Company Also Announces Several Other Major Accomplishments from the 2009 Year End

Hilton Worldwide announced today that, building on the record year the company had in terms of development in 2008, the next best year in the company’s 91-year history was 2009.

In 2009, despite major challenges for the hospitality industry overall, Hilton Worldwide added 302 new hotels and more than 45,000 rooms to a total count that is now more than 3,500 hotels and 585,000 rooms. In 2008, Hilton Worldwide opened 327 properties.

For the fourth consecutive year, Hilton Worldwide opened more newly-constructed guest rooms in the U.S. than any other company.* Additionally, Hilton Worldwide’s pipeline includes more than 900 hotels with more than 129,000 rooms scheduled to open.

Among many other highlights in 2009, Hilton Worldwide also:

* Signed or approved 281 hotel deals with more than 46,000 rooms.

* Moved into first place in terms of open and operating rooms in the U.S.*

* Maximized opportunities globally, with 37 percent of its pipeline of rooms now outside the U.S., compared to 15 percent only two years ago. Additionally, in 2009, 50 percent of room construction starts occurred outside the U.S. versus 17 percent two years ago.

* Increased both its market share and customer satisfaction ratings in each of its ten brands.

* Expanded its luxury portfolio by more than 100 percent within the U.S. and nearly 50 percent outside the U.S.

* Launched a new mid-tier extended-stay brand, Home2 Suites by Hilton, and approved 53 hotels for development as well as broke ground on the first property in the U.S.

* Was the only hotel company with multiple brand winners in “J.D. Power’s 2009 North America Hotel Guest Satisfaction Study.” Embassy Suites ranked highest in guest satisfaction among Upscale chains for the sixth time, and Hilton Garden Inn ranked highest in guest satisfaction among Mid-Scale Full-Service chains for the seventh time.

* Received the Readers Choice “Best in Business Travel” and “Best Hotel Web Site” (Hilton.com) by Business Traveler magazine for its Hilton brand. Hilton also received many other accolades including the “Best Hotel for Meetings” and “Best Hotel for Business Services” by Executive Travel Leading Edge Awards.

* Was honored by Entrepreneur magazine when its Hampton brand was selected as the fourth-best franchise business in the U.S. in its Franchise 500® list.

* Unveiled its new name and corporate logo that better reflect the global company it is today and will continue to be in the future.

“Despite the serious challenges resulting from the macroeconomic environment, last year was an outstanding year for our company in many significant ways,” said Christopher J. Nassetta, President & Chief Executive Officer, Hilton Worldwide. “As the global markets continue to improve, I believe Hilton Worldwide is better positioned than ever to achieve our mission to be the preeminent global hospitality company – the first choice of guests, team members and owners alike.”

About Hilton Worldwide
Hilton Worldwide is the leading global hospitality company, spanning the lodging sector from luxurious full-service hotels and resorts to extended-stay suites and mid-priced hotels. For more than 90 years, Hilton Worldwide has been offering business and leisure travelers the finest in accommodations, service, amenities and value. The company is dedicated to continuing its tradition of providing exceptional guest experiences across its global brands. Its brands are comprised of more than 3,500 hotels in 81 countries and include Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Hilton, Doubletree, Embassy Suites Hotels, Hilton Garden Inn, Hampton Inn & Suites, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages the world-class guest reward program Hilton HHonors.

For more information about the company, please visit www.hiltonworldwide.com.

* Smith Travel Research, U.S. Pipeline Report, December 2009

ePercipio, the next generation software as a service (“SaaS”) provider of media-rich, multi-dimensional e-learning solutions, announced today the consummation of a multi-year agreement to provide its highly sophisticated e-learning platform and selected intellectual property content to Hilton Grand Vacations Company, LLC.
According to Shari Levitin, Chief Executive Officer of ePercipio, “Hilton Grand Vacations is a market leader in the global vacation ownership industry and we are honored that they selected the ePercipio online learning platform. We are confident that we can assist the Hilton Grand Vacations team increase both the effectiveness and efficiency of their online education and training initiatives.”

ePercipio is an internet-based learning management system (“LMS”) that is scalable across multiple industries, multiple functional areas of an organization (human resources, sales & marketing, legal, operations & administration, finance), and across all organizational constituents (employees, customers, stakeholders). The ePercipio platform offers partner-clients a suite of key applications including a dynamic custom branded e-community interface, and a course builder application (patent pending with the FTC), among other innovative integrated functions.

