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HOTEL DEVELOPMENT UPDATE 2012 Trends, Segments, Investment and Opportunities Tuesday, May 8, 2012 8:00 A.M

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HOTEL DEVELOPMENT UPDATE 2012 Trends, Segments, Investment and Opportunities Tuesday, May 8, 2012 8:00 A.M THE GREATER NEW YORK CONSTRUCTION USER COUNCIL PRESENTS HOTEL DEVELOPMENT UPDATE 2012 Trends, Segments, Investment and Opportunities Tuesday, May 8, 2012 8:00 a.m. to 10:00 a.m. A seminar for public, private and institutional real estate owners 8:00 - 8:30 Continental Breakfast 8:30 - 10:00 Discussion; Questions and Answers The Westin New York at Times Square 270 West 43rd Street, 2nd Floor (Ambassador 3) New York, NY 10036 CREATIVE ENVIRONMENT Sponsored by SOLUTIONS CORP Join the Greater New York Construction User Council [GNYCUC] and the major trendsetters in New York City’s robust hotel development economy. The program will be lead by moderator, Dr. Bjorn Hanson, Dean of the Preston Robert Tisch Center for Hospitality, Tourism and Sports Management at NYU, and panelists Roland de Milleret, Managing Partner at HVS Global Hospitality Services, Suril Shah, Vice President, Acquisitions Group, David Rothenberg, President of Tishman Hotel Corporation, Ian Schrager, Founder and Chairman of Ian Schrager Company. Our panelists will provide an industry perspective on the latest trends in hotel development in the New York City metropolitan area and beyond. WHO SHOULD ATTEND: Council members in hospitality, healthcare, commercial real estate, be sold for approximately $400 million, or $445,000 per key…. education, public sector construction as well as other real estate Meanwhile as hotels in Manhattan continue to be sold in the price developers will benefit from this program, as lessons learned from range of $450,000 per key, properties in Atlantic City are being challenges faced in the hotel industry are interchangeable. sold at bargain basement prices.” The program will be presented by industry leaders in each of the hotel segments, the leading THE PROGRAM: The panelists will look at the various segments hospitality industry forecasters and executives whose goal will be to of the hotel industry and examine the question of which segments provide their view on what creates value and to look at the trends will make the best investment and how to forecast. As real estate that support development. What do banks and Wall Street investors commentator, Michael Stoler, observed recently, “Earlier in June, think? Who is lending and who is investing? Why does New York 2011, the 889 room Helmsley Palace entered into a contract to City remain America’s best performing market? Can this continue? MODERATOR BJORN HANSON | DIVISIONAL DEAN AND CLINICAL PROFESSOR | PRESTON ROBERT TISCH CENTER FOR HOSPITALITY, TOURISM, AND SPORTS MANAGEMENT. Bjorn Hanson is Divisional Dean and Clinical Professor for the Preston Robert Tisch Center for Hospitality, Tourism, and Sports Management and is one of the most cited hospitality industry executives. Hanson founded PricewaterhouseCoopers’ Hospitality & Leisure practice and held positions including: Global Industry Chairman – Hospitality & Leisure, Global Industry Chairman – Real Estate and served on the company’s U.S. Leadership Committee. He has received numerous honors including: One of the 33 Most Influential People in the Travel Industry, Travel Weekly; One of the 25 Most Influential People in the Meetings Industry, Meeting News; One of the Lodging Industry’s 75 Leaders, AH&LA Profiles in Leadership; Cornell’s Hotelier of the Year; and One of the Lodging Industry’s Innovators, Lodging/AH&LA. SPEAKERS ROLAND DE MILLERET | MANAGING DIRECTOR | HVS GLOBAL HOSPITALITY SERVICES Roland de Milleret is Managing Director of the New York office. Since joining HVS in January of 1999, he has provided consulting and appraisal services to over 1,400 hotels; in the United States, Mexico, and the Caribbean. His industry expertise includes market studies, feasibility analysis, appraisals, development consulting, and negotiation of management agreements. De Milleret specializes in the Manhattan lodging market and has worked on most of the hotels in that market. De Milleret is a Designated Member of the Appraisal Institute (MAI) and a state certified general appraiser in New York State. He is an adjunct professor at NYU School of Continuing and Professional Education where he taught a course on hotel development each spring semester from 2007 through 2009. JEFF DVORETT | VICE PRESIDENT | EXTELL DEVELOPMENT COMPANY Jeff Dvorett is a Vice President for Development at Extell Development Company, one of the most active developers in New York. Mr. Dvorett is responsible for the planning, development, management and sales for select new developments. Since joining Extell in 2006, Mr. Dvorett has managed the development of over one million square feet of mixed used and hospitality projects