-78-
Ballard recognized that Lisle alone held the power to bar
Hyatt Corp. from bidding on the Embarcadero Hotel management
contract, and there is no suggestion the other partners in the
Embarcadero Hotel project had any direct input regarding the
bidding process. Ballard, Transcr. at 130, 135-137.
Subsequently, Ballard, Lisle, other Prudential employees,
and representatives of the other joint venture participants met
with Del Webb and A.N. Pritzker to obtain their respective bids
on the Embarcadero Hotel’s management contract. The third
bidder, Intercontinental Co., unexpectedly did not attend the bid
meeting. Ballard, Transcr. at 136, 269. Ballard considered it
unusual for Del Webb to attend such a meeting in person, as
opposed to sending a representative. Ballard, Transcr. at 138.
During the meeting, Mr. Webb refused to submit a bid on
behalf of his hotel management company, as Mr. Webb claimed that
it was his understanding that Mr. Webb’s company was to receive
the management contract. Although Lisle and other
representatives of the joint venture participants then asked Mr.
Webb how he believed this was so, Mr. Webb refused to elaborate.
A.N. Pritzker offered to have Hyatt Corp. enter into a management
contract for the Embarcadero Hotel substantially similar to the
Houston Hyatt Hotel’s management contract. As Hyatt Corp.
submitted the only bid, A.N. Pritzker’s proposal was accepted,
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