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Archive for July, 2013

Extended Stay IPO. Can Hilton Be Far Behind?

Blackstone is making a market with an Extended Stay share offering of 10%-20% of the company’s value. (The was known in the late 80′s as “The Burlington Model” after the practice created by my then-employer, Burlington Northern Inc.  Very smart Seattle-based finance guys who created enormous value for our shareholders.)  The next shoe to drop, of [...]

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Expect Strong Results From Hotel REITs

LaSalle Hotel Properties posts a solid quarter.  http://www.hotel-online.com/press_releases/release/lasalle-hotel-properties-reports-q1-2013-net-income-of-35.2-m-compared-to-2  6%+ RevPar growth plus a 40% increase in the quarterly dividend. LaSalle Hotel Properties is a leading multi-operator real estate investment trust. The Company owns 40 hotels and a mezzanine loan secured by two hotels in Santa Monica, CA. The properties are upscale full-service hotels, totaling over [...]

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Protocol…By-Pass The Retained Search Consultant At Your Own Risk

Clients hire executive recruiters for any number of reasons.  Sometimes it’s to shield themselves when poaching execs from a friendly competitor, often it’s to ensure an objective 3rd party point of view in assessing internal and external candidates.  But one constant desire is to avoid the onslaught of unwanted inquiries from job seekers. Candidates should [...]

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In early 2013, we engaged Larry Mendez at Bannerot Partners to conduct a search for a chief operating officer for our company, Supertel Hospitality – a publicly traded REIT located in Omaha, Nebraska. I was familiar with Larry through his work in the hotel industry, and our Board of Directors endorsed the assignment. Larry was incredibly thorough, communicative, and effective throughout the process. In the end, we hired a very qualified candidate that fit our culture perfectly.
Mr. Kelly Walters, CEOSupertel Hospitality
“I highly recommend Larry Mendez and Bannerot Partners. In the search work that Larry did for us, he was able to identify high caliber candidates in a relatively short time span. We were pleased with the professionalism of the process and the final outcome. “
Bob Joyce, EVP Human Resources, Extended Stay America
I’ve always found him to be the consummate professional. He works very hard to understand the client’s need and has an expansive network which allows him to execute against the strategy.  Larry is ethical beyond reproach and understands how to gently nudge the process forward and across the finish line.
Bill Upshaw, President Lodging and Residential, TPI Hospitality