Recent News

"Closing Big Deals" - Mike Cahill speaks with HotelNewsNow.com


Mike Cahill discusses uptick in activity with Hotel Business


Mike Cahill speaks at The Lodging Conference and LIIC Think Tank


HREC welcomes Hank Wolpert to the Dallas office


Mike Cahill speaks with Denver Real Estate Bisnow


Geoff Davis Speaks with GlobeSt.com


LIIC members talk about "Getting the deal done"


Mike Cahill speaks at the Midwest Lodging Investment Summit


Monty Levy speaks with HotelNewsNow about Leadership


Mike Cahill speaks with GlobeSt.com about appearance on History Channel's "United Stats of America"


Mike Cahill discusses the LIIC Top Ten 2012


Geoff Davis discusses Colorado Hotel Transactions with Colorado Real Estate Journal


Patrick Culligan speaks with Tribune & Georgian about Kingsland, Georgia


Geoff Davis' forecast in Real Estate Forum


Mike Cahill discusses rates and deals with LIIC at the Lodging Conference


Mike Cahill speaks with 9 News regarding study on the Gaylord project


Mike Cahill presents an impact study to the Denver City Council for the proposed Gaylord Hotel and Conference Center


Geoff Davis discusses Brands with Hospitality World Network


HREC Launches Note Sale Platform - Hotel Debt Trader


Mike Cahill Speaks with Hotel Management at NYU Conference


Mike Cahill speaks with Financial Frenzy at the 2011 NYU Conference


Scott Stephens carries on family tradition with a hole-in-one


Mike Armstrong discusses premium brand changes with HotelNewsNow


Hotel Business 2011 Executive Roundtable:  Meet the Money - Capital Ideas:  Financing Solutions For Opportunistic Dealmakers


HREC Florida Newsletter January 2012:  Welcome Back I-Drive Orlando!


Mike Cahill discusses the LIIC Top Ten at the Meet the Money Conference 2011


Mike Cahill and Mike Armstrong speak with Hotel News Now on CMBS loans


Bill Murney speaks with Arizona Central about the number of hotel transactions within the past 12 months


Mike Cahill expresses optimism in 2010 hotel sales


Hotel Business speaks to Monty Levy about creation of Atlanta Hospitality Alliance


Mike Cahill moderates discussion on hotel sales' transactions


Mike Cahill speaks with Hotel Interactive about availability of financing for hotel transactions


Hotel News Now speaks to Mike Cahill about uptick in hotel transactions in first quarter 2010


HREC releases the Florida March 2010 Newsletter: A Change is Blowing in the Florida Wind


Hotel News Now speaks to Mike Cahill about the CMBS market


Mike Cahill and LIIC discuss with Hotel & Motel Management the stresses put on hotel transactions by the financial markets


Mark Lukens joins HREC as SVP and Establishes HREC Office in Seattle


Mike Cahill and members of the International Lodging Finance Council (ILFC) discuss the state of lending in the hotel industry


Paul Sexton joins HREC as VP and Establishes new office in Orlando


Mike Cahill offers advice on buying distressed hotels and what to expect in 2010


Bill Murney comments on the James Hotel in Phoenix, AZ


Hotel News Now speaks to Mike Cahill about the global economies effecting the Dubai World


Mike Cahill projects hotel price stabilization dates


Bill Murney comments on the Wigwam sale price


At the Navigating Troubled Times in the Hotel Industry Conference, Geoff Davis and other panelists predict when we will see steady deal flow again  


Staff Profiles

The entire HREC - Hospitality Real Estate Counselors team is comprised of true hotel industry insiders, with extensive background in hotel operations (property and corporate levels) and comprehensive real estate training. We have owned hotels, built lodging properties and grown franchise companies. As a result, we understand the lodging industry intimately and offer a true owner’s perspective to our advisory and brokerage services.

 

 
  Michael Cahill, CRE, MAI, FRICS, CHA - CEO and Founder
mcahill@hrec.com      303-267-0057

Mike Cahill founded HREC in 1994 and as CEO, is actively involved in the operation and oversight of all company divisions. Internationally recognized as one of North America’s leading providers of hotel investment banking and advisory services, Mike has provided his expert counseling on over 2,000 lodging and gaming properties and is a prolific author and lecturer on industry matters.  He is a graduate of the Cornell Hotel School.


