J. Mark Tobin, CRE
President (HREC Development Resources)
Mark Tobin has been a lodging real estate professional for more than 23 years. He has been involved with well over $3 billion in hotel real estate assets. This experience has 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 asset management, development management, and asset advisory services.
Mr. Tobin is considered a lodging industry expert on the subject of convention center hotels and the use of complex financing structures for these types of assets. He has an equal expertise regarding lodging investment, operations management and asset management. Mr. Tobin served as the City and County of Denver’s lodging advisor in its June 2003 $354 million convention center hotel financing, the proceeds of which were used to construct an 1,100 room convention center hotel. He was also the exclusive lodging advisor to the City of Vancouver, Washington in its $65 million conference center hotel financing the proceeds of which are currently being used to construct its hotel project. He was also the exclusive lodging advisor to the Village of Lombard, Illinois in its $150 million conference center hotel financing the proceeds of which are currently being used to construct its hotel project. Mr. Tobin is currently involved as a lodging and transaction advisor in several other convention center and conference center hotel projects that are planned to open between 2009 and 2012.
Mr. Tobin has worked on many hotels that have been economic development projects. Clients of these projects have included, but are not limited to, The Port Authority of New York & New Jersey, New York; City of Charlottesville, Virginia; City of Richmond, Virginia; the City and County of Denver, Colorado; the Village of Lombard, Illinois; the City of Vancouver, Washington; the City of Macon, Georgia; the City of South San Francisco, California; and the Washington Convention Center Authority, Washington, D.C.
- HREC Development Resources; Denver, CO; 2001 to present - Principal - Provides specialized development management, asset management and asset advisory services exclusively to the lodging real estate industry. Focuses on pro-active value creation and value enhancement activities to improve ownership leverage, control and investment returns. Successful experiences in “difficult” projects include assignments in ownership representation, development management, transaction counseling, bankruptcy related activities and operations management transitions.
- Hotel Investment Partners; Stamford, CT; 1998 to 2001 - Principal - Provided development management and asset management activities for luxury resort and large-scale hotel lodging operations. Clients included individuals and pension fund entities with lodging equity interests. Services included asset and operations advisory services, transaction counseling services, development management, related debt & equity investment analysis and due diligence activities.
- MONY Real Estate Investment Management; New York, NY; 1991 to 1998; ARES Realty Capital, Inc.; Stamford, CT; 1994 to 1996 – Vice President – Developed startup hotel asset management operations and managed the hotel real estate portfolio; equity position consisted of 4,200 keys with a market value of $500 million; debt position consisted of $75 million. Responsible for all strategic, operating, underwriting and capital activities. Increased net operating income by 260%, net cash flow yields by 450%. Responsible for 30% of the total portfolio net operating income.
- Stephen W. Brener Associates, Inc.; New York, NY; 1988 to 1991 – Senior Associate – Performed consulting and asset management activities on over $1 billion of hotel real estate debt and equity for numerous institutional, corporate and quasi-governmental agencies. Provided services in various areas of hospitality operations, development and finance.
- The Hospitality Group, Inc.; Walnut Creek, CA; 1985 to 1987 – Consultant – Developed and implemented operating systems in hotels totaling more than 2,000 keys; responsible for generating operating savings representing over $20 million in market value. Implemented forecasting, labor management, cost and operational control systems for all hotel departments.
- Earlier lodging industry employment; 1980 to 1985; various operations management positions.
University of Nevada - Las Vegas; Las Vegas, Nevada
Graduate studies; William F. Harrah College of Hotel Administration
Norwich University - Northfield, VT
Bachelor of Science’ Business Administration;
Various industry related professional course work at Cornell University School of Hotel Administration and the New York University Real Estate Institute.
Diploma in Real Estate Investment Analysis; New York University Real Estate Institute; New York Realty Foundation scholarship recipient.
Lodging Industry Investment Council
Hospitality Asset Managers Association
American Hotel & Lodging Association
Hospitality Financial and Technology Professionals
Experience Advising Governmental Entities as Project Owners or Financial Participants in Hotel Transactions
- U.S. Department of Labor; Washington, D.C.
- The Port Authority of New York & New Jersey; NY
- City of Charlottesville, Virginia
- Richmond Housing & Redevelopment Authority; VA
- Denver Urban Renewal Authority, Colorado
- Washington Convention Center Authority, Washington, D.C.
- Downtown Redevelopment Authority, Vancouver, WA
- City of Macon, GA
- Village of Lombard, IL
- City and County of Denver, CO
- City of South San Francisco, CA
Examples of Corporate and Institutional Clients Served
- Plumbing & Pipefitters Pension Fund
- Skadden, Arps, State, Meagher & Flom, LLP
- Port Authority of New York & New Jersey
- Silverstein Properties, Inc.
- Metropolitan Life Insurance Co.
- Mutual Life Insurance Company of New York
- Mutual Benefit Life Insurance
- Bilzin Sumberg Dunn Baena Price & Axelrod LLP
Examples of Lodging Industry Properties Served
- Pointe Hilton Resort At Tapatio Cliffs; Phoenix, AZ
- Hyatt Regency Sacramento; Sacramento, CA
- Brown Palace Hotel; Denver, CO
- Ritz-Carlton Hotel, Spa & Casino; San Juan, PR
- Diplomat Resort & Country Club; Hollywood, FL
- Marriott World Trade Center; New York, NY
- Omni Charlottesville; Charlottesville, VA
- Sheraton Smithtown; Smithtown, NY
- Richmond Marriott; Richmond, VA
- Sheraton Denver Tech Center; Denver, CO
- Doubletree Suites; New York, NY