Hospitality Lawyer on innovations in the conceptualization and design of hotels. Meet the Money® -- the annual hotel conference presented by JMBM's hospitality attorneys and their Global Hospitality Group -- recently concluded its 18th annual hotel finance convocation. About 400 industry leaders gathered in Las Vegas to hear from hotel industry experts what is happening in our industry, and what is going to happen.

There were great presentations on recent industry data (Smith Travel Research and PKF Consulting), likely scenarios and sentiment for our near future (CBRE and LIIC), an analysis of major hotel transactions (HVS) and trends in hotel cap rates and values (Mellen), and much more as reported earlier here on www.HotelLawBlog.com). But in terms of the future, one of the most interesting presentations was the Hotel of Tomorrow or H.O.T. presented by Ron Swidler, President of Bon Aller, LLC (rswidler@bonaller.com or (612) 284-4747).

Hospitality Lawyer from Meet the Money®. For the past 5 years, JMBM's annual hotel conference has been privileged to premier the annual survey of the hotel industry's preeminent thinkers on major issues affecting hotel investment opportunities and challenges for the coming year. Here it is again, providing valuable insight on what industry leaders think. And like consumer confidence surveys, or other measures of sentiment within an industry, these gems are more important as indications of what may drive decisions in the coming months than as actual predictions of future outcomes . . . although we often become what we think.

Here is another one of the great industry leader presentations from our recent Meet the Money® program, giving us perspectives on where we've been and where we're going.

It is one of the most popular presentations here on www.HotelLawBlog.com. It is by Suzanne R. Mellen CRE MAI, Managing Director, HVS. (smellen@hvs.com or (415) 268-0351). You may also want to view earlier commentary on parts of this presentation provided by me or Suzanne. Click here to see the first article on Major Hotel Transactions, and here to see the second article on Hotel Cap Rates.)

Here is the presentation from Daniel H. Lesser, MAI, CRE, CHA, Senior Managing Director-Industry Leader of CB Richard Ellis, Inc. (daniel.lesser@cbre.com or (212) 207-6064) at JMBM's recent Meet the Money® conference. This was JMBM's 18th annual hotel conference. Dan insists that "the glass is half full."

Here is the presentation from Mark Woodworth, President, PKF Hospitality Research (mark.woodworth@pkfc.com or (404) 842-1150 x222) at JMBM's recent Meet the Money® conference. This was JMBM's 18th annual hotel conference. I always look forward to the research and insights that Mark brings with his presenations.

Here is the presentation from Bobby Bowers of Smith Travel Research. (bobby@smithtravelresearch.com or (615) 824-8664) at JMBM's recent Meet the Money® conference. This is an excellent overview of where the hospitality industry has been and where we are going.

Hotel Cap Rates are changing. What are hotel cap rates? What do the changes mean for your hotel buy or sell, hotel financing or refinancing, or next visit from the FDIC? What is the relationship between cap rates and equity return expectations?

What is happening to hotel cap rates? How does that affect every hotel buyer or seller, hotel investor or lender and analyst?

Meet the Money® -- the annual hotel conference presented by JMBM's hotel attorneys and their Global Hospitality Group -- has just concluded another successful hotel finance conference with about 400 industry leaders gathered in Las Vegas to hear from hotel industry experts what is happening in our industry, and what is going to happen. Suzanne Mellen, Managing Director of HVS' San Francisco office is one of the experts I look to in this area (smellen@hvs.com), and she gave us some great information that I want to share with you today.

Hotel Attorney at Meet the Money® -- Report on Major Hotel Transactions by Suzanne R. Mellen, MAI, CRE, Managing Director of HVS, San Franciso. We always get the latest updates on the State of the Hotel Industry at Meet the Money® -- JMBM's annual hotel conference which just concluded its 18th annual edition. And one of my favorite updates is the one that Suzanne Mellen of HVS gives us on major hotel transactions.

Here is the very latest . . .

By Jim Butler, Hotel Lawyer | Author of www.HotelLawBlog.com
8 May 2008

Hotel Attorney at JMBM's Hotel Finance Conference: mood of the industry and where we go from here. It is May 8, 2008. JMBM's 18th annual hotel conference, Meet the Money® 2008 wrapped up this afternoon, and more than 100 of the industry leaders have just shared their latest experiences and outlooks for the remainder of 2008 and beyond.

There is a consensus to the mood of these hotel financing sources and industry leaders. While we have spent two information-packed days getting the details, and nuances of this, here is the overview.

Hotel Attorney at JMBM's 18th Annual Hotel Finance Conference: Hotel Industry's "Think Tank" gives views on "Top 10 Issues". Continuing a tradition of many years, the hotel industry's "Think Tank" released its view on the LIIC Top 10 Issues for the industry.

Here's what it said . . .

Hotel Attorney in Las Vegas, Nevada. Financing a new hotel transaction? Refinancing a hotel mortgage? Looking for hotel debt or equity to buy or develop a hotel or resort? If you are serious about any of these, then you are probably going to be at the Opening Reception tonight for the eighteenth annual Meet the Money® Conference -- the gateway of hotel finance.

As JMBM's hotel attorneys gather with about 400 hotel industry leaders to kick off one of the biggest hotel financing events of the year, excitement is in the air. Starting with a not-to-be-missed networking reception tonight at The Green Valley Ranch in Las Vegas, for the next two days, hotel finance will take center stage.

Stay tuned for updates from Meet the Money® 2008 as we start with our first full day tomorrow morning, May 7. (or check out the Conference web site at www.MeetTheMoney.com).

Hotel Attorney on Hotel Management Agreements. How to get the right brand and operator for your hotel project . . . and a deal you can live with -- The Hotel RFP Process.

In the last few articles here at www.HotelLawBlog.com, I have been sharing some of the important lessons our hotel attorneys in the JMBM Global Hospitality Group® have learned about hotel management agreements over more than $50 billion of hotel transactions, involving more than 1,000 properties. While it may be an exaggeration to say that "JMBM wrote the book on hotel management agreements," we certainly know the area and have at least written a few chapters in that book.

In parts 1 and 2 of this series, we covered:

* How the terms of your hotel management agreement can easily raise or lower the nominal value of your hotel by 25% or more

* The 5 biggest mistakes owners make in pursuing hotel management agreements (and how to avoid them)

* What's a Hotel RFP and what shapes it.

In case you missed our earlier discussion, please see "How to get the right hotel operator - part 1" and "How to get the right hotel operator - part 2." You will find it with some other great Hotel Management Agreement resources under the topic by that name here at www.HotelLawBlog.com.

Let's return now to the Hotel RFP process ...