Industry News

The symposium "Financing, Developing & Operating Condo Hotels & Branded Residences" is scheduled for December 3-4, 2007 at the MGM Grand Hotel in Las Vegas. Discount registration forms can be obtained from Condo Hotel Center. Contact Susan Greene at Susan@CondoHotelCenter.com or call 407-578-5528.

PRELIMINARY SESSION TOPICS

General Issues

AN OVERVIEW OF CONDO HOTEL & BRANDED RESIDENCE: OPPORTUNITIES VS. RISKS IN TODAY'S MARKET
* Looking at Local Markets for the Hot/Cold Factor * How Branded Hotel Residences Fit into the Mix * Words of Advice to the New Developer * Comparing the 4/5 Star vs. the Middle Market * The Media Impact * Ensuring That Buyers Honor their Deposits, Minimizing Cancellations * Attracting International Buyers * Non-U.S. Properties Still Going Strong * Where Is There Opportunity?
Panelists:
Hans Baumgartner, EUROSSUITES AT DORAL

THE CEO/PRESIDENT PANEL: WHAT IS YOUR STRATEGY FOR MAKING $$ IN THIS MARKET?
This panel discussion features top industry leaders discussing their successes, the lessons they have learned on the way, and their views of tomorrow.
Session Chair:
Jay Neveloff, Partner KRAMER LEVIN NAFTALIS & FRANKEL, LLP
Panelists:
Marty Collins, President GATEHOUSE CAPITAL CORP.
Mark Waltrip, Chief Operating Officer WESTGATE RESORTS

FIRST TIME DEVELOPERS DISCUSSION
* Developing a Condo Hotel vs. Private Residence * What are you Looking Forward to Learning at this Symposium? * How was it Getting Financing? * What was your Biggest Surprise during the Process? * How did you handle the Brand Question? * Dissecting your Amenity Decision * What is your Marketing Strategy? Did it have to Change along the Way? * How are Sales Going? * Handling Lawyer Stuff * Operational Shockers
Panelists:
Bill Ross, Managing Member B SQUARED LC
Matt Gillio, Managing Member BELLA CASA RESORT, LLC
David C. Osborne, Director SV CAPITAL

SMALL/BOUTIQUE HOTEL OWNER'S PANEL
* Planning & Developing the Upscale Boutique Hotel * Branding Boutique Properties * Size vs. Markets * Marketing your Boutique Property * Getting the Financing Done * Amenities Offered *
Session Chair:
Thomas F. O'Neill, President HOTEL INVESTORS SERVICES, INC.
Panelists:
Doug Lien, Principal DEL CONSULTING
Joel W. Hiser, Chief Executive Officer HORWATH HOSPITALITY & LEISURE LLC
David Teitelbaum, President TEITELBAUM DEVELOPERS, INC.

INSURANCE & LIABILITY ISSUES
* In Light of Current Market Conditions What are the Various Lines of Insurance to be considered? * What are the Insurance Issues to Bear in Mind for the Construction Phase? * Operational Planning: What Measures Should a Developer/Manager Take Prior to Opening to Ensure a Proper Insurance and Risk Management Program? What is the Role and Responsibility Relative to Insurance for the HOA, Unit Owner, Developer Manager? * Post Completion Issues: What are the Ongoing Issues Relative to Cost, Allocation and Lenders, Once Operating? What Can Owners/Operators Anticipate Relative to a Large Claim and How can they prepare for and manage the Process Successfully? * Insurance Issues of Different Types of Residences
Panelists:
Brent Russell, Senior Vice President BMS CAT
Wes Brandt, Area Vice President GALLAGHER HOSPITALITY SERVICES
Tom McCall, Senior Vice President LOCKTON COMPANIES

Financing Options

FINANCIAL OPTIONS FOR UNIT BUYERS: A NEW PARADIGM?
* Financing Condo Hotels vs. Private Residences * Popular Structures * Walking Out vs. Working Out * 1031 Exchanges * Condo Hotel Sale Leaseback Programs * Financing the Multi-Unit Buyer * Developer/Mortgage Financier Joint Ventures
Session Chair:
Connie Pickard, THE PICKARD GROUP
Panelists:
Michael Fleischer, Vice President CANYON CAPITAL
David Disick, CEO, Founder & President CHÂTEAUX SOCIETY
Larry S. Cohen, Senior Vice President LAKE BUENA VISTA RESORT VILLAGE & SPA
Ross Pickard, Director THE PICKARD GROUP

