After closing four transactions in the United States in a two-week period and opening an office in Tokyo, Japan, Peter Barge, Chairman and CEO of Jones Lang LaSalle Hotels, further committed to the team`s aggressive expansion plan by announcing the creation of a new European business unit and strategic staff promotions.
According to Barge, “I have never felt as positive as I do today about our direction and our potential to better serve our clients and grow market share. I am told that owners are starting to take notice of Jones Lang LaSalle Hotels` global platform, which is soundly based on its 110 hotel professionals worldwide. By opening a separate Asset Management Unit in Europe, promoting key executives in the United States and expanding operations into Tokyo, we will continue to be a world leader in hotel investment banking services.”
Arthur Buser, who heads the West coast team from the Los Angeles office, has been promoted to Executive Vice President. Aside from growing the West coast business, Art`s other areas of responsibility include hotel asset management and hotel equity and debt marketing. Some of Art`s accomplishments include the sale of the Hyatt Richmond, the Hotel Nikko at Beverly Hills, the H™tel Plaza Athénée in New York (which he currently asset manages on behalf of the owner) and the sale of the Beverly Heritage, Silicon Valley, setting a price-per-key record in the area.
Thomas Fisher will now serve as Senior Vice President of Jones Lang LaSalle Hotels, New York. Since joining Jones Lang LaSalle Hotels in early 1996, Tom has been involved in the sale and/or financing of hotel and lodging assets throughout North America. He has worked on such assignments as the Bahamia, the Hyatt Richmond, the Hilton Greensboro and the Marriott Schaumburg Hotel.
John Strauss has been promoted to Vice President of Jones Lang LaSalle Hotels, Los Angeles. John was heavily involved in the sales and marketing efforts for the Aspen Club Lodge, the Vail Athletic Club Hotel & Spa, and the Hotel Nikko at Beverly Hills.
According to Arthur Adler, Managing Director of the Americas for Jones Lang LaSalle Hotels, “The recent success that we have had in closing transactions, combined with the quality of the hotels that we are currently handling, provides us with tremendous momentum. We are now arranging debt and equity transactions for urban and resort hotels in New York, Chicago, Los Angeles, Washington D.C, Hawaii and Aspen, among others. Our clients are seeking a firm that can source capital globally.”
In Europe, the growth of the advisory business has prompted the formation of a separate Asset Management business unit, which will be headed by David Bridge, recently promoted to Executive Vice President of Jones Lang LaSalle Hotels, Europe.
“In the Americas, we now have the people, structure and management team in place that I believe will deliver major growth,” continued Barge. “Our expansion in Asia Pacific and Europe will help us maintain our dominance in those regions.”
Jones Lang LaSalle Hotels, the leading hotel investment banking services group in the world, provides clients with value-added investment opportunities and advice. Jones Lang LaSalle Hotels` services include transactions, mergers and acquisitions, financial advice and capital raising, valuation and appraisal, asset management, strategic planning, operator assessment and selection and industry research. Jones Lang LaSalle (NYSE: JLL) is the world`s leading real estate services and investment management firm, operating across more than 100 key markets on five continents.