'); document.writeln('

'); document.writeln(' Hotel sales jump 136% in first half of the year'); document.writeln('

'); document.writeln('

Hotel investment activity is picking up and surpassing other types of real estate deals as buyers see promise in rising occupancies and room rates.

'); document.writeln('

'); document.writeln(' Research: U.S. hotels should see a 2.3% rise in 2010 income'); document.writeln('

'); document.writeln('

The average U.S. hotel should see a 2.3% increase in net operating income in 2010, according to Colliers PKF Hospitality Research. Demand surged in the first half of the year, and the trend is expected to continue, with the expected growth representing the first annual increase in net operating income since 2007. Hotels experienced a 37.8% cumulative decline in profit from 2007 through 2009.

'); document.writeln('

'); document.writeln(' Meet the new American leisure traveler'); document.writeln('

'); document.writeln('

According to Ypartnership\'s 2010 Portrait Of American Travelers, the U.S. leisure travel market has finally stabilized. In fact, the data suggest the industry can expect a modest increase in demand in the year ahead.

'); document.writeln('

'); document.writeln(' 2 Atlanta hotels are sold for conversion to student housing'); document.writeln('

'); document.writeln('

Georgia State University has purchased two hotels in Atlanta for an undisclosed amount. The university plans to convert the former Wyndham Garden Hotel and Baymont Inn, which, combined, used to be a Holiday Inn, to student housing.

'); document.writeln('

'); document.writeln(' HDC: Outside influences shape hotel industry'); document.writeln('

'); document.writeln('

As if spiraling operating fundamentals weren’t enough to deal with, hoteliers need also to contend with outside influences on the industry.

'); document.writeln('

'); document.writeln(' Proposed changes to SBA loan limits bring new options'); document.writeln('

'); document.writeln('

Changes to SBA loan limits could mean more money to fix up a distressed property, or better options when it comes to finding good properties to buy.

'); document.writeln('

'); document.writeln(' 5 things to do before signing your next PIP'); document.writeln('

'); document.writeln('

Have you taken a good look at the real cost of the product improvement plan you are signing? You may be surprised when it costs more or takes far longer than anticipated to achieve that new room rate. Minimize the problem by following these five steps during your negotiations with the brand.

'); document.writeln('

'); document.writeln(' The RevPAR recovery race'); document.writeln('

'); document.writeln('

The U.S. top 26 markets RevPAR-recovery leader remains New Orleans.

'); document.writeln('

'); document.writeln(' Pro: Blue skies ahead (the worst is behind us)'); document.writeln('

'); document.writeln('

There are many reasons for confidence in the hotel industry\'s recovery: transient demand is back, rates are improving, unemployment has bottomed out, corporate America is doing well and inflation is minimal.

'); document.writeln('

'); document.writeln(' Con: The sky is falling (the worst is still to come)'); document.writeln('

'); document.writeln('

There are several factors that cloud the hotel recovery horizon: growth rate comparables are easy, group business is not back, new supply must be absorbed and NYC strength skews the data.

'); document.writeln('

'); document.writeln(' Thousands of Restaurants Are Closing'); document.writeln('

'); document.writeln('

Between last spring and the same period in 2009, just over 5,200 restaurants closed their doors, most of them by independent operators.

'); document.writeln('

'); document.writeln(' STR reports first-half 2010 results'); document.writeln('

'); document.writeln('

The U.S. hotel industry reported increases in occupancy and RevPAR for the first-half of 2010.

'); document.writeln('

'); document.writeln(' Hilton CEO: Most growth in coming years will be outside the U.S.'); document.writeln('

'); document.writeln('

In an interview, Hilton CEO Chris Nassetta says the company expects the bulk of its growth in coming years to take place outside the U.S. As much as 40% of the company\'s development pipeline is currently outside of the U.S., compared with 15% two years ago, he said, and the global pipeline is at 900 hotels and nearly 135,000 rooms.

'); document.writeln('

'); document.writeln(' Mapping U.S. time-lapsed RevPAR performance'); document.writeln('

'); document.writeln('

Using geographic information systems software to understand the nature of fundamental shifts in our industry is becoming more important to all participants.

