Florida Hotel Team

We've got your hotel investment needs covered


The Florida hotel market is as big and diverse as the third largest state. The Colliers Florida Hotel Team has expertise in submarkets statewide. Rich Lillis, Executive Vice President, heads Colliers' South Florida hotel practice and serves as co-leader of Colliers' Florida hotel practice. In addition to Florida, Rich advises hotel owners throughout the eastern U.S., and the Caribbean basin.

Kent Schwarz is the other co-leader of Colliers' Florida statewide hotel practice. With his many years in the commercial real estate business and eye for the nuances of the hotel market, he has a large portfolio of previous clients.

Colliers International’s hotel specialists offer transaction services to the lodging investment community. We take great pride in advising investors across all hotel and resort asset classes and markets. Colliers | Tampa Bay's unsurpassed lodging savvy and exceptional commitment and focus lead to highly successful transactions that exceed our client’s high expectations.


Our team


Rich Lillis

Executive Vice President | South Florida & National Director, Hotels | USA
Boca Raton

I am proud to provide strategic advisory and transaction services to owners, operators and developers of hotel and resort investment properties across the Eastern United States, with special expertise in Florida and the Caribbean.

As National Director of Colliers' Hotels group, I lead a nationwide team of lodging and transaction experts, sharing best practices and leveraging unique industry insights to deliver great results for their clients. In the dynamic hotel investment market, I provide valuable solutions to hotel owners and investors, special servicers, regional lenders, land owners and developers.  

My diverse background includes a wide range of experience in lodging and finance, paving the way for a unique perspective in hotel investment advisory. Today, I successfully manage numerous hotel, resort and land transactions, for private and institutional owners. I am a national lodging investment expert and frequently speak at industry conferences including ALIS, NYU and NABHOOD. As an integral member of Colliers Asset Resolution Team CART, I serve as “Lodging/Hotels Regional Team Leader” for a few key Special Servicer client relationships.

Kent Schwarz

Executive Vice President | Colliers International Hotels
Clearwater

AREA OF EXPERTISE

Kent Schwarz is Executive Vice President  of Colliers International Hotels and focuses on hotel and resort transactions in Florida, the eastern seaboard and the Caribbean.

 

Kent brings over 30 years of hotel and resort experience to Colliers International Hotels that includes 15 years of transaction specific experience. Prior to joining Colliers he headed the New York office of an international hospitality investment banking firm. Previously, Kent was president of a hotel ownership and management company specializing in full-service and condo-hotels. He also served as divisional manager for Hilton Hotels Corporation at Hilton’s world-headquarters.

 

Kent speaks extensively at investment conferences both in the United States and the Caribbean. He holds real estate broker licenses in multiple states including Florida and New York.

Scott Lorber

Client Services Specialist
Orlando

  • Thorough analysis and understanding of numerous industries, market  demographics, economic and consumer research utilizing a multitude of resources to formulate solution-based marketing strategies, collateral materials, proposals, presentations, marketing plans and reports
  • Have worked with national clients, commercial broker teams, senior level sales representatives, senior management
  • Managed an analyst team including hiring, training, coaching, development, and coordination of team work responsibilities
  • Strong Skill Set: Computer proficiency, customer service, writing, communication, creative, presentation skills, GIS mapping
  • Administrator and trainer for key industry software; CRM database management

 

John Wijtenburg

Vice President
Boca Raton

As Vice President of the Colliers Hotels group, I specialize in capital markets with a focus on hotel services and investment sales,  deepening our local practice group expertise.

I have a strong foundation in finance and commercial real estate experience spanning nearly a decade. Having launched my professional career as a Financial Economist with Fannie Mae in Washington, D.C., I have curated a strong analytical and financial-modeling mindset that I bring to my career in real estate. 

Most recently, I was with the Ft Lauderdale-based Insite Group, conducting underwriting, due diligence, and transaction closing for more than $250 million of commercial real estate. While there, I also led a team of associates and analysts in the sourcing, underwriting, and packaging of hotel, residential, and mixed-use investment properties. Prior to my roles with InSite, I was a member of the National Multi-Housing Group at Marcus & Millichap.

Featured properties


icon-user

No matching results...

Try zooming out to include more results.

Change your search criteria:

Remove last filter

Recent transactions


icon-user

No matching results...

Try zooming out to include more results.

Change your search criteria:

Remove last filter

Stay ahead with industry-leading research


icon-user

No matching results...

Try zooming out to include more results.

Change your search criteria:

Remove last filter

The Second Quarter of 2018 Hotel Market Report

Second quarter Florida transaction volume closely equated to the same period in 2017 with two significant differences. 2018 volume was heavily influenced by portfolio transactions like Brookfield AM’s acquisition of WoodSpring Suites and high profile/trophy asset sales. The largest transaction in the second quarter was the Hilton Fort Lauderdale & Marina, which sold for $174 million or $295,000 per key. The highest per key sale was the Ritz-Carlton Sarasota. It sold for $643,000 per key and included a beach club and golf course, which are offsite.

Download your complimentary copy and learn more about:

  • Florida transaction trends
  • Most active markets
  • Performance by city
  • Capital flows
  • Florida’s supply pipeline
  • Spotlight on Tampa downtown

The First Quarter of 2018 Hotel Market Report

First Quarter 2018 Florida hotel transactions (by dollar volume) were up substantially from first quarters of 2017 and 2016; up 75.1% and 85.4%, respectively. Even with significant new supply coming online, most Florida hotel markets experienced modest to moderate gains in occupancy during the first quarter of 2018 when compared with the same quarter in 2017. More impressively, almost all markets posted moderate to strong gains in Average Daily Rate.

