Mark Rousseau - Hospitality Real Estate Counselors

Prior to joining HREC®, Mark served as a President of Hardage Suite Hotels, the real estate ownership and development arm of Woodfin Suites and Chase Suites hotel brands. In this capacity, Mr. Rousseau created and implemented all real estate and brand strategy. Under his tenure Hardage Suite Hotels completed a major refinancing, restructuring, and repositioning of its portfolio, which included expansion of the upscale, full-service suite hotel product through ground-up development funded by the company, in conjunction with joint venture partners, and via franchise relationships.

Synopsis
My extensive real estate development background includes acquisition and development of hospitality real estate projects, brokering hotel transactions, market planning and feasibility, financial management and budgeting, staff leadership and administration. I have bought, sold, planned, promoted, organized, and financed projects. I engaged, directed and oversaw internal and external support staff in the areas of architecture and planning, project management, budgeting and financial analysis and market research. I am experienced in, and adept at, developing and managing effective joint venture relationships.

Acquisitions & Development
Portfolio responsibility for all corporate real estate investments, including all development, acquisition and disposition activities. Developed and managed the overall strategic real estate plan. Identified, screened and prioritized acquisition, disposition and development opportunities consistent with the plan criteria. Identify highest and best use options in terms of project and brand positioning, including conversion and repositioning alternatives. Performed competitive bidding for developer designation and liaising with state and local government agencies.

Leadership
Established clear, succinct and measurable goals for subordinates. Directed, followed up and motivated the support staff by example and thoughtful interaction as well as by goals and objectives. Prepared and made presentations directly before corporate, public, governmental and quasi-governmental bodies.

Market Planning & Feasibility
Managed and monitored the prioritizing of targeted markets consistent with the overall real estate strategic plan. Applied the relevant market findings to specific development projects to maintain a balanced distribution and avoid undue risk concentration. Conducted basic financial analysis showing project returns for wholly owned and joint venture transactions.

Real Estate Transaction Skills
Adept at sourcing highest and best use alternatives and identifying repositioning strategies for clients. Converted $11,500,000 of obsolete hotel assets to residential and realized over $40,000,000 in gross sale proceeds.

Experience
HREC Investment Advisors - 2011 to Present - Senior Vice President

Molinaro Koger Inc. - January 2010 to September 2011 - Senior Vice President/Broker - Traditional broker role generating leads and listings, marketing and closing hotel real estate transactions.

Secured listings ranging from $6,000,000 to $125,000,000
Maintained wide range of relationships with hotel owner-operators and developers across the hotel chain scales with an emphasis on the upper half of the chain scale. Track closely and maintain excellent relationships within the hotel REIT sector
Transacted and directly participated in over $40,000,000 of listed transactions in 2010; $18,000,000 currently pending in 2011
Adept sourcing highest and best use alternatives and repositioning strategies for clients. In Sunnyvale, CA converted an obsolete 88-suites hotel, valued at $6,000,000, to 53 for sale townhome condominiums, hired independent brokers and directly managed to sell out of the project for $31,000,000. In Rockville, MD, rezoned an obsolete 203-suite hotel to residential apartments (targeting, in particular, executives tied to the DC political cycle) and placed it under contract (pending) with an apartment REIT for $12,000,000

Woodfin Suites Hotel, LLC - January 2006 to August 2009 - President, Real Estate - Senior Vice President Acquisition & Development, 4/1998 - 12/2005 - Formulated the company's development strategy and plan, including site and asset acquisition program. Organized and managed coast-to-coast broker network and successfully initiated site acquisition program, acquiring strategic sites in primary markets including Chicago, New York, Northern New Jersey, Northern and Southern California, Atlanta, Dallas, and Orlando.

Repositioning Hotel: In 2006 converted the company's independent, upscale 155-suite (194 keys) all suite, extended stay hotel that had been consistently underperforming its primary, branded, extended stay competitors, to a full service upper-upscale, transient-oriented, hotel. 2008 EBITDA increased to $3.5 million from $1.9 million pre-repositioning.
REP Competition: Successfully competed for and awarded the developer designation for a $424 million, dual hotel/retail mixed project on the San Diego waterfront, encompassing 800 hotel rooms and 75,000 square feet of street level retail. Negotiated an Intercontinental franchise and management agreements for 525 of the rooms and an independent luxury boutique for the remaining 275 rooms.
Acquisitions and Dispositions: Working through brokers and local commercial real estate developers, identified and acquired numerous hotel sites on a national scale. Negotiated selected strategic dispositions, extracting optional pricing and terms to recycle capital into new development transactions.

Hilton Hotels, Corp. - April 1994 to December 1997 - Senior Vice President - Development - Developed hotel and casino-hotel projects, both nationally and internationally. Created the development organization, formulated development strategy and plan. Hired support staff, and set development priorities consistent with the development resources and overall corporate growth strategies. Prepared a national and international development plan for casino-hotel projects.

Entry into Mexico: In response to the Mexican government's interest in legalizing casino resorts, assessed the potential markets, and identified two of the most lucrative locations. Successfully courted partners with dominant status in the chosen markets, and negotiated joint venture relationships, thereby effectively positioning the company ahead of its competitors to take advantage of the impending opportunities in Mexico.
Creation of Organizational Structure and Support: Undertook ground up reorganization and refocusing of the real estate function providing a clearer development strategy and strengthening critical field support area, in particular planning and research to provide timely, accurate and forward looking intelligence.
International Casino Development: Held responsibility for identifying and responding to all international development leads including the filing of formal bid responses. Reviewed and responded to projects to include development in Greece, Spain, United Kingdom, Mexico, Venezuela, Argentina and Lebanon.