Bellisario is a Senior Research Analyst at Baird. His presentation includes an overview of the US hotel capital markets including stock performance, industry fundamentals, valuations, capital allocation strategies, and insights on current transactions, trends and forecasts.

California Hotel Market Overview. Alan X. Reay, President of Atlas Hospitality provides an overview of the California hotel markets -- current and historic analysis of sales volume, median price and performance by local market. There is data for every year from 2001 through the present. Alan also sees some interesting similarities and differences between the 2016 California hotel market with that of 2007. Could history be repeating itself?

The Boutique Hotel Report 2017. Kim Bardoul, Consultant at Highland Group provides The Highland Group's 2017 data-filled report on the boutique hotel industry, including lifestyle hotels, soft brand collections and independent boutique.

U.S. Lodging Industry 2017 – Good For Some; Cautious Optimism For Others. In this presentation, Daniel Lesser, President & CEO of LW Hospitality Advisors®, points out the strengths, weaknesses, opportunities and threats in his U.S. Hotel Industry SWOT Analysis.

Bright Horizons… Dusty Dawns. Mark Woodworth, Senior Managing Director of CBRE Hotels, discusses the state of the economy, the impact new supply has, buyer and seller markets, and forecasts for the rest of this year and 2018.

Three Issues for Real Estate. Keynote speaker, Dr. Richard K. Green, Chair, Lusk Center for Real Estate, University of Southern California, looks in detail at 3 key issues affecting real estate and the economy: tax reform, the Fed and mortgages, and trade. But there is a bigger issue. Dr. Green goes in depth to answer these questions and discuss the principal source of U.S. manufacturing job loss (hint: it's not trade).

Fine Tuning Management and Operations for Greater Profit and Value. Michelle Russo, CEO & Founder of HotelAVE, and her panel present a very timely issue. As the hotel industry enters its 7th year of recovery, we may have gotten sloppy or lazy in driving revenues and controlling costs. What tools and components are necessary or unnecessary?

U.S. Lodging Industry – 2016 SWOT Analysis. Daniel Lesser, President and CEO of LW Hospitality Advisors, presented his view of the US hotel industry's strengths, weaknesses, opportunities and threats at the Meet the Money® 2017 planning meeting. September 2016.

Hotel Capital Markets Update. David Loeb, Sr. Research Analyst at RW Baird, presented his research during the Meet the Money® 2017 planning meeting, hosted during The Lodging Conference. His presentation covered factors currently impacting the hospitality industry, including the stock market, cap rate changes, hotel REITs, and new technologies. September 2016.

Innovation in finance, ownership, and operation: Enhancing the bottom line. Bill Linehan, VP & Chief Marketing Officer, RLHC, guides his panel at Meet the Money® 2016 through discussion about the Fed and interest rates, the Marriott and Starwood deal, soft brands, serviced apartments & mixed use, and loyalty programs. May 2016.

Some thoughts on profits and cap rates. R. Mark Woodworth, Senior Managing Director, CBRE Hotels, asks participants at Meet the Money®: Why be happy? Why be concerned? He gives all plenty to think about. May 2016.

California Hotel Overview 2016. Alan Reay, President, Atlas Hospital compares 2006 with 2014 and asks, California déjà vu? See his presentation…May 2016.

U.S. Lodging Industry - 2016 Offensive or Defensive Game Plan? Daniel Lesser, President & CEO, LW Hospitality Advisors, does a SWOT analysis of the U.S. hotel industry and tells Meet the Money® participants to make hay while the sun shines. May 2016.

2016 LIIC Top Ten. Mike Cahill, CEO and Founder of Hospitality Real Estate Advisors (HREC), compiles the annual Lodging Industry Investment Counsel (LIIC) Top Ten, which reveals the challenges and investment trends identified through an annual survey of LIIC members. May 2016.

Hotel Values and Cap Rates. Suzanne Mellen, Senior Managing Director, HVS. In this presentation made at Meet the Money®, Mellen gives statistics that show why 2015 will be remembered as the peak year of the post Great Recession cycle, and explains what is happening with cap rates. May 2016.

Hotel industry, what lies ahead. Vail Brown, Senior VP, Global Business Development & Marketing, STR, gives a statistical review of the US hotel market, as well as a forecast for 2016/2017. May 2016.

Hotel Sector Update and Forecast. Mark Woodworth, President, PKF Hospitality Research. At Meet the Money® - JMBM's national hotel finance and investment conference – Mark says that (1) there are no threats from the factors that historically have brought an end to the good times, (2) the fundamentals are solid across the vast majority of markets, (3) elevated industry growth will persist comfortably through 2016 and likely beyond, and more . . . . May 2015.

