Center for Real Estate Finance Welcomes LaSalle Hotel Properties to the Industry Fellows Program

Apr 30, 2010

Leading real estate investment trust, LaSalle Hotel Properties, has joined the Industry Fellows program at the Cornell School of Hotel Administration’s Center for Real Estate Finance (CREF). As an Industry Fellow, the company will provide financial support to the center, benefit from the research findings of CREF faculty, and inform the development of CREF programming.

“The support of our Industry Fellows is critical to CREF research and education,” said Jan deRoos, HVS International Professor of Finance and Real Estate and executive director of CREF. “LaSalle Hotel Properties will offer real world investment scenarios that will have a significant impact on our research findings.”

LaSalle Hotel Properties owns 32 upscale full-service hotels and resorts, totaling over 8,700 guestrooms throughout 11 states and the District of Columbia. The company focuses on investing in upscale full-service hotels located in urban, resort, and convention markets. LaSalle Hotel Properties seeks to increase shareholder value through strategic investments, aggressive asset management, and partnering with premier hotel operating companies.

“We are excited to be a part of the CREF community. By building a network with top real estate professionals and leading academics, we will be able to provide even better results for our shareholders,” said Michael Barnello, president and chief executive officer of LaSalle Hotel Properties, who will represent the company at meetings of the Industry Fellows. Barnello has been with LaSalle Hotel Properties since its initial public offering in 1998.

The CREF Industry Fellows program is the cornerstone of the center’s outreach efforts. The program helps fund the annual Cornell Real Estate Case Competition, seminars on current industry topics, student travel to real estate investment conferences, as well as faculty research. The first meeting of the Industry Fellows was held in January during the Americas Lodging Investment Summit in San Diego.