German firm Engel & Völkers Investment Consulting has launched a professional hotels consultancy division to pool its global activites in the hospitality sector.
The move comes in response to what the firm describes as 'an evolving market that has moved hotels, an asset class known for its intense advisory needs, increasingly into the focus of domestic and international market players'.
As a subsidiary of Engel & Völkers Investment Consulting, Engel & Völkers Hotel Consulting (EVHC) will be headed by managing partners Andreas Ewald (pictured) and Kai Wolfram.
'EVHC is the plausible next step in our development along the lines of our long-term strategy, and perfectly complements the existing E&V network. We are aware of a vast potential in this lines of business, and are convinced to have the right team on the starting blocks,' commented Kai Enders, Member of the Management Board of Engel & Völkers.
Ewald, who has over 18 years experience in international hotel and property consultancy, is launching the business with a team of six advisers.
According to Engel & Völkers, transaction volumes for Germany's hospitality market hit a record €4.4 bn in 2015, double the figures achieved in 2011.
