Meet the Money® conference talks about Hotel loans and equity investment, creating value with hotel value-add and repositioning, hotel opportunistic investment, deal making and much more
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By Jim Butler and the Global Hospitality Group®
Hotel Lawyers | Authors of www.HotelLawBlog.com
9 May 2012
Hotel Lawyers in Los Angeles at JMBM's Meet the Money® 2012
The hotel lawyers at JMBM'S Global Hospitality Group® were out in force and mingling with about 350 hotel industry leaders that joined us in Los Angeles this week for the 22nd annual Meet the Money® 2012 conference.
What is different about Meet the Money®?
There is a lot to like about this conference. We are not in the conference business, and we don't make a profit on this event, so we run the conference at the highest level of excellence and the way we think best suits business-oriented deal makers. For instance:
- Substantively, everything has a strong focus on financing, value, and liquidity.
- It is an efficient (one level) venue where you can see everybody and is not too crowded.
- You see deal makers, not product electronic key or astro turf vendors.
- It is a comfortable venue with great food (breakfast, lunch and receptions) and constant snacks (fruit, yogurt, juice, soft drinks, energy bars, and the like).
- The program starts and ends on time.
What's different this year from last year?
Well, last year, hotel transactions were coming back online and there was plenty of excitement.
This year, although it seems like just about everyone has a recent deal to discuss and more in the pipeline, things are more sluggish. The experts look for the second half of the year to be much stronger, making a mirror image of 2011.
As usual, there was lots of conversation and plenty of business cards being exchanged in the hallways, and there was a large crowd at the Grand Welcome Reception that talked for hours into the evening (the great food and the poolside venue may have been a factor!).
Quick take aways
If our participants are any indicator of what's going on in the hotel marketplace, there is a reason for optimism. Here are some of the common conversational and conference themes:
- Plenty of capital is available, but there may be a "gap".
- It's a good time to be lender.
- It's a good time to be buyer.
- Development and new construction is back, in select markets, for experienced developers with great projects that make sense.
- PIP requirements are killing deals. They are also forcing dispositions of notes and properties.
- PIPs are more important than ever and can't be overlooked in due diligence or underwriting.
- Troubled assets are being dealt with.
And of course, looming over the optimism is the ever-present specter of "the economy", causing even the most optimistic to curb their comments with qualifiers. France? Greece? Iran and Israel? The presidential election?
These issues, and more, were discussed by panelists representing some of the top players and best minds in the industry.
For all our industry friends that were unable to join us, we will be posting on the Hotel Law Blog information and insight shared by these industry leaders at the conference. Check back over the next week or so for presentations, analysis and summaries!
We appreciate all our speakers who generously shared their knowledge and experience, as well as all of our sponsors, without which we would be unable to bring the top-tier programming that Meet the Money® provides.
Meet the Money® 2012 presentations are available now
I expect that we will post a number of blogs and comments about the substantive content of the program at Meet the Money® 2012, but some of the best PowerPoint presentations are already published at our expanded website. Hotel Law Blog is now just one section of HotelLawyer.com.
Please go to www.HotelLawyer.com and check out the new site. It is a work in progress and not fully functional yet, but all the PowerPoint presentation are there. From the HOME page, click on RESOURCE CENTER, and then select the last entry (Hotel Industry Presentations), or click here.
This is what you will see:
Meet the Money® 2012. "U.S. Lodging Market Outlook" by Bruce Baltin. May 2012 ( PDF )
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. ( PDF )
Meet the Money® 2012, "Are The Nightmares Behind Us? Economic and Capital Market Outlook" by David J. Goerz. May 2012. ( PDF )
Meet the Money® 2012. "Capital Markets Update: Transactions Financing and Market Value" by Greg Hartmann. May 2012. ( PDF )
Meet the Money® 2012. "The 2012 LIIC Top Ten" by Michael Cahill. May 2012. ( PDF )
Meet the Money® 2012. "California Hotel Values: Where Is the Market Heading in 2012?" by Alan X. Reay. May 2012.( PDF )
Meet the Money® 2012. "U.S. Lodging Industry - What lies ahead?" by Vail R Brown, Smith Travel Research. May 2012. ( PDF )
Meet the Money® 2012. "Hotel Values & CAP Rates" by Suzanne Mellen, MAI, CRE, FRICS, ISHC. May 2012 ( PDF )
This is Jim Butler, author of www.HotelLawBlog.com and hotel lawyer, signing off. We've done more than $60 billion of hotel transactions and have developed innovative solutions to unlock value from hotels. Who's your hotel lawyer?
Our Perspective. We represent hotel lenders, owners and investors. We have helped our clients find business and legal solutions for more than $60 billion of hotel transactions, involving more than 1,300 properties all over the world. For more information, please contact Jim Butler at email@example.com or +1 (310) 201-3526.
Jim Butler is a founding partner of JMBM, and Chairman of its Global Hospitality Group® and Chinese Investment Group™. Jim is one of the top hospitality attorneys in the world. GOOGLE "hotel lawyer" and you will see why.