Business Details
32 Years
experience
Trusted Hospitality Real Estate Advisory Services Nationwide
HREC Hospitality Real Estate Counselors has been a leading national hotel and casino advisory firm since its founding in 1994. Specializing in property sales, debt financing, consulting, appraisal, and litigation support, the company focuses exclusively on the hospitality industry. With a team approach, the entire firm commits to achieving client goals through hands-on experience gained as hotel owners, developers, managers, and lenders. The firm's intellectual capital includes over 100 published articles on hotel real estate and finance, with staff members teaching at top real estate organizations. Their creative problem-solving methodology addresses complex lodging real estate challenges, supported by insider access to industry contacts and opportunities unavailable elsewhere.Operating from 23 offices nationwide, HREC maintains a coast-to-coast presence while preserving local market expertise. The company's professionals have completed over $15 billion in real estate sales and financings, including more than $6 billion in debt placements. Their service offerings include single asset sales, portfolio transactions, debt placement, equity placement, and portfolio recapitalizations. HREC's reputation as trusted advisors stems from decades of uncompromising commitment to quality and integrity, serving some of the largest investors and financial institutions in the hospitality sector.
Services
Property Sales
Mortgage Brokerage
Consulting Services
Appraisals
Litigation Support
Debt Placement
Equity Placement
Portfolio Recapitalizations
Market Studies
Advisory Services
Details
- Year established: 1994
Highlights and features
- We offer a team approach with the entire firm committed to achieving client goals
- Our professionals have hands-on experience as hotel owners and developers
- We have published over 100 articles on hotel real estate and finance topics
- Our creative problem-solving methodology addresses complex lodging real estate challenges
- We maintain insider access to industry contacts and opportunities unavailable elsewhere
Services
Property Sales
HREC specializes in hotel property sales with over 65 years of combined experience among senior principals. The firm has arranged more than 600 hotel industry sale transactions valued at over $9 billion. Our team leverages extensive industry contacts and market knowledge to maximize returns for clients through strategic positioning and targeted marketing campaigns.
Mortgage Brokerage
The capital markets group offers comprehensive mortgage brokerage services with access to national and regional lenders. Having completed over $6 billion in debt placements, including $925 million since 2020, we structure customized financing solutions. Our relationships with mezzanine and subordinate debt providers enable tailored capital solutions for hospitality investments.
Consulting Services
HREC provides strategic consulting for hotel investments including feasibility studies and market analysis. Our advisors combine operational expertise with real estate knowledge to deliver value-driven perspectives. Services include sale vs. refinance analysis, investment due diligence, and litigation support for complex hospitality matters.
Appraisals
The firm offers professional appraisal services backed by certified experts with deep industry knowledge. Our valuations incorporate current market conditions, capital trends, and operational performance metrics. The team provides accurate assessments for both limited-service and full-service hotel properties across diverse market segments.
Portfolio Recapitalizations
HREC specializes in portfolio recapitalization strategies to optimize investment returns. Our approach combines market analysis with creative problem-solving to reposition assets effectively. The team has extensive experience in restructuring complex ownership arrangements and implementing value-added strategies for hospitality portfolios.
People
Michael Cahill
CEO & Founder
With over 30 years in hospitality real estate, Michael Cahill founded HREC in 1994. He has arranged more than 600 hotel transactions valued at over $9 billion. His expertise spans all facets of the industry as an investor, developer, and advisor.
Scott Stephens
COO & Senior Principal
Scott Stephens brings extensive hospitality industry experience as COO and Senior Principal. With over 65 combined years in the field alongside Michael Cahill, he specializes in complex transactions and strategic advisory services for major investors and institutions.
Mark Mitroka
Senior Vice President
Mark Mitroka serves as Senior Vice President in Austin, Texas. He contributes specialized market knowledge and transaction expertise to HREC's brokerage services. His regional focus complements the firm's national platform and industry-wide relationships.
Patrick Culligan
Principal
Patrick Culligan operates as Principal in Memphis and Nashville. He provides specialized advisory services with deep regional expertise. His experience includes market studies, portfolio analysis, and strategic consulting for hospitality real estate investments.
Len Wormser
Senior Vice President
Len Wormser serves as Senior Vice President in New Orleans. With extensive local market knowledge, he contributes to HREC's national presence through specialized insights into Gulf Coast hospitality real estate. His expertise includes property valuation and transaction management.
Questions
What hospitality real estate services does HREC offer?
HREC provides hotel and casino property sales, mortgage brokerage, consulting, appraisals, litigation support, debt placement, equity placement, and portfolio recapitalizations through our national network of experts.
How experienced is HREC in the hospitality industry?
Founded in 1994, our principals have over 65 combined years of experience and have completed 600+ hotel transactions valued at over $9 billion, including $6 billion in debt placements.
What makes HREC different from other real estate firms?
We combine hands-on hospitality experience as owners and developers with a national platform. Our team's unique perspective includes operational expertise, creative problem-solving, and insider industry access.
Which geographic markets does HREC serve?
We maintain 23 offices nationwide including major markets like Atlanta, Boston, Chicago, Dallas, Denver, Las Vegas, Los Angeles, Miami, New York, Phoenix, and San Francisco with local market expertise.
Can HREC assist with complex hotel financing needs?
Yes, our capital markets group has arranged $6+ billion in debt placements, including $925 million since 2020, working with national lenders and mezzanine debt providers to structure customized solutions.
What types of hotel properties does HREC handle?
We work with all property types including limited-service, full-service, urban, resort, and specialty hotels. Recent transactions include brands like Marriott, Hilton, IHG, and independent properties.