including the Hyatt Times Square and ONE57, slated to be the tallest residential building in New York. ONE57 will feature 95 ultra-luxury residences above a 210 key Park Hyatt Hotel. Mr. Dvorett received an MBA from Harvard Business School and BS in Industrial Engineering and Management Science from Northwestern University. DAVID ROTHENBERG | PRESIDENT | TISHMAN REALTY CORPORATION As President for Tishman Realty Corporation, Rothenberg is responsible for the sourcing, feasibility, financial and legal aspects of Tishman’s principal real estate activities; interfacing with investors, sellers and lenders; overseeing structuring and documentation; promoting partnership relationships; and developing new real estate opportunities. Rothenberg joined Tishman in 1987 and has overseen such projects as the development of the Walt Disney World Swan and Dolphin Hotel and Convention Complex and the Rio Mar Beach Resort & Spa, a Wyndham Grand Resort. Most recently, Rothenberg spearheaded the development, financing and construction of Tishman’s newest project, the 600-room Intercontinental Hotel at Times Square. He was also responsible for the acquisition and financing of the 424-room Westin Chicago River North. Rothenberg is a member of the New York Hospitality Council and the Urban Land Institute. IAN SCHRAGER | FOUNDER AND CHAIRMAN | IAN SCHRAGER COMPANY Since the 1970’s, entrepreneur Ian Schrager, Founder and Chairman of Ian Schrager Company, has achieved international recognition for concepts that have revolutionized the entertainment, residential and hospitality industries. His passionate commitment to the modern lifestyle has been expressed through a series of pioneering concepts: The hotel as home away from home, the hotel as theater, “cheap chic,” “lobby socializing,” the indoor/outdoor lobby, the urban resort and the urban spa. Schrager and his late business partner, Steve Rubell, created the legendary Studio 54 and Palladium nightclubs and soon turned their attention to the hotel business, opening Morgans Hotel in 1984 and introducing the concept of the boutique hotel to the world. Following this were the equally well received and highly successful Royalton Hotel and Paramount Hotel, the Delano Hotel in Miami, Mondrian Hotel in West Hollywood and the Hudson Hotel in New York. Schrager has expanded to cities such as San Francisco with the Clift Hotel and London with St. Martins Lane Hotel and the Sanderson Hotel. He is currently working on two new hotel brands. The first brand, PUBLIC, is a new genre of hotel offering great value, great service and great style that will set a new industry standard. The second brand, yet to be announced, will be a new kind of luxury brand for modern people. SURIL SHAH | VICE PRESIDENT | ACQUISITIONS GROUP, STARWOOD CAPITAL Suril Shah is a Vice President in the Acquisitions Group at Starwood Capital Group. Shah is responsible for originating, structuring, underwriting and closing investments in the lodging and gaming sectors. Shah is an integral member of Starwood Capital’s hotel acquisitions team, which has invested in over $7 billion of hotel assets during the past six years. Shah joined Starwood Capital in 2005 and spent three years as a member of the management team of Groupe du Louvre, which owns, manages and franchises more than 1,000 hotels throughout Europe under the Campanile, Premiere Classe and Kyriad flags in addition to over a dozen luxury hotels including the Hotel de Crillon and Hotel Martinez. Prior to joining Starwood, Shah was with Gleacher Partners in New York City, where he focused on mergers and acquisitions across all industries. Shah received a BS in Management Science & Engineering from Stanford University. ABOUT THE GREATER NEW YORK CONSTRUCTION USER COUNCIL The Greater New York Construction User Council (GNYCUC) advances the practical needs of owners and users of construction and construction-related services in New York through an understanding of construction policy, methodology and technology. Our goals are: • To promote cost-effective and safe construction • To encourage a higher level of professionalism in project management • To provide a key forum to discuss issues, policies and laws affecting the construction industry • To better understand new technology and new initiatives in sustainable construction Corporate Participation. Membership is on a company, rather than personal basis, which allows for broader participation. WHEN: Register Today! Fax Reservation Form to (212) 450-7301, Tuesday, May 8, 2012 Contact Joel Park at (212) 450-7300 or via e-mail at WHERE: [email protected] The Westin New York at Times Square 270 West 43rd Street, 2nd Floor ❑ New York, NY 10036 Number of Tickets x $150. = $ ________________________ HOW MUCH: ❑ Number of Tables x $1,000. = $ ________________________ TICKET: $150 ❑ Program Sponsor x $1,500. = $ ________________________ (Includes Continental Breakfast)
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