"The majority of these people looking at distressed hotel value,they don't come from the hotel industry, but from other parts ofthe investment world," Beider says. "A hotel is by far the mostmanagement-driven asset in the commercial real estate class. Partof our problem is at the peak of the market, people were jumpinginto the industry as operators who don't know the industry well,and that put a lot of assets upside-down."

He tells GlobeSt.com that more hotel experts are needed to beinvolved in evaluating these distressed assets, "filling the gapbetween asset manager and broker. It's a good time to bring onpeople, the demand for knowledge is significant, even thoughthere's not a lot of brokerage." Fewer than 10% of the hotelofferings closed in 2009, according to a report by Real CapitalAnalytics. However, Beider says the next 18-to-24 months shouldbring significant transaction volume, depending on what is held bylenders. "It's definitely going to be exciting," he says.

Beider hired Kevin Down, Bennett Webster, Samara Rubin and RehanZaid. Down and Webster are MBA students at Depaul University, whileRubin and Zaid are undergraduates at the school. Beider is analumnus and a member of Depaul's Board of Advisors for the Schoolof Hospitality Leadership.