the Complexities of Hotel Ownership
|CHICAGO — May 7, 2004 — A new conference held last month that recognized
the complexities of hotel ownership is receiving rave reviews from attendees.
According to Morris Lasky, president of Lodging Unlimited and co-producer
of the one-day event, a second half-day conference is now planned for June
9 at the Waldorf-Astoria Hotel in New York in response to demand from hoteliers,
lenders and others who were unable to attend the first event.
"The one-day ‘Essentials of Hotel Ownership’ symposium far exceeded my expectations,” said Craig Sullivan, hotel specialist with North American Title, a company that deals with the sale, refinancing and construction of hotel properties across the country. “The conference provided a common-sense, how-to approach to managing hotels that is overlooked today. This information is critical to anyone who owns or manages under-performing properties. I took more notes at this event than I have at any other conference I have attended over the past few years – and that’s quite a bit."
Sullivan said he recommends the “Essentials Of Hotel Ownership” conference to first-time, single asset owners and experience multi-asset owners to get a back-to-basics overview of running a property today, especially amidst an uncertain economy.
“This one-day conference is beneficial to everyone in hospitality, from the new person in the industry to the seasoned hotel veteran,” Sullivan said. “The format provided information for every level of expertise in the hospitality industry, including those looking from the outside-in, such as real estate professionals, brokers, attorneys and lenders.”
Neil Freeman, president of Aries Capital, agreed.
“The education we received through this conference was very important to those of us in the hotel-deals business – especially considering the beating that hospitality has taken from Wall Street and other lending environments,” Freeman said. “It gave everyone a better understanding of how a hotel operates and the value a good management company can bring to the table to improve asset performance. In turn, we can now better determine if a loan is viable for a property or not.”
Ben Spoelstra, REO Specialist for CIT Small Business Lending, Asset Recovery, summed up his experience by saying: “I’d like to thank [Morris Lasky and his associates] for a professional and informative seminar. The speakers were excellent and the time invested was well spent.”
Produced by Lodging Unlimited, Lodging Unlimited West, Hospitality Solutions LLC and Belmonte-Lasky Asset Management, and hosted by Morris Lasky, John Cauvin and Steve Belmonte respectively, the first event attracted more than 70 institutional lenders, attorneys, investors and brokers.
"There is a great deal involved in hotel ownership, and based on comments from attendees, there seems to be a real demand for continuing education in this area," Lasky said. "With decades of experience in lodging ownership, management and operations, and in turning around the performance of an underachieving property, my colleagues and I provide essential information that will make it possible for all those involved in hospitality, from a behind-the-scenes, investment or ownership standpoint or a hands-on, front-line management standpoint, to enhance the performance and overall long-term value of a property.”
Roger Bloss, president of Best Value Inns, said he is a big advocate for continuing education, and looks forward to attending the second “Essentials Of Hotel Ownership” conference on June 9.
“Morris Lasky and Steve Belmonte have a clear understanding of the challenges faced by hotel owners and operators, and the message they consistently deliver is filled with insight and common-sense logic about what makes a hotel run properly,” Bloss said. “As the head of a growing chain, with nearly 300 properties and 17,000 guestrooms, I’m driven to ensure that quality, professional hotel management is at the cornerstone of our hotels. If you train managers property, you’ll get better results. At Best Value Inns, we believe in training, from the top down – and I personally am looking forward to the opportunities this conference will afford to our team.”
Lasky said he expects the attendance to more than double for the second event next month – especially considering the volume of hoteliers who travel to New York each year in June. For more information on attending “The Essentials Of Hotel Ownership” on June 9 at the Waldorf-Astoria Hotel in New York, contact firstname.lastname@example.org.
Lodging Unlimited Inc., Chicago, Ill., provides the highest level of management, consulting and marketing services for the hospitality industry. Morris E. Lasky, the company's Chief Executive Officer, began his hospitality career in 1956 and has since become one of the industry's leaders in acquisition strategies and operations expertise. He helped found and has been the Chairman of The Lodging Conference since 1995. It is one of the hotel industry's premier conferences and is held every fall at The Arizona Biltmore in Phoenix. Lasky has directed Lodging Unlimited in $5 billion of management activity, development real estate and financing.
Lodging Unlimited Inc.,
|Also See:||Profile of Hotel Ownership in the San Francisco Bay Area / Anwar Elgonemy / January 2004|