 

 

  Geoff Davis, ISHC - President & Senior Principal (HREC Investment Advisors)
gdavis@hrec.com      212-551-1775

Geoff Davis is the President & Senior Principal of HREC Investment Advisors, and is regarded as one of the top deal makers and hotel investment advisors in the hospitality industry.  For over 24 years, Geoff has provided hotel advisory and brokerage services, with extensive experience in capital markets and top-tier asset sales.  Based out of New York, Geoff oversees the operation and management of the Investment Advisors offices across the country.


 

 

  M. Scott Stephens, MAI - Senior Principal & COO (HREC Investment Advisors - Tampa)
sstephens@hrec.com      813-635-0600

Scott Stephens is a Senior Principal & COO with HREC Investment Advisors, based out of the company’s Tampa, Florida office. For over 16 years, Scott has been providing investment banking and advisory services exclusively to the hospitality industry, specializing in valuations, debt and equity placement, and asset dispositions. Scott is actively engaged in the management and operation of the Investment Advisors division of HREC. Additionally, Scott is a member of the Appraisal Institute (MAI) and a member of the Society of Golf Appraisers (SGA).


 

 

  Michael D. Armstrong - Principal (HREC Investment Advisors - San Diego)
marmstrong@hrec.com      760-452-2255

Mike Armstrong is an HREC Principal in the San Diego office. Prior to HREC, Mike was the founder and president of Neptune Hospitality Advisors where he directed the company’s advisory activities, including hospitality transactional services, debt & equity raising services, and asset management services. Over its 8 year history, Neptune completed over $1.5 billion in real estate sales and financings. A 25-year hotel industry veteran, Mike brings extensive experience in hotel real estate sales, debt & equity financing, development, acquisitions and hotel management to his leadership role with the company.


 

 

  J. Mark Tobin, CRE - President (HREC Development Resources)
mtobin@hrec.com      303-267-0057

Mark Tobin is President of HREC Development Resources. His professional experience spans across $3 billion of hotel real estate assets that have included single asset experience with individual and quasi-governmental ownership entities as well as debt/equity portfolio management with institutional investors. These experiences have been highlighted by opportunities with large-scale and high profile assets that have required proven expertise in the areas of development management, transaction advisory services and complex capital structuring and asset management.


 

 

  Patrick E. Culligan - Principal (HREC - Memphis)
pculligan@hrec.com      901-791-2564

Pat Culligan merged his consulting practice with HREC in 2008 and heads up our Memphis office.  He has managed/conducted market studies reflecting billions in hotel investment; participated in the conceptual development of numerous hotel brands including Hampton Inns and Homewood Suites; participated in the formation of a hotel REIT; created significant value through asset management;  served as the lead negotiator for the acquisition of a European hotel brand; and has successfully served clients in hotel dispositions.  He is a graduate of the Cornell Hotel School and a licensed Tennessee RE Broker.


 

 

  Jill Oset Cahill - Manager (HREC Licensing, LLC.)
     

Jill Cahill serves as the Manager of HREC Licensing, with active involvement in the hospitality industry since 1984. Jill offers her extensive experience to HREC by directing the global branding, marketing and licensing activities for the entire Hospitality Real Estate Counselors family of real estate advisory divisions, including HREC, HREC Investment Advisors, and HREC Development Resources.  Jill is a graduate of the Cornell Hotel School.


 

 

  Monty S. Levy - Senior Vice President
mlevy@hrec.com      404-671-9598

Monty Levy heads up HREC’s Atlanta office, and has extensive experience representing a wide range of hotel sellers.  Monty has particular expertise in the sale of portfolios, having represented the seller’s of several large ($75MM+) portfolios as well as special servicers and lenders dealing with troubled loans and REO assets.  Previously, Monty practiced law as a commercial real estate attorney–both in private practice and in-house with a large financial services company.  Monty holds a BA - Emory University, JD - University of Michigan, member of the Georgia Bar and a licensed RE salesperson in Georgia.


