As you can imagine, not every transaction is straightforward and not every situation can be resolved through a simple transaction or traditional loan. Over the years we have prided ourselves on developing creative solutions to our clients' individual situations.

Joint Ventures: In 2002 alone, our firm facilitated joint ventures totaling $55 million in value. Often, by marrying the skill sets and backgrounds of different clients, we can create significant value. For example, we can bring experienced developers or operators to a team, enabling the completion of a more complicated transaction for a less experienced owner. Likewise, there is significant value created by bringing a local player to a team. Although, sometimes the Joint Venture is simply looking for an equity investor, we can assist here too.

Creative Deal Structures: Our most important responsibility is to help an owner achieve their goals. Often, we can suggest creative deal structures enabling a win/win for all parties involved. For example, a net lease may be beneficial to an owner looking to give up operational responsibilities; this solution also avoids the capital gains tax that would be associated with an outright sale of the property.

Partnering with Resources: We can often add value to a transaction by utilizing outside resources that bring significant value. For example, in the case of a hotel sale with significant capital gains liability, we partner with a corporate recovery group that will actually buy the tax liabilities and bring cash to your deal.

Buyers Broker: We serve as a buyer's broker, representing funds and larger investor pools to identify potential transactions that may not be readily available. Our proprietary Hotel Database tracks individual assets and provides us with the ability to contact owners that may not be actively marketing properties for sale. This works best for funds with specific acquisition goals looking to identify the available product to meet its criteria.

Due Diligence and Consulting Services: Often utilized by clients without the resources to manage their own transaction and by less experienced buyers and sellers, we can assist by managing the due diligence process, serve as a clearinghouse for all flow of paper and by helping to evaluate potential transactions. Of course, the client is responsible for making all decisions, but we can help them understand the implications of what they are evaluating. As part of this service, we can assist in the selection of franchise and management companies as well as the negotiation of their respective contracts as well as any PIPs.

Development: In 2002 alone, we were involved in $50M in new construction transactions. We have helped landowners and builders plan new hotel developments and identify the "right" product for their site. By conducting market research and feasibility work, we have been successful in helping builders plan their project based on market supply and demand characteristics and assist them in selecting a franchise and room count that is most appropriate for their project. With numerous builders as clients, we often plan and market projects from pre-construction to sell the hotel upon completion. In this case, we will prepare a pre-development marketing package and position buyers to acquire the asset prior to the hotel opening.

Analytic Support: Our analytics team has helped buyers, sellers, and builder understand the true value of investment opportunities. By utilizing our proprietary financial models, we can assist owners in creating proformas, calculating return on investment, and running investment scenarios based on various deal structures.

Contract Negotiations: Through our vast experience with owners, management companies, and franchise companies, we assist owners in identifying alternatives for brand and management, interview prospects, and assist in the selection process. As part of this service, we can help owners negotiate the agreement.

Managing the Appraisal Process: Although we are not appraisers, owners often find it useful for us to manage the appraisal process on behalf of our clients. Services include obtaining competitive proposals, collecting and managing document flow, scheduling and being present for relevant meetings with key employees, and reviewing the draft report before it becomes finalized.