'); document.writeln('

'); document.writeln(' Innkeepers USA Files For Prearranged Bankruptcy'); document.writeln('

'); document.writeln('

Innkeepers USA Trust agreed to a prepackaged bankruptcy filing that will leave real-estate entities of Lehman Brothers Holdings Inc., one of its biggest creditors, with substantially all of the equity in the reorganized company.

'); document.writeln('

'); document.writeln(' Data crunchers: Recovery chugs on'); document.writeln('

'); document.writeln('

Panelists at the ALIS Summer Update have positive news for the hotel industry, but there are a few things to keep an eye on.

'); document.writeln('

'); document.writeln(' 5 secrets from asset managers'); document.writeln('

'); document.writeln('

A panel of asset managers shared their secrets for surviving the downturn and preparing for recovery during a breakout session at the Midwest Lodging Investment Summit.

'); document.writeln('

'); document.writeln(' PKF-HR releases Hotel Horizons accuracy assessment'); document.writeln('

'); document.writeln('

These are some of the conclusions of a white paper recently published by PKF-Hospitality Research, whose purpose was to quantify the accuracy of their proprietary Hotel Horizons reports.

'); document.writeln('

'); document.writeln(' How to Make Frequent Guest Programs Work for You'); document.writeln('

'); document.writeln('

Ten Ideas Reported in the Latest Cornell Hospitality Report

'); document.writeln('

'); document.writeln(' Travel, procurement spending forecast to surge by 2011 '); document.writeln('

'); document.writeln('

Commercial card volumes last year declined for the first time in history as organizations implemented across-the-board spending cuts

'); document.writeln('

'); document.writeln(' Leaders Say They\'re Sensing the Comeback '); document.writeln('

'); document.writeln('

At last week\'s AAHOA conference, brand leaders are feeling a comeback.

'); document.writeln('

'); document.writeln(' IREFAC: Hotel industry should see lots of upside'); document.writeln('

'); document.writeln('

Panelists were surprised by the Q1 performance pickup, but said it’s not yet time for a transactions surge.

'); document.writeln('

'); document.writeln(' PIP financing remains tough to come by'); document.writeln('

'); document.writeln('

Property improvement plans play a big role in turnaround plans. But financing for PIPs remains difficult to find.

'); document.writeln('

'); document.writeln(' What the Brokers Say '); document.writeln('

'); document.writeln('

Transactions are up, but the market dynamics have experts divided on the best strategy for buyers and sellers.

'); document.writeln('

'); document.writeln(' Who\'s Doing Social Media Well in the Travel Industry? Almost No One'); document.writeln('

'); document.writeln('

How should the travel industry get its message out via social media?

'); document.writeln('

'); document.writeln(' Can someone answer the tough questions, please? '); document.writeln('

'); document.writeln('

Hotel leaders assemble often enough that the conversation on stage should advance, not repeat.

'); document.writeln('

'); document.writeln(' NYU: Data from downturn tempers leaders\' optimism'); document.writeln('

'); document.writeln('

Researchers point to past rate-cutting, and future rate recovery, as a main concern moving forward. Recovery in demand will be shaped like a V and ADR will be shaped like a U, they say.

'); document.writeln('

'); document.writeln(' Numbers now back up the \'staycation\' phenomenon'); document.writeln('

'); document.writeln('

One of the consequences of the Great Recession was the emergence of a new form of leisure travel called a staycation. Last year, Ypartnership research suggested it was more myth than reality, but this year the data tell a different story and the implication for hotel marketers is clear.

'); document.writeln('

'); document.writeln(' REIT outlook is rosy'); document.writeln('

'); document.writeln('

The combination of improving fundamentals in the hotel sector and relatively low prices is likely to keep real estate investment trusts busy this year.

'); document.writeln('

'); document.writeln(' Key considerations in picking up distressed hotels'); document.writeln('

'); document.writeln('

As hotel investors step up activity in swooping in on distressed properties, several key issues should be considered in determining the best deals.

