NEW YORK CITY-Continuing with the theme of opportunity amid economic clouds that was sounded at the start of the Real Estate Media’s RealShare Hotel Investment & Finance Summit, the afternoon’s featured speakers leavened the bad news with encouragement for investors. “Some courageous people are going to buy things, and they’ll be the smartest people in the room right now,” said Jan deRoos, HVS International professor of finance and real estate at Cornell University.

In the “Predicting the Next 12 Months” presentation that concluded the conference, both deRoos and Jan Freitag, VP of global development at Smith Travel Research, made it clear that the current numbers suggest some courage will be needed to make buying decisions.

Similarly, Dr. Sam Chandan, chief economist at Reis Inc., said there were “many questions” facing would-be investors in the hotel sector. Among these are lack of clarity about the depth of the economic downturn and the time frame for the credit markets stabilizing. However, Chandan’s presentation was titled “Finding Opportunity in Economic Uncertainty,” and he said “there’s a big silver lining” for prudent investors who find opportunities where pricing is in line with the fundamentals.

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