MORTGAGE & DEBT FINANCING: ARE THE CAPITAL MARKETS STILL OPEN?
* What Kind of Residential Hotel Projects are Lenders Financing? Geographic Preferences? What are the Terms? * Role of Experience in Obtaining Financing * How Many Room Sales & Equity do you Need to Sell Before the Financier will Open the Door? With Condo Flippers Walking Away how is Equity being Evaluated? * Evaluating Brand Power * Workouts: Are they Working Out? * Role of Mezzanine & Subordinated Finance in this Market? * What Structures are now In-Vogue * Can you Use the "A" Part of an "A/B" Note as your Equity Requirement? * Collateral Requirements
Panelists:
Chris Woronka, Vice President, Equity Research DEUTSCHE BANK
Steve Gold, Managing Director HOTEL FINANCIAL STRATEGIES
Ronald C. Muzii, Jr., Senior Vice President HREC INVESTMENT ADVISORS

PARTNERSHIPS, JOINT VENTURES & EQUITY CAPITAL
* Cost of Equity * How Much Equity is Generated by Unit Sales? * Looking for Equity Capital Mid-Project * Joint Venture Structures * Bringing in a Non-Hospitality Partner for your Mixed-Use Property * Non-Traditional Sources of Equity * Acquisition Joint Ventures * What to do When you Can't Locate an Equity/Joint Venture Partner?
Session Chair:
Bob Sonnenblick, Chairman Emeritus SONNENBLICK DEL RIO
Panelists:
David Disick, CEO, Founder & President CHÂTEAUX SOCIETY
Anthony Pearl, Associate General Counsel HARRAH'S ENTERTAINMENT
Howard Shapiro, President HOWARD SHAPIRO & CO.

Current Market/Variations On Theme

BRANDED RESIDENCE PANEL: THE KEYS TO SUCCESS
* What Locations are Appropriate for Branded Residences? * What Brands are in the Branded Residence Business? * What are the Fees Associated with Branded Residences? * Design & Amenities * Branded Residence Operations * Successfully Integrating Branded Residences with the Hotel
Panelists:
Gary Lake, Senior Vice President GENCOM GROUP
Peter Connolly, President, Hotels PALLADIAN DEVELOPMENT
Francis A. Wong, Chairman & CEO GENESIS HOTEL DEVELOPMENT LLC

THE ROLE OF CONDO HOTELS & BRANDED RESIDENCES WITHIN A CASINO PROPERTY
* Will Casino Growth Continue? * Evaluating the Mixed-Use Casino Project * The Realities of Non-Vegas Properties: Comparing Native, Non-Native vs. Latin/Caribbean Markets * Branding a Casino Project: Is it Necessary? * Taking Advantage of being Near a Casino * Debt, Equity & Private Equity Financing * Marketing Considerations
Panelists:
Mark Birtha, Vice President, Development THE EDGE GROUP
Roy Smolarz, Managing Director ROCK CREEK CAPITAL ADVISORS
Marlin F. Torguson, Chairman & CEO TORGUSON GAMING GROUP, INC.

IT ISN'T EASY BEING GREEN: A RAINBOW CONNECTION OF ENVIRONMENTALLY-FRIENDLY PRACTICES FOR CONDO HOTEL & BRANDED RESIDENCES
* How Big is the Market for Green Hotels? * Are Consumers Interested in the Concept? * Green Construction and Operational Components * LEED Certification & Energy Star: What do they Mean? * Who are the Players in the Green Hospitality Space? * High Performance Building Envelope * Day Lighting and Lighting Control Systems * Energy Efficiency Requirements Including Using Renewable Sources * Use of High Recycled-Content and Locally Procured Materials * Applications to Improve Indoor Air Quality * Minimizing Greenhouse Gas Emissions from Operations * Reducing Reliance on Potable & Irrigation Water
Panelists:
Wen-I Chang, President ATMAN HOSPITALITY GROUP, INC.
Jim Walters, Vice President, Development BIGHORN MEADOWS RESORT LTD.
John Anderson, Principal J.H. ANDERSON HOLDINGS, INC.