Michael Brown, Executive Vice President, Mainland U.S. for Hilton Grand Vacations, stated “We are thrilled that we have this exceptional new resource for our teams. ePercipio’s innovative training platform spotlights the best things about our performance, our best practices, best stories and our best results.  This online resource holds tremendous potential.”

ePercipio helps organizations keep business skills up to date, improve employee performance and retention, cut training costs and increase flexibility.  The platform was created to allow companies to quickly and consistently deliver training, experiential learning and communication to an unlimited number of employees and/or consumers via an online community.  Levitin adds “ePercipio sets itself apart from current players in the space who generally fall short of delivering what is needed in today’s environment.  While many programs fail to hold the attention of the user, others lack the necessary tracking and reporting systems needed for managing compliance and analyzing the effectiveness of the experiential learning and training program.  ePercipio’s advantage lies in combining in-house content knowledge and curriculum design expertise with an engaging, blended learning environment followed through with tools for testing and analysis.”

According to Mr. Brown, “At Hilton Grand Vacations, we prioritize the ongoing development of innovative training programs for our Team Members. With ePercipio, we are developing an online training resource tailored to enhance our learning environment. We are populating the site with proprietary training modules, videos and podcasts that showcase our best practices. It is our goal to create an interactive educational experience that drives consistency, fosters engagement and motivates excellence.”

About ePercipio
ePercipio is headquartered in Park City, Utah and is a software-as-a-service provider specializing in the e-learning space by providing a next generation, internet-based, education and training platform.

About Hilton Grand Vacations
Hilton Grand Vacations Company, LLC is a division of Hilton Worldwide, the leading global hospitality company, spanning the lodging sector from luxurious full-service hotels and resorts to extended-stay suites and mid-priced hotels.  Headquartered in Orlando, Florida, Hilton Grand Vacations develops, markets and operates a system of high-quality vacation ownership resorts in select premier destinations.  The company also operates two innovative club membership programs, Hilton Grand Vacations Club® and The Hilton Club® providing exclusive exchange, leisure travel, and reservation services for more than 150,000 Club Members.

Name and Logo Signify International Growth

Hilton Worldwide (formerly Hilton Hotels Corporation), the leading global hospitality company, today announced the launch of its new corporate name and logo. Hilton’s new name, Hilton Worldwide, signifies the company’s global breadth and reach, and the logo incorporates key design elements that reflect Hilton’s rich heritage, vision for the future and commitment to excellence in service.

“This is an incredibly dynamic time in our company’s history. On the heels of a successful move into our new global headquarters, we’re excited to launch our corporate identity that better represents who we are today and our aspirations for the company going forward,” said Christopher J. Nassetta, President and Chief Executive Officer, Hilton Worldwide. “While our corporate name and logo have changed, the best of our company – the passion, commitment and high standards of our team members that translate into exceptional experiences for our guests – remains the same.”

The new corporate name and logo follow the company’s recent relocation of its global headquarters from Beverly Hills, Calif., to McLean, Va. These changes have also been mirrored by the internal launch of a refreshed company vision, mission, values and key strategic priorities, which are intended to communicate more clearly how Hilton conducts business and plans to achieve company goals.

Hilton Worldwide’s portfolio of ten brands comprises more than 3,300 hotels in 77 countries around the world. The company will open more than 300 hotels this year.

Logo Design Details
With the addition of the word “worldwide,” the new logo unites all members of the organization across all parts of the globe with one shared vision for success. The platinum and gold stylized H evokes quality, stature and the richness of Hilton’s heritage. The two halves are reflective, which are a reminder of the company’s storied past and vibrant future, and the open curves are welcoming, symbolizing the world of travel by suggesting the round edges of the globe, the arch of a bridge and posts of a bed.

The logos and imagery of the hotel brands that comprise Hilton Worldwide, including Hilton Hotels, will remain unchanged, while the Hilton HHonors brand will adopt the core elements of the new corporate identity and logo.

“The new corporate and Hilton HHonors branding enable our individual hotel brands to further build their distinctive identities while also communicating their common connections and the strong value proposition of the HHonors program,” said Paul Brown, President of Hilton’s Global Brands and Commercial Services.

About Hilton Worldwide
Hilton Worldwide is the leading global hospitality company, spanning the lodging sector from luxurious full-service hotels and resorts to extended-stay suites and mid-priced hotels. For 90 years, Hilton Worldwide has been offering business and leisure travelers the finest in accommodations, service, amenities and value. The company is dedicated to continuing its tradition of providing exceptional guest experiences across its global brands. Our brands are comprised of more than 3,300 hotels in 77 countries and include Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Hilton, Doubletree, Embassy Suites Hotels, Hilton Garden Inn, Hampton Inn & Suites, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages the world-class guest reward program Hilton HHonors®.

Hilton Hotels Corporation (Hilton) today announced that John T. A. Vanderslice has joined the company as Global Head of Luxury and Lifestyle Brands. Vanderslice will report to Paul Brown, Hilton Hotels Corporation President, Global Brands and Commercial Services.

