The Fallacy of Past Performance

PHOENIX-Wall Street has always had a mixed relationship with commercial real estate and the markets reflect that in the debt ceiling discussions, the S&P downgrade and public money booming into the first half of the year. But as the markets seek to speculate on the future of hotel growth, which itself had a dynamite first half before tailing off, a panel of money and hotel conniesseurs debate the merits of a bullish outlook.

One of the morning break-out sessions at this year’s Lodging Conference, “Wall Street…will the Bulls Come Back” sought to dissect the economic future for lodging investment. The scalpel-wielding roundtable was helmed by ALM’s Real Estate Media Group VP and group publisher, Michael Desiato. The roundtable was manned by Peter Berk, president, PMZ Hotel Finance Group; Michael Bluhm, managing director, Morgan Stanlyey Investment Banking; Greg Hartmann, EVP, Jones Lang LaSalle Hotels; Robert A. LaFleur, managing director Gaming, Loding and leisure Equity Research; and Joel Ross, principal, Citadel Realty Advisors; and GlobeSt.com blogger of the Ross Rant.