Company Overview

Team Member 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
Email:  [email protected]
Phone:  303-267-0057 x101

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.


M. Scott Stephens, MAI - Senior Principal & COO (HREC Investment Advisors - Tampa)
Email:  [email protected]
Phone:  813-635-0600 x2

Scott Stephens is a Senior Principal & COO with HREC Investment Advisors®, based out of the company’s Tampa, Florida office.  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)
Email:  [email protected]
Phone:  760-931-5606

Mike Armstrong is a HREC Investment Advisors® Principal in the San Diego office. Since joining HREC in 2009, he has completed over 50 hotel sales and mortgage brokerage assignments.  A 30-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. Previously, he held executive positions with Neptune Hospitality Advisors, Insignia/ESG, Hotel Partners, and Metro Hotels. Mike is a California licensed real estate broker and a graduate of the University of North Texas.


Patrick Culligan - Principal (HREC - Memphis)
Email:  [email protected]
Phone:  901-791-2564

Pat Culligan heads up the 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.


James F. O'Connell - Principal, ISHC (HREC Investment Advisors - Boston)

Email:  [email protected]
Phone:  978-777-8898 x1

Over the past 25 years, Jim has earned a reputation for succeeding on the toughest assignments by assembling all of the moving pieces within a transaction that has stretched to both coasts.  He gained his national contact base while advising workout professionals and managing the ORE hotel portfolio of the Bank of New England/RECOLL Management Corp.  Jim has represented public companies, private equity funds and high net worth individuals across the country and is known for having completed more hotel transaction in the region than any other broker.  Jim is a graduate of Massachusetts Maritime Academy.



Herb Warmbrodt - Principal (HREC Investment Advisors - Kansas City)
Email:  [email protected]
Phone:  913-381-3737

Herb Warmbrodt is a HREC Investment Advisors® Principal in the Kansas City office.  Herb began his hospitality investment career in the mid 1980's with RHW Companies as Director of Acquisitions for the development, financing, management and disposition of Residence Inn by Marriott hotels.  In 1991, Herb joined a Kansas City based boutique investment banking firm as a partner and headed the hospitality platform before founding Warmbrodt Hotel Investments in 2003.  In his 30+ years in the hospitality industry, Herb has been involved in over $1.5 billion in hospitality transactions.



Monty Levy - Managing Director
Email:  [email protected]
Phone:  404-671-9598

Monty Levy heads up HREC®’s Atlanta office, and has extensive experience representing a wide range of hotel sellers.  He has led the HREC IA disposition team in successfully selling a number of full-service assets in the Southeast.  Monty co-founded the Atlanta Hospitality Alliance, the region's foremost education and networking driven hospitality organization.  Previously, Monty practiced law as a commercial real estate attorney.  Monty holds a BA - Emory University, JD - University of Michigan, member of the Georgia Bar and a licensed RE salesperson in Georgia.



Bill Murney - Managing Director
Email:  [email protected]
Phone:  602-732-4777

Bill Murney is Managing Director 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.


Ketan Patel - Managing Director
Email:  [email protected]
Phone:  410-598-7595

Ketan Patel has over ten years experience in the hospitality industry including eight in brokerage.  Located in the HREC Investment Advisors'® 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.


Jeffrey S. Brown, MAI - Senior Vice President
Email:  [email protected]
Phone:  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
Email:  [email protected]
Phone:  847-721-4031

Scott Kaniewski is a Senior Vice President.  He joined the firm in 2011 & since that time has sold over $300 million dollars of full & select-service assets & placed over $100 million dollars of debt.  Two of Scott's more notable transactions include the sale of the Snow King Ski Resort in Jackson, WY & the sale of the Crowne Plaza Downtown in St. Louis, MO.  Scott is a former Chief Financial Officer of Empire Resorts, a publicly traded gaming company, a former partner with Area Property Partners & ING Real Estate Fund Investing in hotel assets and an executive with VMS Realty Partner's Hotel & Resort division.  Scott holds a Bachelor of Science degree in Finance from Indiana University of Kelley School of Business.


Mark Rousseau - Senior Vice President
Email:  [email protected]
Phone:  619-743-6408

Mark Rousseau is a Senior Vice President.  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
Email:  [email protected]
Phone:  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.