 

 

  Mark Lukens - Senior Vice President
mlukens@hrec.com      425-985-1084

In charge of our Seattle office, Mark has 25 years of experience in all facets of hospitality real estate. Prior to joining HREC he served as SVP for Jones Lang LaSalle Hotels and VP of Acquisitions for Wyndham Worldwide. He also worked for Starwood Hotels & Resorts and has extensive hospitality consulting experience with HVS and PKF Consulting. Mark holds an MBA from the University of San Diego and a BA in Hotel Administration from Washington State University. He also holds the MAI designation from the Appraisal Institute and is a licensed RE salesperson. 


 

 

  Bill Murney - Senior Vice President
bmurney@hrec.com      602-732-4777

Bill Murney has been with the firm for 3 years as Senior Vice President and is in charge of the HREC Investment Advisors' office in Phoenix, AZ.  Bill is the established hospitality expert in the Arizona market.  Prior to HREC, he was Managing Director of Molinaro Koger’s Phoenix office and a Senior Vice President at CBRE for 20 years.  Bill has sold over $1 billion in hotel and resort assets during his 25-year career in the commercial real estate industry.  Bill graduated with dual degrees in Marketing and Finance from the University of Arizona.


 

 

  Jeffrey S. Brown, MAI - Senior Vice President
jbrown@hrec.com      404-671-9598

Jeff Brown is a seasoned hospitality real estate professional with over 25 years experience.  Prior to joining HREC, he developed over $90 million of new select-service hotels as a Real Manager with OTO Development and Extended Stay America.  He also had extensive hospitality consulting and valuation experience.  Jeff holds a Masters in Professional Studies from the Cornell School of Hotel Administration and a BA from Clark University.  He also holds the MAI designation from the Appraisal Institute and is a licensed RE salesperson.


 

 

  Scott Kaniewski - Senior Vice President
skaniewski@hrec.com      312-645-9010

An 18-year veteran of the hospitality and gaming industry, Scott is a former Chief Financial Officer of Empire Resorts, a publicly traded gaming company, a former partner with Area Property Partners and ING Real Estate Fund Investing in hotel assets and an executive with VMS Realty Partner's Hotel and Resort division.  Scott holds a Bachelor of Science degree in Finance from Indiana University of Kelley School of Business.  He is a certified Public Accountant and a member of the Turnaround Management Association. 


 

 

  Michael Blahosky - Senior Vice President
mblahosky@hrec.com      805-719-2741

Michael Blahosky has joined the firm as a Senior Vice President and is in charge of the new HREC Investment Advisors office located in Los Angeles, California.  Mike is widely known as a multi-market deal maker on a national level.  He has represented owners and investors in well over 150 transactions exceeding $1.5 billion in value.  Prior to his current position, he was a First Vice President with CB Richard Ellis Hotels and the Team Leader for the Southern California Hotel Investment Practice.  He attended California State University and received his Bachelors in History/Political Science.


 

 

  Mark Rousseau - Senior Vice President
mrousseau@hrec.com      404-671-9598

Mark Rousseau is a Senior Vice President in the Atlanta office.  With over two decades in the hospitality industry, Mark has held senior executive positions in hotel development with Hilton Hotels, ITT Sheraton (as the head of worldwide acquit ions and development) and Holiday Inns, Inc, before joining Hordage in 1986. Over his career, Mark directly managed many large hotel and mixed-use projects through complex regulatory processes and has built and acquired hotels in the United States and internationally.


 

 

  Barry Swanson - Senior Vice President
bswanson@hrec.com      404-671-9598

Barry Swanson is Senior Vice President with HREC Investment Advisors in Atlanta. For more than 15 years, Barry has completed successful hotel brokerage transactions representing a broad spectrum of clients including public and private hotel companies, financial institutions, REO assets, individual owners and equity investors. Advisory assignments have ranged from individual transactions to large portfolio sales. Barry's diverse background in finance and real estate has provided the strong platform that has enabled him to excel in the hotel brokerage industry.

 


 

 

  Ketan Patel - Senior Vice President
kpatel@hrec.com       410-598-7595

Ketan Patel has over ten years experience in the hospitality industry including five in brokerage.  Located in the HREC Washington, DC office, Ketan plays a strategic role in assisting our clients in the Mid-Atlantic region with their hospitality acquisitions/dispositions however his area of expertise ranges from New England to the Carolinas.  Ketan was previously at CBRE Hotels in New York and Molinaro Koger in Washington, DC. 


