GlobeSt.com: Let's start with the hotel sector. An incredible year. What's the dynamic?
Bralower: The hotel business as a business is performing very well right now. Occupancy and rates are very high. Couple that with the fact that there was a long period of time when people were underweighted in hotels. That was partly because performance wasn't as good then, and because there's always been a group who have the knee-jerk reaction that real estate guys shouldn't do hotels. And while there's a degree of truth in that, there are also people who have come to recognize that there's great money to be made in the hotel business.
Also, we're coming off of a period of very little hotel development--particularly in places like Manhattan. If everything that's projected to get built in Manhattan gets built, we'll still have a very robust market.
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