PKF Capital starts South Atlantic division

MIAMI - PKF Capital is expanding into the U.S. South Atlantic and the Caribbean. The brokerage firm is offering transactional and investment advisory services to the hotel and resort community in a region it calls one of the world’s greatest travel destinations.

Heading up PKF Capital’s Miami-based operation will be investment sales brokers Richard Lillis and Kent Schwarz, both just named senior managing directors of PKF Capital. Both brokers have international experience.

Lillis served as managing director of Horwath HTL’s Miami office since 2001. Prior to that, he managed Ocwen Financial’s commercial REO portfolio as well as managing hotels with New Castle Hotels, Doral Hotels and Resorts and Marriott International.

Schwarz is a Hilton veteran whose 30 years of hotel and resort experience includes 15 years of handling transactions with a New York-based international hospitality investment firm.

Both men have conducted dozens of transactions for the major hotel and resort brands and many independent properties.

“It is important to remember that Florida is a very vibrant hotel market, but like all markets, it is not immune to economic cycles,” said Schwarz.

“Certainly we are experiencing declining RevPAR; however, Florida’s overall RevPAR performance has historically been about 30% above the national average. Even with this downturn, Florida is still expected to perform well above the national average. Yes, there will be notable challenges for many owners and lenders, but those very challenges create buying opportunities for new investors.”