'); document.writeln('

'); document.writeln(' CMBS problems have just begun'); document.writeln('

'); document.writeln('

Hotels represent a disproportionate amount of loans in special servicing. So, what now?

'); document.writeln('

'); document.writeln(' PKF: Hotel profits down record 35.4 percent'); document.writeln('

'); document.writeln('

The average U.S. hotel suffered a 35.4-percent decline in profits during 2009. This is the greatest annual fall-off in the bottom line since PKF-HR began tracking the industry in the 1930s.

'); document.writeln('

'); document.writeln(' Follow the money '); document.writeln('

'); document.writeln('

The capital markets are functioning better than they were, but that doesn’t mean they have completely recovered.

'); document.writeln('

'); document.writeln(' Comparing top US markets\' peak to trough'); document.writeln('

'); document.writeln('

As the economic recession eases and travelers return to the road, let’s take a look at the performance of the 25 largest hotel markets (excluding Las Vegas) to see how much or how little these markets have recovered.

'); document.writeln('

'); document.writeln(' Cornell Study Finds Discounting Did Little to Offset Loss During Economic Downturn'); document.writeln('

'); document.writeln('

Best practices recommendation: Focus on hotel marketing plans and rate-obscuring tactics

'); document.writeln('

'); document.writeln(' Marriott\'s first-quarter earnings exceed expectations'); document.writeln('

'); document.writeln('

Marriott International exceeded analysts\' expectations by posting net earnings of $83 million, or 22 cents a share, in the first quarter, compared with a net loss of $23 million, or 6 cents a share, in the same quarter in 2009.

'); document.writeln('

'); document.writeln(' STR reports first-quarter results for 2010'); document.writeln('

'); document.writeln('

The U.S. hotel industry reported occupancy increases for the first quarter of 2010, according to data from STR.

'); document.writeln('

'); document.writeln(' Hotel analysts improve industry forecasts'); document.writeln('

'); document.writeln('

Hotel rates should continue to decline throughout the year, but revenue could make a strong rebound in 2012, according to PKF Hospitality Research

'); document.writeln('

'); document.writeln(' High Court Solidifies Rights of Franchisors under the Petroleum Marketing Practices Act'); document.writeln('

'); document.writeln('

The court held that a franchisee who is offered and signs a renewal franchise agreement cannot maintain a claim for unlawful nonrenewal under the PMPA.

'); document.writeln('

'); document.writeln(' Hilton\'s \'dualtel\' strategy gains momentum'); document.writeln('

'); document.writeln('

Having two branded hotel properties under one roof is becoming more popular as developers see the efficiencies of such projects.

'); document.writeln('

'); document.writeln(' Atlanta conference: Data signals better times'); document.writeln('

'); document.writeln('

The hotel industry is showing signs of heading in the right direction, but a full-scale recovery has yet to begin.

'); document.writeln('

'); document.writeln(' US hotel loan default rate may double by 2012'); document.writeln('

'); document.writeln('

Fitch says U.S. hotel defaults could reach 30 percent in two years.

'); document.writeln('

'); document.writeln(' The myths and realities of buying distressed hotels'); document.writeln('

'); document.writeln('

At investment conferences last year, experts salivated at the prospect of a flood of distressed properties predicted to hit the market in 2010. Potential buyers are now finding, however, that all that glitters is not gold. Here are some myths about distressed properties and the realities of the market.

'); document.writeln('

'); document.writeln(' 10 tips for dealing with distressed hotel debt'); document.writeln('

'); document.writeln('

Before you pick up the phone to call your lender, read these pointers on distressed-loan guidance.

'); document.writeln('

'); document.writeln(' Deep debt discounts available in 2010'); document.writeln('

'); document.writeln('

Now is the time to find deeply discounted debt, such as KSL Capital Partners’ reported acquisition of $380 million of La Costa Resort & Spa’s debt for $120 million

'); document.writeln('

'); document.writeln(' Asset Managers - SWAT Teams for Troubled Hotels'); document.writeln('

'); document.writeln('

These days overwhelmed operators are turning toward outside pros to get their bottom lines in order. Here’s the deal.

