Stephen Taylor, CHA

Statement of Qualifications

Stephen Taylor is the managing director of Horwath HTL's Miami (South Florida) brokerage and consulting services office and has helped orchestrate the company's growth through the expansion of marketing strategy, business development and client services. Mr. Taylor has 30 + years of specialized hotel/ real estate experience as an operator, developer, consultant and broker. He was the company's 2004 Top Producer. Mr. Taylor provides valuation advisory services and litigation support as a consultant and expert witness on cases where value, performance, branding and operational reviews are at issue.

Prior to joining Horwath HTL, Mr. Taylor was a founding partner (1985) President & CEO of Brookshire Hotels, a nationwide full service hotel management and development company. Its portfolio of 28 hotels he built include city center convention hotels, destination resorts road side inns, marinas and brands including Sheraton Hilton Radisson Holiday Inn Ramada and independents etc. Brookshire provided a complete spectrum of management workout services to the Resolution Trust (RTC), Federal Deposit Insurance Corporation (FDIC), John Hancock, Aetna, Citicorp, Heller Financial, Bank of Washington, Barnett Bank, Heller Financial and private equity investors as well.

Mr. Taylor is a frequent speaker at industry conferences and a contributing editor to Lodging Hospitality Magazine. He earned his B.S. in Journalism / Marketing at the University of Florida. He is a Licensed Real Estate Broker, Certified Hotel Administrator (CHA) and an active member of the Turnaround Management Association (TMA).

Horwath HTL is the world's largest hospitality advisory firm with 57 offices in 32 countries with professionals dedicated to the hospitality industry. The Horwath HTL group has focused specifically on providing real estate, financial and contractual advisory services to its hospitality industry clients for over 90 years.

The North American offices are located in San Francisco, Los Angeles, Phoenix, Dallas, Denver, Atlanta, Miami, Toronto, Montreal, Santo Domingo and Mexico City.

The company is a member of Crowe Horwath International – a network of certified public accounting firms with more than 400 offices worldwide.