TORONTO — Brian Stanford, senior managing director of CBRE Hotels Canada, says he will have to change his tie from PKF blue to CBRE green, and that the rebranding of PKF Canada continues the process set in motion last August.
On Feb. 1, CBRE Group announced that it had completed rebranding and integration of PKF Consulting USA, PKF Hospitality Research and PKF Consulting Inc. (Canada) into its portfolio of global real estate services. CBRE had acquired PKF in the U.S. in 2014, followed by PKF Canada on August 1, 2015.
“It's all part of the global effort by CBRE to be dominant in the hotel space,” Stanford, whose previous title was national managing director at PKF, told CLN. “David Larone and I have 40 and 35 years of experience respectively, and we built a good brand with a strong presence. But CBRE has 400 professionals in 60 offices — PKF doesn't come close to that.”
“We're happy to have an infrastructure that's fully dedicated,” said Bill Stone, executive vice president CBRE Hotels, adding that he had the opportunity to see the integration and collaboration of CBRE and PKF first hand at internal meetings before the American Lodging Investment Summit (ALIS) last month. “We had a large group of 50 people, and it was a very productive meeting.”
He added that on the client side, the response has been really good, almost without exception. “It's become more and more apparent, the depth and breadth of the entire team. We've had deeper discussions at high levels of the organization.”
Both Stone and Stanford stressed the lateral integration of the capital markets and brokerage side of the business headed by Stone, and the hotel valuation and advisory side that includes Stanford, Larone and Brian Flood, senior managing directors on the consulting and advisory side. And there is also vertical integration with the U.S. practice in particular.
At times, one side of the business will do projects that are confidential from the other, maintaining a Chinese wall between the two sides of the business, Stone said.
The Canadian operation also includes a new tourism and leisure practice that includes Fran Hohol and Rebecca Godfrey, looking at the public sector, tourism and remote communities.
Cindy Schoenauer is the director in the Vancouver office.
While the Vancouver CBRE and PKF are all located at 1021 W. Hastings Street in Vancouver, the Toronto offices of PKF are expected to move to the CBRE location at 145 King St. W., Suite 600 in about four months.
Stanford noted that CBRE Hotels is the only practice group with a distinct logo. “We have 25 professionals now, and that makes us by far and wide the largest advisory brokerage practice and the most qualified.”
To view the new website: