2013 DALLAS HOTEL CONFERENCE
Omni Dallas Hotel, Downtown Dallas
Welcome Remarks and Introduction
Cliff Risman, Partner, Gardere Wynne Sewell LLP
3 p.m.
Market Update
Presenter:
Dan Lesser, President and CEO, LW Hospitality Advisors LLC
The Capital Markets: Where are we in the cycle?
Moderator:
Chuck Bedsole, Managing Director, Alvarez & Marsal Real Estate Advisory Services LLC
Panelists:
Monty J. Bennett, Founder, Chairman and CEO, Ashford Hospitality Trust
John Bourret, Managing Director, HFF
Tom Corcoran, Chairman of the Board, FelCor Lodging Trust
Jonathan Wang, Managing Director, Northwood Investors
Transaction of the Year Award
Presenter:
Mike Rawlings, Mayor, City of Dallas
Security and Safety in the Hospitality Industry
Presenter:
Brad Bonnell, Vice President of Loss Prevention, Extended Stay America
The Perspective of the Major Brands
Moderator:
Dave Johnson, President and CEO, Aimbridge Hospitality L.P.
Panelists:
Jim Chu, Senior Vice President, Hyatt Hotels Corporation
Mike Deitemeyer, President, Omni Hotels & Resorts
G. Randle McCaslin, Vice President and Practice, PKF Consulting USA
Thomas D. Papelian, Senior Vice President, Marriott International, Inc.
Allison Reid, Senior Vice President, Starwood Hotels & Resorts Worldwide Inc.
Closing Remarks and Thanks
Cindy Nelson, Partner, Gardere Wynne Sewell LLP
Cocktails and Network Reception
Adjourn at 7 p.m.
Visit dallashotelconference.com for this handout, final presentations and photos
from the conference as well as previous years program, presentations and photos.
Visit dallashotelconference.com for this handout, final presentations and photos
from the conference as well as previous years program, presentations and photos.
Visit dallashotelconference.com for this handout, final presentations and photos
from the conference as well as previous years program, presentations and photos.
Visit dallashotelconference.com for this handout, final presentations and photos
from the conference as well as previous years program, presentations and photos.
Visit dallashotelconference.com for this handout, final presentations and photos
from the conference as well as previous years program, presentations and photos.
2013 DALLAS HOTEL CONFERENCE
Panelists and Presenters
Chuck Bedsole
Managing Director
Alvarez & Marsal Real Estate Advisory Services LLC
As founder and global leader of A&M’s Hospitality and Leisure Advisory Services
Group, Mr. Bedsole has more than 31 years of industry experience, including eight
years with Big Four professional service firms and five years of corporate-level
experience with hospitality companies in the areas of acquisitions, development,
finance and marketing. He has substantial domestic and international experience with various hospitality
asset types including hotels, mixed-use resort developments, hotel condominiums, interval ownership,
all-inclusive resorts and marinas. He also has significant experience with residential, commercial and
industrial projects in Latin America.
Mr. Bedsole's advisory experience includes strategic planning, asset management, due diligence, feasibility,
valuation, marketing and financing engagements for multinational companies, capital sources, developers,
financial institutions and governments in major markets in the United States, Caribbean, Europe and Latin
America.
Monty J. Bennett
Founder, Chairman and CEO
Ashford Hospitality Trust
Mr. Bennett serves as founder, chairman and chief executive officer of Ashford
Hospitality Trust, a REIT formed in August 2003. Ashford focuses exclusively on
hospitality industry investments across all segments and at all levels of the capital
structure, including direct hotel investments, first mortgages, mezzanine loans and
sale-leaseback transactions. Ashford went public with six hotels valued at $130 million. Today, Ashford has
over $4 billion in assets and has outperformed its peers in total shareholder return since its IPO.
Mr. Bennett is a member of the American Hotel and Lodging Association's Industry Real Estate Finance
Advisory Council, the Urban Land Institute's Hotel Council and is on the Advisory Editorial Board for
GlobalHotelNetwork.com. He is also a member of the CEO Fiscal Leadership Council for Fix the Debt, a
nonpartisan group dedicated to reducing the nation's federal debt level, and on the advisory board of Texans
for Education Reform.
Mr. Bennett holds an MBA from Cornell’s S.C. Johnson Graduate School of Management and received a B.S.
with distinction from the Cornell School of Hotel Administration.
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from the conference as well as previous years program, presentations and photos.
