Los Angeles, California Evidence that 2004 was a banner year for hotel real estate transactions continues to mount. Robert Koger, President of Molinaro Koger (MK), one of the world’s leading hotel real estate brokerage companies, announced today at the America’s Lodging Investment Summit (ALIS) that MK closed a record $1.3 billion in hotel real estate transactions in 2004.

“In our 45 year history of handling hotel real estate, 2004 has been the most active transactional year,” said Mr. Koger. “Prices for hotel assets climbed precipitously in 2004 as buyers bid to acquire first class assets in rebounding urban and resort markets.”

With overall hotel industry profits predicted to reach nearly $21 billion in 2005 according to PricewaterhouseCoopers, savvy ownership groups are striving to tap into the strong upside of the hotel industry.

“Hotel profit growth is phenomenal,” asserted Mr. Koger. “Total profits grew from $12.8 billion in 2003 to an estimated $16.6 in 2004. The jumps expected in 2005 and 2006, barring unforeseen circumstances, are significant. Those who purchase and manage hotel properties seek to take full advantage of this historic opportunity.

“As a result of these market conditions and our depth of investment contacts, brokers at our eight offices were able to assist MK’s clients in the profitable disposition of 75 properties in 2004,” said Mr. Koger.

A selection of hotel transactions structured by MK in 2004 include:

  • Crystal City Marriott Hotel, metro Washington, DC to Vornado Realty Trust on behalf of Crystal City Hotel Associates LP
  • Hyatt Hotel Orange County, California, to Ashford Hospitality Trust
  • Ritz Plaza Hotel, SouthBeach Miami, Florida, to an investment group led by Makar Properties LLC on behalf of RPH Hotel Associates
  • Jamaica Renaissance Grande Beach Resort, Ocho Rios, Jamaica, to Sunset Resorts on behalf of Jamaica Grande Ltd., an investment partnership of Marriott International, the Jamaican Government and GoGo Travel Inc.
  • Beaver Creek Lodge, Beaver Creek, Colorado, to Kessler Enterprises on behalf of FelCor Lodging Trust Inc.
  • Marriott Suites Hotel, Bethesda, Maryland, to Diamond Rock Hospitality Company on behalf of Bethesda Hotel Associates LP
  • Hilton Hotel, Pasadena, California, to a joint venture of The Carlyle Group and Davidson Hotel Company on behalf of owners Angelo, Gordon & Co. and The Shidler Group
  • DoubletreeHotel Chicago O’Hare Airport to Lowe Enterprises Inc. on behalf of William Street Hotel Associates LP

For further information about these transactions and current listings, please contact Molinaro Koger at 703.760.9600 or via www.mkhotels.com.

About Molinaro Koger - Molinaro Koger is an international hotel real estate advisory firm. The company structures boutique through luxury hotel transactions throughout the Americas and Europe. MK is headquartered in metro-Washington, DC, and has offices in London, Atlanta, Chicago, Cincinnati, Dallas, Los Angeles and Phoenix. Over the past decade the firm has captured the industry’s leading hotel transaction awards including Highest Volume, Largest Transaction and Salesman of the Year.

Joseph Molinaro founded the firm in 1959. Since then, Molinaro Koger has successfully marketed hotel real estate, sponsored limited partnerships, and arranged financing for purchasers. Given the cyclical nature of real estate, the firm has weathered an array of highs and lows during the course of its 45-year history. Throughout that time, the company has grown and assisted clients in achieving their investment goals.

“With each lodging real estate cycle we gather strength, expertise and contacts enabling us to better serve our clients best interests regardless of economic highs or lows,” says President Robert Koger. “The results we achieve are directly attributable to the commitment and expertise of our professional staff.”

Molinaro Koger can be accessed online at .

Sharon Lemon
Molinaro Koger