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OUR PRESENTERS

OUR PRESENTERS. Our Presenters. Bruce Parmley – Washington, DC Steve Robinson – Shanghai Jun Wei - Beijing. FIRM HIGHLIGHTS. Firm Highlights. Over 1,000 lawyers practicing in 21 offices worldwide

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OUR PRESENTERS

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  1. OUR PRESENTERS

  2. Our Presenters • Bruce Parmley – Washington, DC • Steve Robinson – Shanghai • Jun Wei - Beijing

  3. FIRM HIGHLIGHTS

  4. Firm Highlights • Over 1,000 lawyers practicing in 21 offices worldwide • Our worldwide services structure and common firm culture foster innovation, knowledge sharing and quality service • Full-service “Top 30” global law firm (Legal Business, 2004) • #1 real estate practice in Washington, DC, with client appreciation for “the team’s responsiveness and positive firm culture” (Chambers USA, 2004) • Consistently ranked in Top 10 of lobbying powerhouses • Represent over half of Fortune 500 companies and more than 65% of Fortune 250 • Ranked in 40 categories in European Legal 500 in2003 • Provide “one-stop-shop” seamless service wherever our clients do business

  5. HOSPITALITY practice overview

  6. Hospitality Practice Overview • Structuring ownership entities and offshore vehicles, and negotiating acquisition and equity investments in major hotel and resort projects • Structuring and negotiating all types of financing arrangements (public and private debt, portfolio credit facilities, mezzanine financing and property level financing) • Working with key authorities on approvals and registrations • Acquisition and development of hotel and resort projects, including development and construction agreements, resort integration agreements, amenity agreements (spa, golf course) and similar understandings • Structuring and negotiating management and operational agreements with major hospitality brands, including Marriott and Ritz-Carlton, Four Seasons, Hyatt, Starwood, Mandarin, Hilton, Wyndham and others • Private equity formation on behalf of sponsors and investors in major hotel and resort projects • Tax, governance, operational, interdisciplinary and general business representation with respect to all facets of the hospitality and lodging industry

  7. OVERVIEW

  8. Overview • Key Regulatory Authorities • Trends in Hotel Investment • Hotel Management Companies • Land System in China

  9. KEY REGULATORY authorities

  10. Key Regulatory Authorities • National Tourism Administration (“NTA”) • National Development and Reform Commission (“NDRC”) • Ministry of Commerce (“MOFCOM”) • State Council

  11. TRENDS IN hotel investment

  12. Trends in Hotel Investment • WTO Commitments • Restrictions • Choice of Entities and Offshore Vehicles for Hotel Investment • WFOE (and governing laws) • EJV (and governing laws) • CJV (and government laws) • Offshore Vehicles

  13. Trends in Hotel Investment (contd.) • Approval Procedures • Documents Needed • Timeframes • Post-approval Registrations • Operation Duration of Hotels

  14. Trends in Hotel Investment (contd.) • Taxation • Income Tax • VAT • Business Tax • Governance and Operational Issues • Board • Management • Employment • Labor Costs

  15. Trends in Hotel Investment (contd.) • Exit Strategies • Listing • Domestic Stock Exchanges • Domestic Listing Requirements • Approval Procedures for Domestic Listing • Offshore Listing • Sale to Strategic Investors • Capital Gain Tax • Land VAT • Approval Requirement • Mandatory Consent by JV Partners • Mandatory Right of First Refusal • Benefit of Having an Offshore Holdco

  16. HOTEL management companies

  17. Hotel Management Companies • Qualifications of Hotel Management Companies • Business Scope of Hotel Management Companies • Measures of Operations • Franchising • Intellectual Property

  18. LAND SYSTEM in China

  19. Land System in China • Two Types of Land • State-Owned Land • Collective-Owned Land • Land Use Rights v. Fee Simple • Obtaining Land Use Rights • Zoning and Land Uses

  20. Land System in China (contd.) • Land Use and Real Estate Related Taxes • Easement • Land Grant and Construction-Related Authorities • Transfer of Land Use Rights

  21. Washington, DC New York Baltimore Northern Virginia Miami Los Angeles Denver Boulder Colorado Springs Berlin Munich Brussels London Paris Budapest Prague Warsaw Moscow Beijing Shanghai Tokyo www.hhlaw.com Thank You Hogan & Hartson Beijing Office China Merchants Tower, Floor 29, Suite C 118 Jianguo Lu Beijing, China 100022 Phone: +8610.6566.9088 Fax: +8610.6566.9096 Hogan & Hartson Shanghai Office Raffles City, Suite 3006 268 Xi Zang Zhong Road Shanghai, China 200001 Phone: +86.21.6340.4666 Fax: 86.21.6340.4999 Hogan & Hartson Washington, D.C. Office Columbia Square555 Thirteenth Street, N.W.Washington, DC 20004-1109 Phone: +1.202.637.5600  Fax: +1.202.637.5910

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