CBRE HOTELS’ AMERICAS RESEARCH ESTIMATES AIRBNB USERS SPENT $2.4 BILLION ON LODGING IN THE U.S. OVER THE PAST YEAR

Airbnb Impact on Hotel Market Greatest in New York, San Francisco, and Miami

Los Angeles– February 2, 2016 – Airbnb’s presence in key markets throughout the U.S. is growing at a rapid pace, with users spending $2.4 billion on lodging in the U.S. over the past year, according to analysis from CBRE Hotels’ Americas Research.

Over the study period of October 2014 – September 2015, more than 55 percent of the $2.4 billion generated was captured in only five U.S. cities (New York, Los Angeles, San Francisco, Miami and Boston), represents a significant portion of the lodging revenues in these markets.

CBRE Hotels compiled select information for hundreds of U.S. markets to assess the relevancy of this sharing platform to the traditional hotel industry. From this data, the firm has developed an Airbnb Competition Index. This measure incorporates a comparison of Airbnb’s Average Daily Room rates (ADR) to traditional hotel ADR’s; the scale of the active Airbnb inventory in a market to the supply of traditional hotels, and the overall growth of active Airbnb supply in that market, into a measure of potential risk. New York was identified as the number one domestic market at risk from the growth of Airbnb, with an Airbnb Competition Index of 81.4, followed by San Francisco, Miami, Oakland and Oahu.

“It seems reasonable that Airbnb will impact hotels in two ways,” said R. Mark Woodworth, senior managing director of CBRE Hotels. “For existing hotels, the growth of average daily rates will most likely be curtailed. The fluid nature of Airbnb’s supply suggests that traditional hotel’s historic price premiums realized during peak demand periods will be mitigated. The other impact may be on new hotel construction. Airbnb may be an impediment to traditional hotel construction and could reduce traditional hotel supply growth in many markets.”

In addition to a national analysis on Airbnb’s impact on the lodging industry, CBRE Hotels has compiled city level reports highlighting the annual performance of Airbnb and compared it to relevant lodging industry data. These reports detail the estimated performance of Airbnb units covering 59 U.S. cities, encompassing 229 submarkets. Contrary to popular belief, Airbnb is not always the lowest priced option for those seeking temporary accommodation. The average rate paid for an Airbnb unit was $148.42, which is 25 percent higher than the average hotel rate of $119.11 reported by STR, Inc.

“By comparing hotel revenue per available room to the number of active Airbnb units in a particular location, it appears that hosts respond to market incentives, such as a higher room rental rate and excess demand. The presence of these factors causes more Airbnb units to appear in the market,” said Jamie Lane, senior economist of CBRE Hotels. “This holds true at the macro level–where markets with higher ADRs and occupancy have the highest number of active Airbnb units, and on the micro level–where we see a spike in the number of active Airbnb units during major events such as the Super Bowl and New Year’s Eve.”

More information about our national findings can be found HERE. Reports detailing the estimated performance of Airbnb facilities covering 59 U.S. cities, encompassing 229 submarkets, may be found at https://store.pkfc.com.

CBRE Hotels is a specialized advisory group within CBRE providing brokerage, valuation, consulting, research and capital markets services to companies in the hotel sector. CBRE Hotels is comprised of over 375 dedicated hospitality professionals located in 60 offices across the globe.

About CBRE Group, Inc.

CBRE 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 and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE 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. Please visit our website at www.cbre.com.

Hospitality Ventures Management Group Names Susan Weigel Guimbellot Vice President of Revenue Management and Channel Strategy

HVMG Adds Revenue Leadership Position to Corporate Team

ATLANTA, Ga. (February 1, 2016) –Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel management company, today announced that Susan Weigel Guimbellot has joined the company as vice president of revenue management and channel strategy to accelerate top-line growth for the company’s third-party managed and owned hotels.

“We continuously seek to enhance our bench strength with seasoned hoteliers to support our current portfolio along with our aggressive expansion, which includes a meaningful development pipeline, as well as ongoing renovation/repositioning projects, in order to optimize returns,” said Robert S. Cole, HVMG president and CEO. “Revenue management plays such a vital role in achieving superior market share and profitability. Susan’s diversified experience and innovative programs will give our portfolio a further competitive advantage, especially as the industry cycle continues to mature.”

In her new role, Susan will oversee revenue management and channel strategy at both the property and corporate levels. Prior to joining HVMG, her most recent position was vice president of revenue management & distribution for Denihan Hospitality Group. Previously, she spent more than 10 years with American and Delta airlines and eight years with Starwood as vice president, channel intelligence, and senior director of distribution strategy & metrics.

