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.