Deloitte UK has launched an integrated hotel asset management team and appointed Alex Mavridis as its managing director.
Mavridis said hotels require specific management to generate optimal returns and many clients have been looking for specialist hotel asset management advice.
“The current economic crisis has seen many owners look to external advisers to assist with their businesses. While this industry has been established and flourishing in North America for many decades, it has still to gain an established foothold in Europe,” Mavridis said.
Deloitte global corporate finance leader for tourism, hospitality and leisure Nick van Marken said that given the pressure on performance due to the economic downturn, hotel asset owners are more than ever seeking to maximise cash flows to service existing debt and enable refinancing.
“This new service is at the heart of supporting owners maximise their cash flow and manage financing risk,” van Marken said.
The newly formed team consists of about 20 professional staff.