C&W global expansion continues with hospitality deal

Real Estate Weekly, June 20, 2007

Cushman & Wakefield announced the acquisition of two leading specialist hotel consultancies to launch Cushman & Wakefield Hospitality, Asia Pacific.

Responding to an increasing interest and demand from clients for integrated real estate services in the hospitality and leisure sector across the region, and fuelled by the boom in tourist and business travel, Cushman & Wakefield has acquired the business of Atrium Hospitality Solutions, managed by Rutger Smits and Ron de Wit and formerly operating as HVS International, and Hospitality Strategies Asia Pacific, headed by Michael Flynn. With a long successful working partnership, the two firms each bring a full team of qualified hospitality professionals with extensive experience across the region.

The acquisition will provide hospitality consulting and valuation services to clients throughout Asia Pacific. The new group will be able to leverage a powerful global platform of tools and services to help meet the increasingly complex needs of clients.

Michael Thompson, CEO, for Cushman & Wakefield Asia Pacific commented: "This is an important announcement for Cushman & Wakefield at a time where the hotel sector is thriving, especially in China and India where we are witnessing phenomenal growth.

"As part of Cushman & Wakefield's continuing global expansion, this acquisition builds on the firm's existing hospitality teams in Europe and the United States, and significantly expands its presence and market share across Asia Pacific.

"With the establishment of a hospitality team in Asia Pacific, Cushman & Wakefield now has a global hospitality service line, that can deliver fully integrated solutions to the hospitality sector, including market and strategic advisory services, valuation and transaction services, as well as financial structuring and capital solutions."

Rutger Smits, managing director for Cushman & Wakefield Hospitality Asia said: "We are delighted to be joining Cushman & Wakefield, and building a full service hospitality business line across Asia Pacific. We look forward to providing our clients with insight and understanding of market dynamics in this sector and leveraging this knowledge to add value to both their hospitality business and the underlying real estate."