Shiva Maharaj, a senior member of the company's businessdevelopment team, tells GlobeSt.com that because of the globalcapital epidemic, the company is looking for opportunities thatneed equity or debt. "The current turmoil in the credit markets hascreated a unique situation where developers and owners of hotel andresort properties or projects have a desperate need for financing.Our program is geared toward providing immediate capital toexperienced owners and developers in key growth markets," hesays.

The fund was just formed Tuesday, Maharaj says, and noproperties are in mind yet. SCS will consider senior, mezzanine andequity investments, as well as sale-leaseback scenarios. Sponsorswith bank lines which are no longer being extended, or those neededto be refinanced, as well as acquisition, bridge, renovation and/orrepositioning financing, are being targeted.

The firm is gravitating more toward well-performing existinghotels. "We'd rather get properties that are already up," Maharajsays. "Why go into new when you can put the same money into goodbets?" he says. He says the company will pay particular attentionto London, where it just opened a new office.