Vanderslice, who has an extensive background in international hospitality and packaged goods, has worked at such notable companies as Club Med, Inc. and Kraft General Foods.

He served as President and Chief Executive Officer of Club Med Americas, operator of more than 100 leisure resorts in 30 countries, where he led Club Med’s operations in North and South America. Vanderslice was credited with successfully integrating Club Med’s marketing and commercial activities, finance and operations while repositioning the all-inclusive resorts as upscale destinations.

He joins Hilton most recently from Miraval Spa, Tucson, Ariz., where he served as Chief Executive Officer where he was instrumental in transforming the 13-year old spa into a top-ranked lifestyle resort and launched the first branded lifestyle real estate concept, Miraval Living in New York.

Vanderslice also held executive positions with Triarc Restaurant Group, Ft. Lauderdale and its subsidiaries including Arby’s and T.J. Cinnamons, Inc. Prior to that, he served in a leadership capacity overseeing legacy brands and new product introductions for Kraft General Foods.

“John has significant brand management and operations experience, as well as a proven track record of successfully growing existing brands and introducing exciting new products to the marketplace,” said Brown. “We are delighted to welcome John to Hilton.”

About Hilton Hotels Corporation
Hilton Hotels Corporation is the leading global hospitality company, based in McLean, VA, with more than 3,300 hotels and 550,000 rooms in 77 countries and more than 130,000 team members worldwide. The company owns, manages or franchises some of the best known and highly regarded hotel brands including Hilton, Conrad Hotels & Resorts, Doubletree, Embassy Suites Hotels, Hampton Inn, Hampton Inn & Suites, Hilton Garden Inn, Hilton Grand Vacations, Homewood Suites by Hilton, the Waldorf Astoria and the Waldorf Astoria Collection, as well as the recently launched Home2 Suites by Hilton. The company also manages the world-class guest reward program Hilton HHonors®.

Hilton Hotels Corporation is an Official Sponsor of the U.S. Olympic Team, which will extend through the 2010 Olympic and Paralympic Winter Games in Vancouver, the 2012 Olympic and Paralympic Games in London, the 2010/2012 U.S. Paralympic Team and the 2011 U.S. Pan American Team.

The Hilton Family of Hotels adheres to founder Conrad Hilton’s philosophy that, “It has been, and continues to be, our responsibility to fill the earth with the light and warmth of hospitality.” The company put a name to its unique brand of service that has made it the best known and most highly regarded hotel company: be hospitable®. The philosophy is shared by all brands in the Hilton Family of Hotels, and is the inspiration for its overarching message of kindness and generosity.

For more information about the company, please visit www.hiltonfamily.com.

Hilton Leads the Way in Brand Awareness and Customer Usage in Annual Maktoob Research Travel Monitor

Hilton Hotels has been voted the most recognized hotel brand in both the United Arab Emirates (UAE) and Kingdom of Saudi Arabia (KSA) according to the 2009 Maktoob Research Travel Monitor. The annual syndicated study on travel trends and preferences tracks performance of the major players in the UAE and KSA hospitality and airline industries by canvassing and assessing opinions of frequent travelers from the two countries.

Hilton emerged as a front runner in brand awareness in the UAE and KSA at 73 per cent improving on last year’s performance by 11 percent and 7 percent respectively. The Hilton brand also performed well on the usage index with 18 percent of respondents in the UAE, and 15 percent in the KSA preferring a Hilton stay over those of most other brands. The study also showed the brand is likely to maintain its substantial market share, with 23 percent of respondents from both markets intending to stay at a Hilton hotel next year. “In world-class and fiercely competitive markets like the UAE and the KSA, meeting customer expectations involves investment in the human component and image, as much as facilities. The fact that the Hilton brand not only topped our study in consumer brand awareness, but showed substantial gains over last year’s study, truly demonstrates that it is heading in the right direction when it comes to customer satisfaction,” said Tamara Deprez, General Manager, Maktoob Research.

The study also assessed hotel websites; online guest services and facility information; customer service contact, tax and fare displays; online reservation facilities; ease of navigation and payment options among other criteria. Hilton’s scores improved significantly over last year’s and the brand scored an average of 8.2 out of 10 across all areas.

Customer perception of Hilton was particularly high in the KSA where Hilton topped the list in overall customer satisfaction for the third consecutive year. The brand also recorded high scores in efficiency, ambience, quality of service, hotel staff, quality of guest rooms and facilities, food and beverage outlets and language skills of hotel staff.

“We are delighted that the Maktoob Research Travel Monitor results validate Hilton’s belief that impeccable service quality and a strong operation are the keys to a satisfactory stay. We also aim to enrich the guest experience by acting as a conduit between local culture and the guest, lending that extra personal touch, and in turn promoting repeat visits and loyal customers,’ said Essam Abouda, Vice President, Operations, Hilton Hotels, Arabian Peninsula & Indian Ocean.