Hotel Industry Trends and Predictions. Stephen Rushmore, Jr., CEO and President, HVS. Stephen Rushmore uses industry numbers to predict that (1) supply and demand will be in equilibrium towards the latter part of 2016 or early 2017 for the USA, (2) hotel values are beginning to taper, (3) west coast markets to show the greatest value increase through 2019, (4) 40% of markets won’t appreciate above anticipated inflation over next four years, and more . . . May 2015.

US Hotel Industry Performance – What Lies Ahead… Vail Brown, Vice President, Global Business Development & Marketing, STR. Vail begins her presentation at Meet the Money® with some eye-popping industry records, then covers supply progress, occupancy acceleration, customer mix and revenue growth. She says we are now "walking on sunshine" . . . See why. May 2015.

California Hotel Perspective. Alan Reay, President, Atlas Hospitality Group presented an overview of California Hotel transactions and makes some fascinating comparisons -- and distinctions -- between 2006 and 2014 hotel transactions. He provides information on specific transactions and gives us his 2015 forecasts for sales, median price per room and hotel development. Look at the sales at prices per room over $1 million! May 2015.

Hotel values and cap rates. Suzanne Mellen, Senior Managing Director, HVS. In this presentation made at Meet the Money®, Suzanne explains the current ideal conditions for a strong year of hotel transactions, and why the market is on track for transaction activity that will be stronger than 2014 and higher than the peak of 2006. See why she expects values to peak within the next two to three years, and see what role cap rates and values play in hotel transactions. May 2015.

Economic Outlook -- Europe, China, the Dollar, Marriage, Inequality and Rent (and what they might mean for real estate). Richard Green, Chair, Lusk Center for Real Estate, University of Southern California. Economist Richard Green explains the miracle of the Euro, why we should be bullish on China and worried about the dollar's effect on the US economy, and how education and marriage affect the future of housing and retail. He wonders what all of this and income inequality means for the hotel industry – more travel or less? More luxury or economy hotels and fewer in between? Interesting as always! May 2015.

2015 LIIC Top Ten Mike Cahill, CEO and Founder of Hospitality Real Estate Advisors (HREC), compiles the annual Lodging Industry Investment Counsel (LIIC) Top Ten, which reveals the challenges and investment trends identified through an annual survey of LIIC members. May 2015

Why the ADA matters to you. Comply now or pay later. More than 16,000 ADA lawsuits have been filed in the US, and pace is increasing. ADA compliance is the law, and it’s good business. Here are the combined presentations from a panel of experts: Martin H. Orlick, Partner and Chair of JMBM's ADA Compliance & Defense group; Mark Burden, CEO, Rim Hospitality, M. Bradley Gaskins, Principal, The McIntosh Group; and Bonnie Lewkowicz, Access Northern California. The Panel was moderated by David Sudeck, a senior member of JMBM's Global Hospitality Group®. May 2013.

Is the Recovery in US Housing Sustainable? A leading economist's views on the US economy's prospects, with emphasis on the critical role of new housing construction on the sustainability of the recovery. What are the factors driving construction and where do they point? Richard K. Green, Lusk Chair & Professor, University of Southern California, Lusk Center for Real Estate. May 2013.

Why does it seem like everyone is adding a hotel to their shopping center? JMBM's Global Hospitality Group® is predicting that a major trend for the next few years will be "hotel-retail mixed-use" -- adding a hotel to retail shopping malls. This presentation from JMBM's 2007 Hotel Developers Conference is the only quantitative study we have seen on how hotel-retail synergies can increase RevPAR 20-40% over competitive sets. The information is from GGP's analysis of more than 200 shopping malls and retail mixed-use projects, many of which had significant hotel components. Jim Butler, Partner and Chairman, JMBM's Global Hospitality Group®. May 2013.

Hotel-Retail Mixed-Use -- What Woodbine Development is doing with hotel-retail today.  Dupree Scovell, Managing Director, Woodbine Development Corporation. May 2013.

California Hotel Transaction and Market Overview In this presentation, Alan Reay of Atlas Hospitality provides a comprehensive overview of California hotel transactions: sales volume in dollars and transactions, hotel performance in select markets, historic price per room, forecasts. . . and much more. Alan X. Reay, President, Atlas Hospitality Group. May 2013.

Hotel Values & CAP Rates Suzanne Mellen of HVS gives one of the most anticipated and popular presentations in the industry on hotel values and cap rates. Included: major hotel sales transactions from many perspectives (year, dollar value, price per room, etc.) and a great series on cap and discount rates. Suzanne Mellen, MAI, CRE, FRICS, ISHC, Senior Managing Director Hotel and Casino Consulting and Valuation, HVS. May 2013.

The LIIC Top Ten . The 2013 LIIC Survey was compiled by Mike Cahill, a co-chairman of LIIC. What do LIIC members think about hotel property values, transaction volume, access to capital, and hotel development? This presentation is LIIC's annual survey of lodging investment trends and challenges. Michael Cahill, CEO & Founder, Hospitality Real Estate Counselors (HREC). May 2013.