Brad Bonnell
Vice President of Loss Prevention
Extended Stay America
At Extended Stay America, Brad Bonnell is primarily responsible for the development
and execution of its fraud risk management program. He previously served as global
director of security for the InterContinental Hotels Group. In his approximately 20
years with IHG, Mr. Bonnell was responsible for protecting the business and its
reputation from all threats, including terrorism, organized crime and fraud. His law enforcement career
includes service as chief of staff for the Georgia State Patrol, special agent for the Georgia Bureau of
Investigation and special agent for the U.S. Army Criminal Investigation Command. Mr. Bonnell graduated
from Florida State University, where he earned a B.S. in criminology. He is the 2013 recipient of
HospitalityLawyer.com’s Tom G. Davis Loss Prevention Lifetime Achievement Award.
John Bourret
Managing Director
HFF
John Bourret is Managing Director in the Dallas office of HFF (Holliday Fenoglio Fowler, L.P.),
and is primarily responsible for institutional hotel and resort property transactions across North
America. Mr. Bourret joined HFF in early 2006 and specializes in all areas of hotel commercial
real estate finance including asset dispositions, partnership creation and recapitalization and
debt transactions. He has been with HFF for seven years and has been involved in more than $3.5 billion of commercial
property transactions during his career.
Throughout his career he has worked for and represented some of the most well respected real estate companies
including: The Blackstone Group, Apollo Global Management, Garrison Investment Group, RLJ Lodging Trust,
Aimbridge Hospitality, Bank of America, Morgan Stanley and Wells Fargo.
Various 2013 transactions include the refinance of a 17-property hotel portfolio for The Blackstone Group, acquisition
financing for a 6-property hotel portfolio for Omni/TRT Holdings, and the sale of a 3-property Marriott Hotel Portfolio for
HEI Hotels. Current regional assignments include the sale of the Horseshoe Bay Resort, the sale of the DoubleTree
Campbell Centre and the financing of the Hilton DFW Lakes.
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from the conference as well as previous years program, presentations and photos.
Jim Chu
Senior Vice President
Hyatt Hotels Corporation
Jim Chu serves as senior vice president of franchise and owner relations for Hyatt
Hotels Corporation. In this role, he oversees the franchise field team, supporting
franchise owners and operators for all franchise hotels. Mr. Chu’s group serves as the
main liaison between franchisees and third-party owners. His primary responsibilities
are oversight of brand relations and support to third-party owners and franchisees, as well as negotiating
franchise and management agreements. Mr. Chu also oversees the development administration for North
America and FTC and regulatory aspects for Hyatt Development.
Prior to joining Hyatt, Mr. Chu served various roles with Wyndham International, including general manager,
regional vice president and senior vice president. Most recently, he managed new business development
activity, including Wyndham Timeshare/Vacation Ownership operations and development.
Mr. Chu received his B.S. in finance from Corpus Christi State University. He is actively involved with several
American Hotel and Lodging Association committees.
Tom Corcoran
Chairman of the Board
FelCor Lodging Trust
Tom Corcoran co-founded FelCor in 1991 and served as president and CEO since its
formation until his appointment to chairman of the board in 2006. Mr. Corcoran has
more than 30 years of experience in the hospitality industry. After serving as
independent board member since December 2010, Mr. Corcoran was appointed
chairman of the board of Sammons Enterprises. Other board appointments include: past chairman of the
American Hotel and Lodging Association and past chairman of the IHG Owners Association. His management
experience in the lodging and food service industries began with Brock Hotel Corp. in Topeka, Kansas. During
his 11 years with Brock, Mr. Corcoran's roles in the company included president and chief executive officer
and a member of the board of directors of Chuck E. Cheese Entertainment Inc.
Visit dallashotelconference.com for this handout, final presentations and photos
from the conference as well as previous years program, presentations and photos.
Mike Deitemeyer
President
Omni Hotels & Resorts
Mike Deitemeyer is the president of Omni Hotels & Resorts, which offers luxury
accommodations at 58 hotels and resorts in leading business gateways and leisure
destinations across North America. Since his appointment in 2004, Mr. Deitemeyer
has established the company as a leading luxury hotel brand known for delivering
superior quality, award-winning service and exceptional guest experiences. Under his leadership, the brand
portfolio has expanded to include a growing luxury resort and convention hotel collection, and most recently,
the addition of five iconic luxury resorts including The Omni Homestead Resort in Hot Springs, Va., and The
Omni Grove Park Inn in Asheville, N.C.
Omni Hotels has been ranked “Highest in Guest Satisfaction Among Upper Upscale Hotel Chains” in the J.D.