 

 

  Ted Anka - Vice President
tanka@hrec.com      312-645-9010

Ted Anka is a Vice President located in the Chicago office. Joining HREC in April 2006, Ted is an industry veteran with extensive networks and experience in over 15-states in and around the Midwest.  Ted has a strong background in the hotel franchise sales arena with a career that spanned over 10-years having worked with such companies as USFS, IHG and Cendant.


 

 

  Jeffrey J. Preston - Vice President
jpreston@hrec.com      (312) 645-9010

With over 25 years of experience in the hospitality industry, Jeff's career combines a unique mix of hotel operations, consulting and development skills. A graduate of the University of Denver's Hotel, Restaurant and Tourism program, Jeff has worked in management operations for Hyatt Hotels Corporation, has been a consultant with Pannell Kerr Forster, and has been a partner in several hotel developments.


 

 

  Tom Sommer - Vice President
tsommer@hrec.com      312-645-9010

Tom is a Vice President of HREC Investment Advisors. His 18-year career in the hotel industry has included a wide range of experience in various facets of the business. Most recently Tom served as Vice President with Mumford Company in their Chicago office where he focused on investment sale brokerage for mid-scale and economy hotels throughout the United States. Tom is a graduate of the University of Missouri with a Bachelor of Science degree in Business Administration.


 

 

  Paul Sexton - Vice President
psexton@hrec.com      407-963-4840

Paul Sexton heads up HREC’s Orlando office. During his 22-year career, Paul has worked primarily as a senior acquisitions/ development professional for three publicly traded hospitality companies. He was responsible for investments totaling nearly $750 million. As consultant and broker, he has advised clients–including individual developers, public companies and private equity funds–on hospitality projects throughout the US, the Caribbean and Latin America. Paul has a degree in Hotel, Restaurant & Tourism Management, is a licensed State of Florida broker and is a member of ULI.


 

 

  Jaimin Patel - Vice President
jpatel@hrec.com      813-635-0600

Jaimin Patel comes to HREC after more than 10 years of experience in the hospitality real estate industry, including: brokerage, acquisitions, development and consulting.  Prior to joining HREC, Jaimin owned, operated and developed numerous franchise hotels and quick service food restaurants.  Jaimin is an active member of the Asian American Hotel Owners Association (AAHOA), one of the largest hotel owners associations in North America. 


 

 

  Hank Wolpert, CHA - Vice President
hwolpert@hrec.com      214-538-6637

Hank Wolpert has joined HREC as a Vice President.  Hank has over 35 years of experience in the hospitality industry. Prior to joining HREC, Hank served as Managing Director for Colliers International Hotels (CIH) in Dallas-Fort Worth.  Hank graduated with a degree in Marketing from the University of Maryland.  He currently holds a Texas real estate license and is a Certified Hotel Administrator (CHA).


 

 

  Jeffrey Duni - Vice President
jduni@hrec.com      303-267-0057

Jeffrey Duni is a Vice President in the Denver office.  Jeffrey brings over 25 years' experience in all aspects of business development, asset management, acquisition/development for hospitality and resort enterprises, deal structuring, financing, and brokerage.  During his tenure at HVS Capital, he was responsible for arranging the firm's largest transaction, in excess of $100 million, during that time period.   Jeffrey Duni received a BSBA in Hospitality & Tourism Management and a MBA in Real Estate Finance, both from the University of Denver.


 

 

  Michael Dube - Vice President
mdube@hrec.com      303-267-0057

Mike Dube´ is Vice President in HREC's Denver headquarter office.  His professional experience includes 16 years in the hospitality industry where he served as General Manager, Director of Sales and Marketing and several other operational positions throughout his career.  Mike has worked with a variety of brands including Sheraton and Wyndham, and with management companies including Interstate Hotels and Resorts and The Hotel Group.  Mike holds a BS in Hotel Administration from the University of Nevada, Las Vegas and is a licensed RE in the state of Colorado.