Mark Mitroka - Senior Vice President
Email:  [email protected]
Phone:  949-285-1544

Mark Mitroka is a Senior Vice President located in Austin, Texas.  He has over 25 years of experience in real estate and finance with transactional experience in the United States and 20 foreign countries.  During his career, Mark has appraised, valued, financed, acquired, operated and provided consulting advice on hospitality and gaming assets worth in excess of $5 billion.  He has held positions in the hospitality industry with Michigan State University, HVS, KPMG, Belgravia Capital & Larken Hotels.  He is a graduate of the School of Hospitality Business, Broad College of Business at Michigan State University.


Kevin Hanley - Senior Vice President
Email:  [email protected]
Phone:  301-370-8736

Kevin Hanley, 35-year hospitality veteran, having most recently been the CEO of Sunburst Hospitality, an owner/operator whose portfolio included nearly 100 hotels over the past decade.  Directly involved in over 250 hotel acquisitions, dispositions or new developments through his career, he is well versed in all transactional aspects.  He currently serves as Vice Chairman of the American Hotel & Lodging Educational Foundation & is the past Chairman of the AH&LA's Multi-Unit Operators Council.  His degree in Hotel Administration is from the University of New Hampshire and is a licensed real estate salesperson.


Mark von Dwingelo - Senior Vice President
Email:  [email protected]
Phone:  203-308-0142

Mark has over 30 years of experience in all facets of hospitality real estate.  Prior to joining HREC® he served as SVP for Jones Lang LaSalle Hotels & Hospitality Group.  Mark has sold over $500 million in hotel and resort assets during his 13 year career in the commercial real estate industry.  He has over 17 years of extensive hospitality consulting experience with L&H, PKF Consulting and KPMG.  Mark holds a BA in Hospitality Management from Florida International University.  He is a licensed Real Estate Broker in CT, PA and GA.



Tom Huegel - Senior Vice President
Email:  [email protected]
Phone:  404-671-9598

Tom Huegel is a Senior Vice President in the Atlanta office.  Tom brings 32 years of experience in hotel feasibility & development and franchising, most notably with Hilton Worldwide.  Huegel was Senior Director of Franchise Development where he oversaw all Hilton brands in the SE region.  Most recently, Tom was a partner with Hotel Assets Group in Atlanta where he was responsible for producing over $400M in asset sales.



Gregory Porter - Senior Vice President - Mortgage Brokerage
Email:  [email protected]
Phone:  760-438-4401

Greg is a senior mortgage specialist within the Capital Markets Group of HREC. With over two decades of commercial real estate finance experience, Greg has served in senior roles with lenders MC-Five Mile, Merrill Lynch, and Bear Stearns where he originated and underwrote over $1.6 billion of fixed and floating rate commercial real estate debt. Greg holds a Bachelor of Science degree in Business from the University of Southern California and is a licensed California Real Estate Broker.




Jeffrey Duni - Senior Vice President
[email protected]m
Phone:  303-267-0057 x111

Jeffrey Duni is a Senior 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.



Len Wormser - Senior Vice President
[email protected]
Phone:  850-830-4595

Len Wormser is a Senior Vice President in the New Orleans office.  Len has distinguished himself during the last 20 years as the most active and knowledgeable hospitality investment advisor and developer in New Orleans and the surrounding southeast regional market.  Prior to Len’s affiliation with HREC, he served as the Senior Managing Director of the NAI/Latter& Blum Hospitality Division, and concurrently served as the President of Sizeler Properties REIT (SIZ NASDAQ) taxable REIT subsidiary and Managing Member/General Partner in FW Development and I-10 Development LLC, during which time Len developed over 1,400 rooms.


Jaimin Patel - Senior Vice President
Email:  [email protected]
Phone:  813-635-0600 x1

Jaimin Patel comes to HREC Investment Advisors® 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.




Shane Skubis - Senior Vice President
Email:  [email protected]
Phone:  720-335-5941

Shane Skubis is HREC Investment Advisors® Senior Vice President in the Denver office. He began his hospitality investment career in 1992 with HFS as a Director of Development, he continued that role with IHG for 12 years. He has also brokered hotels for the Wilder Group, JLL, and Marcus and Millichap. Over the past 25 years, Shane has been involved in over 250 hospitality transactions regarding development, financing, franchise, management and disposition of hotels representing 21 brands in 49 states.



