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PRODUCT NEWS
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| Hotel research firm PKF Consulting USA acquired by CBRE |
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| 18 Jul 2014 . BY Helen Andrews |
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| The acquisition will not affect PKF's research operations / Shutterstock / Pressmaster |
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Consultancy and research firm PKF Consulting USA – whose hospitality branch carries out the annual Trends in the Hotel Spa Industry study – has been acquired by global real estate services and investment company CBRE Group.
The PKF Hospitality Research (PKF-HR) division produces comprehensive hotel spa financial information for properties in the US. The latest Trends in the Hotel Spa Industry was based on 125 properties in the US. The research indicates a 6.6 per cent increase in average RevPAR in 2014.
A spokesperson for PKF-HR told Spa Opportunities that the acquisition will have no effect on its research or the researchers' roles.
PKF-HR’s financial benchmarking, custom market research and econometric forecasting services mean the new owning company, CBRE Group, will be able to provide its clients – real estate owners and investors – with access to the latest industry predictions.
“We are pleased to welcome the PKFC and PKF-HR teams of 62 professionals – led by David Arnold, Thomas Callahan and Mark Woodworth – who have joined CBRE in 13 offices in the US,” said Robert McGrath, senior director for CBRE.
CBRE, whose headquarters are in Los Angeles, US, 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.
PKF Consulting USA serves many audiences, including hotel owners and operators, financial institutions, real estate developers, investors, product and service providers to the industry in addition to governmental agencies. Its services comprise real estate appraisals, litigation support and expert testimony, market and financial feasibility studies, spa and wellness consulting, purchase price allocations, asset recovery services and impact studies.
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