After a pipeline decrease in 4Q 2017, Tampa/St. Petersburg once again experienced the largest pipeline decrease in the state during the first quarter. These pipeline declines reflect the opening of numerous hotels, which led to the market’s lackluster occupancy performance. The state of Florida also experienced an overall decrease in pipeline, though far more modest.

Download your complimentary copy and learn more about:

  • Florida transaction trends
  • Most active markets
  • Performance by city
  • Capital flows
  • Florida’s supply pipeline
  • Spotlight on Tampa downtown

The Year-End Q4 2017 Market Report

2017 dollar volume of Florida hotel transactions continued to moderate from its peak in Q1 2015. The average price per room also moderated, dovetailing with the U.S. trend. From late 2016 through 2017 Florida cap rates remained relatively stable while the U.S. continued its rise. 2017 closed with Florida cap rates being only 20 bps higher than the U.S. average.

The three South Florida markets continue to be the highest RevPar (revenue per available room) performing of the tracked major Florida markets. However, in 2017 Orlando become the highest occupancy market in Florida, with the highest occupancy recorded by any major Florida market in the past decade.

Download your complimentary copy and learn more about:

  • Florida transaction trends
  • Most active markets
  • Performance by city
  • Capital flows
  • Florida’s supply pipeline
  • Spotlight on Tampa downtown

Q3 2017 hotel market report

Hotel transaction volume in Florida has declined substantially since its post-recession peak in Q1-Q2 2015. Prior to the peak, Florida hotel cap rates were as much as 90 bps below comparable transactions throughout the U.S. In Q3 2015, Florida cap rates rose above the U.S. average and have consistently been 40 to 70 bps higher for the last eight quarters.

Florida’s key markets have a total of 416 new hotels in various stages of development including planning, final planning and in construction. The largest allocation of these new projects is in the greater Miami market which has already experienced a decline in both occupancy and ADR.

Download your complimentary copy and learn more about:

  • Florida transaction trends
  • Most active markets
  • Performance by city
  • Capital flows
  • Florida’s supply pipeline
  • Spotlight on Sarasota

Our mission statement

Colliers International’s hotel specialists offer services in three categories: hospitality research, consulting services and transactional services.

Our hospitality researchers tap a broad range of economic data, hotel income statements, sale prices, room occupancy and price points to build a clear picture of market drivers, demand and saturation. We build customized reports from our data warehouse to optimize operations, identify trends in hotel markets using same-store sales and uncover new insights on unit-level hotel performance.

For example, recent engagements have measured the potential for the development of themed hotels in major urban centers, evaluated workforce capacity to support operations and improved choices on expenses and capital improvements.

Our consulting division provides a range of services to the hospitality, real estate and tourism industry. This includes asset management and management company selection, valuation, market and financial feasibility studies, litigation support, tourism, recreation studies and conference center advisory services.

Our investment services professionals support each stage of the ownership cycle from acquisition to management to disposition. We collaborate to make each transaction seamless, tapping the right professionals at the right time with strategic advisory, debt placement, valuation and transactional expertise to anticipate challenges and manage the transaction with exceptional attention to detail.

Services

Relocation analyses and negotiations
Lease evaluations
Consolidations
Portfolio consulting
Subleases
Acquisitions
Dispositions
Strategic planning
Demographics
Site consulting
Labor analyses
Power studies
Comparative financial analyses
Construction
Post-occupancy services
State and local incentives negotiations

Cape Canaveral Residence Inn

The challenge
The disposition of Residence Inn Cape Canaveral was challenging due to the investment-grade asset located in a tertiary Florida market. The market was impacted by changes at nearby Kennedy Space Center, specifically the end of NASA’s Space Shuttle Program. The hotel’s stellar performance at 90% occupancy and remarkable profitability contrasted with its middling submarket, and signaled to prospective buyers the hotel had peaked. Profitability indicated a valuation significantly above replacement cost, which in Florida lower barrier to entry markets creates a price ceiling.

There was also the challenge with the announcement of competitive new hotel supply within the submarket.

The strategy
Colliers message to market was consistent and succinct: Residence Inn Cape Canaveral is an investment grade asset with rock-solid performance in a Florida growth market. The team targeted institutional investors and regional owner-operators.

A key component to the team’s strategy was the highlight on irreplaceable asset qualities, which includes: leading premium extended stay brand, exceptional custom 2006 built 150-suite hotel, acclaimed winner of Marriott’s prestigious Residence Inn of the year 2013 award, facilities current with all Marriott brand standards, barrier island location with restrictive zoning costly to develop.

Cape Canaveral – Cocoa Beach is also a Florida growth market with diversified lodging demand: corporate, military related, tourist and port related.

The results
Procured an institutional investors buyer, Capstone Development and Alex Brown Realty. Achieved $27 million price, highest price-per-room ($180,000) ever achieved in Brevard County Florida, a 25% premium over replacement cost. 

 

Video Sample - Cape Santa Maria Beach Resort


Connect with us

An unexpected error has occurred. Please try again.
You didn't check the "I'm not a robot" checkbox.

Your request has been submitted.

Someone will contact you shortly.