ALTERNATIVE MARKETS FOR BRANDED RESIDENCES & CONDO HOTELS
* The Anatomy of a Successful Theme * Indoor Water Park Properties * College Town/Sports Markets * Secondary/Tertiary Markets * Gay-Themed Applications
Panelists:
Bob Lipsitz, President DOUBLE JJ RANCH AND GOLF RESORT
Steven J. L. Goforth, Manager & General Counsel GOFORTH GROUP, LLC
David C. Osborne, Director SV CAPITAL

VIVA LAS VEGAS: OWNED-RESIDENCE OPTIONS AND THE VEGAS MARKET
* $40 million an Acre… Really? * New Project & Mega Resort Update * What is Announced is not Always Built… Why? * $1000 Per Square Foot: What is in the Residence? * Off-Strip Happenings * Will the Travel Increases Continue? Will there be Enough to Accommodate the 32,000 Rooms being Constructed? * Is the Strip the Only Place you can Make $$ on a Cancelled Project?
Panelists:
Mark Birtha, Vice President, Development THE EDGE GROUP
Anthony Pearl, Associate General Counsel HARRAH'S ENTERTAINMENT
David G. Schwartz, Director, Center for Gaming Research UNLV

MIXED-USE RESORT PROPERTIES & THE AMENITIES TO MAKE THEM WORK
* Defining Mixed-use * What Type of Product Mix Works for Resorts? * Popular Restaurant Themes & Mix * Retail & Restaurants: What Makes Sense for your Scale of Project * Comparing Branded vs. Unbranded Amenities * Do Amenities have to Make $$ to Work? * Should you Own or Manage your Retail/Restaurants and Other Amenities?
Panelists:
Ricardo Hazoury, President CAP CANA
Freddy Kalles, Executive Consultant, Sales EXTENWAY SOLUTIONS, INC.
Lynn Cadwalader, Partner HOLLAND & KNIGHT
David Schwartz, Managing Principal THE MANAGEMENT CONSORTIUM, INC.

URBAN CONDO HOTELS: HOW TO MAKE GROUND FLOOR RETAIL, URBAN AMENITIES AND MIXED-USE RESIDENCE A SUCCESSFUL MIX
* What Amenities are Must-Haves for Urban Projects? * Contrasting Condo Hotel Rooms vs. Branded Residences * Residence & Product Mix * Athletic Clubs and Other Standard Amenities: The Outsource Decision * What Amenities are Value-Ads for the Urban Dweller? * Identifying your Target Market * Beyond Ground Floor Retail * Large-Scale, Multi-Building Projects Incorporating all of the Food Groups * Development Time-Frame
Panelists:
Marty Collins, President GATEHOUSE CAPITAL CORP.
Doug Lien, Principal DEL CONSULTING
Scott Podvin, President PODVIN DEVELOPMENT GROUP

WHAT'S NEW IN BRANDED MIXED-USE DEVELOPMENT? TALK TO THE BRANDS
Session Chair:
Lynn Cadwalader, Partner HOLLAND & KNIGHT

Construction & New Projects

ARCHITECTURAL & DESIGN: COMPARING BRANDED RESIDENCES VS. CONDO HOTEL SPACES
* How did you Decide on the Optimal Mix: Properties with Branded Residences, Condo Hotels & Other Residence Options * Comparing Necessary Amenities for Both Kinds of Properties * Public Space & Common Area Commonalities

BUYING/SELLING/TRANSFORMING A DISTRESSED CONDO HOTEL PROJECT VS. CONSTRUCTION, RENOVATION & CONVERSION OF AN EXISTING PROPERTY
* Insurance & Risk Management * Buying/Selling at Different Points of the Lifecycle: Pre-Construction Until After Unit Sale * Valuation * Evaluating What Went Wrong on the Failed Project and the Remedy * Transforming a Failed Condo Hotel into Another Type of Project * Redevelopment/Sale & the Role of Unit Owner/HOA
Panelists:
Robert Stoehr, Chairman RHS COMPANIES, INC.
David Teitelbaum, President TEITELBAUM DEVELOPERS, INC.

FEASIBILITY/MARKET ANALYSIS
* Market & Macroeconomic Evaluation * Cost of Land, Construction & Impact of Hotel Level * Evaluating the Product and Amenities * Unit Owner Economics * Resulting Hotel Sustainability * Development Earnings Feasibility * Analyzing the Market and Determining What Attracts People
Panelists:
Edward L. Xanders, President INTERIM HOSPITALITY CONSULTANTS, LLC
Joel W. Hiser, Chief Executive Officer HORWATH HOSPITALITY & LEISURE LLC
Gary London, President LONDON GROUP REALTY ADVISORS
Robert Stoehr, Chairman RHS COMPANIES, INC.

