CBRE announced today that Tim Dick, a veteran of more than 30 years in hotel advisory, asset management and valuation, has joined the company as Senior Director of the company’s Atlanta Advisor Services practice and Co-Leader of is its Hospitality Asset Management team.
Based in Atlanta, Mr. Dick will work with Hank Fonde, Director of Asset Management and Investment Services for CBRE Hotels, to expand CBRE’s hotel asset management practice nationally. Services include representing hotel owners in areas such as revenue management, sales management, financial reporting, capital expenditure budgeting, branding and other matters related to optimizing the value of hotel real estate. With access to CBRE Hotels Research’s tools and reports, as well as the local market knowledge of CBRE’s Hotels Advisory practice, the company possesses unique capabilities in the asset management arena.
Over the past 18 years, Mr. Dick has asset managed more than 100 hotels and five portfolios in 12 countries. He is designated by the Appraisal Institute (MAI) and the Counselors of Real Estate (CRE) and is currently President of the Hospitality Asset Managers Association. He earned his doctorate in hospitality management from Iowa State University and his Master of Professional Studies degree in hotel administration from Cornell University.
“Tim brings a wealth of knowledge and experience to both our Atlanta hotels advisory practice and our national asset management team,” said Hank Staley, Southeast Managing Director of CBRE Hotels Advisory. “He has been an industry leader in the management and study of complex assets for many years. We are confident that the service and expertise our asset management team delivers to our clients will be unmatched in the industry.”
Mr. Dick comes to CBRE from hotelAVE, a third-party asset management firm where he served as Senior Vice President. Prior to that, he worked as a Managing Director with hotel investor Three Wall Capital LLC from 2011 to 2018 and as a Senior Vice President handling investment and asset management services for Trimont Real Estate Advisors from 2003 to 2011. Earlier in his career, he worked in hospitality asset management for Hardin Capital LLC and in consulting for PricewaterhouseCoopers.
“There is an increasing level of sophistication required to optimize the financial performance of hotel real estate,” said Mark Woodworth, CBRE Senior Managing Director and Head of Lodging Research. “As such, the role of the asset manager has become that much more critical. The addition of Tim to the CBRE team furthers our abilities to provide world-class services to our existing and prospective clients.”
Said Tommy Crozier, Leader of the CBRE Hotels valuation platform: "Tim is recognized as a thought leader in the hotel sector, and he brings a combination of academic and professional achievement that is virtually unmatched in the industry."
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.
