WASHINGTON & BOSTON & PHOENIX--(BUSINESS WIRE)--CHMWarnick, the preeminent asset manager and business advisor to the hospitality industry, today appointed Joe DeFrank (CHAM) to the position of senior vice-president and asset manager. DeFrank will join Craig A. Mason (CHAM), executive vice president, in the company’s recently established Washington, D.C. Metro office and further cement the company’s presence in the mid-Atlantic region.
“Throughout his nearly 35-year career in the hospitality/real estate industry, Joe has remained laser focused on achieving ownership’s objectives, from increasing cash flow to maximizing long-term value, which aligns perfectly with our own hotel asset management philosophy,” said Ken Wilson, managing director and co-chairman, CHMWarnick. “Joe also is a longtime member of the Hospitality Asset Managers Association (HAMA) and has earned the prestigious Certified Hotel Asset Manager (CHAM) designation, making him the sixth CHMWarnick professional to hold the standard-bearing title. No other industry entity can boast as many accredited hotel asset managers. His expertise and experience undoubtedly will help our company expand and solidify its presence in the mid-Atlantic.”
Previously, DeFrank was a senior-vice president of asset management for Host Hotels & Resorts and was responsible for a portfolio of approximately 40 hotels with 20,000-plus rooms throughout the southeastern and central regions of the U.S., as well as Mexico and Latin America. The portfolio included a diversified mix of full-service Marriott, Ritz-Carlton, Hyatt, Hilton, Accor and independently branded hotels. DeFrank also held several prominant positions within Marriott International for nearly a decade and a half, culminating in director of finance. He earned his Bachelor of Science degree in accounting with an emphasis in finance from the Smeal School of Business at Pennsylvania State University. DeFrank also received a Certificate in Strategic Hospitality Management from Cornell University’s Professional Development Program. He is a member of the Marriott International Westin Brand Ownership Advisory Board and the AH&LA’s Food & Beverage Committee and Sustainability Committee.
“The opportunity to both work for the most respected third-party hotel asset management and development advisory company in the United States and rejoin Craig, with whom I’ve worked in the past, as he gears up the company’s mid-Atlantic and South Atlantic presence was one I could not pass up,” noted DeFrank. “For the past decade and a half, I have worked exhaustively throughout the region, amassing local insights and determining best practices that ultimately benefit owners as they seek to maximize the return on their investment.”
CHMWarnick is the preeminent provider of hotel asset management and owner advisory services. The company asset manages over 70 hotels comprising approximately 29,000 rooms valued at roughly $15 billion and is advising on development projects valued at over $2 billion. CHMWarnick’s hotel owner advisory services include asset management, hotel planning and development, acquisition due diligence, owner-entity accounting, management/operator selection and negotiation, capital planning and disposition strategy. CHMWarnick is the thought leader in hotel ownership issues and asset management practices, and has nine offices nationwide, including locations in Boston, New York, Los Angeles, Phoenix, Fort Lauderdale, Minneapolis, San Francisco, Honolulu and Washington, D.C. For more information, contact 978.522.7002 or visit www.CHMWarnick.com. For the latest company news, follow CHMWarnick on Twitter @CHMWarnick and LinkedIn.