JLL Hotels Names Andrea Grigg to Newly-Created Role
The newly created role will allow JLL Hotels to better connect hotel advisors around the globe.
JLL Hotels and Hospitality Group has named Andrea Grigg as head of global asset management. JLL created the role to better align global asset management portfolios and connect hotel advisors around the globe.
As head of global asset management, Grigg will report directly to Hotels Global CEO Gilda Perez-Alvarado. The asset management group manages 110 hotels and resorts under the umbrella of 45 brands and a total of 29,000 rooms. The portfolio has a total value of more than $10.3 billion. It is the leading hotel asset management firm globally.
The appointment is a promotion for Grigg, who currently serves in JLL’s Hotels & Hospitality Asset Management practice as head of the Americas. She will continue to serve in that role, where she collaborates with the heads of the EMEA and Asia Pacific regions to negotiate operator selection and manage contracts. She has more than 20 years of experience in the hospitality industry, and she has worked with some of the largest hotels and resorts in the Americas region.
JLL has been busy shaking up its hotel and hospitality team. Last month, the firm promoted Perez-Alvarado to Global CEO of its Hotels & Hospitality Group. Perez-Alvarado succeeds Mark Wynne-Smith, who will continue as Global CEO of Valuation Advisory.
Perez-Alvarado formerly served as CEO of the hotels group for the Americas. She will continue to lead the Americas region along with her new role, which includes driving global strategy for the overall sector, connecting the business to support cross-regional growth and overseeing the Asset Management and Strategic Advisory business lines. She will also lead ESG initiatives in hospitality, including commitments to diversity & inclusion and sustainability. Perez-Alvarado will report to Global CEO of Capital Markets, Richard Bloxam, and Americas Capital Markets CEO, Mark Gibson.
The hotel industry has suffered a turbulent year as a result of the pandemic. Now, many experts are predicting a long and uneven recovery. In a blog post published by Preqin, John McCourt and Ryan McAndrew of RSM US LLP predict that deal flow won’t return to levels seen before the pandemic until 2022. But when it does return, it will likely come in fits and starts depending on the asset type, its location and the financial status of the owner.