'); document.writeln('

'); document.writeln(' Five things franchisees must know for 2010'); document.writeln('

'); document.writeln('

The next year will be a pivotal one for franchisees. Here are five things that every franchisee should keep in mind.

'); document.writeln('

'); document.writeln(' Ritz-Carlton to close Lake Las Vegas resort'); document.writeln('

'); document.writeln('

Hotel Check-In has learned that the Ritz-Carlton Lake Las Vegas in Henderson, Nev., will close its doors for good on May 2, 2010, which will put around 400 employees out of work.

'); document.writeln('

'); document.writeln(' Hotels lead commercial real estate in loan delinquencies'); document.writeln('

'); document.writeln('

Hotels have the highest rates of loan delinquencies in all classes of commercial real estate, according to data provider Trepp.

'); document.writeln('

'); document.writeln(' STR\'s Randy Smith presented with Lifetime Achievement Award'); document.writeln('

'); document.writeln('

Smith was recognized for his legacy in pioneering global hotel benchmarking

'); document.writeln('

'); document.writeln(' Examining pay-to-play and pretend-and-extend'); document.writeln('

'); document.writeln('

The two strategies are not mutually exclusive and the decision-making process for all parties should naturally take both into account.

'); document.writeln('

'); document.writeln(' Atlas 2009 Year End Hotel Survey . . . and what it means '); document.writeln('

'); document.writeln('

If lenders are looking for some encouraging news on their distressed hotel asset sales prospects, they are not going to get it anytime soon.

'); document.writeln('

'); document.writeln(' These conferences reveal some interesting trends'); document.writeln('

'); document.writeln('

ALIS and the HBI meeting give some much-needed guidance to where the hotel industry is heading in 2010.

'); document.writeln('

'); document.writeln(' STR releases updated forecasts for 2010, 2011'); document.writeln('

'); document.writeln('

The U.S. hotel industry is projected to end 2010 with decreases in two of the three key performance measurements, according to STR’s monthly forecast update.

'); document.writeln('

'); document.writeln(' ALIS: Industry thankful 2009 is over'); document.writeln('

'); document.writeln('

Hoteliers say they\'re focused on the best recovery strategies, but forecasters are all over the map trying to pinpoint exactly how long that recovery will take.

'); document.writeln('

'); document.writeln(' STR: US hotel industry ends \'09 with double-digit RevPAR drop'); document.writeln('

'); document.writeln('

Revenue per available room fell 16.7 percent to US$53.71 during 2009, according to year-end reports from Smith Travel Research.

'); document.writeln('

'); document.writeln(' Four Seasons Resort in Irving, home of Byron Nelson golf tournament, is posted for foreclosure'); document.writeln('

'); document.writeln('

Lenders have filed to foreclose on the 400-room Four Seasons Resort and Club Dallas at Las Colinas, considered one of Texas\' highest-rated hotels.

'); document.writeln('

'); document.writeln(' Room to Run at the Inn? Mixed Views on Hotel REITs'); document.writeln('

'); document.writeln('

Stocks of real-estate investment trusts that own hotels staged a sharp rebound late last year. Whether that heady performance is warranted is subject to debate.

'); document.writeln('

'); document.writeln(' Hotel Industry Leading Indicator shows promise'); document.writeln('

'); document.writeln('

HIL went up 1.4 percent in November - the eighth consecutive month of increase for the indicator.

'); document.writeln('

'); document.writeln(' Options for a nonperforming hotel with CMBS debt'); document.writeln('

'); document.writeln('

Discounted payoffs, note sales, short sales and rescue capital are strategies that can help a borrower retain control of a hotel.

'); document.writeln('

'); document.writeln(' Dealing with lenders? Bring patience, realism and a checkbook'); document.writeln('

'); document.writeln('

Dealing with your lender in today’s economic climate is like undergoing a personality critique with a particularly blunt self-help guru: You might not like what either tells you, but you’ll be better off because of it.

'); document.writeln('

'); document.writeln(' Hotel delinquencies are now the largest proportion of delinquent loans'); document.writeln('

'); document.writeln('

Nine of the top 20 Fitch-rated specially serviced loans by dollar balance are collateralized by hotels or have a hotel component.

