CBRE announced today that industry veterans Al Calhoun and Mark Fair have joined CBRE as vice chairmen in the Hotels group, serving clients in select-service hotel investment sales and financing.
In their new roles, Mr. Calhoun and Mr. Fair will work closely with Kevin Mallory, global head of CBRE Hotels, and CBRE Capital Markets leadership to further penetrate institutional segments of the lodging sector throughout the Americas. Mr. Calhoun and Mr. Fair will be based in CBRE’s Atlanta office.
“Al and Mark are the premier select-service portfolio intermediaries in the country,” said Mr. Mallory. “I’m pleased to have them join our evolving and growing institutional hotels practice.”
Throughout their careers, Mr. Calhoun and Mr. Fair have handled the sale of thousands of hotels. They specialize in arranging portfolio transactions of select-service hotels, along with the disposition of small to medium-sized lodging companies. Select-service hotels offer less amenities than full-service hotels, such as meeting space, retail offerings or food and beverage.
“The CBRE hotel platform offers world-class hotel research and numerous experienced hotel brokers located in major markets around the country,” said Mr. Calhoun, Vice Chairman with CBRE Hotels. “We believe this existing select-service hotel infrastructure is the strongest in the business. When coupled with our select-service portfolio expertise, we can offer our clients a level of service and execution that no other firm can deliver.”
Mr. Fair, Vice Chairman with CBRE Hotels, added, “Select-service hotels have outperformed most other hospitality asset classes in the economic downturn and are expected to recover much more rapidly. Accordingly, we foresee an unprecedented investment opportunity in this space over the next several years.”
Mr. Calhoun previously served as Senior Managing Director of JLL’s Hotels & Hospitality Group, where he spent more than 15 years managing and growing the select-service division. Prior to that, he was founding partner of Thompson Calhoun Fair, the first hotel brokerage firm focused exclusively on the disposition of select-service hotels. In addition, he’s had roles with Hodges Ward Elliot, Choice Hotels International and Days Inn of America.
Mr. Fair also arrived from JLL, where he spent more than 15 years as Senior Managing Director with the firm’s Hotels & Hospitality Group. He has represented numerous institutional and private clients in the disposition of more than 1,000 hotels, totaling in excess of $12 billion. He also was a founding partner of Thompson Calhoun Fair and once served as Senior Vice President of Westinghouse Credit Corporation, where he directed the more than $3 billion hospitality asset management, loan workout and disposition practice. In addition, he held roles at Hodges Ward Elliot and Days Inn of America.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