The Maktoob Research Travel Monitor study was conducted to analyze the changing travel preferences and requirements of the modern traveler. The data aims to provide objective inferences on the standing of the various travel industry players in the KSA and UAE, and marks areas of excellence and those that require improvement. The 2009 study polled 594 respondents in the UAE and 533 respondents in the KSA.

2-2-2 Hilton Hotels Voted Most Recognized Hotel Brand in UAE and KSA

Hilton Hotels operates nine hotels in UAE and six hotels in KSA. The brand offers hotels in more countries than any other full service brand. Hilton Hotels currently welcomes travelers in more than 500 hotels and resorts in 76 countries and plans to serve 78 countries by the end of 2009.

About Hilton Hotels
Hilton Hotels is the stylish, forward-thinking global leader of hospitality that welcomes guests in more countries than any other full-service hotel brand. The Hilton brand currently includes more than 500 hotels and resorts in 76 countries, and plans to serve travellers in 78 countries by the end of 2009. By offering innovative products, services and amenities, Hilton enables travellers to be at their best 24/7, whether travelling for business or leisure. Start your journey at www.hilton.com.

Hilton Hotels Corporation (“Hilton”) today announced the opening of its new global headquarters at Park Place II in the Tysons Corner area of McLean in Fairfax County, Va. As previously announced, the relocation from Beverly Hills, Calif. follows a thorough review of locations that were evaluated against multiple criteria, including costs, proximity to Hilton’s major business hubs and suitability of available commercial space.

Christopher J. Nassetta, President and Chief Executive Officer, said, “The opening of our new global headquarters marks the beginning of a new and exciting chapter in our company’s rich history. We are delighted to join the vibrant Fairfax County business community and are confident that our new location will enhance our ability to operate seamlessly as a global company.”

“Hilton’s decision to locate its global headquarters in Virginia is a strong affirmation of the talent and professionalism of our workforce and the competitiveness of Virginia as a headquarters location,” said Virginia Governor Timothy M. Kaine. “This is a tremendous announcement for us and the latest indication that Virginia continues to be recognized as the best state for business. We welcome Hilton to the Commonwealth.”

Hilton’s global headquarters is LEED Gold certified, meeting one of the highest environmental standards for design, construction and operation. Hilton occupies approximately one-third of the 11-story, 323,000-square-foot building. The property, which is located at 7930 Jones Branch Drive, was completed in 2008 and is owned by the B.F. Saul Real Estate Investment Trust. It is adjacent to the Hilton McLean Tysons Corner, a Hilton-owned and managed property.

About Hilton Hotels Corporation
Hilton Hotels Corporation is the leading global hospitality company, with more than 3,300 hotels and 550,000 rooms in 77 countries and more than 130,000 team members worldwide. The company owns, manages or franchises some of the best known and highly regarded hotel brands including Hilton®, Conrad® Hotels & Resorts, Doubletree®, Embassy Suites Hotels®, Hampton Inn®, Hampton Inn & Suites®, Hilton Garden Inn®, Hilton Grand Vacations™, Homewood Suites by Hilton®, the Waldorf Astoria™ and the Waldorf Astoria Collection™, as well as the recently launched Home2 Suites by Hilton™. The company also manages the world-class guest reward program Hilton HHonors®.

Hilton Hotels Corporation is an Official Sponsor of the U.S. Olympic Team, which will extend through the 2010 Olympic and Paralympic Winter Games in Vancouver, the 2012 Olympic and Paralympic Games in London, the 2010/2012 US. Paralympic Team and the 2011 U.S. Pan American Team.

The Hilton Family of Hotels adheres to founder Conrad Hilton’s philosophy that, “It has been, and continues to be, our responsibility to fill the earth with the light and warmth of hospitality.” The company put a name to its unique brand of service that has made it the best known and most highly regarded hotel company: be hospitable®. The philosophy is shared by all brands in the Hilton Family of Hotels, and is the inspiration for its overarching message of kindness and generosity.

For more information about the company, please visit www.hiltonfamily.com.

Embassy Suites Receives Hotel Satisfaction Award for 8th Time and Hilton Garden Inn for 7th Time

Hilton Hotels Corporation announced today that two of its brands received the highest honors in the J.D. Power and Associates 2009 North America Hotel Guest Satisfaction Index StudySM. Embassy Suites ranked highest in the “Upscale” category for the sixth time (2001, 2002, 2003, 2007, 2008, 2009; including two highest rankings in the all-suite segment prior to 2001) and Hilton Garden Inn achieved the highest ranking in the “Mid-Scale Hotel Chains with Full Service” category for the seventh time (2002, 2003, 2004, 2005, 2006, 2007 and 2009) in eight years. The study is based on responses from more than 65,000 business and leisure hotel guests who evaluated 65 different hotel brands in the United States and Canada between May 2008 and June 2009.

