INVESTMENT LETTER AGREEMENT

                        HOTEL INTERNATIONAL ADVISORS, LLC



Host Funding, Inc.

1640 School Street, Suite 100

Moraga, California 94556



Gentlemen:



         The undersigned acknowledges that it is receiving from Host Funding,

Inc., a Maryland corporation ("Host Funding"), 1,000,000 shares of the Class

A Common Stock, $0.01 par value, of Host Funding (the "Shares"), in exchange

for interests in four hotel properties owned by Bufete Grupo Internacional,

S. A. de C. V and/or its affiliates.



         1.       ACCEPTANCE OF SHARES. Subject to the terms and conditions

of this Investment Letter Agreement, the undersigned hereby accepts ownership

of the Shares.



         2.       ACKNOWLEDGMENTS, REPRESENTATIONS AND COVENANTS. The

undersigned acknowledges that the undersigned is acquiring the Shares in a

transaction not involving a public offering and without being furnished any

offering literature or prospectus. The undersigned further acknowledges,

represents, warrants and covenants as follows:



                  (a)      the undersigned is organized under the laws of the

         State of Delaware;



                  (b)      the undersigned understands that the Shares have not

         been registered under the Securities Act of 1933, as amended (the

         "Securities Act"), and represents and warrants that the Shares are

         being acquired by the undersigned solely for the undersigned's own

         account, for investment purposes only, and are not being received with

         a view to, or in connection with, any resale, distribution, subdivision

         or fractionalization thereof; the undersigned further represents and

         warrants that the undersigned has no agreement or other arrangement,

         formal or informal, with any person to sell, transfer or pledge any

         part of the Shares which would guarantee to the undersigned any profit

         or against any loss with respect to such Shares and the undersigned has

         no plans to enter into any such agreement or arrangement;

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