Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}

Cushman & Wakefield Further Strengthens Its Hospitality Team With Partner Hire

29/01/2024
  • Experienced valuer Mark Woolfitt re-joins Cushman & Wakefield from CBRE Hotels

London, 29 January 2024 – Global real estate services firm Cushman & Wakefield has further strengthened the specialist advice it provides to clients in the UK Hospitality sector by bringing Mark Woolfitt back to the firm.

An experienced hospitality valuation specialist who worked at Cushman & Wakefield for eight years earlier in his career, Woolfitt has re-joined the firm as a Partner having spent the last nine years as a Director in CBRE’s Hotels team.

Carl Ridgley, Head of Hospitality Valuation & Advisory at Cushman & Wakefield, said: “Mark is extremely well regarded and brings a huge amount of experience of providing valuation advice to the leading players in the UK hospitality industry. We’re delighted to welcome him back to Cushman & Wakefield where his expertise will significantly benefit our clients in making informed decisions.”

Cushman & Wakefield research revealed that more than £2.4bn of UK real estate was transacted by hotel investors in 2023. Over the last 12 months, Cushman & Wakefield’s hotel valuation team in the UK advised on several of the largest transactions that have occurred, valuing more than £1 billion for transactional purposes.

The overall annual volume of £2.4bn covered 149 properties across the UK, representing 14,255 individual rooms. While the annual volume of deals was down compared with 2022, the final quarter of 2023 (£745m) was 97% up on the same period 12 months earlier (£379m) with activity expected to continue to grow in 2024 as the debt market stabilises and demand growth continues. Operators, meanwhile, have enjoyed strong trading and overnight stays in hotels are projected to surpass 2019 levels in 2024.

Mark Woolfitt, Partner, Hospitality Valuation & Advisory at Cushman & Wakefield said: “Hospitality has proved its resilience as a sector which is reflected in operators’ buoyant trading performance. The sector remains attractive to investors because of the ability to enhance income in a higher inflation environment coupled with the long-term prospects of capitalising on structural shifts. Although the market experienced constrained deal flow last year, I expect to see an uptick in activity in 2024 as refinancing events take place and inflationary pressure subsides. I am looking forward to working with the team at Cushman & Wakefield and providing our clients with the specialist advice they need as the market evolves.”

Cushman & Wakefield, which provides a full range of services to hospitality developers, investors and operators, covered the outlook for the hospitality sector in its recent European Outlook 2024 report.

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.

MEDIA CONTACT

Richard Coleman, Head of Communications EMEA
Richard Coleman

Head of EMEA Communications • London

What's new

Mike Gorman
Cushman & Wakefield Continues Living Sector Expansion With Two Key UK Residential Capital Markets Hires

Cushman & Wakefield has announced two Residential Capital Markets hires in the UK as it continues to expand its Living sector team. 

Vikki McCrindle • 16/05/2024

25 Baker Street
Cushman & Wakefield Signs For New West End Office At Derwent London’s 25 Baker Street

Cushman & Wakefield has exchanged contracts on new office accommodation at 25 Baker Street, London, a brand new, Derwent London development. Baker Street will replace Portman Square as Cushman & Wakefield’s West End office from September 2025.

Richard Coleman • 08/05/2024

Gillian Bowman
Cushman & Wakefield’s UK Valuation & Advisory Team Welcomes Partner and Head of Sustainability

Gillian Bowman joins from Knight Frank to take on the role.

Vikki McCrindle • 01/05/2024

Insights

Residential-Market-Commentary-Hereo-Banner-Small
Article

Residential Market Commentary

There are early signs of optimism, with mortgage rates reducing, an uptick in mortgage approvals and completed sales, and annual house price growth moving into positive territory for the first time in over a year.
Millie Harper • 05/06/2024
vat in dilapidations
Article • Valuation

VAT in Dilapidations

VAT in respect of dilapidations is a complex subject with its own set of rules, regulations and case law. Opinions are usually divided, and much will depend on the circumstances.
Alex Charlesworth • 05/06/2024
Experiential Leisure banners webcard
Insights

Playgrounds of Tomorrow

A multitude of exciting experiential leisure venues that go beyond traditional food and drink offerings have taken centre stage within the city’s night life over recent years. Categorised as a blend of interactive games and exciting night-time venues, experiential leisure has become a key proponent of social lives in cities across the country, with the UK emerging as the premier market for prime competitive socialising operators. 
Dominic Bouvet • 03/06/2024
obsolescence-emea-webcard
Article • Sustainability / ESG

Shaping a Sustainable and Successful Fashion Brand

Introducing the C&W Sustainability Series, the first in a series of regular articles published throughout 2023 on ESG in Real Estate.
Jennifer Milne • 18/04/2023

CAN'T FIND WHAT YOU'RE LOOKING FOR?

Contact Our Team for a Personalized Consultation 
With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Cookies.
MORE OPTIONS
Agree and Close
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All
SAVE SETTINGS