In January, real estate and investment organization CBRE Group completed its rebranding and integration of PKF into its portfolio of global real estate services. The integration positions CBRE as a powerful organization for hotel owners and operators, financial institutions, real estate developers, investors and other hospitality-related entities to tap into its services, including advisory, consulting, valuation and research.
Around the time of the combination, Hotel Management caught up with Kevin Mallory, senior managing director and global head of CBRE Hotels, and Scott Biethan, senior managing director of the Pacific Northwest region of CBRE, during the ALIS conference for their takes on the overall health and future of the global hospitality industry, as it related to investment, development and fundamental strength.
As you'll see in the video below, foreign capital's dominance in transactions is highlighted, brought about by volatility in home countries, such as China, and safe harbor in locations such as the U.S.. That was a trend in 2015 that should continue in 2016. Meanwhile, there remains a trail of cautiousness among lenders, which could impact deals and the development of new product, and we all wait to see how the public equity markets will shake out, and if it's enough to induce the REITs back into the game.