'); document.writeln('

'); document.writeln(' STR reports US performance for week ending 14 November 2009'); document.writeln('

'); document.writeln('

In year-over-year measurements, the industry’s occupancy fell 6.4 percent to 52.6 percent, ADR dropped 9.9 percent to US$95.86, and RevPAR decreased 15.7 percent to finish at US$50.47.

'); document.writeln('

'); document.writeln(' Marriott CEO Sees Start of Hospitality Industry Recovery'); document.writeln('

'); document.writeln('

Bill Marriott, the chief executive of hotel giant Marriott International, said Thursday the hospitality industry is just beginning to see tentative signs of an economic recovery.

'); document.writeln('

'); document.writeln(' New STR hotel forecast: 2011 can’t get here too soon'); document.writeln('

'); document.writeln('

Signs of a recovery for the U.S. hotel industry might be few and far between as 2009 creeps to a close, but executives at Smith Travel Research think there’s reason for optimism in the future.

'); document.writeln('

'); document.writeln(' Special servicers, lenders work it out'); document.writeln('

'); document.writeln('

While many industry segments are shrinking in the face of operational belt-tightening, layoffs and other recession-related efficiencies, lenders and special servicers are experiencing a wave of new business as they deal with the intricacies of loan workouts.

'); document.writeln('

'); document.writeln(' Worst days of hotel downturn have likely passed'); document.writeln('

'); document.writeln('

Demand in the lodging industry has started to trend upward and the worst days of the downturn are likely over, said Smith Travel Research president Mark V. Lomanno at last weekend\'s AHLA Fall Conference in New York.

'); document.writeln('

'); document.writeln(' Hundreds of Holiday Inns could lose brand affiliation'); document.writeln('

'); document.writeln('

Intercontinental Prepares to Sever Ties With Properties That Fail to Renovate as Part of Overhaul

'); document.writeln('

'); document.writeln(' ‘Extend and pretend’ will be bad in the end'); document.writeln('

'); document.writeln('

... and the end is 26 months from now. The Fed and most lenders are driving commercial real estate into a box canyon.

'); document.writeln('

'); document.writeln(' 20 predictions for real estate and the economy '); document.writeln('

'); document.writeln('

Here are some thoughts from a recent major real-estate conference on where the industry and economy are headed

'); document.writeln('

'); document.writeln(' Strategic sells Four Seasons Mexico City for cost of the land'); document.writeln('

'); document.writeln('

Strategic Hotels & Resorts announced it closed on its disposition of the Four Seasons Mexico City hotel to an affiliate of Meridia Capital for US$54.0 million.

'); document.writeln('

'); document.writeln(' Five options for a nonperforming hotel with CMBS debt'); document.writeln('

'); document.writeln('

Despite hurdles, it’s possible to restructure a CMBS loan. There are several types of modifications that have been done recently.

'); document.writeln('

'); document.writeln(' The supply-growth effect'); document.writeln('

'); document.writeln('

A demand recovery has begun in some segments. Can you guess which ones?

'); document.writeln('

'); document.writeln(' Choice’s stand delivers the story of the year'); document.writeln('

'); document.writeln('

The third-party Internet site relationship has always been love-hate for hotel owners and operators. The rift between Expedia and Choice is one that will define industry protocols for years to come

'); document.writeln('

'); document.writeln(' Big Brands Bringing More'); document.writeln('

'); document.writeln('

Major hotel companies are raft with ideas to help their franchisees succeed. Here’s what some are doing to counter the negative economy.

'); document.writeln('

'); document.writeln(' What a Difference a Half Decade Makes'); document.writeln('

'); document.writeln('

The extended industry contraction that began in mid 2008 continues through the third quarter of 2009.

'); document.writeln('

'); document.writeln(' Budget Review 2010'); document.writeln('

'); document.writeln('

There is an old adage, “Past behavior is the best predictor of future performance”.

'); document.writeln('

'); document.writeln(' Index shows 17% decline in average price of hotel rooms worldwide'); document.writeln('

'); document.writeln('

An index based on online hotel bookings found that the overall average price of a hotel room worldwide fell 17% in the first half of 2009 compared with the same period the previous year.

