KANSAS CITY, Mo - July 20, 2001-- HMBA: America's Hotel Brokers today announced that it has changed its name to Hotel Brokers International and introduced a new logo to reflect the expansion of the organization's market and mission.

"The growing globalization of hotel real estate makes it imperative that brokers expand beyond their traditional markets to stay on the cutting edge," said Tony DeGeorge, CHB, president of Hotel Brokers International (HBI). "Since our founding 42 years ago, we have focused our attention primarily on the United States, where we now account for approximately 60 percent of all hotel transactions. Over the past few years, our members have expanded their reach, working with investors and owners from around the world. The time is right for us to expand our reach globally, and our new name and logo reflect that decision."
    
DeGeorge noted that HBI already has broker members in Mexico and currently is in discussions with several hotel brokerage organizations in Europe. "We also are beginning to explore opportunities in Asia and South America," he said. "HBI expects this more formal recognition of globalization to have a two-way benefit for its current and future members and their clients.
    
Our U.S. members will be able to provide their clients with a greater, more global list of buyers. Our offshore members will be able to provide foreign buyers with better, more informed access to U.S.  markets, as well as an expanded pool of buyers for hotels abroad."
    
HBI also unveiled its new logo, which consists of a stylized globe encircled by the new Hotel Brokers International name. The design will retain the familiar blue color that has identified the organization for more than four decades.
    
"We will expand our membership benefits to professional brokers around the world, including the Certified Hotel Broker program, the industry's only professional certification, which we developed and now oversee in conjunction with Cornell University," DeGeorge said. "As our membership grows internationally, we will examine ways to `globalize' Hotel Investors' Marketplace, which currently showcases U.S.  properties at four regional meetings annually, and our TransActions by HBI hotel transaction database, which contains information on more than 4,000 hotel sales."
    
Founded in 1959, Hotel Brokers International is the world's leading hotel sales organization, with more than 125 member brokers. In 2000, HBI completed nearly $700 million in hotel transactions, representing approximately 60 percent of all transactions in the United States. The association's investment listing service contains an inventory of more than 500 properties and provides members with access to more than 10,000 qualified buyers and owners worldwide. In addition to brokerage services, HBI also provides the Hotel Investor's Marketplace and the Certified Hotel Broker program in conjunction with Cornell University and publishes TransActions by HBI, the leading source of hotel real estate data for the real estate, lending and appraisal industries.
    
In addition to broker members, HBI also offers affiliate membership to professionals in allied fields, including franchising, lending, appraisals and investment services.