CBRE announces new direction for Perth hotels division

Perth, 19 January 2016 – CBRE has announced the appointment of leading property professional Ryan McGinnity to lead its highly successful Hotels division in Western Australia.

Mr McGinnity has been promoted to the role of Director, where he will assume leadership of CBRE Hotels in Perth, responsible for the firm’s strategic direction in the Western Australia hotel, leisure and pub market.

With more than 13 years’ experience in the hotel market, Mr McGinnity is one of Perth’s leading property professionals, having been involved in some of the state’s most significant hotel transactions and named Commercial Salesperson of the Year at the 2014 REIWA Awards and 2015 REIA Awards.

The new leadership structure will allow industry stalwart and CBRE Hotels' longest serving employee David Kennedy to focus increased attention on new business development and client care as well as maintaining his involvement in Perth’s largest hotel transactions.

CBRE Hotels Senior Director Wayne Bunz said Mr McGinnity’s appointment would help further bolster the team’s already strong position in the Perth market.

“This important leadership change will position CBRE for future growth in the Perth hotel market, enabling us to capture the high level of Asian investment in the accommodation sector, as well as focusing on growing momentum in the pub market,” Mr Bunz said.

“Appointing someone of Ryan’s calibre to lead our Perth division is a great endorsement of our business, and we are confident his energetic approach and outstanding skillset as one of the state’s leading agents will ensure the team’s growth in 2016 and beyond.”

Mr McGinnity said he was looking forward to further building on CBRE Hotels’ already strong position in the market.

“I am thrilled to be leading the team in Perth and building on our success to continue achieving exceptional outcomes for our clients,” Mr McGinnity said.

“We expect there to be a lot of transaction activity in the Perth market this year, with a lot more international interest, particularly from Asian investors, looking to acquire a presence here.”

Mr McGinnity said the low Australian dollar would continue to attract offshore investment in the hotel market in 2016.

“Australia is a safe haven to invest, with offshore buyers eyeing up quality hotel assets as they look to take advantage of our current economic climate,” Mr McGinnity explained.

“In particular, Perth offers compelling investment fundamentals, with more attractive returns than in the Asian and eastern seaboard markets. Western Australia also has the added drawcard of being in close proximity to Asia, which puts the market at the forefront of investment for Asia groups.”

Growth in the student accommodation sector, coupled with the completion of several major projects over the coming years, would also support Perth’s hotel market.

“The flurry of new developments underway across Perth will feed the hotel and pub sector in 2016, with a number of new entrants looking to be part of city’s exciting future,” Mr McGinnity added.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.