Tom Gibson has also joined the team in a Director role, with the dual appointments serving to further bolster CBRE Hotels’ platform and capabilities.
Mark Coster, CBRE’s Pacific Head of Capital Markets, said; “Michael and Tom are extremely well regarded by our clients and bring skill sets that are highly complementary to that of our existing team. These appointments will reinforce our ability to provide a market leading service offering to our clients in the accommodation sector, where we envisage considerable future opportunities.”
Mr Simpson was previously Managing Director of Savills Hotels. He joined CBRE this week after 7 ½ years at Savills overseeing major hotel investment sales, joint ventures and structuring hotel and mixed-use developments.
Concurrently, Tom Gibson has re-joined the CBRE Hotels team after 6 ½ years in JLL’s Hotels & Hospitality Group. Mr Gibson held Vice President and Senior Vice President roles in JLL’s Australian and US businesses, following three years at CBRE Hotels.
Mr Simpson said the hotel and tourism sector was facing considerable uncertainty as a result of the COVID-19 pandemic. However, he noted that the industry had been quick to rebound from past local, regional and global geopolitical and economic events such as SARS and the Global Financial Crisis.
“While hotel investment volumes have been low in 2020 and few investment grade hotels are being publicly marketed in Australia and New Zealand, we’re anticipating an acceleration in activity as the year progresses,” Mr Simpson said.
“Key industry players are working hard behind the scenes to execute off market trades and various consolidation opportunities are being explored, involving larger industry players and global private equity groups.”
Mr Simpson added; “CBRE’s collaborative approach, global reach and cross-border connectivity will ensure that CBRE Hotels is positioned at the forefront of this new wave of transaction activity, with the ability to provide a seamless service to our domestic and offshore clients.”
The CBRE Hotels team is the largest in the Pacific region, with representation in Sydney, Melbourne, Brisbane, Perth and Auckland.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.