CHMWarnick Names Chad Sorensen Chief Operating Officer

Hotel Asset Management & Owner Advisory Firm Creates New Role in
Support of Continued Growth

BOSTON–(BUSINESS WIRE)–CHMWarnick,
the leading hotel asset management and owner advisory services company,
today announced managing director Chad Sorensen (CHAM, ISHC) has been
named chief operating officer. In his new role, Sorensen will be
responsible for overseeing the company’s asset management operations,
with a focus on continued improvement in business practices, while
leveraging cutting-edge technology to benefit the company’s clients.


“Our company has more than doubled in size over the last few years, and
adding Chad as our COO is one more way we will continue to bring the
most comprehensive and impactful asset management services to our
clients,” said Chad Crandell, CEO and managing director, CHMWarnick. “A
25-year hospitality industry veteran, Chad is a highly accomplished
asset manager and leader who in his new role as COO will build on the
growth and incredible momentum we have as a company. We continue to
deepen our bench strength with a series of promotions and new hires to
accommodate the nationwide expansion of our client portfolio. Chad has
been instrumental in helping us get to where we are today, and I have no
doubt he will continue to fuel our growth.”

With nearly three decades of experience, Sorensen has worked in
virtually every aspect of the lodging industry, from asset management to
guiding owners on a wide variety of lodging investment issues. A regular
speaker at industry events, Sorensen also is Chair Emeritus and current
Membership Chair of the International Society of Hospitality Consultants
(ISHC), serves on the Hotel Asset Management Association (HAMA)
Marketing and Finance Committees, sits on the Michigan State Real Estate
Investment Management Advisory Committee and was one of the first 25
designees of the coveted Certified Hotel Asset Management (CHAM)
worldwide. Additionally, after years of contribution, he served as
co-chair of ISHC CapEx 2018: A Study of Capital Expenditures in the
Hotel Industry
, the industry’s exclusive resource on hotel capital
expenditures and lectures regularly at Michigan State’s esteemed School
of Hospitality Business. Sorensen received his Bachelor of Science in
Hotel Restaurant and Institutional Management from Iowa State University
and his Master of Business Administration from the University of
Illinois.

“As COO, I look forward to overseeing our expanding portfolio and
supporting our world-class team of professionals as we continue to
define the gold-standard for asset management in the hospitality
industry,“ said Sorensen. “I’m confident in the strategy we have
developed, and in our dedicated team, to deliver the most comprehensive
and effective hotel asset management services available today.”

CHMWarnick has made several internal moves to remain at the forefront of
hotel asset management. Led by Celeste Cloutier Ledoux, CPA, CFO, and
managing director, CHMWarnick recently expanded its accounting services
to offer clients full owner-entity accounting capabilities. The company
also launched Proph+IT™, a revolutionary technology platform that
harnesses the power of data to optimize hospitality investments.
Industry leaders in the field of asset management, Craig Mason, Joe
DeFrank and Diane Tanner Fox have joined the senior team within the last
12 months, bringing the CHMWarnick team to 42 employees, of which seven
are Certified Hotel Asset Managers (CHAM), the most of any organization
in the industry. The company’s diversified portfolio includes numerous
distinct niches, including luxury and lifestyle, large convention
hotels, select-service portfolios, premium-branded, full-service hotels
and resorts. CHMWarnick currently is the development advisor on more
than a dozen hotels in North America totaling nearly $2 billion.

About CHMWarnick

CHMWarnick is the preeminent provider of hotel asset management and
owner advisory services. The company asset manages over 70 hotels
comprising approximately 29,000 rooms valued at roughly $15 billion and
is advising on development projects valued at over $2 billion.
CHMWarnick’s hotel
owner advisory services
include asset management, hotel planning and
development, acquisition due diligence, owner-entity accounting,
management/operator selection and negotiation, capital planning and
disposition strategy. CHMWarnick is the thought
leader in hotel ownership issues
and asset management practices, and
has nine offices nationwide, including locations in Boston, Chicago, New
York, Los Angeles, Phoenix, Fort Lauderdale, San Francisco, Honolulu and
Washington, D.C. For more information, contact 978.522.7002 or visit www.CHMWarnick.com.
For the latest company news, follow CHMWarnick on Twitter @CHMWarnick
and LinkedIn.

Contacts

Chris Daly, Daly Gray Public Relations
[email protected]
703-435-6293

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