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News for the Hospitality Executive |
Lodging Capital Partners Launches Financing Platform\
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Industry Veteran Ian Davis Tapped
to Lead Effort
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| Chicago � October 1, 2008 � Lodging Capital Partners, LLC
(�LCP�) announces the formation of a platform which will provide debt,
mezzanine and preferred equity financing for upper-upscale and luxury hotels.
Initially, LCP plans to invest $250 million in this effort, and has recently
closed their first purchase of an existing mezzanine loan in Hawaii.
�Given the current capital and economic conditions in the industry, we believe investing in this part of the capital stack provides our investors with the best risk adjusted returns,� said Steve Kisielica, Principal, Lodging Capital Partners. Ian Davis joins LCP as a Principal in the new platform. Prior to joining LCP, Ian has had extensive experience in the hospitality banking industry, most recently as a senior member of Credit Suisse where he originated over $1.5 billion of financing in the sector. According to David Sims, Principal of LCP, �Ian has the unique experience of understanding hotel asset valuation combined with an intimate knowledge of structured finance.� LCP will focus it�s investment in the upper-upscale and luxury sector of the industry, ideally in major U.S. business markets and established resort locations. Investments will consist of a combination of the purchase of existing positions as well as the origination of new subordinated debt, mezzanine and preferred equity. About Lodging Capital Partners, LLC: LCP was formed by David Sims, Bradley Falk, Steve Kisielica and John Merrill in 2005 and has become a premier owner of upper-upscale and luxury hotels. Since formation, LCP has invested in a portfolio with a valuation of over $1.3 billion. Asset purchases include: the Fairmont Orchid in Mauna Lani, the Drake Hotel Chicago, the Four Seasons Austin, the Hotel Jerome Aspen, the Le Meridien Chicago and the Snake River Lodge & Spa in Jackson Hole, among others. Members of LCP have combined 60 years of experience in hotel valuation, acquisitions, financing, asset management and dispositions. The team has purchased over $4.0 billion of properties, implemented over $5 billion of financings, raised over $1.5 billion of public and private equity and sold $1 billion worth of asset, all of which related to full-service hotels and resorts. |
| Contact:
Lodging Capital Partners, LLC
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