Colliers International UK Acquires Market Leading Hospitality Asset Management Firm
(Thomson Reuters ONE) -
Addition strengthens existing Hotels business and broadens asset management
offer in the UK
TORONTO, Jan. 04, 2017 (GLOBE NEWSWIRE) -- Colliers International Group Inc.
(NASDAQ:CIGI) (TSX:CIGI), a global leader in commercial real estate services,
today announced the acquisition of Vision Asset Management Co. ("Vision"), one
of Europe's leading hospitality asset management companies. The business will be
rebranded as Colliers International and integrated into the existing Hotel
Property Services operation increasing its scale and capabilities throughout the
UK. The details of the transaction were not disclosed.
Founded in 2001, Vision provides a complete range of asset management advisory
and consultancy services in the hospitality sector. The firm advises clients in
the UK and across EMEA and has managed more than 100 assets that range from
individual properties to larger portfolios. Colliers' combined Hotels Property
Services team will now total more than 35 professionals offering agency,
valuation advisory, as well as asset management services. Marc Finney Colliers'
Head of Hotels & Resorts Consulting will lead the team working with new
directors Ben Godon and Allan Davidson.
"Vision is well regarded by investors, owners and funders looking to increase
investment performance in the hospitality sector. These market leading
professionals will enhance our existing team of hotels experts; as well as
complement our investment property management service," said Tony Horrell, CEO,
Colliers International | UK & Ireland. "The addition of asset management brings
a new dimension to the hotel and hospitality services that we provide to our
clients across the country."
"Having built a significant market share within the hospitality sector, we have
found the right international partner to help us take the next strategic growth
step for our business," said Allan Davidson, Director Colliers International.
"For us, this is the beginning of a new chapter and we are looking forward to
combining our local and sector expertise with Colliers' global platform to
better meet our clients' needs."
"Joining forces with Colliers is a natural evolution for us. We share the same
commitment to client service and entrepreneurial culture. This move has many
positives for our employees who will benefit from the enhanced career
opportunities it brings," added Ben Godon, Director Colliers International.
"Our strategic growth across EMEA continues with the addition of Vision and
marks a very positive start to 2017. This is the latest in a string of
strategic acquisitions that Colliers has made to continue accelerating the
success of our clients and helping them to solve their business challenges,"
concluded Chris McLernon, CEO, Colliers International | EMEA.
About Colliers International
Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIGI) is an industry
leading global real estate services company with more than 16,000 skilled
professionals operating in 66 countries. With an enterprising culture and
significant employee ownership, Colliers professionals provide a full range of
services to real estate occupiers, owners and investors worldwide. Services
include strategic advice and execution for property sales, leasing and finance;
global corporate solutions; property, facility and project management; workplace
solutions; appraisal, valuation and tax consulting; customized research; and
thought leadership consulting.
Colliers professionals think differently, share great ideas and offer thoughtful
and innovative advice that help clients accelerate their success. Colliers has
been ranked among the top 100 outsourcing firms by the International Association
of Outsourcing Professionals' Global Outsourcing for 11 consecutive years, more
than any other real estate services firm.
For the latest news from Colliers, visit Colliers.com or follow us on Twitter:
(at)Colliers and LinkedIn.
Advisory Regarding Forward-Looking Information
Certain information included in this news release is forward-looking, within the
meaning of applicable securities laws. Much of this information can be
identified by words such as "believe", "expects", "expected", "will", "intends",
"projects", "anticipates", "estimates", "continues" or similar expressions
suggesting future outcomes or events. Colliers believes the expectations
reflected in such forward-looking statements are reasonable but no assurance can
be given that these expectations will prove to be correct and such forward-
looking statements should not be unduly relied upon.
Forward-looking statements are based on current information and expectations
that involve a number of risks and uncertainties, which could cause actual
results or events to differ materially from those anticipated. These risks
include, but are not limited to, risks associated with: (i) general economic and
business conditions, which will, among other things, impact demand for Colliers'
services and the cost of providing services; (ii) the ability of Colliers to
implement its business strategy, including Colliers' ability to identify and
acquire suitable acquisition candidates on acceptable terms and successfully
integrate newly acquired businesses with its existing businesses; (iii) changes
in or the failure to comply with government regulations; and (iv) such factors
as are identified in the Annual Information Form of Colliers for the year ended
December 31, 2015 under the heading "Risk Factors" (which factors are adopted
herein and a copy of which can be obtained at www.sedar.com). Forward looking
statements contained in this news release are made as of the date hereof and are
subject to change. All forward-looking statements in this news release are
qualified by these cautionary statements. Except as required by applicable law,
Colliers undertakes no obligation to publicly update or revise any forward-
looking statement, whether as a result of new information, future events or
otherwise.
COLLIERS CONTACTS:
John Friedrichsen
Chief Financial Office | Global
(416) 960-9500
Tony Horrell
CEO, Colliers International | UK & Ireland
Phone: + 44 20 7487 1666
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Colliers International Group Inc. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 04.01.2017 - 13:30 Uhr
Sprache: Deutsch
News-ID 515799
Anzahl Zeichen: 7498
contact information:
Town:
Seattle, WA
Kategorie:
Business News
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"Colliers International UK Acquires Market Leading Hospitality Asset Management Firm"
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