MAXIM Hotel Brokerage
MISSION
We know that succeeding in this business involves more than just getting a buyer and seller to sign a contract. The success that our company has achieved has resulted from our ability to adapt and customize services to meet each client’s individual needs and earn their trust. We plan on building on our past success in the challenging times ahead by continuing to provide a full range of hospitality brokerage services, combining a high degree of personal service with the latest technological tools available to meet our client’s goals. Above all, we know that long term success depends on our fulfilling our pledge of honesty and integrity in every client relationship and in all of our dealings.
BACKGROUND
Principals of Maxim Hotel Brokerage have over 50 years of collective experience in hotel brokerage, working with all types of buyers and sellers. They have completed over 200 transactions of every type of hospitality property, ranging from highway motels to hotel sites to full service hotels to large Las Vegas Casinos. Since its founding in 2002, Maxim has specialized in the western United States with an emphasis on California, Arizona and in Nevada (all gaming markets including Las Vegas). In light of recent economic developments, it is expanding its work to include challenged and distressed properties nationwide. The company has built a solid foundation of clients of both buyers and sellers, ranging from local entrepreneurs to some of the most active institutions in the U.S.
CONTACT INFORMATION
Maxim Hotel Brokerage, Inc.
1303 Avocado Ave, Suite 225
Newport Beach, CA 92660
Telephone: 949.759.1155
Fax: 949.640.4691
Harry Pflueger
Direct Line 949.759.8739
Email: harry@maxim-hb.com
Skype: harrypflueger
Jack Carr
Direct Line 949.759.8741
Email: jack@maxim-hb.com
Joe Pinson
Direct Line 949.487.0839
Email: joe@maxim-hb.com
Skype: joepinson
Jack Carr Harry Pflueger Joe Pinson
2011 Fourth Quarter
While 2011 hotel market performance has shown improvement over 2010 across the country, the fundamentals for transaction activity remain challenged. Financing remains the most difficult obstacle to getting deals done. Sure, financing is available for cash flowing, stabilized deals but those hotels are generally not the hotels owners are trying to sell in this market. Financing for distressed or turn-around opportunities is still very difficult to obtain, and it is expensive if available at all. This dynamic results in a bid-ask spread in pricing that is difficult to overcome.
Earlier this year numerous large, high-profile transactions were completed. This set the mood that transactions (and perhaps property values) were on the rise again. However, further analysis would show that most of those transactions were completed by REITs, foreign investors, or other institutions that relied very little, if any, on debt. Since those investors generally sought the same type of full-service, urban hotels, competition caused values to rise for those particular assets. In the meantime, transaction activity and asset values for non-core, suburban, independent, limited service properties, or hotels that generally did not fit the preferred profile continued to languish. In summary there are clearly two distinct investment markets out there: a bull market for high-end, full-service, urban hotels in gateway markets; and a bear market for everything else.
Despite the challenges, fortunately we have completed several transactions this year. In this market it seems that "everything is for sale at a price," however it is difficult to sort through the opportunities to identify those that are actually deliverable at a price the market will pay. We work closely with our clients to bring real buyers to our Sellers, and real opportunities to our Buyers.
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