Hotel InduSTRy Overview, What Lies Ahead... The latest state of the industry from Vail Brown of STR. Vail R. Brown, Vice President, Global Business Development & Marketing, STR. May 2013.

Capital Markets Update: Transactions, Financing and Market Value This presentation by Greg Hartmann of Jones Lang LaSalle Hotels includes: hotel transaction volume, major single-asset deals YTD 2013, where is the capital coming from, hotel ownership, investment yields, new supply, and a closer look at who's buying over the next 5 years. Greg Hartmann, MAI, MRICS, CHA, Executive Vice President, Jones Lang LaSalle Hotels. May 2013.

Fundamental Certainty... ....or No? ? Using its proprietary Hotel Horizons® forecasting model, along with data from STR and economic forecasts from Moody's Analytics, this presentation provides a lot of "Happy Thoughts" for the hotel industry. See why Mark Woodworth of PKF concludes "It is a great time to be in the hotel business!" And look at why they think we may not peak until 2017 . . . R. Mark Woodworth, President, PKF Hospitality Research, LLC. May 2013.

Deloitte study: "A Restoration in Hotel Loyalty." This study reports on the results of research conducted in October 2012 on the costs and effectiveness of hotel loyal programs. It concludes that these programs are not very effective in securing traveler loyalty. Given the high cost of these loyalty programs the study conclusions are shocking. For example, Only one out of four hotel travelers allocate more than 75 percent of their share of wallet to their “preferred” brand. Even high frequency travelers only spend 58 percent of their spend with their preferred brand and 65 percent report having stayed with two or more brands in the past six months.

Marriott International v Eden Roc. This is the full text of the New York Appellate Division issued March 26, 2013. Under this decision, virtually all hotel management agreements are now terminable at will by owners. And this result will prevail even against the Marriott-style management agreements that seek to avoid an "agency" characterization of the owner-operator relationship. See Why all long-term hotel management agreements are now terminable.

ULI presentations from 2-28-13 session on adding a hotel to retail shopping centers and malls. Hotels were about to be added to many retail malls until the economy crashed in 2008. Now, major players are adding substantial hotel elements to shopping malls. There is a substantial increase in retail sales when the right hotel is added to a retail center--between 20% and 40%. Additionally, retail increases boosts the revenue per available room for the hotel (over other hotels in the same market). These are the slides presented at the February 20, 2013 stimULI breakfast held in the offices of JMBM in Los Angeles, California.

A Resource Guide to the U.S. Foreign Corrupt Practices Act, a 130-page document is the most comprehensive effort by the Justice Department and the Securities and Exchange Commission to respond to complaints from companies that ambiguity in the Foreign Corrupt Practices Act has forced them to abandon business in high-risk countries and spend millions of dollars investigating themselves.

U.S. hotel owners could lose $2.1 billion in hotel value with new Expedia Traveler Preference Program, by Michelle Russo and Ryan McCarthy, HotelAVE, October 23, 2012

Robert W. Baird Equity Research's Highlights from The Lodging Conference, Select-Service Bullishness, Open Debt Markets, David Loeb, Senior Research Analyst and Managing Director, October 8, 2012

Robert W. Baird Equity Research: Hotel Update: C-Corps and REITs, David Loeb, Senior Research Analyst and Managing Director, October 3, 2012 as presented to the Lodging Industry Investment Council (LIIC)

Phoenix Lodging Conference, "US Lodging Market Outlook: Recovery is near . . . or is that a Cliff ahead?" by R. Mark Woodworth, President, PKF Hospitality Research, October 2012.

Phoenix Lodging Conference, "Hotel Industry Overview, Statistics, Trends and Projections for 2013 & Beyond" by Vail R. Brown, Vice President, Global Business Development & Marketing, Smith Travel Research. October 2012.

Meet the Money® 2012. "U.S. Lodging Market Outlook" by Bruce Baltin. May 2012.

Meet the Money® 2012. "ADA Compliance & Claims Prevention: The New Rules" by David Sudek, Kimberly Carter, Martin H. Orlick, Kim Blackseth, John Farrow. May 2012.

Meet the Money® 2012. "Are The Nightmares Behind Us? Economic and Capital Market Outlook" by David J. Goerz. May 2012.

Meet the Money® 2012. "Capital Markets Update: Transactions Financing and Market Value" by Greg Hartmann. May 2012.

Meet the Money® 2012. "The 2012 LIIC Top Ten" by Michael Cahill. May 2012.

Meet the Money® 2012. "California Hotel Values: Where Is the Market Heading in 2012?" by Alan X. Reay. May 2012.

Meet the Money® 2012. "U.S. Lodging Industry – What lies ahead?" by Vail R Brown, Smith Travel Research. May 2012.

Meet the Money® 2012. "Hotel Values & CAP Rates" by Suzanne Mellen, MAI, CRE, FRICS, ISHC. May 2012.