CBRE Hotels in Asia Pacific (APAC) has announced two senior appointments: Steve Carroll as Head, and David Ling as MD for the firm's hotel and hospitality investments.
Both based in Singapore, the move comes as CBRE Hotels seeks to "expand our global service offering and leverage existing teams to provide a full suite of hotel capabilities for our clients across Asia Pacific," said Greg Hyland, Head of Capital Markets for APAC.
Added Hyland: "The new realities created by the pandemic mean that clients will be best served with a comprehensive Hotels offering that includes investment, divestment, M&A, capital raising, debt, asset management and strategic advisory expertise.”
Carroll was most recently IHG’s Senior Vice President, Global Corporate Finance and Strategy, as well as its Global Head of M&A. Key milestones in the role included driving multiple brand acquisitions and the US$1 billion sale of the InterContinental Hong Kong.
Ling joins CBRE from Pan Pacific Hotels Group (PPHG) where he was Chief Investment Officer, responsible for investment in the international markets. Prior to PPHG, Mr Ling was Head of Strategic Development with M&C REIT Management.
"While the pandemic has created unprecedented cash-flow disruption for the industry, it is also creating opportunities for selective investors that recognise the potential of quality assets that stand to benefit from the rebound in business and leisure travel," said Carroll, echoing CBRE's expectations for global hotel fundamentals to gradually recover over the next three years.
Ling also noted that recovery will look different across markets, where "the post-pandemic landscape for hotels will likely focus more than ever on aspects such as driving lifestyle and memorable experiences, Environmental, Social, and Governance (ESG) alignment, digitalisation, and ensuring health and safety".