BOSTON--(BUSINESS WIRE)--CHMWarnick, the leading hotel asset management and owner advisory services company, today announced managing director Chad Sorensen (CHAM, ISHC) has been named chief operating officer. In his new role, Sorensen will be responsible for overseeing the company’s asset management operations, with a focus on continued improvement in business practices, while leveraging cutting-edge technology to benefit the company’s clients.
“Our company has more than doubled in size over the last few years, and adding Chad as our COO is one more way we will continue to bring the most comprehensive and impactful asset management services to our clients,” said Chad Crandell, CEO and managing director, CHMWarnick. “A 25-year hospitality industry veteran, Chad is a highly accomplished asset manager and leader who in his new role as COO will build on the growth and incredible momentum we have as a company. We continue to deepen our bench strength with a series of promotions and new hires to accommodate the nationwide expansion of our client portfolio. Chad has been instrumental in helping us get to where we are today, and I have no doubt he will continue to fuel our growth.”
With nearly three decades of experience, Sorensen has worked in virtually every aspect of the lodging industry, from asset management to guiding owners on a wide variety of lodging investment issues. A regular speaker at industry events, Sorensen also is Chair Emeritus and current Membership Chair of the International Society of Hospitality Consultants (ISHC), serves on the Hotel Asset Management Association (HAMA) Marketing and Finance Committees, sits on the Michigan State Real Estate Investment Management Advisory Committee and was one of the first 25 designees of the coveted Certified Hotel Asset Management (CHAM) worldwide. Additionally, after years of contribution, he served as co-chair of ISHC CapEx 2018: A Study of Capital Expenditures in the Hotel Industry, the industry’s exclusive resource on hotel capital expenditures and lectures regularly at Michigan State’s esteemed School of Hospitality Business. Sorensen received his Bachelor of Science in Hotel Restaurant and Institutional Management from Iowa State University and his Master of Business Administration from the University of Illinois.
“As COO, I look forward to overseeing our expanding portfolio and supporting our world-class team of professionals as we continue to define the gold-standard for asset management in the hospitality industry,“ said Sorensen. “I’m confident in the strategy we have developed, and in our dedicated team, to deliver the most comprehensive and effective hotel asset management services available today.”
CHMWarnick has made several internal moves to remain at the forefront of hotel asset management. Led by Celeste Cloutier Ledoux, CPA, CFO, and managing director, CHMWarnick recently expanded its accounting services to offer clients full owner-entity accounting capabilities. The company also launched Proph+IT™, a revolutionary technology platform that harnesses the power of data to optimize hospitality investments. Industry leaders in the field of asset management, Craig Mason, Joe DeFrank and Diane Tanner Fox have joined the senior team within the last 12 months, bringing the CHMWarnick team to 42 employees, of which seven are Certified Hotel Asset Managers (CHAM), the most of any organization in the industry. The company’s diversified portfolio includes numerous distinct niches, including luxury and lifestyle, large convention hotels, select-service portfolios, premium-branded, full-service hotels and resorts. CHMWarnick currently is the development advisor on more than a dozen hotels in North America totaling nearly $2 billion.
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, Chicago, New York, Los Angeles, Phoenix, Fort Lauderdale, 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.