CBRE Group, Inc. has acquired PKF Consulting Inc. (PKF Canada), an advisory, consulting and research firm in Canada specializing in the Canadian hospitality and tourism industries.
PKF Canada serves a range of clients in Canada, including hotel owners and operators, financial institutions, real estate developers, investors, product and service providers to the industry, and governmental agencies.
Its key services to the Canadian hospitality industry include market and economic feasibility studies, real estate appraisals, operational reviews, asset management, management contract negotiations and acquisition due diligence. The firm has offices in Toronto and Vancouver.
The acquisition follows CBRE’s purchase in July 2014 of PKF Consulting USA, which provides similar advisory and consulting services for the U.S. and global hospitality sector.
“Like CBRE, PKF Canada’s professionals greatly value collaboration, integrity and the highest standards of client service excellence,” said Thomas B. McDonnell, president, Americas Valuation & Advisory Services, CBRE. “Combining their deep knowledge and insight into the Canadian hospitality sector with CBRE’s valuation and transaction expertise will significantly enhance our service offering and support our ability to create real advantages for hospitality clients worldwide.”
“CBRE is energized about the opportunities in the hospitality sector and the addition of PKF Canada adds top talent to our deep bench of sector expertise,” said Kevin Mallory, senior managing director and global head for CBRE Hotels.