Ted Anka - Vice President
Email:  [email protected]
Phone:  312-925-2738

Ted Anka is a Vice President located in the Miami 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 Preston - Vice President
Email:  [email protected]
Phone:  773-255-1385

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
Email:  [email protected]
Phone:  312-399-9663

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.  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
Email:  [email protected]
Phone:  407-963-4840

Paul Sexton heads up HREC Investment Advisors®’s Orlando office.  During his 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.


Hank Wolpert, CHA - Vice President
Email:  [email protected]
Phone:  214-538-6637

Hank Wolpert is Vice President in the Dallas office.  He is responsible for real estate acquisitions and disposition.  A forty year veteran of the hospitality industry, Wolpert has served in a number of industry roles including Colliers International Hotels and its sister firm PKF Capital in brokerage, asset management and advisory capacities.  He attended the University of Maryland where he received his Bachelor of Science in Marketing, holds a Texas Real Estate License and is a Certified Hotel Administrator (CHA).



Michael Dube - Vice President
Email:  [email protected]
Phone:  303-267-0057 x113

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 & Marketing, Food & Beverage Director and several other operational positions throughout his career.  Mike has worked with a variety of brands including Sheraton, Holiday Inn, Adam's Mark and Wyndham, and with management companies including Interstate Hotels & Resorts, Destination Hotels & Resorts and The Hotel Group.  Mike holds a Bachelor of Science in Hotel Administration from the University of Nevada, Las Vegas and is a licensed Real Estate Broker in the State of Colorado.


John Siska - Vice President
  [email protected]
Phone:  603-494-3654

John Siska brings to HREC the combined experience of hotel debt placement, investment sales brokerage and hotel and resort operations.  During his 35 years in the industry, he has been involved in all aspects of the business ranging from capital formation, investment analysis, strategic planning and hotel operations.  John is a graduate of the University of Massachusetts Hotel School.  Additionally, he serves as an active member the University of Massachusetts Hotel School Leadership Board.



Peter Dolan - Vice President
Email:  [email protected]
Phone:  978-771-8251

In six years, Pete’s passion for success has led to establishing a portfolio of trusted clients throughout the United States.  He is known as a closer throughout the New England and Upstate New York markets.  At O’Connell Hospitality Group, he seamlessly launched and rapidly sold multiple million-dollar properties.  At HVS, Pete consulted with and successfully represented many industry leaders with tax appeals.  He grew up in the restaurant industry and worked in hotel operations with Ocean Properties.



Jo Ann Lonergan - Vice President
Email:  [email protected]
Phone:  978-777-8898 x2

Jo Ann Lonergan brings over 25 years of real estate experience in commercial real estate development, acquisitions, sales, marketing, leasing and property management.  Jo Ann’s hospitality experience runs the gamut of upscale hotel projects to resort development as well as acquisition and turnaround prospects for existing hotel facilities.  She spent 15 years in sales, and leasing of a broad spectrum of commercial property types, including hotels, office, industrial, R&D, site selection and mixed-use development projects at Commercial Facilities, Inc.




Lewis Thompson - Vice President
Email:  [email protected]
Phone:  646-535-5785

Lewis Thompson joined HREC as part of its Chicago expansion in the role of Vice President. His background includes work in finance and capital markets, most recently with Lincoln International Capital Management. Lewis graduated from Macalester College in St. Paul, Minnesota with a degree in Economics and Russian Language, and recently finished a master’s degree in Data Science/Predictive Analytics from Depaul University. His focus at HREC is client outreach and business development. Lewis takes pride in building honest, long-term client relationships, and in conducting business with the superior integrity and even-handedness that represent HREC's values.


Zane Varvel - Vice President
Email:  [email protected]
Phone:  312-914-2560

Zane Varvel joined HREC as Vice President in HREC's Chicago Office.  Prior to joining HREC, Zane was Vice President of Warmbrodt Hotel Investments, managing their Chicago office. During his career, Zane has successfully closed lodging transactions in 20 states for clients around the country, working for public and private institutions, as well as regional investors. He has successfully sold a variety of hotels, ranging from full service to select service.  Zane has unique combination of current dedicated lodging expertise combined with a past commercial real estate sales and leasing background, giving him a unique skill set required for complex hotel transactions.


