CBI Offers Hospitality Division

LOS ANGELES-Commercial Brokers International (CBI) has launched a new national hospitality division, embracing restaurants, nightclubs, motels, boutique/budget hotels and other properties. The new division will be headed by Dan Fagan, who will carry the title of VP and be based in Los Angeles. CBI is offering location services and acquisitions/dispositions for owners, landlords and tenants.

CBI managing partner George Pino says the firm is looking to capitalize on a mid-sized market niche, with foreign investors in particular lining up for mid-sized hotels and motels. “Travel is up a little more and people are feeling better about the economy,” Pino tells GlobeSt.com. “We’re seeing a lot (of investors) coming in, particularly with the Asian markets. There’s a really big push on hotels and motels.”