What is a Hotel Sponsor in the context of a real estate transaction

1.In Chapter 17 of the text, the authors discuss the role of a "Hotel Sponsor". What is a Hotel Sponsor in the context of a real estate transaction?

2.Describe what Debt is, how it effects cash flow, and the risks to both the lender and the debtor.

3.What is the difference between Preferred Equity and Common Equity?

4.When designing a capital structure, list and describe 3 important considerations.

5.In the text chapter 15 on the Lenders view of risk and reward, the authors noted 3  attributes of hotel real estate that makes hotels a riskier asset than other forms of commercial real estate.  Describe these attributes

6.List and describe 3 sources of equity capital in the hotel real estate market.

7.Why will lenders lend only a certain percentage of the value of a transaction?

8.Describe Mezzanine Debt (or Equity).

9.Describe equity investment and the risks of these investments for both the investor and the capital structure.

10.In the Video Lecture on Equity returns example, explain the two components of the return on equity to the investors.  Where do they come from? What was the average annual percentage return for the 7 year period?