Michael Francis Joins Jones Lang LaSalle
To Expand Southwest Select Service Division
May 20, 2010 - Jones Lang LaSalle Hotels is pleased to announce the addition of hotel industry veteran Mike Francis to the firm's roster of select service experts. In his new role, Francis will drive the expansion of Jones Lang LaSalle Hotels' capabilities throughout the Southwest as senior vice president of the firm's select service division.
Jones Lang LaSalle Hotels' industry-leading select service division focuses on the transaction needs of clients in the mid-tier segment of the hotel industry - ranging from $5 to $20 million in asset value. The expansion of the firm's platform in Dallas and throughout the Southwest is a sign of expected growth in the mid-tier client segment. This move also represents an expansion in a key market given the state of Texas as the highest number of select service hotels of any state at 248,000 branded select service hotel rooms followed by California and Florida.
“The select service hotel market has been a mainstay of our business and we're seeing a number of emerging opportunities to help our select service clients maximize the value of their assets as we move into recovery mode for the sector,” said Mark Fair, managing director and head of the firm's select service division. “Adding a recognized expert and proven leader in the Dallas market will expand the regional expertise we provide our clients.”
Francis brings more than 25 years of diverse experience in hotel acquisitions and dispositions, real estate development, asset management, and franchising to his new role with Jones Lang LaSalle Hotels. Most recently, he served as principal for the Mumford Company, where he specialized in budget to mid-market hotel transactions. He opened the Mumford Company's regional office in Dallas in 2001, and the practice flourished under his leadership. He's also held executive positions with Extended Stay America, Manor Care Hospitality and Accor.
“My experience is rooted in expanding businesses and Jones Lang LaSalle Hotels presented a compelling opportunity to extend the firm's foot-hold in the Southwest. I'm looking forward to leveraging the firm's global platform to bring added value to our client service,” said Francis.
The addition of a Dallas-based hotels expert also marks another strategic move for Jones Lang LaSalle's aim to advance its position as a market leader.
“We are pleased to add hotels expertise to our robust office, industrial, retail, commercial leasing, and capital markets expertise in Dallas-Fort Worth,” said Paul Whitman, President of Jones Lang LaSalle's Dallas region.
Francis is a graduate of Cornell University's School of Hotel Administration.
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