(Denver, CO): Industry deal veteran, Geoff Davis, has teamed with Denver based Hospitality Real Estate Counselors, Inc.® (HREC®) to form HREC Investment Advisors, a hotel industry brokerage and investment banking firm. Geoff Davis and Mike Cahill (President/Founder of HREC) are principals in the new firm. HREC Investment Advisors is headquartered in Denver, Colorado and Geoff will serve as Managing Principal and company President.
Geoff Davis, with over 20 years of hotel investment advisory experience, has closed in excess of 130 transactions throughout the United States with a market capitalization in excess of $1.45 billion, with transaction sizes ranging from $1 million to $200 million. His experience transcends traditional brokerage, and includes extensive experience in debt and equity placements, development, direct investment and property management. Previously, Geoff was the co-founder and President of Hospitality Investment Counselors, Inc., and was one of the founders of Gemstone Hospitality, a highly regarded resort and boutique hotel management company. He has also had direct responsibility for the development of 14 hotels, and has been a direct investor in several hotels.
HREC Investment Advisors will continue to focus on the traditional sale of hotel and resort assets, but is also currently active in refinancing debt on a number of existing hotels, placing debt and equity on hotel development projects, and in the equity recapitalization of a number of hotel portfolios, including arranging equity joint ventures, and placing mezzanine debt and equity on both existing and proposed hotel projects.
In commenting on the new firm, Geoff Davis stated, In HREC and Mike Cahill, I found a hotel advisory group with a tremendous reputation for integrity, knowledge of our industry and an understanding of what happens below the net income line, in that hotels exist to make a profit and are both real estate and an operating business. As such, investment advisors such as our firm must have the expertise and experience to assist our clients in navigating through the complex world of capital markets, understand how ownership issues affect value, and be able to use that knowledge to maximize value and returns for our clients.
Mike Cahill, MAI, CHA, President of Hospitality Real Estate Counselors, Inc. states, I am thrilled to be partners with Geoff in HREC Investment Advisors. Geoff is nationally recognized as one of the lodging industrys premier brokers and has a strong history of maximizing value for his clients and getting the deal closed.
Key areas of focus for HREC Investment Advisors include:
The sale of individual hotel assets, as well as hotel portfolios;
Debt and equity placement for existing and new hotel properties;
Investment banking services, including: placing and structuring equity for joint ventures and recapitalizations, mezzanine debt and equity placements, and strategic investment planning and implementation.
Says Davis, Challenging market conditions call for experience and creative solutions, this firm has the resources, creativity and integrity to deliver on that promise.
The new venture represents the result of growth initiatives for HREC, which also recently formed HREC Asset Managementsm with highly regarded hotel asset manager and developer Mark Tobin. The move allows HREC to provide three formidable business units to its clients, including: core consulting and valuation, asset management, and now brokerage and investment banking. The growth of HREC makes the firm a major player in the hotel investment advisory business, and provides a unique blend of principal experience and competencies.
Hospitality Real Estate CounselorsSM (HREC®) is one of the nations premier real estate advisory organizations and specializes exclusively in the lodging and gaming industries. HREC is comprised of three closely integrated business units (Hospitality Real Estate Counselors, Inc.®, HREC Investment Advisorssm, HREC Asset Managementsm) that work in a synergistic, team-oriented manner to offer unparalleled experience, intellectual capital and creative problem solving to its clients.
6444 South Quebec Street, Suite 212
Englewood, CO 80111
Fax: (303) 267-0105