Andrew Broad Appointed SVP Development for Alliance Hospitality
RALEIGH, NC, March 2, 2009 - Alliance Hospitality Management, a leading hotel management firm located in Raleigh, NC with 6500+ rooms under management throughout the US, announced today that they have appointed Andrew Broad as Senior Vice President of Development for the Company.
Andrew Broad is a lodging industry deal veteran. With over fifteen years of franchise development, brokerage and capital market experience, Mr. Broad brings tremendous market knowledge to Alliance Hospitality. Andrew Broad comes to Alliance from HREC Investment Advisors where he was Senior Vice President specializing in hotel real estate transactions in the Northeastern and Mid-Atlantic United States. Mr. Broad has extensive experience in the lodging and real estate industries, having served as the primary broker on over 80 hotel transactions throughout the United States. He was responsible for all phases of the sales process including; sourcing listings, providing opinions of market value, creating marketing brochures, identifying qualified buyers, assisting buyers in their due diligence, and ultimately responsible for closing hotel real estate transactions.
Joseph Smith President of Alliance Hospitality said, "We are excited about the opportunities in the current market and expect with our appointment of Mr. Broad and the company's dedication to servicing our clients, Alliance Hospitality will continue to add to its portfolio of tier one hotels"
Prior to his experience with HREC, Andrew was an associate broker with Timm & Associates, Inc. a hotel brokerage firm located in Minneapolis, MN. In addition to being the primary broker on multiple transactions, Andrew assisted in the development of "Hotel-Broker.com," an Internet site designed to assist hotel owners and brokers to market their hotel listings to active buyers.
In addition to his decade plus experience as a hotel broker, Mr. Broad was a director of franchise development for Roof Inns, where he was responsible for the development of the Red Roof Inn Brand. He also was a director of franchise development for the Cendant Corporation, where he was responsible for the development of the Days Inn, Ramada, Howard Johnson, and Villager Lodge brands in the Midwestern US. Andrew is a graduate of Cornell University.
Broad said, "I am thrilled to join forces with the Alliance Hospitality Management in these trying times. The professionalism and creativity of the Alliance team is compelling." He concluded, "There is a real opportunity to help hotel owners through one of the most difficult markets in the last century."
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