 

 

  Melanie Milton - Director of Research & Administration
mmilton@hrec.com      901-791-2564

Melanie Milton serves as Director of Research and Administration in the Memphis office. She has managed and conducted hospitality research that includes hundreds of corporate demand generator interviews for both proposed and existing hotels.   Melanie also manages the administrative responsibilities of the office and oversees report production and delivery.  Her background includes experience in corporate law and franchise compliance.  She attended the University of Mississippi and is a graduate of the Southwestern Paralegal institute in Houston, Texas.


 

 

  Ashley Hunt - Director of Marketing
ahunt@hrec.com      303-267-0057

Ashley Hunt, based in HREC's Denver office, provides marketing and operational support to the entire HREC family.  Ashley serves as a communication manager, oversees the administration and development of the marketing/advertising materials including press releases, coordination of travel and conferences, and manages the company's website.  Ashley graduated with a Bachelor of Science in Marketing and Communications.


 

 

  Ameet Patil - Senior Associate
apatil@hrec.com       303-267-0057

Ameet Patil is a Senior Associate-Brokerage where he provides investment banking analysis and support for the brokerage service division.  Ameet has held multiple management positions including  General Manager and Director of Operations, overseeing a regional portfolio including a Hampton Inn and two Holiday Inn Express’s.  Ameet graduated with a B.A. in Political Science from the George Washington University while lettering in Division 1-A Golf and received his Master’s in Management of Hospitality from the Cornell Hotel School.  Ameet is a certified Hampton Inn General Manager.


 

 

  Cody Swatek - Senior Associate - Graphic Design
cswatek@hrec.com       303-267-0057

Cody Swatek, based in HREC's Denver headquarters, serves as a quality control expert for the entire HREC family.  Cody reviews documents drafted by firm members and directs design decisions on reports and other investment sales materials that are prepared internally.  Cody graduated from Colorado State University with a Degree in English concentrating in writing. 


 

 

  Michael Moriarty - Associate
mmoriarty@hrec.com      303-267-0057

Michael Moriarty is an Associate-Brokerage in the Denver office; he provides investment banking analysis and support for the brokerage service division.  Michael has held multiple positions within the hospitality industry, completing internships with Lettuce Entertain You Enterprises and Jones Lang LaSalle Hotels in Chicago.  Most recently, Michael completed an externship with Starwood Hotel & Resorts in New York City.  Michael graduated from The School of Hospitality Business at Michigan State University with a degree in Hospitality Business and specialization in Real Estate & Development.


 

 

  Bhavnesh Vivek - Associate
bvivek@hrec.com      303-267-0057

Bhavnesh Vivek is an Associate-Brokerage in the Denver office; he provides investment banking analysis and support for the brokerage service division.  Bhavnesh has held multiple positions as an operations management intern including a special operations project with Mandarin Oriental Management and a corporate internship with JHM Hotels.  Bhavnesh is a graduate from Cornell Hotel School with a minor in Real Estate.


 

 

  John Basting - Associate - Consulting
jbasting@hrec.com      303-267-0057

John Basting is a Consulting Associate in the Denver office where he specializes in market research and feasibility studies.  John has held many positions within the hospitality industry including an internship at Wild Dunes Resort and employment at Holiday Inn.  John gained an in depth analyst experience while at JPMorgan's Investment Bank, performing financial control for the global securities desk.  John is a graduate from the Cornell Hotel School with a minor in Real Estate, while lettering in Div-1 wrestling.


 

 

  Steve Strenk - Associate
sstrenk@hrec.com      303-267-0057

Steve Strenk is an Associate - Brokerage in the Denver office; he provides investment banking analysis and support for the brokerage service division.  Steve has a strong background in the operations side of the hospitality industry with experience in Front Office, Events, F&B, and HR.  He also has hotel brokerage experience with an internship at Atlas Hospitality Group based in Irvine, CA.  He is a graduate of the Cornell Hotel School with a minor in Real Estate.


 

 

  Solomon Alter - Associate
salter@hrec.com      303-267-0057

Solomon is an Associate - Brokerage in the Denver office; he provides investment banking analysis and support for the brokerage service division.  Solomon has held multiple positions within the hospitality industry with experience in Front Office, Housekeeping, and as operations management extern at JW Marriott.  Most recently, Solomon assisted in the development of a downtown San Diego hostel.  He received a BSBA in Hotel, Restaurant & Tourism Management from the University of Denver.