Legal Topics

DEALING WITH CONTINGENCIES: PROJECT UNDERPERFORMANCE, FAILURE, CANCELLATIONS & BANKRUPTCIES… OH MY
* Can I have a Remedy?: Why is the Product Underperforming? * Anatomy of a Cancellation * Alternative Use if Failure * Rescissions: What to do When a Buyer Walks? * Pulling Out of a Project: The Legalities and Ramifications * What Kind of Lawsuits are Coming out of these Cases? * Examples of Business Plans that Failed and Why * What does it Take to put a Room Back into the Rental Program? * Enforceability of Contracts * If the Bubble has Burst in your Market, What's Next? * How Easily is it to Unwind a Condo Hotel or Mixed-Residence Structure?
Panelists:
Steven J. L. Goforth, Manager & General Counsel GOFORTH GROUP, LLC
Mark Ellert, President GUY HARVEY OUTPOST RESORTS, LTD.
Bruce Stein, Vice President SHAMROCK CAPITAL ADVISORS
Harry Stinson, President STINSON PROPERTIES, INC.

SALES & MARKETING COMPLIANCE: A PRACTICAL GUIDE ON A HOW A DEVELOPER CAN PROTECT HIM/HERSELF
* Salesman Training & Monitoring Strategies * How Should a Salesman Respond if he is Specifically Asked About Condo Hotels as Investments? * Selling Condo Hotels as Securities * Federal & State Registration Compliance * Developer & Management Company Responsibility on Secondary Unit Sales
Panelists:
Matt Gillio, Managing Member BELLA CASA RESORT, LLC
William Lagman, Owner CANAL PLACE SUITES, LLC
Missy Turra, Partner HOLLAND & KNIGHT

HOTEL RESIDENCES & THEIR DOCS: THE KEYS TO AVOIDING PLAINTIFF LAWSUITS?
* Plaintiff Lawsuits: What Kind of Cases are Coming Up? Case Law Possibilities, Settlements & Judgments * Governance Structure and Control Issues of Branded Residences vs. Condo Hotels * Insurance Considerations *
Panelists:
Tom McCall, Senior Vice President LOCKTON COMPANIES

RENTAL PROGRAMS, SPLIT OPTIONS, UNIT RENTAL MANAGEMENT AGREEMENTS & OPERATIONS
* What Types of Splits are Common? What Drives the Numbers? Are Splits in the Customer's Favor a Selling Point? * Sale/Leaseback Programs * What Percentage of your Owners Opt Out of the Rental Program? How do you Handle? Encouragement & Penalties * Comparing the Realities of the Program vs. the Reality of the Paper * How Much does an Owner Make Back? * Room Reserves and Capital Charges * Room Rotation & Cost Allocation Standards * Length of Stay Allowed per Year: Local Laws & Management Preferences * What Accounting Information do you Need to give Room Holders
Panelists:
S. Chevis Hosea, Vice President, Development KSL LA COSTA DEVELOPMENT CORP.

MAKING HOTEL OPERATING & MANAGEMENT AGREEMENTS COME ALIVE
* Resort Fees and Assurances of Voluntary Compliance Agreements * Marketing & Sales Support * Residence Complexities to be Aware of * Operating & Management Agreements when the Operator/Manager is a Partner * Revenue/Cost Splits * Service-Level Agreements & Dismissal Clauses * The Brand Factor
Panelists:
Bob Lipsitz, President DOUBLE JJ RANCH AND GOLF RESORT
Christian A. Salaman, Associate PILLSBURY WINTHROP SHAW PITTMAN LLP
Alan M. Sonnabend, Vice President of Development SONESTA COLLECTION

Marketing Issues

MEETING THE SALES CHALLENGE … AM I MISSING ANYTHING ?… MARKETING YOUR PROPERTY IN TODAY'S ENVIRONMENT
* Marketing to Buyers as They Become More Educated * Finding 1031 Exchange Buyers * Condo Hotel Sale Leaseback Programs: Why They Work * Successful Application of Buyer Incentives * Using Marketing Technology * Creating Successful Websites * Selling your Destination * Pre- and Post-Sale Issues * Competing with Resales & Early Buyers * Finding Non-Local Buyers
Panelists:
Greg Shove, HELIUM REPORT
Larry S. Cohen, Senior Vice President LAKE BUENA VISTA RESORT VILLAGE & SPA

THE RIGHT BRAND: RECRUITING/CHOOSING/REBRANDING
* Is Location Enough? Do you Need a Brand? * Keys to Successfully Navigating the Process * Which Brands are Currently Active in the Residential Hotel Space? What are their Terms & Conditions? * Building your Own Brand * Branded Amenities * The Branded Residence: Is a Brand More Important than Other Types of Hotel Residences? * Comparing Luxury vs. Middle Market Brands * When Will a Rebranding Work? * Internal Vs. 3rd-Party Management: Which Way Should You Go?

