—Sept. 16, 2015—Sperry Van Ness International Corporation
(SVNIC), one of the most innovative commercial brokerage firms in North America with 190 franchise offices serving 500 markets, has joined forces with Raleigh, North Carolina-based Howard Perry and Walston Commercial and Hotel Group (HPW Commercial and Hotel Group) to launch SVN Hotels™
, a national hotel brokerage franchise headquartered in Raleigh, North Carolina to work with 25+ advisors in more than 10 offices throughout the United States.
SVN Hotels will specialize in working with owners and investors of all sizes from large institutions who own multiple properties to private owners who own single assets. Sanjay Mundra, who currently serves as Chief Executive Officer of HPW Commercial and Hotel Group, will serve as Chief Executive Officer of the SVN Hotels™ brand with Don Walston as Chairman.
"We are confident the creation of SVN Hotels will enhance the services we provide to our investor clients by providing a national platform and premier expertise in one of the fastest growing segments of commercial real estate," said Kevin Maggiacomo, President and Chief Executive Officer of SVNIC. "HPW is the perfect fit for our firm with its superior marketing, innovative technology and long-standing track record in the hotel industry.”
For more than 40 years, the team of HPW Commercial and Hotel Group has been involved in the development, investment, financing, brokerage, management and consulting of a significant number of hospitality projects throughout the United States.
"The hotel investment sales industry is a $40 billion market and we are confident that our new platform can capture five to seven percent of the market over the next five years equating to approximately $3 billion in revenue," said Mundra. "Our goal is to continue to grow SVN Hotels, adding premier advisors in key markets across the United States."
SVNIC is the only commercial real estate firm that markets all of its properties nationally to a 100,000-member brokerage and investment community. Producing $9 billion in sales and leasing transactions in 2014, SVNIC shared commission fees with co-operating brokers in approximately 80 percent of those transactions. Working with its own competitors to bring the highest bidder to the table allows SVN Advisors to see gains from closing more deals in less time. Advisors also reap the benefits of the SVNIC cloud-based enterprise system that enables easy, on-the-go access to property listings and client contacts; real-time data sharing; and software that allows for the assembly of professional proposals and marketing materials.
Sperry Van Ness International Corporation (SVNIC), a commercial real estate brokerage franchisor headquartered in Boston, MA, is one of the industry’s most recognized brands based on the annual Lipsey Top Brand Survey. With more than 190 locations serving 500 markets, Sperry Van Ness Commercial Real Estate Advisors provide sales, leasing, and property management services to over 6,000 clients worldwide. SVN® Advisors also represent clients in auction services, charter schools, corporate real estate, distressed properties, golf & resort, hospitality, industrial, investment services, land, medical, multifamily, office, retail, self storage and single tenant investments. All Sperry Van Ness® offices are independently owned and operated. For more information, visit http://www.svn.com.