“Hilton is devoted to leading the industry in guest satisfaction. Our brands continue to out perform the competition in guest satisfaction. This is a testament to our commitment to our guests across our family of hotel brands,” said Paul Brown, President of Global Brands and Commercial Services for Hilton Hotels Corporation.

Embassy Suites Hotels, the nation’s leading all-suite upscale hotel brand, was an impressive 26 points higher than the Upscale Hotel Chains segment average. Additionally, the brand was the leader in all seven of the guest satisfaction index measures. “It is gratifying to be honored by J.D. Power and Associates as an industry leader, but especially flattering to have led the upscale segment on all seven of the guest satisfaction index measures that were evaluated including reservations, check-in/check-out, food and beverage, and costs and fees,” said Jim Holthouser, Global Head of Full Service Brands and Embassy Suites Hotels.

Embassy Suites’ success is attributed to a number of enhancements encompassing more than $600 million in renovations, new products and services. The refreshment program – including upgraded Embassy BusinessLink™ Business Centers, new food and beverage offerings and enhanced fitness centers – have helped to augment the brand’s position in the upscale category. The brand has also focused on reinvigorating its service culture to create even greater brand differentiation.

For Hilton Garden Inn’s seventh award in the “Mid–Scale Hotel Chains with Full Service” category, the brand was 57 points higher than the segment average and led in five out of the seven guest satisfaction index measures that were evaluated. The brand saw particularly high scores for its guest room, which features the innovative pressure relieving Garden Sleep System® that allows guests to adjust the firmness or softness of the bed, as well as the ergonomic Mirra® chair by Herman Miller and complimentary WiFi. A wide array of food and beverage options including a freshly cooked-to-order breakfast featuring omelets and signature waffles and a wide variety of other breakfast offerings may have helped the brand fare highest among competitors in the food and beverage guest satisfaction index measure.

“As the brand that is focused on helping our guests be prepared for whatever they set out to accomplish -– no matter what the trip occasion may be – we are honored our guests have recognized us for the seventh time as a leader in hotel guest satisfaction,” said Adrian Kurre, Global Head, Hilton Garden Inn. “We know this award is a reflection of our guests’ loyalty to Hilton Garden Inn, as well as the dedication and attention to detail put forth every day by our team members around the world.”

The Hilton Garden Inn award comes as a result of the bundled amenities and offerings guests can expect at the more than 450 hotel locations around the world. By focusing on Every Stay Value and offering guests everything they need to make the most of their travels, Hilton Garden Inn ensures guests sleep deep, work smart, eat well stay fit and treat themselves with every stay.

About J.D. Power and Associates
Headquartered in Westlake Village, Calif., J.D. Power and Associates is a global marketing information services firm operating in key business sectors including market research, forecasting, performance improvement, training and customer satisfaction. The firm’s quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on boat ratings, car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. J.D. Power and Associates is a business unit of The McGraw-Hill Companies.

About Embassy Suites Hotels
Founded in 1984, Embassy Suites Hotels defines the upscale, all-suite segment and today has more than 200 hotels, with an additional 60 properties in the development pipeline. With spacious two-room suites, engaging team members and an inviting atrium environment, guests are allowed to put their feet up and feel right at home. To learn more, visit www.embassysuites.com.

About Hilton Garden Inn
Hilton Garden Inn is the award-winning, mid-priced brand that continually strives to ensure today’s busy travelers have everything they need to be most productive on the road — from complimentary wired and Wi-Fi internet access in all guestrooms and PrintSpots(tm) mobile printing to the hotel’s complimentary 24-hour business center to the innovative pressure-relieving Garden Sleep System™ to the ergonomic Mirra® chair by Herman Miller. So whether on the road for personal or business reasons, Hilton Garden Inn offers the amenities and services for travelers to sleep deep, stay fit, eat well and work smart while away from home. To find out more about Hilton Garden Inn locations across North America and Europe or to find your next getaway, visit www.HGI.com.

About Hilton Hotels Corporation
Hilton Hotels Corporation is the leading global hospitality company, with more than 3,300 hotels and 550,000 rooms in 77 countries and more than 130,000 team members worldwide. The company owns, manages or franchises some of the best known and highly regarded hotel brands including Hilton, Conrad Hotels & Resorts, Doubletree, Embassy Suites Hotels, Hampton Inn, Hampton Inn & Suites, Hilton Garden Inn, Hilton Grand Vacations, Homewood Suites by Hilton, the Waldorf Astoria and the Waldorf Astoria Collection, as well as the recently launched Home2 Suites by Hilton. The company also manages the world-class guest reward program Hilton HHonors.