Barry Tiggemann - Vice President
  [email protected]
Phone:  443-459-1608

Barry Tiggemann is Vice President of HREC Investment Advisors' Washington DC office and has been active in the hospitality industry for over 20 years. He has experience with a range of services from portfolio asset management to international hotel and mixed-use brokerage for properties ranging from $500,000 to $83 million. Barry is a graduate of Knox College with concentrations in Philosophy and Political Science and is completing studies for a dual degree Masters in Management program from Harvard University.



Melanie Milton - Director of Research & Administration
Email:  [email protected]
Phone:  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
Email:  [email protected]
Phone:  303-267-0057 x100

Ashley Hunt, based in HREC Investment Advisors® Denver headquarter 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.



Nate Shartar - Senior Associate
Email:  [email protected]
Phone:  303-267-0057 x115

Nate is a Senior Associate in the Denver office; he provides investment banking analysis and support for the brokerage service division. At HREC, Nate has analyzed over 100 hotels in excess of $1 Billion. Additionally, Nate has been the lead analyst on the disposition of 16 hotels which have closed for over $140 Million. Nate is a graduate from The Cornell Hotel School with a minor in Real Estate and a concentration in Law.



Phil White - Associate
Email:  [email protected] 
Phone:  303-267-0057 x104

Phil White is an Associate - Brokerage in the Denver office; he provides investment banking analysis and support for the brokerage service division.  Phil has held several positions in hospitality operations including; front desk agent, accountant and night auditor.  Phil also has experience interning with real estate property helping manage 50 plus properties.  Phil is a graduate from Michigan State University with a Bachelor of Arts in Hospitality Business, minoring in real estate investment management.



JJ Fives III - Associate
Email:  [email protected]
Phone:  303-267-0057 x117

JJ has held several positions in the hospitality industry ranging from coffee barista to hotel acquisition and development.  Prior to HREC, he gained a broader understanding of the hotel industry through internships with The Buccini/Pollin Group and The Leading Hotels of the World.  JJ graduated from the Cornell Hotel School with a minor in Real Estate, where he was also a three year starting linebacker and All-Ivy captain of the varsity football team.



Zander Cammarata - Associate
Email:  [email protected]
Phone:  303-267-0057 x120

Zander is an Associate – Brokerage in the Denver office; he provides investment banking analysis and support for the brokerage service division.  Zander has held positions in numerous hospitality departments including; sales, marketing, front office, and engineering.  He also has asset management experience in commercial real estate through an internship with Equity One in New York City.  Zander is a graduate of The Cornell Hotel School with a minor in Real Estate.




Maryna Zozulina - Associate & Affiliate Broker
[email protected]
Phone:  901-791-2564

Maryna is an Associate in the Memphis office and a licensed Tennessee Affiliate Broker.  She provides consulting and brokerage services.  Consulting experience includes market research, analysis, litigation support for a broad scope of consulting assignments including new hotel development, impact, disposition and competitive position studies. Brokerage services include buyer and seller representation.  Maryna began her career as an intern with Marriott International and held a number of positions in various departments within full-service Marriott and Hilton hotels including Front Desk, Operations, Food and Beverage, and Sales.  Maryna gained her Bachelor Degree in Tourism at Odessa National Economic University in Ukraine where she studied Hotel and Restaurant Management.


Jordan Canfield - Associate & Affilate Broker
Email:  [email protected]
Phone:  901-791-2564

Jordan is an Associate in the Memphis office, and provides consulting services with an emphasis on new lodging development throughout the country. Primary services include market analysis for feasibility, impact and competitive position studies and litigation support. Jordan has over ten years of service and management experience in the hospitality industry through various food and beverage outlets. She has a Bachelor in Liberal Studies from the University of Memphis, with concentrations in French and Hospitality. While attending the Kemmons Wilson School of Hospitality and Resort Management, Jordan obtained her Certification in Hotel Industry Analytics (CHIA) from the American Hotel and Lodging Educational Institute.



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