Power and Associates North America Hotel Guest Satisfaction StudySM five times since 2000. Mr. Deitemeyer
also serves on the board of directors for the Global Hotel Alliance. He earned a degree in business from
Fitchburg State University in Massachusetts.
Dave Johnson
President and CEO
Aimbridge Hospitality L.P.
Dave Johnson is president and CEO of Aimbridge Hospitality L.P. Mr. Johnson
oversees the management of Aimbridge’s entire portfolio consisting of over 80 hotels
and $500 million in annual revenue. Prior to joining Aimbridge, he spent 17 years at
Wyndham International helping them grow from 10 hotels to over 200 at the time of
his departure. He received his bachelor’s degree from Northeastern Illinois University in Business Economics,
graduating with highest honors.
Mr. Johnson currently serves on several boards of directors including: Gaylord Entertainment, The Juvenile
Diabetes Research Foundation International, Meeting Professionals International, and Active International.
Mr. Johnson serves on the Hilton Owners Council, is chairman of the Doubletree Brand Advisory Board and
was most recently named to Starwood’s Real Estate Development Advisory Board. In 2003, he was named
as one of the 25 Most Extraordinary Minds in Hospitality Sales & Marketing by HSMAI.
Visit dallashotelconference.com for this handout, final presentations and photos
from the conference as well as previous years program, presentations and photos.
Dan Lesser
President and CEO
LW Hospitality Advisors LLC
Dan Lesser has more than 30 years of expertise in a wide range of hospitality
operational, investment counseling, valuation, advisory and transactional services.
Prior to founding LW Hospitality Advisors, he created and served as senior managing
director - industry leader of the Hospitality & Gaming Valuation Advisory Services
Group at CB Richard Ellis Hotels. Prior to joining CBRE, Mr. Lesser founded and led the Hospitality & Gaming
Group at Cushman & Wakefield and was a founding member of the team at HVS International. Mr. Lesser has
held operational and administrative positions with Hilton Hotels Corp. and Eurotels-Switzerland. He is a
graduate of the School of Hotel Administration at Cornell University and also attended the Ecole hôtelière
Lausanne. Mr. Lesser is widely published and quoted, and highly sought after to speak at lodging and real
estate events as well as lectures at prestigious institutions of higher education.
G. Randle McCaslin, CRE
Vice President and Practice Leader
PKF Consulting USA
Randy McCaslin is the Vice President and Practice Leader in the Houston office of
PKF Consulting USA, which is responsible for the Texas and Louisiana practice. His
expertise includes market and financial feasibility and appraisal analysis for hotel,
resort, convention center, museum and other hospitality related developments. He
has also been the asset manager for several upscale, full-service hotels.
Mr. McCaslin has more than 30 years of experience in the hospitality industry; 20 years in consulting and 10
years in operations. He earned his BA from the University of Texas at Austin and his Masters of Business
Administration (MBA) from the University of Houston. He also completed numerous courses at the University
of Houston Conrad Hilton College of Hotel & Restaurant Management, where he was recently awarded
Honorary Alumni status. Randy is currently the President of the Alumni Board at the UH Hilton College.
Visit dallashotelconference.com for this handout, final presentations and photos
from the conference as well as previous years program, presentations and photos.
Cynthia Nelson
Partner
Gardere Wynne Sewell LLP
Cynthia Brotman Nelson practices in the Gardere Real Estate Practice Group and is
on the Hospitality Industry Team. She has vast experience in sophisticated and
complex real estate and finance transactions, including representing owners, REITs,
opportunity funds and developers in acquiring, disposing, leasing, financing and
managing significant and/or high-profile commercial enterprises such as shopping centers, multi- and singlefamily housing developments, hotels and mixed-use developments, office buildings, industrial properties and
unimproved land with particular emphasis on lodging properties.
Ms. Nelson's representation includes senior and mezzanine financing, complex workout and debt restructure,
joint ventures, management agreements, franchise agreements, buying, selling, developing and ground
leasing of all types of real estate products including hotels, mixed-use developments, and fractional and time
share products. She also assists investors with recapitalization of distressed borrowers and purchasers of
troubled assets. Ms. Nelson's practice is both domestic and foreign.
Thomas D. Papelian
Senior Vice President
Marriott International, Inc.
Tom Papelian is responsible for Marriott International’s development efforts and
strategies throughout the South Region focusing on the company’s full-service
brands including Marriott Hotels & Resorts, Renaissance Hotels & Resorts, Marriott
Conference Centers, Autograph Collection and Ritz-Carlton Hotels and Resorts.
