Dharmesh Patel has been appointed Executive Managing Director at Colliers International Hotels | USA in San Francisco
Colliers International today announced Executive Managing Directors Mike Mixer and Dharmesh Patel will lead Colliers International Hotels | USA. Colliers International Hotels specializes in hospitality real estate investment advisory services. Created in response to a growing need for commercial real estate and lodging investment services, particularly in the mid-tier segment, Colliers International Hotels provides brokerage services to hospitality owners and investors, financial institutions, funds and REITs. Given the improvement in fundamentals in the hospitality sector, the group's leadership sees this growth trend continuing in the coming year. Patel, a panelist at The Americas Lodging Investment Summit in January, expects transaction volume in the hospitality sector to continue its upward trend as REIT's focus on hotel properties in 2012. "REITs were very active purchasers of hotel product in the early part of 2011 before stocks ultimately dropped thirty to forty percent, causing them to pull back," Patel reports. "However, the hospitality industry is seeing a lot of improvement in occupancy and RevPar numbers, which should ultimately help drive pricing upward and cause stock prices to rise. REITs still have access to capital and will continue to be key players as we enter 2012."