“Susan has enjoyed great success maximizing revenue for some of the world’s most renowned, international hospitality and travel companies,” Cole added. “Her expertise ranges from luxury to select-service and from the world’s most highly regarded brands to independent, boutique hotels. Targeted marketing, using cutting edge technology and tools, will further differentiate our properties and allow us to balance occupancy and room rate to achieve superior RevPAR.”

About Hospitality Ventures Management Group

Hospitality Ventures Management Group is a privately owned, fully-integrated hotel investment and management group that specializes in turning around and repositioning underperforming hotels, as well as maximizing the performance of stabilized hotels. It currently operates 31 hotels in 15 states totaling 6,553 guest rooms. HVMG develops, owns, and operates independent and boutique hotels and resorts, as well as full-service, select-service and extended-stay hotels under the Hilton, Marriott, Hyatt, and IHG brands. Visit www.hvmg.com for more information.

Urgo Hotels & Resorts Adds the Lake George Courtyard by Marriott to Growing Portfolio of Managed Hotels

BETHESDA, Md. /Lake George, N.Y., February 1, 2016 –Officials of Urgo Hotels & Resorts, a hotel company that develops, owns and operates hotels and resorts in the U.S., Canada and the Caribbean, today announced that the company has signed a management agreement to operate the 119-room Courtyard by Marriott in Lake George, N.Y. Currently under construction, the hotel is scheduled to open in summer 2016.

“We believe 2016 will be a record year for Urgo, as we expand our third-party managed portfolio and our wholly-owned/joint-venture portfolio,” said Mathew Jalazo, Urgo Hotels’ director of development. “We will open eight hotels currently under construction this year and have an addition six hotels in the pre-construction pipeline. Based on the strong relationships we have developed with our existing lenders and investor/owners, we expect to continue to expand our portfolio of hotels over the coming years.”

The hotel will open in the four-season destination in the summer of 2016, encouraging year-round tourism for the village. Urgo Hotels will advise ownership during the remainder of the construction and development of the hotel.

Situated across the street from Lake George in the heart of downtown, the hotel will offer direct access to a lakefront beach. The property’s amenities include a custom-designed lobby, a rooftop lounge overlooking Lake George and two restaurants, one of which has an outdoor terrace and panoramic views of the lake. Other amenities include 38 suites with lake and mountain views and 10,000 square feet of meeting space with lakefront views.

Spacious guestrooms will provide functional space for work, relaxation, comfort and sleep. The rooms are stylishly and thoughtfully designed, featuring a work area and high-speed internet access, helping guests stay both connected and comfortable. Other amenities include a 48-inch TV, ergonomic chair, safe deposit box and mini-bar. The property will offer a well-equipped exercise room, indoor pool, outdoor dining, and a spa.

About Urgo Hotels & Resorts

Urgo Hotels & Resorts is a Bethesda, Md.-based hotel company that develops, owns and/or operates distinctive and unique hotels and resorts in major markets and resort locations in the U.S., Canada and the Caribbean. The current portfolio is comprised of 38 hotels with more than 5,500 rooms, including eight under construction and an active pipeline of acquisition and development projects. The company develops, builds, and operates for its own account, as well as provides third-party management and asset management services. Additional information about the company may be found at www.urgohotels.com.

Matt Engel Promoted to Managing Director of T.R. ENGEL Group, LLC

BOSTON, January 27, 2016—Officials of T.R. ENGEL Group, LLC (TRE), a Boston-based, entrepreneurial hotel advisory and asset management firm, today announced that Matt Engel has been promoted to managing director from senior vice president.  In his new role, he will provide a pivotal role in TRE’s global advisory and investment services assignments.  He will remain managing principal for T.R.ENGEL Group–Middle East, LLC (TRE-ME), and oversee the company’s investor development in both Qatar and within the GCC region.

“Matt is approaching a decade with TRE and has held asset management and advisory services positions of increasing responsibility and accountability,” said Tom Engel, president.  “In addition to his success in establishing our presence as the only hotel advisory firm licensed by the Qatar Financial Center Authority, he leads the asset management teams for three of our most important assignments:   the Marriott Crystal City, Renaissance Schaumburg Hotel and Convention Center, and the Munich Marriott Hotel, which combined generate more than $90 million in annual revenues.  This promotion reflects his growing contributions to our global TRE clients and the growth of the company.”