Hilton Hotels Corporation is an Official Sponsor of the U.S. Olympic Team, which will extend through the 2010 Olympic and Paralympic Winter Games in Vancouver, the 2012 Olympic and Paralympic Games in London, the 2010/2012 U.S. Paralympic Team and the 2011 U.S. Pan American Team.

The Hilton Family of Hotels adheres to founder Conrad Hilton’s philosophy that, “It has been, and continues to be, our responsibility to fill the earth with the light and warmth of hospitality.” The company put a name to its unique brand of service that has made it the best known and most highly regarded hotel company: be hospitable. The philosophy is shared by all brands in the Hilton Family of Hotels, and is the inspiration for its overarching message of kindness and generosity.
For more information about the company, please visit www.hiltonfamily.com.

Refinancing Crisis, Erosion of Property Values, Pending Tax and Climate Change Bills Lead The Real Estate Roundtable’s Policy Concerns

Kicking off its 2010 fiscal year, The Real Estate Roundtable in July welcomed a new board of directors and committee leaders, while vowing continued efforts to address a variety of national policy issues such as the credit crisis, environmental “sustainability,” tax, and other policy issues affecting the health of the real estate sector and overall U.S. economy.

Leading the 21-member board in FY10 will be Daniel M. Neidich, co-CEO of New York-based Dune Capital Management LP. Mr. Neidich succeeds Hilton Hotels President and CEO Christopher J. Nassetta as chairman of The Real Estate Roundtable, a 10-year-old policy organization. The board includes top executives from national real estate firms representing various property types (e.g., office, industrial, multifamily, hospitality and retail) and entity classifications (e.g., privately-held and publicly traded). Six national real estate trade associations (out of a total of 16 that hold membership in The Roundtable) are also represented on the board in any given year.

“I am proud to take the helm at The Real Estate Roundtable, which faces a number of important policy challenges in the year ahead — the most significant of which is the ongoing liquidity and refinancing crisis that is forcing real estate owners into bankruptcy and pushing up delinquency rates on commercial mortgages,” said Neidich.

Immediate Past Chairman Nassetta noted that “The real estate industry’s continued, unified efforts on the policy front, involving The Roundtable’s new leadership, CEO-level membership and national partner organizations, will ensure that policymakers fully understand how their decisions affect real estate markets, which are so closely interconnected to the health of the national economy.”

Roundtable President and CEO Jeffrey D. DeBoer added, “With so many significant policy issues now under consideration by the Administration and congressional policymakers, The Roundtable will continue to present practical solutions to complex issues based on fact-based analysis, supported by industry leaders and experts.”

In addition to Neidich, Nassetta and DeBoer, the FY10 Roundtable board includes: Roundtable Secretary Robert S. Taubman, who is chairman, president and CEO of Taubman Centers, Inc.; Roundtable Treasurer Jeffrey Schwartz, chairman of Global Logistic Properties; John C. Cushman, III ,chairman of Cushman & Wakefield, Inc.; Michael Fascitelli, CEO, Vornado Realty Trust; Thomas M. Flexner, Global Head of Real Estate, Citigroup; James L. Helsel, Jr., partner, RSR Realtors LLC and treasurer of the National Association of Realtors (NAR); C. MacLaine Kenan, executive director, Arcapita, and chairman, National Association of Foreign Investors in Real Estate (AFIRE); James L. Lewis, president, Disney Vacation Club and chairman, American Resort Development Association (ARDA); Roy Hilton March, CEO, Eastdil Secured; Constance B. Moore, president and CEO, BRE Properties, Inc., and chair, National Association of Real Estate Investment Trusts (NAREIT); James A. Peck, senior director, CB Richard Ellis, chairman, BOMA International; Ronald R. Pressman, president and CEO, GE Capital Real Estate; Scott Rechler, chairman and CEO, RXR; William C. Rudin, president, Rudin Management Company, Inc.; Richard Saltzman, president, Colony Capital; L. Peter Sharpe, president and CEO, The Cadillac Fairview Corporation LTD, and chairman, International Council of Shopping Centers (ICSC); Douglas W. Shorenstein, chairman and CEO, Shorenstein Company LLC; Martin Stein, Jr., chairman and CEO, Regency Centers Corporation.