'); document.writeln('

'); document.writeln(' Chapter 11 considerations for hotel owners'); document.writeln('

'); document.writeln('

Hotel owners are not particularly good at dealing with a hotel that becomes financially distressed. Here are points to ponder when deciding whether or not to file for bankruptcy.

'); document.writeln('

'); document.writeln(' PwC predicts increase in hotel occupancy'); document.writeln('

'); document.writeln('

An updated forecast from PricewaterhouseCoopers predicts that hotel occupancy will rise late this year and into next year and rates will remain discounted to attract travelers.

'); document.writeln('

'); document.writeln(' What the HIL? A new leading indicator for the hotel industry'); document.writeln('

'); document.writeln('

The Hotel Industry Leading indicator can be used in the present to gain a better understanding of where the industry is headed.

'); document.writeln('

'); document.writeln(' Pricing to Profit'); document.writeln('

'); document.writeln('

As hotel operators dig deep into discounting trenches, the biggest question remains how the industry will regain control of its rates.

'); document.writeln('

'); document.writeln(' What to do if your loan is scheduled to mature in the next six months'); document.writeln('

'); document.writeln('

As the capital markets completely dried up during the past year and borrowers had no other options, special servicers had no choice but to foreclose on an otherwise good borrower or offer some sort of extension. Now they’re granting extensions regularly.

'); document.writeln('

'); document.writeln(' Ouch! Pinch could tighten before grip loosens'); document.writeln('

'); document.writeln('

While recent signs point to positive things ahead, there’s going to be plenty of bumps on the road to recovery, company presidents told Memphis gathering.

'); document.writeln('

'); document.writeln(' The recession is over? Somebody should tell that to hotels'); document.writeln('

'); document.writeln('

Headlines are declaring we\'re out of the recession. But demand numbers throughout the world are pointing toward a different conclusion.

'); document.writeln('

'); document.writeln(' Hotels in Construction Cycle Peak '); document.writeln('

'); document.writeln('

At this week\'s BITAC, the new construction pipeline was examined for new openings and project cancellations.

'); document.writeln('

'); document.writeln(' Starwood slashes rates by as much as half to bring in business'); document.writeln('

'); document.writeln('

Starwood Hotels & Resorts is upping the ante on efforts to bring in guests during the economic slump, offering rate discounts of as much as 50% at nearly 600 of its properties around the world.

'); document.writeln('

'); document.writeln(' The distressed debt conundrum'); document.writeln('

'); document.writeln('

Everyone expected floods of distressed debt and foreclosed commercial real-estate properties coming to market as well as many bankruptcies. Here are the facts.

'); document.writeln('

'); document.writeln(' Hotel loan defaults soar as downturn takes its toll'); document.writeln('

'); document.writeln('

As hotels continue to struggle in the economic downturn, defaults on hotel loans are expected to increase by as much as $2 billion in the next quarter, and as many as 1 in 5 in the U.S. may default on loans through 2010, experts say. One credit-rating firm predicts that a full third of the $8.6 billion in securities backed by hotel loans that are due in 2010 are at risk of defaulting.

'); document.writeln('

'); document.writeln(' Times have changed'); document.writeln('

'); document.writeln('

A recap of the most common types of commercial real-estate loans made during the past 10 years.

'); document.writeln('

'); document.writeln(' Cornell Study Finds that Lower Hotel Prices Cost Hotels Money in Good Times and Bad'); document.writeln('

'); document.writeln('

When close competitors cut their prices, the temptation for hotel operators is to follow with reductions of their own. While that strategy may increase occupancy, it reduces revenue per average room (RevPAR), when compared to a hotel’s competitive group.

'); document.writeln('

'); document.writeln(' Marriott, Starwood need 4 years to restore rates'); document.writeln('

'); document.writeln('

Marriott International and Starwood Hotels & Resorts Worldwide are among U.S. hotel operators that may need four years to restore room rates to 2008 levels after slashing prices to spur demand.

