Dallas, TX, November 4, 1998 -- Bill Gudenau, Executive Director, is pleased to announce the addition of Ted Murphy, Managing Director, to Insignia/ESG Hotel Partners's transactions team.  Murphy is based in the firm's Dallas office.

Ted Murphy has nearly 20 years of experience in the commercial real estate investment and finance business.  He has conducted transactions in all property types, with a career-long focus on hotel-related transactions.

Much of Murphy's career has been spent in the areas of lending, investment, asset recovery and sale transactions while on the institutional side of the business.  He has worked at Travelers Realty Investment Co., Manufacturers Hanover Trust Co., Columbia University's Real Estate Endowment and Metropolitan Life.  While at Manufacturers Hanover, he was responsible for the origination and management of a portfolio of hotel and office construction loans totaling over $1 billion.

"Ted's diverse and dynamic career merges perfectly into our investment sales team," says Gudenau.  "His extensive contacts in the investment and finance community, combined with his focus on the sale and financing of hotels, has led to Ted's national exposure, reputation and significant sales activity.  His experience is an asset to our clients."  Murphy has completed over $300 million in hotel-related transactions.
 

Chicago, IL, November 3, 1998 -- Bill Gudenau, Executive Director, is pleased to announce the enhancement of development services at Insignia/ESG Hotel Partners with the addition of Peter S. Greene, Managing Director. Greene is based in the firm's Chicago headquarters.

Peter Greene is a veteran of the hospitality industry, with 30 years of experience as owner, financier, developer and operator of hotels.  Greene has participated in over $500 million of development activity in his career including acquisition work, financing, management and renovations consulting.

Prior to joining Insignia/ESG Hotel Partners, Greene headed up his own consulting practice, a leading advisory firm to the hospitality industry. Recent projects have included the planning, designing and budgeting of a $159 million conversion of four office buildings to hotels in Chicago, a $36 million conversion of two office buildings to hotels in Philadelphia, and supervising $21 million in additions and renovations to hotels in Boston, Chicago and Los Angeles.  Greene is a graduate of Cornell University's School of Hotel Administration.

"We are very pleased to have Peter on board," states Gudenau.  "His specialization in the development side of our business adds real benefit to our clients.  Offering development services in the ever-changing hotel real estate arena is an important component to a full service practice."
 

New York, NY, November 3, 1998 -- Russell D. Urban, Executive Director, Capital Markets, is pleased to announce the recent addition of Peter Chang, Associate Managing Director, and Nolan Hecht, Associate, to Insignia/ESG Hotel Partners's Capital Markets group.  Chang and Hecht are based in the New York office.

With his extensive experience with North American and Asian markets and clients, Peter Chang offers various services to the group's US and Asian clientele.  Before joining Insignia/ESG Hotel Partners, Chang worked as an investment banker in Merrill Lynch's Hospitality and Leisure Group. Previously, he was a consultant in the hospitality practice at Arthur Andersen in New York.

Nolan Hecht provides key analytical and capital advisory support to the firm's clients.  He brings in-depth experience in the New York City market and with luxury single-assets, resort properties and hotel portfolios. Previously, Hecht was a senior consultant in the Real Estate Services Group at Arthur Andersen LLP.  Prior to his affiliation with Arthur Andersen, Hecht worked at Colliers Ostendorf Morris in the Commercial & Industrial Brokerage Division.

"The addition of Peter and Nolan provides the hotel capital markets team with a solid base of analytical expertise and further support for client services and creative solutions," according to Urban.  In addition to Chang and Hecht, the Capital Markets group in New York includes senior managing directors Allen Toman, Tom McConnell, Bill Waldron and Hartmut Stauss; and managing director Cheryl Boyer.  Insignia/ESG Hotel Partners's Capital Markets group offers clients an array of strategic capital and asset advisory services, including financing and asset management.