THE BIG BRAND OUTLOOK
* What has been your Experience, Level and Keys to Success with Hotel Residence Products? * What Kind of Residences are you Currently Involved in? What Locations? Quality? * Fees for Branded Residences vs. Condo Hotels * Joint Venture Partnering vs. Using your Name/Management
Panelists:
Lynn Cadwalader, Partner HOLLAND & KNIGHT

LOOKING AT KEY BUYER DEMOGRAPHICS AND HOW TO EFFECTIVELY REACH THEM
* Bulk/Institutional Buyers * Business Travel Panel * Targeting the Family Market * Marketing to the Oversea Buyer * Reaching the Sophisticated, Internet Savvy Customer * What do Second Home Buyers Look for? * Is the Mature Market Interested?

UNBRANDED PROPERTIES: THE SECRETS TO MY SUCCESS
* Role of Branded Amenities * Getting the Word out without the Brand * How did you Determine your Location/Strategy was Enough? * Success Stories of Non-US, Brandless Properties * Do you Use a Management Company?
Panelists:
Jay DiGiulio, President BOUTIQUE HOTEL INTERNATIONAL
William Lagman, Owner CANAL PLACE SUITES, LLC
Craig Wilkinson, Director of Operations GRAND CAMBRIAN RESORT

RESALES/SECONDARY & BULK BUYER MARKET
* Comparing the Resale vs. Primary Markets * Should Developers get Involved in a Resale? * Do Brokers have to Follow the Same Regulations on Resales as Initial Offerings? * Who is Responsible if a Resale is Sold Incorrectly? * Applicable SEC Regulations * Are Unit Buyers Sophisticated and Asking for 24 Month Trailing Income or are they Interested in the Location/Prestige
Panelists:
Michael Fleischer, Vice President CANYON CAPITAL

Operations

A SHORT HISTORY OF OPERATING PROJECTS AND OPERATIONAL REALITIES
Now that there are condo hotels operating this session of seasoned operations executives will share their on-site experiences on the following:
* What can you Expect to go Wrong Upon Opening? * Running the Residential/HOA Part of the Operation * Realities of Revenue, Income, Expense & Cash Flow * How many People Actually Join the Rental Program? * Preventive Maintenance & Annual Servicing for a Condo Hotel/Branded Residence * Keeping Operations Profitable * Managing 3rd-Party Operators * The Practicalities of the Condo Docs
Panelists:
Craig Wilkinson, Director of Operations GRAND CAMBRIAN RESORT
Mark Manring, Chief Operating Officer HOTEL CONDO SERVICES, LLC
Alan M. Sonnabend, Vice President of Development SONESTA COLLECTION

COMMON AREA COMPLEXITIES
* Valuing the Common Area * Who Should Own the Common Area? * Paying for Common Area Upkeep

Special Programming

CONDO HOTELS, BRANDED RESIDENCES 101: AN INTRODUCTION TO THE TERMINOLOGY & THE ANATOMY OF A SUCCESSFUL PROJECT
* Identifying the Components of a Successful Property * Financial Structures & Operating Issues * Mixed-use Residence & Residence vs. Hotel Decision: Comparing Fractionals/Timeshares, Hotel Residences and Condo Hotels * Building the Right Team * Revenue Per Room/Pricing on Branded Residences, Condo Hotels and Other Residence Products
Session Chair:
David Schwartz, Managing Principal THE MANAGEMENT CONSORTIUM, INC.

GEOGRAPHICAL ROUNDTABLES
* Caribbean & Latin Markets: Lynn Cadwalader, Partner HOLLAND & KNIGHT
* Las Vegas
* Ski Markets
* AZ/San Diego/Palm Springs: S. Chevis Hosea, Vice President, Development KSL LA COSTA DEVELOPMENT CORP.
* Florida: Missy Turra, Partner HOLLAND & KNIGHT
* Northeast
* LA/Northern CA/Pacific NW

SMALL/BOUTIQUE ROUNDTABLES
* Architecture/Construction: Jim Walters, Vice President, Development BIGHORN MEADOWS RESORT LTD.
* Finance: Jonathan Zurkoff, Chief Financial Officer TAMARACK RESORT LLC
* Marketing: Scott Podvin, President PODVIN DEVELOPMENT GROUP
* Management/Operations

If you have any questions or to request a discount registration form courtesy of Condo Hotel Center, contact Susan Greene at Susan@CondoHotelCenter.com, 407-578-5528.