-263-                                                   
            become a member of a joint venture, or to participate in some                               
            other form of syndication for investment; and to buy, sell,                                 
            lease, and deal in services, personal property, and real                                    
            property.”                                                                                  
                  In connection with the formation of Essex Partnership, GHM                            
            and MHM entered into separate representation and marketing                                  
            agreements with Essex Partnership.  GHM agreed to pay to Essex                              
            Partnership 75 percent of its fees on GHM’s management contracts                            
            on the Gateway Hilton and the Midland Hilton.  MHM agreed to pay                            
            to Essex Partnership 30 percent of its management fees from the                             
            operation of the Madison Hotel and 43 percent of the fees from                              
            the operation of the Allentown Hilton.  In return, Essex                                    
            Partnership agreed to (1) “perform liaison functions” between                               
            certain hotel owners and GHM and MHM in connection with                                     
            management contracts between such parties, (2) “perform liaison                             
            functions” between the owners of any additional properties which                            
            it was instrumental in securing for management by GHM or MHM, (3)                           
            “use its best efforts to maintain satisfactory relations” between                           
            the property owners and GHM and MHM “and to maintain sufficient                             
            personnel to properly perform such [management] functions”, and                             
            (4) “use its best efforts to secure management contracts”                                   
            satisfactory to GHM and MHM.                                                                
                  Essex Partnership had no offices and no employees.  Very                              
            few, if any, capital contributions were made to Essex                                       
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