Consumer >> Sector Roundtables >> July 5, 1999

Roundtable Forum: Lodging Industry

ROBERT MCCONNAUGHEY is a Managing Director and Senior Portfolio Manager of Prudential Real Estate Securities Investors. Previously, he was associated with Fidelity Investment. Mr. McConnaughey received his Bachelor's degree from Dartmouth College. Profile
MARK MUTKOSKI is a Senior Lodging and Gaming Analyst/Managing Director of Equity Research at Deutsche Banc Alex. Brown. He recently expanded his coverage area to include the gaming and leisure sectors in addition to his long-standing role as the firm's lodging industry analyst. Mr. Mutkoski began his career in the hospitality industry and held various positions in hotel, food and beverage operations. His previous associations include; Ladenburg, Thalmann & Co., Sfuzzi Inc. and Atlantic City's Trump Taj Mahal hotel. He received a BS from Cornell University's School of Hotel Administration. Profile
JOYCE MINOR is a Vice President at Lehman Brothers. Previously, she was associated with Phoenix Duff & Phelps. Ms. Minor received her Bachelor's degree in Economics from Macalester College and her MBA from Harvard Business School. Profile
DENISE WILDER WARREN is a Vice President at Merrill Lynch & Co. Previously, she was associated with CS First Boston. Ms. Warren received her Bachelor's degree in Economics from Southern Methodist University and her MBA from Harvard Business School.MICHAEL A. HAPPEL is a Principal of Morgan Stanley Dean Witter. Previously, he was Director of Acquisitions for the Morgan Stanley Real Estate Funds and was involved in real estate investment banking activities at Morgan Stanley. Mr. Happel is a graduate of Harvard Law School and Duke University. Profile
TWST: Joyce, as an introduction to today's Roundtable discussion on the

lodging industry, will you talk first about how the industry is

segmented in terms of owners, franchisers and managers. Are