He has acted, and acts, for a number of hotel operators and owners, health and fitness operators, casinos and theatres.
He is appointed, either by the President of the RICS or by agreement, as arbitrator or independent expert on a number of hotel or leisure property rent reviews and is considered by his peers to be an expert in these fields. He recently joined Cushman & Wakefield Hospitality from Atisreal where he was head of their hotels team.
Recent Successes
In March/April 2007, Stephen led the valuation team in advising Royal Bank of Scotland on the circa £1billion acquisition of 47 UK Marriott hotels, all subject to a management agreement to Marriott International.
Stephen utilised and co-ordinated Atisreal’s regional office resources to inspect all 47 hotels within a three week period. Values were produced on a number of bases, including present day values of future trading, based upon the assumption that various works had been completed. Further work included extensive analysis of the trading projections. His role also included liaison with the Bank’s solicitors and the Bank’s asset managers in relation to the various real estate issues.
In September 2006, Stephen provided valuation advice to substantial Middle Eastern investors on the purchase of the Marriott Park Lane, a part freehold/part leasehold hotel, subject to a management contract to Marriott International, Inc.
Memberships And Qualifications
MA FRICS
General
Stephen has considerable experience in the valuation and appraisal of hotels.For nearly 30 years, Stephen worked for Atisreal (formerly Weatherall Green & Smith), and has specialised in the hotel sector since 1979. Whilst it was a partnership, he was first a partner and then a shareholding partner and a member of the management board. The partnership incorporated in 2001 and was sold, and is now part of BNP Immobliere, the owner of which is BNP Paribas.