Toronto – May 17, 2010 – CB Richard Ellis Limited (CBRE) today announced Bill Stone, one of Canada’s most accomplished hotel and resort specialty real estate professionals, has joined the company as Executive Vice President to lead CBRE Hotels’ Canadian Hotel practice. Mr. Stone is joined by colleagues Deborah Borotsik and Mark Sparrow and will also work closely with CBRE Hotels’ Sarah Segal and Brian Flood to provide enhanced services to clients across the country.
"Bill is an industry leader whose experience and success in the sale and financing of hotel and resort properties, and the provision of financial and structuring advisory services will benefit our hotel clients from coast to coast," said John O’Bryan, Vice Chairman, CB Richard Ellis Limited.
“Bill is an icon in the Canadian hotel industry. His experience and expertise are unmatched and commensurate with the needs of our institutional clients transacting business throughout Canada. We are very excited to leverage CBRE Hotels’ global footprint for the benefit our clients in Canada” said Kevin Mallory, Senior Managing Director, Practice Leader, CBRE Hotels.
Mr. Stone joins CBRE from Colliers International, where he was an Executive Managing Director of the Hotel group. He has been involved in over 250 Canadian hotel transactions, valued in excess of $4.5 billion, spanning single asset and portfolio sales, independent and branded properties, from two to five star assets. At CBRE, Mr. Stone will be responsible for driving production and will take on a leadership role in further developing the Hotel platform across Canada.
Ms. Borotsik, Associate Vice President, brings12 years of sales, marketing and due diligence experience in the hotel sector to CBRE Hotels. She will be directly responsible for working with owners to complete property and market due diligence and financial underwriting, property valuations and strategic disposition strategies, as well as executing effective marketing programs. Her experience extends across all asset classes throughout Canada.
Mr. Sparrow joins CBRE Hotels as a Sales Associate and will be responsible for executing disposition strategies, sourcing buyers, providing due diligence assistance and analyzing Canadian investment trends. He will be actively involved in assessing values for a variety of hotel and resort asset types, and will work closely with owners to develop tailored marketing programs.
“Adding professionals with the stature of Bill, Deborah and Mark to our CBRE Hotels platform will deliver real benefit for CBRE, our professionals and our clients," said Mr. O’Bryan. “And with over $300 million in listings already in their pipeline, this team has hit the ground running”.
Prior to his 22 years at Colliers, Mr. Stone was a hotel consultant with Laventhol & Horwath. He is a former President and board member of the International Association of Hospitality Accountants and sits on Ryerson University’s Campaign Cabinet, one of the fundraising catalysts for its Faculty of Business. Mr. Stone is Co-Chairman of the Annual Canadian Hotel Investment Conference which has donated more than $1 million to Ryerson University’s Hospitality and Tourism Management Program and he is a member of the International Society of Hospitality Consultants and an advisory board member of Hotelier Magazine.
CBRE Hotels is part of the world’s leading, full-service commercial real estate company and is dedicated to being the hospitality industry’s premier provider of sales advisory, finance, market research and valuation services to meet the capital needs of investors and individual owners of hotel properties.
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2009 revenue). The Company has approximately 29,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis 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. CB Richard Ellis has been named a BusinessWeek 50 “best in class” company for three years in a row. Please visit our Web site at www.cbre.ca.