Awards to be Presented at the 2008 Americas Lodging Investment Summit

Nominees Selected for the Most Influential Hotel Developments in 2007

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. October 14, 2008

WASHINGTON, DC, January 9, 2008. Executives and companies responsible for the most influential hospitality industry developments in 2007 have been nominated for the prestigious ALIS awards, to be presented during the 2008 Americas Lodging Investment Summit (ALIS) conference, January 28-30, 2008. Nominees are considered for the honor based on outstanding business performance in various industry sectors.

Nominees in the four ALIS award categories include:

---|-Jack A. Shaffer Financial Advisor of the Year 2007

---|-Arthur Adler, Managing Director & CEO, Americas, Jones Lang LaSalle Hotels

---|-Jackson Hsieh, Managing Director and Global Head of Real Estate, Lodging & Leisure Group, UBS Securities, LLC

---|-Robert T. Koger, President, Molinaro Koger

Merger & Acquisition of the Year 2007

---|-Arbor Realty Trust Inc. and The Lightstone Group LLC, acquire Extended Stay Hotels from the Blackstone Group in $8.0 billion deal

---|--Isadore Sharp, Cascade Investment and Kingdom Hotel Investments acquire Four Seasons Hotels in $3.7 billion deal

---|--Blackstone Group acquires Hilton Hotels Corporation in $26 billion deal

Single Asset Transaction of the Year 2007

---|-Sunstone Hotel Investors, Inc., purchase of the 402-room Boston Marriott Long harf (Boston, Massachusetts) for $228 million; approximately $568,000 per room, from Boston Properties, Inc.

---|--Northview Hotel Group, Five Star Realty Partners and Behringer Harvard purchase of the 177-room Hawks Cay Resort (Duck Key, Florida), which included management of 250 privately-owned villas participating in the Resort's Rental Management Program, for $79 million from Barrington Heritage, LLC

---|-Morgan Stanley Real Estate Fund purchase of the 310-room Maui Prince Hotel Makena (Maui, Hawaii), which included two 18-hole golf courses and 1,361 acres of land, for $575 million, from Maui Prince Hotel, LLC and Lokelani Resort Corporation

Lowe Hospitality Group and Canyon Johnson Urban Fund purchase of the 1,119-room Hilton Washington DC, for $290 million; approximately $259,000 per room, from Hilton Hotels Corporation

Development of the Year 2006

---|-The 400-room MGM Grand - Detroit, Michigan, developed at a cost of $800 million by MGM Mirage

---|-The 89-room Solage Calistoga - Calistoga, California, developed by Auberge Resorts

---|-The 298-room The Liberty Hotel - Boston, Massachusetts, developed at a cost of $150 million by Carpenter & Company, Inc.

The 2008 ALIS conference will also honor Stephen F. Bollenbach, former co-chairman & CEO of Hilton Hotels Corporation, for his lifelong dedication to cultivating industry growth.

ALIS is the lodging industry's premier hospitality event, co-hosted by the American Hotel & Lodging Association (AH&LA) and Burba Hotel Network (BHN). For general event information and sponsor opportunities, contact Jonathon Zink, BHN conference manager, at (714) 540-9300 or [email protected] or visit the ALIS Website at www.alisconference.com. For information on the AH&LA, visit www.ahla.com.