Hotel Online  Special Report

HREC Investment Advisors Financing Practice is "Shining," As it Arranges
$13 million for the Storied Stanley Hotel, Estes Park, Colorado


HREC Investment Advisors surpasses more than $100 million in total debt
financing over the past six months, as the market remains strong

NEW YORK, August 23, 2005 – HREC Investment Advisors, a leading international hotel brokerage and investment banking group specializing in the lodging industry, arranged $13 million in debt financing for The Stanley Hotel, known internationally for its architecture, magnificent setting and its inspirational role in Stephen King's novel "The Shining." King wrote the most of the famous novel while staying at the hotel.

The financing came from Column Financial, a subsidiary of Credit Suisse First Boston. 

HREC IA facilitated the transaction among Grand Heritage, a new partner, Winston Hotels, and Urdang Securities.

Geoff Davis, HREC IA’s President and head of its New York office, said the transaction was challenging due to the resort’s location, the historic nature of the asset and seasonality factors – challenges all overcome by excellent sponsorship, the asset’s strong cash flow, excellent management and recent improvements at the hotel. 

Davis said, “We are pleased to have been involved in this transaction, which brought together a truly unique asset and a strong team to effectuate a ‘win-win’ for all parties involved.” He concluded, “Having arranged more than $100 million in hotel debt financing in the past six months alone, we anticipate the hotel debt market to remain strong as long as hotel performance continues to improve and interest rate increases remain at reasonable levels.”

About The Stanley Hotel

Famous for its old world charm, The Stanley Hotel is a historic properties less than an hour from Denver that boasts spectacular views in every direction and is less than six miles away from Rocky Mountain National Park. The property’s multi-million dollar renovations have restored this 138-guestroom hotel to its original grandeur. The Stanley offers over 16,000 square feet of unique meeting and event space equipped with modern day amenities, a spa and two fine dining restaurants.

About HREC Investment Advisors

HREC Investment Advisors is a leading international hotel brokerage and investment banking firm that specializes in the lodging industry, with offices in Denver, CO; Chicago, IL; Tampa, FL and New York, NY. The company has arranged hospitality transactions ranging in size from $1 million to $200 million, including limited service hotels, mixed-use resorts, development projects and full service hotel properties. HREC IA has several decades of experience in the lodging sector, and a reputation for implementing a coordinated sales process that maximizes value and expedites the timeline for transactions - utilizing unique resources such as cutting-edge direct marketing, databased e-marketing and deal tracking to benefit HREC Investment Advisors clients. Areas of activity for HREC Investment Advisors include hotel finance, structured finance, equity placements and hotel sales. 


 Michael Frenkel
 (212) 808-6556

Geoff Davis
(212) 551-1775

Also See: New Casino Development Survey, Published by HREC®, Identifies Trends for 2005 and Beyond / August 2005
HREC Investment Advisors Announces Listing For Sale of St. Mary Lodge and Resort, Including 86 Acres of Land Adjacent to Glacier National Park, St. Mary, Montana / June 2005
HREC's Newly Created New York City Office Closes More than $150 million in Less than Five Months, Appoints Vice President / June 2005
HREC Advises on Sale of The Gulph Creek Hotels Portfolio, Greater Philadelphia, in $92,000,000 Transaction / May 2005

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