'); document.writeln('

'); document.writeln(' Management disputes on the rise'); document.writeln('

'); document.writeln('

The economic recession has caused an increase in the number of management disputes. Both sides need to work together to improve underperforming properties.

'); document.writeln('

'); document.writeln(' Cornell Roundtable Highlights Contrasting Perspectives on Management Contracts'); document.writeln('

'); document.writeln('

Performance Challenges Trigger Owner, Manager, and Lender Issues

'); document.writeln('

'); document.writeln(' Times are tough for the industry\'s financial leaders. Here\'s what they\'re doing to survive while they plan to thrive.'); document.writeln('

'); document.writeln('

It’s no secret times are tough. Truth is, even the most seasoned professionals are experiencing plenty of angst these days. And it’s especially true for those tasked with keeping track of all that cash coming into and going out of lodging company coffers.

'); document.writeln('

'); document.writeln(' NYU: By the numbers'); document.writeln('

'); document.writeln('

Hotel industry data analysts Mark Lomanno and Steve Rushmore give sobering statistics about hotel performance and value.

'); document.writeln('

'); document.writeln(' Refinancing a hotel near the cycle bottom: 10 things to keep in mind'); document.writeln('

'); document.writeln('

Jack Welch was right when he said this recession provides opportunities in the hotel segment; it\'s up to investors to approach it wisely.

'); document.writeln('

'); document.writeln(' Hotel conversions: Will this be the next trend?'); document.writeln('

'); document.writeln('

As 2009 progresses and lending begins to return, hotel conversions likely will be a predominant topic of discussions among industry leaders. STR will continue to watch conversion trends and report on any new data findings.

'); document.writeln('

'); document.writeln(' Six things to consider before approaching lenders'); document.writeln('

'); document.writeln('

Hoteliers should consider six factors before approaching lenders to modify loans.

'); document.writeln('

'); document.writeln(' New asset-disposition landscape emerges'); document.writeln('

'); document.writeln('

AAHOA panelists urge hoteliers considering selling their properties to do so soon, because waiting will be costly.

'); document.writeln('

'); document.writeln(' Not All Hotels Will Survive Until an Economic Recovery Occurs'); document.writeln('

'); document.writeln('

When lenders finally resume making hotel loans, most will be earmarked for the purchase of existing real estate, not new development - good news for hotel operators because equilibrium will be created between supply and demand.

'); document.writeln('

'); document.writeln(' How to buy distressed assets'); document.writeln('

'); document.writeln('

There is no penalty for waiting for the right acquisition as discounts on hotel values continue grow. Hotels have a 40-percent decline in value from their 2007 underwriting.

'); document.writeln('

'); document.writeln(' CMBS loans: a history and the future'); document.writeln('

'); document.writeln('

The hotel industry should learn from the financial crisis. Lending, which has changed significantly, will be slow to return to volumes of the past.

'); document.writeln('

'); document.writeln(' Opportunity knocks'); document.writeln('

'); document.writeln('

Hotel developers are poised to take advantage of stalled residential projects.

'); document.writeln('

'); document.writeln(' Another reality check'); document.writeln('

'); document.writeln('

The hotel industry’s development pipeline is viewed through rose-colored glasses too often, but the simple fact is there are few—if any—projects being funded.

'); document.writeln('

'); document.writeln(' An Inkling of Hope'); document.writeln('

'); document.writeln('

The first indications that business travelers think getting back on the road is a good idea has been confirmed. Here is the scoop.

'); document.writeln('

'); document.writeln(' MGM Mirage: Default on debt may come soon'); document.writeln('

'); document.writeln('

The casino company says it will breach financial covenants if adverse conditions in the economy and gaming industry continue.

'); document.writeln('

'); document.writeln(' How to deal (now) with a lender, servicer'); document.writeln('

'); document.writeln('

Before default, go to your lender or servicer and try to get their attention to talk to you. Assume the worst and protect yourself.

'); document.writeln('

'); document.writeln(' Ten trends affecting business travel in 2009'); document.writeln('

'); document.writeln('

Here are 10 trends caused by the global economic meltdown, and what they will mean for business travelers in 2009.

'); document.writeln('