Mr. Papelian has 28 years' experience in the lodging industry with emphasis on hotel development and
transactions. Since joining Marriott in 2005, Mr. Papelian has been responsible for several successful
development projects involving public-private transactions, mixed-use developments, hotels, resorts and
conference center hotels.
Mr. Papelian began his career at Laventhol & Horwath and its international affiliate, Horwath & Horwath. He
later was Director of Real Estate for The Ritz-Carlton Hotel Company where he had responsibility for
international hotel development. He was a vice president at PKF Consulting and then a principal of The
Camberley Hotel Company, where he was responsible for the growth and development of a portfolio of
unique, luxury hotels. Immediately prior to joining Marriott, Mr. Papelian worked with a national hotel
brokerage firm.
Visit dallashotelconference.com for this handout, final presentations and photos
from the conference as well as previous years program, presentations and photos.
Mike Rawlings
Mayor
City of Dallas
Mayor Mike Rawlings is working to improve the quality of life in Dallas. He has
introduced a development plan for southern Dallas, taken a hands-on approach to
improving education and created new strategies for growing the arts.
GrowSouth, Mayor Rawlings’ comprehensive strategy to boost the economic impact of southern Dallas, has
already been a catalyst for new economic investment, job creation and public-private partnerships. To
leverage new assets in our Arts District, he formed the Mayor’s Business Arts Initiative, drawing corporate
participation in the nation’s largest urban arts district. Mr. Rawlings also presided over the passage of $600
million in new city bonds to fund streets, flood protection and economic development.
Mayor Rawlings formerly served as CEO of TracyLocke. Later, he grew the world’s largest pizza company to
record sales. Most recently, Mayor Rawlings served as managing partner of CIC Partners, growing small and
mid-sized businesses in Dallas, and across the country.
Allison Reid
Senior Vice President
Starwood Hotels & Resorts Worldwide Inc.
Allison Reid is senior vice president of development and acquisitions North America
for Starwood Hotels & Resorts Worldwide Inc. Starwood has a portfolio of nine
distinctive brands — St. Regis, The Luxury Collection, W Hotels, Westin, Sheraton,
Four Points by Sheraton, Le Méridien, Aloft and Element — and is the world’s largest
luxury hotel operator. Ms. Reid joined the company in 2000 and oversees managed and franchised
development for all nine Starwood brands. She reports directly to Simon Turner, president of global
development, and is a member of the North America Senior Leadership Team.
A seasoned business leader with more than 20 years of experience in the hospitality industry, Ms. Reid has
spent the last 10+ years in leadership roles in real estate, development, finance, operations and
branding. Prior to Starwood, she spent six years at Interstate Hotels & Resorts Worldwide in various finance
and regional roles. Ms. Reid began her career with ITT Sheraton, as a corporate trainee at the St. Regis New
York.
Visit dallashotelconference.com for this handout, final presentations and photos
from the conference as well as previous years program, presentations and photos.
Cliff Risman
Partner
Gardere Wynne Sewell LLP
Cliff Risman chairs Gardere’s Hospitality Industry Team and has a comprehensive
business and real estate practice with particular emphasis on the global hospitality
industry. He advises clients in the development, acquisition, financing and operation
of hotel, resort and mixed-use properties throughout the United States and
internationally; the structuring of domestic and foreign equity investments and formation of equity investment
entities; the negotiation of management, franchise, development and design agreements; the structuring,
development and marketing of whole and fractional residential ownership products and related rental program
arrangements; and the structuring of management, license, use and access agreements for golf, spa and
residential projects. Mr. Risman regularly publishes and speaks on hospitality, real estate and finance topics,
is a member of the prestigious by invitation only International Society of Hospitality Consultants and is ranked
by Chambers and Partners for Leisure & Hospitality [Nationwide].
Jonathan Wang
Managing Director
Northwood Investors
Jonathan Wang is responsible for sourcing and executing real estate equity and debt
investment opportunities within the hospitality sector. Prior to joining Northwood
Investors, Mr. Wang was an associate at Goldman Sachs in the Real Estate Principal
Investment Area. At Goldman Sachs, Mr. Wang concentrated on evaluating potential
acquisitions for the Whitehall real estate funds where he focused primarily on hospitality, gaming,
development and mezzanine financing opportunities. In this capacity, Mr. Wang helped execute more than $6
billion of total real estate transaction value for the Whitehall real estate funds. Mr. Wang received a B.B.A
from the University of Michigan Business School.
Visit dallashotelconference.com for this handout, final presentations and photos
from the conference as well as previous years program, presentations and photos.