Steve Carroll (pictured left) has been appointed Head of Hotels and Hospitality for the region, while David Ling (pictured right) will join as Managing Director. Source: CBRE
CBRE has made two senior appointments to its Asia Pacific hotels team, with Steve Carroll joining as Head of Hotels and Hospitality for the region, while David Ling joins as Managing Director.
Caroll previously served as Senior Vice President of Global Corporate Finance and Strategy as well as Global Head of Mergers and Acquisitions at Intercontinental Hotel Group (IHG). In this role, Caroll drove the investment strategies of the company, including the multiple brand acquisitions and US$1 billion (S$1.3 billion) sale of the InterContinental Hong Kong.
He was at LaSalle Investment Management prior to joining IHG.
Ling, on the other hand, previously served as Chief Investment Officer at Pan Pacific Hotels Group (PPHG), where he was responsible for investments within the international markets. Before his stint with PPHG, he served as M&C REIT Management’s Head of Strategic Development.
“We are excited to welcome Steve and David as we expand our global service offering and leverage existing teams to provide a full suite of hotel capabilities for our clients across Asia Pacific,” said Greg Hyland, CBRE’s Head of Capital Markets for Asia Pacific.
“They come with a well-rounded view of the hotel industry and a deep understanding of what global hotel owners, operators and investors look for while navigating a post-COVID recovery. The new realities created by the pandemic mean that clients will be best served with a comprehensive Hotels offering that includes investment, divestment, M&A, capital raising, debt, asset management and strategic advisory expertise.”
CBRE believes global hotel fundamentals will gradually recover in the next three years amid accelerating vaccination programmes across big economies.
“While the pandemic has created unprecedented cash-flow disruption for the industry, it is also creating opportunities for selective investors that recognise the potential of quality assets that stand to benefit from the rebound in business and leisure travel,” said Caroll.
“The pieces are all in place for this to happen, such as pent-up travel demand, combined with strong access to capital in the region.”
Cheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: firstname.lastname@example.org.