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to Acquire, Preserve Luxury Hotels |
August 6, 2003 - The Leading Hotels of the World,
Ltd. today announced the formation of The Leading Trust, a real estate
investment vehicle to be managed by Leading Hotel Fund Advisors, a partnership
between affiliates of The Leading Hotels of the World, Ltd. and New York-based
Trinity Hotel Investors L.L.C.
The Leading Trust is designed to invest in luxury hotels in order to preserve their distinct cachet, history and charm. The acquisition of hotels by The Leading Trust is the culmination of a five-year business plan for The Leading Hotels of the World, Ltd. to evolve from a hotel representation organization to a full service provider of products and services to the luxury hotel market sector. With the formation of The Leading Trust, the company signals that it will take a proactive role in protecting its member hotels by providing them access to capital for improvements or major renovations. The Leading Trust provides member and non-member hotels worldwide an opportunity to preserve their character and protect them from forced sales to multi-national chains. Operational management for the Leading Trust's owned hotels will be awarded through an RFP process led by Leading Hotel Fund Advisors. The Leading Trust will initially focus on acquiring hotels in Europe. "The Leading Trust provides a solution for hotel owners to sell or upgrade their properties, while preserving the market position of their hotels," said Paul McManus, President and CEO of The Leading Hotels of the World, Ltd. "Owners may not be amenable to bringing on an unknown equity partner or selling to a faceless brand. We provide the optimal solution for the luxury hospitality sector." "The Leading Trust fills a gap in the hotel investment niche. In the past, privately owned luxury properties faced hurdles raising funds in the capital markets," said George Ruff, Senior Principal of Trinity Hotel Investors L.L.C. "Because of Leading's prestigious and close-knit membership network, the concept of The Leading Trust has been embraced by the investment community," stated Mr. Ruff. The Leading Trust offers services for luxury hotels including sliver equity, outright purchase, partnership options, share swaps, asset management and capital advisory services. The Leading Hotels of the World, Ltd., founded 75 years ago, is the prestigious luxury hospitality organization representing more than 400 of the world's finest hotels and resorts. Trinity Hotel Investors L.L.C. is a New York-based real estate investment company focusing on global hotel and resort investments. The principals of Trinity have consummated over USD 8.5 billion in global real estate investments. Past and present investments include the Boca Raton Resort & Club, Boca Raton, Fla.; the Four Seasons Resort Santa Barbara, Santa Barbara, Calif.; the Kea Lani Resort and Villas, Maui, Hawaii; Miraval Resort & Spa, Tucson, Ariz.; L'Auberge de Sedona, Sedona, Ariz. and properties in the former Rafael Hotel Group, including the Mark Hotel, New York; the Hotel du Rhone, Geneva; the Hotel Rafael, Munich and the Turnberry Isle Resort, Aventura, Fla. |
Contact:
The Leading Trust The Leading Hotels of the World Kim Hehir 212 515-5600 http://www.lhw.com/ |