The 2nd annual Midwest Lodging Investors Summit starts Sunday, and it’s not too late to attend. The three-day event at the Chicago Marriott Magnificent Mile, brings together lodging owners, operators, developers, lenders and more for serious but lively discussions on the state of the hotel industry and how to prosper in these difficult times.

Lodging Hospitality and Penton’s Real Estate group are sponsoring the event, while The School of Hospitality Business at Michigan State is the Summit’s academic partner. Last year the Summit drew more than 500 lodging industry executives, many from the Midwest but others from around the country.

The Summit is a mixture of general session panels, breakout discussions and networking events. The conference pace is lively, and audience involvement is encouraged in every session.

Here are the highlights of this year’s Summit:

• The mornings of Monday, July 20 and Tuesday, July 21 open with two general session panels specifically geared to the hotel investment community. In Monday’s opener, executives from brand companies and ownership groups will discuss their common challenges and the solutions. NYLO Hotels CEO John Russell moderates.

• The second Monday morning general session takes a nitty-gritty look at how owners and their managers can turnaround properties in trouble. The all-star speaker lineup includes leaders from management companies, ownership groups, brand companies and consultants.

• Tuesday’s first general session tackles an extremely timely topic, “What Is Your Hotel Worth Today?” David Neff, a hotel lawyer with Perkins Coie, leads a panel of leading experts on hotel valuation.

• As a relevant follow-up, the second general session on Tuesday will features professors from The School of Hospitality Business at Michigan State, who will unveil The Lodging Market Potential Index, a new tool to identify market areas that show long-term potential for hotel investment. Professor Ray Schmidgall will lead the session.

• At lunch on Monday, Bob Scherr, director of sport of Chicago 2016, will present an update of the civic campaign to bring the 2016 Olympics to the Windy City. Scherr will report on the progress of the effort and discuss the impact the Games would have on the hospitality industry in Chicago and throughout the Midwest. Laurence Geller, chairman of Strategic Hotels & Resorts and keynoter at last year’s MLIS, will introduce Scherr.

• Fifteen break-out sessions follow four content tracks: Hotel Financing, Hotel Development/Construction, Segments and Hotel Operations. Speakers on the panels represent a cross-section of industry executives steeped in experience in ownership, operations, branding, investments, marketing and consulting.

• Two cocktail receptions and numerous coffee breaks will allow attendees to mingle with each other and visit representatives of the Summit’s 20 sponsoring companies.

Visit the MLIS website for more information and to register or just come to the seventh floor of the Chicago Marriott on Sunday night or Monday morning and register in person.