Exhibit (e)(1) (HOULIHAN LOKEY HOWARD & ZUKIN LOGO) October 15, 2003 Westin Hotels Limited Partnership Westin Chicago Limited Partnership Westin Realty Corp. 909 North Michigan Avenue Corporation Ladies and Gentlemen: We understand that Kalmia...Westin Hotels LTD Partnership • October 16th, 2003 • Hotels & motels
Westin Hotels Limited Partnership Westin Chicago Limited Partnership Westin Realty Corp. 909 North Michigan Avenue Corporation
October 16, 2003Westin Hotels LTD Partnership • October 16th, 2003 • Hotels & motels
On October 6, 2003, Kalmia Investors, LLC, Merced Partners Limited Partnership, Smithtown Bay, LLC, Global Capital Management, Inc., John D. Brandenborg and Michael J. Frey (collectively, the "Purchasers"), commenced an unsolicited tender offer (the "Offer") to purchase up to 73,250 Units of Westin Hotels Limited Partnership (the "Partnership") at a purchase price of $550 per Unit, in cash, without interest, less the amount of any distributions declared or paid on or after October 1, 2003 in respect of that Unit.
