Overview of Molinaro Koger’s Expertise

Molinaro Koger is pleased to present a Statement of Qualifications. The unique nature of the hotel real estate industry requires industry specific resources and expertise to ensure maximum value is generated in the execution of each transaction. Presented herein is the History and Achievements of Molinaro Koger; Selected Recent Transactions; Selected Clients; Corporate Structure & Office Locations; and Bios for the advisors in the firm. Overall, Molinaro Koger continually ranks as one of the premier hotel brokerage firms in the world. The following key factors set Molinaro Koger apart from its competitors and are the reason why we achieve pricing premiums for the hotels and resorts we market:

CONSIDERABLE EXPERIENCE

Molinaro Koger’s performance in the hotel brokerage business over the past 52 years has been unparalleled. We have maintained a strong record of performance by matching opportunities in an ever-changing industry with the needs of investors and sellers. Molinaro Koger has assembled a dedicated team of professionals with deep backgrounds in hotel investment sales, capital markets, hotel development, feasibility, and hotel asset management. Our 22 brokers average 15 years in the lodging industry or lodging service sector ...

GLOBAL REACH

Molinaro Koger has eleven offices to handle our clients’ needs in North America, Europe and Asia. The firm is headquartered in metro Washington, D.C., and together with our regional offices we are able to effectively handle assets in any part of North America. Our European and Asian offices have handled the sale of properties in over 30 countries. Our international offices also provide us with access to investors from all regions of the world seeking to deploy the capital in the hotel sector. Our ability to market our properties on a global basis provides maximum exposure to each property we market. This translates into higher values for our clients

CAPITAL MARKETS

Molinaro Koger has an extensive database of financial institutions that specialize in hotel financing. MK’s Capital Markets Division is uniquely equipped to assist buyers in obtaining financing. We consider this an important aspect to the sales process, thereby allowing sales to close in an expeditious manner. In addition, the Capital Markets group has extensive experience in advising clients on workout/restructuring, mezzanine and equity placement as well as loan sales and gap financing opportunities. In the last 24 months our Capital Markets Group has closed more than $500 million of debt and equity placement. In a market where the sources of financing are challenging we have been able to leverage our relationships with lenders that we have cultivated for more than 20 years in order to enable our clients to close deals.

SPECIALIZED BROKERAGE SERVICES

Molinaro Koger’s area of expertise encompasses the full range of hospitality asset classes and markets from full-service to limited service, from urban to suburban, from all-suite to boutique properties, from downtown business hotels to luxury resorts. We have experience in the sale of single-assets, hotel land sites, and multi-property portfolios. Recent assignments have included independent hotels and franchised properties with such brands as Marriott, Hyatt, Ritz-Carlton, DoubleTree, Four Seasons, W Hotels, Hilton, Renaissance, SpringHill Suites, Courtyard, Hampton Inn, and others. Given MK’s comprehensive business plan, exclusively focused on hotel brokerage and our pervasive presence in U.S. lodging transactions, we are uniquelystructured to maximize the hotel values on all of our assignments.

COMPREHENSIVE MARKETING TEAM

Molinaro Koger has the necessary resources to commit to the engagement and will dedicate the company’s most senior executives. In addition, MK will assign an experienced financial analyst and a talented marketing professional to each assignment to ensure that marketing materials are prepared rapidly using the most current technology available.

EXCEPTIONAL CLOSING RATE

Our brokerage expertise allows Molinaro Koger to close on 95 percent of our exclusive listings. Our closing rate exceeds industry averages and is the result of our dedication to providing sellers with an accurate valuation of their hotel, dedicated service and our ability to generate offers for the properties we handle.

LEADING INFORMATION TECHNOLOGY

Molinaro Koger maintains an extensive database of qualified buyers, enabling us to immediately access the appropriate buying community, leveraging our extensive relationships with regional and national buyers. As a result, each listing is exposed to a targeted multitude of prospective purchasers. MK’s Information Technology group has also developed one of the most robust deal specific websites in the industry. The user-friendly interface allows potential investors to access property information easily and permits clients to monitor website activity on a real-time basis in order to know what information has been accessed and by whom.

GUARANTEED CLIENT SATISFACTION

Our reputation and commitment to our clients is unrivaled. We have built an impressive network of loyal buyers, sellers and investors which has made our company one of the strongest in the industry. Client satisfaction and integrity is the foundation upon which this firm was built and why it will continue to operate successfully in the years ahead.

History & Achievements

Molinaro Koger was formed in 1959 to provide specialized brokerage services to the hospitality industry. Since the firm’s inception, the principals have participated in more than 1,000 hotel transactions. Since our sole business for the past 52 years has been in the field of hotel brokerage and hospitality sector advisory services we have acquired the knowledge necessary to advise clients in all aspects of asset acquisitions and dispositions. Molinaro Koger has sold in excess of $19 billion in hotel real estate since the firm’s inception. In the past 24 months, Molinaro Koger sold more than 90 hotel properties valued in excess of $2.1 billion.