The Roundtable’s current policy agenda includes a “Five Point Plan” for restoring liquidity to the credit market. In recent months, several of the recommended steps in the plan have been enacted or implemented. However, in The Roundtable’s view, additional policy action is needed to facilitate loan workouts and restructurings (e.g., through temporary changes in the tax rules governing real estate mortgage investment conduits [REMICs]); and an overhaul of policies governing foreign investment in U.S. real estate (FIRPTA). “The debt markets, including the CMBS market, are still generally dysfunctional, transaction volume remains at virtually zero, and commercial property values remain under downward pressure,” said Neidich who spent 25 years at Goldman Sachs before becoming chairman and co-CEO of Dune Capital in 2003.

In recent testimony, Federal Reserve Board Chairman Ben Bernanke and U.S. Treasury Secretary Tim Geithner both acknowledged the lack of credit capacity and deterioration in commercial real estate markets. Additionally, Joint Economic Committee Chair Carolyn Maloney (D-NY) held a July 9 hearing on commercial real estate liquidity and market conditions at which The Roundtable’s DeBoer testified.

The Real Estate Roundtable is unique in its focus on “big picture” policy issues affecting the national economy and overall real estate industry. It also is the only advocacy group in Washington that brings together chief executives of top U.S. real estate entities (representing all market segments, asset classes, ownership vehicles and capital structures) with the leaders of 16 national real estate trade associations to develop broad-based industry perspectives on key public policy issues. For more information: www.rer.org.

There are over 1.5 million timeshare owners in Europe and the vast majority *(87%) are happy with their holidays, with almost three quarters thinking that their timeshare accommodation is better than other self-catering holidays they have taken, with quality of accommodation the most important consideration for owners.

This is according to a comprehensive study into timeshare carried out by The Christel DeHaan Tourism and Travel Research Institute at the Nottingham University Business School on behalf of RDO (Resort Development Organisation), formerly known as OTE. The study looked into the industry in detail, analysing what its economic impact is, what owners think of their timeshare and what the industry’s reach is, over 40 years since it was first conceived of in the French Alps.

The results paint a picture of a thriving industry which makes a positive impact on local economies all over Europe. The Timeshare industry generates €3.2 billion of expenditure each year and employs nearly 70,000 people. Occupancy rates are high throughout the year (72%) in Europe’s 1,312 resorts – that’s 67 million bed nights – with owners spending an average of €1,588 per trip on goods and services in the local area: from restaurants, car rental and groceries to souvenirs and clothes.

It is also a form of holiday property ownership for the masses with the average owner’s household income (pre-tax) standing at €60,475; and for people in their mid-life, with the average owner coming in at 55.  The British and the Irish are the biggest timeshare fans, followed by the Germans, Italians, Spanish and French. Spain is the most popular destination with 26% of resorts, followed by Italy (15%) and the UK and Ireland (11%). It’s not all about jetting off though, one third of owners purchase a timeshare in their own country – which shows many want to be able to get to their resort easily.

“Timeshare is a concept that has truly come of age with many thousands of happy owners across Europe”, said RDO Chairman Richard McIntosh. “The quality of timeshare resorts is high which is why many owners see it as superior to other self catering holidays. With exchange options available, owners also enjoy the flexibility of being able to try out resorts across Europe and the rest of the world.”

“This report also highlights the positive impact that timeshare has on local economies. Timeshare is a year round industry with owners as likely to visit in the winter months as the summer, spending money in the local community and providing jobs where they otherwise might not exist”, concluded McIntosh.

Professor Chris Cooper, Director, Christel DeHaan Tourism and Travel Research Institute commented: “This report is essential reading for all involved in the timeshare business, not only does it provide a detailed profile of timeshare owners, but it also examines their future intentions and preferences in the timeshare market place”.

More about RDO
RDO (Resort Development Organisation) is the trade body dedicated to excellence and fair trading in the European vacation ownership industry, whilst promoting and fostering industry growth. As such, it serves its members through public relations, legislative lobbying, research and member and consumer relations management.

Resort Development Organisation AISBL, formerly Organisation for Timeshare in Europe AISBL is an international non profit making association registered in Brussels with company number 0457.984.213.  Its registered office is at Oak House, Cours St Michel 100/3, 1040 Brussels, Belgium

The Christel DeHaan Tourism and Travel Research Institute (TTRI)
TTRI is located in the Business School in the University of Nottingham. The University of Nottingham is one of the UK’s leading universities, a member of the Russell Group of universities and one of the top four universities earning research funding from private industry and commerce. The Business School has been rated as one of the leading research schools in the 2008 UK-wide Research Assessment Exercise

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*When asked in 2006 whether they were pleased with their decision to buy timeshare 75% of UK owners agreed.

Case Studies – the following ‘excerpts’ represent major developers in some of the key timeshare markets – UK, Portugal and Spain (including the Canaries).

Anfi Group
Anfi Group resorts are located in two main areas of Gran Canaria: Anfi Arguineguín with 4 resorts (Anfi Beach, Puerto Anfi, Monte Anfi and Gran Anfi) and Anfi Tauro (Anfi Emerald).

