Jones Lang LaSalle Hotels has appointed Mark Brannigan as Senior Vice President (Asset Management) to spearhead the growth of the group’s hotel asset management business in Asia.Jones Lang LaSalle Hotels currently provides asset management services to a portfolio of full service, upscale hotels representing more than US$1.5 billion in asset value in Asia Pacific with established teams in Japan, Australia and now in Singapore. The group’s clients include investors such as private equity investment funds, institutional investors, closely-held private and real estate investment partnerships, and hotel owner-operators.
“As asset managers we seek to assist hotel owners or investors to realise the full value of their hotel assets through a continuous process of value creation and enhancement. We strive to achieve this by optimising operational, financial and capital efficiencies of the hotel with the ultimate goal of maximising profits and investment returns for the owner and investor,” said Brannigan.
He explained, “The changes in ownership structure of the hotel industry in recent years have created new challenges for hotel operators and owners. Where the hotel ownership and operational responsibilities are separated, there is strong attention on investment returns on the part of the owner which in turn leaves a smaller margin for error for the operator. As the eyes and ears of the hotel owner, we offer an external perspective to the hotel and act as the bridge between asset owners and operators.”
Where the hotel operator also owns the real estate asset, there is a growing emphasis on maximising the asset value in real terms instead of only optimizing the operational performance of the hotel. “Traditional hotel operators that also own the hotels realise there is value in focusing on what they do best: managing great hotels and developing extraordinary hotel experiences for their guests. As the asset managers, we concentrate on enhancing the capital value for the asset,” added Brannigan.
Globally, Jones Lang LaSalle Hotels currently provides asset management services to a portfolio of hotels with a value of over US$3 billion.
Brannigan has over 25 years experience in the hospitality industry. Prior to joining Jones Lang LaSalle Hotels, he was an internal asset manager for Australia-based Lend Lease at the Hyatt Regency Coolum and Novotel Twin Waters Resort in Queensland. Before this, he worked for InterContinental Hotels Group and SPHC for 16 years in various roles with the last eight years as a General Manager. Brannigan will be based in Singapore in his new role.