Monday, September 21, 2009

Al Calhoun Rejoins Hodges Ward Elliott as Senior Managing Director, Select Service Division

Hodges Ward Elliott, Inc. (HWE), the nation’s premier hotel brokerage and investment banking firm, today announced that Al Calhoun has rejoined the firm as senior managing director, select service division.

“Our relationship with Al goes back nearly two decades, and it is a delight to welcome him back to our firm after a nine-year sabbatical,” said Mark Elliott, principal of Hodges Ward Elliott. “His experience in the select service segment is unparalleled, and he adds tremendous depth to our 10-person select service team. Combined with our full-service and Europe divisions, we now have the deepest and most experienced hotel transaction team in the industry.”

In his new role, he will be responsible for leading and growing HWE’s select service division, including brokerage, investment and advisory services. He will work closely with Anthony Falor, who will remain managing director of the select service division. HWE has closed more than $2 billion in select service transactions in the past five years. Select service currently represents approximately 30 percent of HWE’s transaction volume.

Calhoun has nearly 30 years experience in the hotel industry. He began his career in hotel development and held corporate positions with both Marriott International, Inc. and Choice Hotels International. He joined HWE in 1991 as a select service hotel specialist and left to form Thompson Calhoun Fair in 2000, which was subsequently acquired by Jones Lang LaSalle Hotels in 2005.

An expert in both single asset and portfolio transactions and advisement, Calhoun has personally been involved in more than 500 hotel transactions. In his career, he has represented the vast majority of major hotel ownership groups in their select service hotel transactions.

“Select service transactions, especially those under $10 million, are getting done and financing is available,” Calhoun said. “However, transactions have to be more solidly structured, and pre-existing relationships with lenders are critical. HWE has long-standing relationships with everyone from local and regional banks to institutional lenders, which greatly assists us in completing transactions.

“We expect to see a steady rise in select service transactions over the next 12 to 36 months with portfolios coming to market at a much faster pace than in the past two years,” he noted. “Based on previous cycle experience and the amount of valuation inquiries we are receiving, deal flow is beginning to gain momentum.”

Calhoun is a member of the CCIM Institute and the American Hotel and Lodging Association. He is a graduate of Georgia State University and has published post graduate research.

Hodges Ward Elliott is world renowned for representing hotel asset and real estate investment opportunities spanning all categories and markets. HWE is consistently ranked the leading hotel brokerage and investment firm with greater than 30 percent market share of hotel transactions, according to independent outside sources. Since 1990, HWE has structured the sale of more than 1,500 hotels, totaling over 300,000 rooms and $33 billion of lodging transactions.
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