With nearly 15 years’ experience in diversified real estate, hotel asset management and capital markets, Engel previously asset-managed the Calpers Hotel Portfolio on behalf of the Procaccianti Group, a leading independent owner/operator.  Over the past five years, he has provided investors asset management services for such recognized hotels as the South Shore Harbor Resort & Conference Center, Hamburg Marriott Hotel and the Westchester Marriott Hotel, as well as advisory services for the SLS Hotel South Beach and the NoMad Hotel.  Engel received his Bachelor of Science in Public Policy from Hamilton College.

About T.R. ENGEL Group, LLC (TRE)

T.R. ENGEL Group, LLC, is a privately held, Boston, Mass., U.S.-based lodging advisory, asset management and real estate investment firm. The company currently is engaged in hospitality advisory projects and hotel asset management throughout the U.S., Europe and the Middle East. TRE offices are located in Boston, the Greater Philadelphia area and Doha, Qatar.   Additional information can be found at www.trengelgroup.com.

Questex Hospitality Names Glenn Haussman Editor-at-Large of Hotel Management

New Position Will Focus on Special Reports and Co-hosting Questex Hospitality Investment Conferences and Hosted Buyer HOTEC Events

New York City, New York., Jan. 12, 2016—Officials of Questex Hospitality Group, a division of Questex, LLC, the world’s largest multi-media organization dedicated to travel and lodging, today announced that Glenn Haussman has been named editor-at-large of Hotel Management, the leading provider of hospitality industry news, analysis, trends, finance, business, design and people for hotel-motel management. Haussman will be responsible for providing editorial content and direction for the magazine, as well as serving as a co-host and moderator of the group’s ongoing HOTEC conferences for hoteliers.

“Glenn is one of the most respected names in hospitality journalism, having worked for some of the industry’s most prominent publications,” said David Eisen, Hotel Management’s editor-in-chief. “In addition to starting the world’s first podcast dedicated to the business of hotels, he has consistently been at the forefront of the intersection between journalism and technology. His addition to our team opens an entirely new, invaluable level of insight to our readers.”

Prior to joining Hotel Management, Haussman was editor-in-chief at Hotel Interactive. He has covered all aspects of hospitality, including hotels and resorts, restaurants, casinos and cruise ships. He is sought out by other journalists for his expertise and has been quoted in such leading publications as The New York Times, USA Today, Washington Post, MSNBC.com, CNN.com, Chicago Tribune and many more. Haussman also has served as adjunct professor at New York University, teaching classes in Consumer Behavior at the Tisch Center for Hospitality, Tourism, and Sports Management. Haussman will continue his wide-ranging interests in the industry, including the launch of an all-new podcast, as well as consulting, public speaking and industry education for companies.

“Glenn’s pedigree in hospitality is top-notch and matched only by his personality, which shines through in both his editorial and his vibrant stage presence,” said Alexi H. Khajavi, Questex senior vice president. “We are confident that his in-depth knowledge, enthusiasm and gravitas will further enable our media and event brands to not just cover the what, but more importantly the why of critical issues within the hospitality industry. Having just celebrated our 140th anniversary in 2015 as the leading hospitality industry publication, we now are relaunching our digital websites in Q1 2016, all of which will keep our readership abreast of the latest trends, strategies and tactics.”

“Hotel Management has been on the forefront of hospitality journalism for my entire nearly 20-year career, and I look forward to adding my skillset to their already impressive team,” Haussman added. “I see this as a partnership between leading hospitality brands. Questex is known for innovation, and I believe our strengths complement one another.”

About Questex Hospitality + Travel

Questex LLC, headquartered in Newton, Massachusetts, with offices worldwide, is the world’s largest multimedia organization dedicated to travel and lodging. Questex drives revenue, productivity and value-creation for these related industries through strategic investment and deal-making forums, powerful lead-generation tools, interactive online business solutions, world-class events and industry-leading publications: Hotel Management, Hotel Design and IHIF Investment News, and their online sites, hotelmanagement.net, hoteldesignmagazine.com, and ihif.hotelmanagement.net.

Questex Hospitality Group, a division of Questex LLC, operates a variety of market-leading events throughout the Americas, Europe, the Middle East, Africa and Asia-Pacific region, including the International Hotel Investment Forum (IHIF) Summit Series: the International Hotel Investment Forum, held annually in Berlin; North America Hotel Investment Conference (NATHIC); Mediterranean Resort & Hotel Real Estate Forum in Madrid (MR&H); Russia & CIS Hotel Investment Conference (RHIC); Turkey & Neighbours Hotel Investment Conference (CATHIC); and Asia Pacific Hotel Investment Conference (APHIC).