With occupancy levels in excess of 85% across its luxurious 988 apartments, with the highest rates in October, November, February and March, Anfi’s 1,000 staff service in excess of 30,000 members.

The resorts located in Arguineguín attract many additional visitors through their beach and marina, boosting sales in local shops and restaurants. Tauro Valley which has several golf courses, also brings in many extra visitors to the region, supporting the local economy.

Clowance Estate & Country Club – part of Seasons Holidays Group.
Clowance Estate and Country Club in Cornwall employs over 150 staff in part and full time positions for its 108 unit resort. Clowance has an occupancy rate of 93% – 95% with half its owners on fixed weeks with the rest of the occupants made up of Seasons’ multi destination network. Clowance creates year-round jobs in the resort and indirectly creates jobs in the tourism industry in the local area.  Local shops and restaurants are supported by the resort’s customers all year round, as well as nearby tourist attractions such as the Eden Project.

Club La Costa
Club la Costa employs approximately 1,100 people on the Costa del Sol with an average occupancy rate of 85.2% across its 800 units and has 50,000 owners.

Club la Costa is one of the largest employers on the Spanish coast and the majority of staff come from the local community. It also has a policy of trading with local business people wherever possible.

Gran Anfi Club – part of the Anfi Group
TBC

Hilton Craigendarroch
The Hilton Craigendarroch resort in Royal Deeside is part of the Hilton hotels group. It is a resort of 99 timeshare units and a 45 bedroom hotel. The timeshare units run at 96% occupancy year round and have over 3,800 owners. The resort employs 35 full time and 80 part time staff in addition to 90 people in the hotel. The resort has a big impact on the local community with local restaurants now open all year round. Prior to the opening of the resort there were only two restaurants in the town and now, in part thanks to the resort, there are nine. Guests at the resort support many local traders, including visitor focussed businesses such as galleries and bike hire shops.

Petchey Leisure
Petchey Leisure, one of Europe’s leading leisure groups, has 3 resorts in the Algarve, Portugal, and a total of 850 apartments.  With around 10,000 timeshare owners and excellent year-round occupancy levels, the resorts provide direct employment opportunities to the local community, hiring around 300 staff.  Local businesses, including shops, restaurants, bars and attractions benefit from the money spent by the resorts’ customers. 

Resort Properties
Resort Properties built, sold out and operate 4 prestigious resorts in Europe. The combined Sales, Marketing and Management Team consist of approximately 950 personnel. There are over 1,000 units with an occupancy level of 88%, and a worldwide ownerbase of over 40,000 families.

The resorts are maintained by its Management Company, XL Hotels & Resorts, who employ approximately 600 personnel across their sites.

Booking.com, a global online hotel provider today announced a distribution agreement with Hilton Hotels Corporation. Under the new agreement, Hilton’s worldwide portfolio of hotels will be available directly on Booking.com and via their network of over 4,500 distribution partners. Hilton properties will have access to Booking.com’s customer base of over 30 million unique visitors each month. Booking.com is part of 
priceline.com

Gillian Tans, Director Hotels at Booking.com said “Hilton’s high quality brands are recognized globally and we are excited to offer them to our customers. With Hilton Family hotels in 77 countries, we are eager to further develop this beneficial relationship as we continue our global expansion.”

Philippe Garnier, Senior Director, Distribution Sales at Hilton Hotels Corporation added “We are pleased to be establishing a strategic global partnership with Booking.com, an ideal partner to help us reach millions of additional travelers worldwide. We trust that Booking.com will complement our distribution globally.”

About Booking.com
Headquartered in Amsterdam, with 25 offices worldwide, Booking.com is part of the priceline.com (Nasdaq: PCLN) family of travel companies. Booking.com is one of the world’s leading online hotel providers and market leader in Europe, with over “2.8 billion (US$4 billion) in gross travel bookings in 2008. Gross travel bookings refer to the total euro/dollar value, inclusive of all taxes and fees, purchased by customers. Its website attracts over 30 million unique visitors each month. Booking.com works with more than 60,000 hotels in 10,000 destinations around the world. Its services are available in 21 languages.

About Hilton
Hilton Hotels Corporation is the leading global hospitality company with more than 3,200 hotels and 545,000 rooms in 77 countries and territories, including 135,000 team members worldwide. The company owns, manages or franchises some of the best known and highly regarded hotel brands including Hilton®, Conrad® Hotels & Resorts, Doubletree®, Embassy Suites Hotels®, Hampton Inn®, Hampton Inn & Suites®, Hilton Garden Inn®, Hilton Grand Vacations”, Homewood Suites by Hilton®, Home2″ Suites by Hilton and The Waldorf Astoria Collection”.