Hospitality Asset Managers & Consultants

Lindsay Brown

Executive Assistant/Office Manager

“Be the change you wish to see in the world” – Gandhi

Bio

As an Executive Assistant/Office Manager at CHMW, Lindsay Brown provides a full range of administrative support to the CHMW team. She is responsible for travel planning, coordination of the company calendar, organization of company social events and volunteer projects, vendor relations as well as assisting with special projects related to marketing, business development and client communications. She is an appointed Notary Public for the Commonwealth of Massachusetts, and holds a B.A. in English from Suffolk University.

Expertise

Administrative support to senior executives
Office management
Meeting and event coordination
Human resources
Database management

Experience

Citylight Homes, Executive Assistant/Office Manager
B.A English, Suffolk University

Art Burger

Senior Vice President

“You miss 100% of the shots you don’t take” – Wayne Gretzky

Bio

Art Burger, CHAE, is Senior Vice President of CHMWarnick specializing in asset management and hotel advisory services. Art brings over 45 years hospitality industry experience, including all lodging segments from luxury, convention, resort, independent to select service, across most major brands. During his tenure, he has held positions throughout all areas of operations and finance, with 20 different companies bringing a broad range of exposure and experience. Art has extensive experience with acquisitions, driving successful results related to the turnaround and improvement of underperforming assets, and engagement on transitions of strategic new programs at the hotel and management company level.

Expertise

Asset Management and value creation
Hotel, rental pool and MV accounting
Strategic planning and operations assessment
Operational contracts evaluation
Procurement advisory
Balance sheet assessment
Capital planning and budgeting
Internal control and systems assessment and evaluation
Labor and productivity assessment
Food and beverage
Acquisition and due diligence

Experience

CHMWarnick, Senior Vice President
Marriott Hotels/Starwood Hotels – Complex Director of Finance Sheraton Grand Phoenix and Westin Phoenix Downtown
Marriott, General Manager
US Airways, Manager
The World, CFO
The Arizona Biltmore Resort, Director of Finance and CFO
Omni Hotels, Regional Director Finance
Doubletree Hotel Corp, Regional Director Finance
Registry Hotel Corporation, Regional Director Finance and Director Finance, General Manager
McLean Hotels, Director of Internal Audit
Brock Hotel Corporation, VP Operations Controller, SR Internal Audit Manager, Assistant GM, Front Office Manager, Assistant Food and Beverage Manager

Professional Affiliations & Activities

Certified Hospitality Accountant Executive (CHAE)
Hospitality and Financial Technology Professionals (HFTP) Prior Regional Director, Co-Chair: Membership, Gaming, Hotel CHPT, CHAE, Chapter Relations and Appeals Committees
Valley of the Sun HFTP former Chapter President, VP and Board Director.
DECA Arizona Chapter Judge and Advisor

Marcela Chrastecka

Accounting Manager

“Appreciation is a wonderful thing: It makes what is excellent in others belong to us as well.” – Voltaire

Bio

Marcela Chrastecka is an Accounting Manager at CHMW, specializing in ownership-level accounting and cash flow reporting. She brings 10 years of experience to her role as accounting manager and is responsible for providing services to both public and private-sector hotel owners. Marcela also oversees special research and analytical projects in support of CHMW’s asset management team and company as a whole. She is fluent in Czech and German.

Expertise

Accounting for privately held, owner-managed businesses
Real estate specialization
Fluent in German and Czech

Experience

CHMWarnick, Accounting Manager
CHMWarnick, Senior Accountant
Capital Hotel Management, Senior Accountant
Abiomed, Project Accountant
Curbside Hospitality, Staff Accountant
Le Calorie, FC Bookkeeper
CeWe Group AG, Financial Analyst
VSB-TU Ostrava Czech Republic, BS in Finance

Chad Crandell

Philip Curcuru

Accountant

“They will proclaim you a fool, and it reminds you to do anything and everything to prove them a liar” – Set it Off

Bio

Philip is responsible for supporting CHMWarnick’s Accounting Department, actively assisting with multiple aspects of corporate and client accounting, including account payables, receivables and ownership-entity reporting. In addition, Philip undertakes special research and analytical projects in support of the accounting and asset management teams. He holds a Bachelor of Science degree in Accounting from the University of Alabama.

Expertise

General Ledger
Account payables/receivables
Contract administrator
Tax processing

Experience

CHMWarnick, Accountant
Fusion LLC, Junior Accountant

Kristie Dickinson

Michael Doyle

Managing Director/EVP

“Better to be an optimist who gets disappointed than a pessimist who has no hope.” – Robin Sharma

Bio

Michael Doyle is Managing Director/Executive Vice President with over 30 years of experience in hotel operations, development and asset management. He leads a team of senior asset managers in the oversight of client hotel investments valued at $10 billion and possesses expertise in all aspects of hotel operations, with a focus on organizational efficiency, labor productivity and relations, sales strategies and capital planning. Prior to joining CHMW, Michael served as General Manager at some of the world’s finest hotels and conference facilities. Additionally, he has extensive experience in new hotel openings and operational ramp-up strategies.

Expertise

Hotel, golf, and resort operations in the luxury market
Project management and new construction
Revenue enhancement
Operational reviews and analysis
Union-managed hotels
Market and product positioning and repositioning
Managing independently-owned properties
Building asset value
Hotel and golf course openings

Experience

CHMWarnick, Managing Director/Executive Vice President
Capital Hotel Management, Executive Vice President
Willowbend Golf Management, President
The Charles Hotel, General Manager
The Seaport Hotel and World Trade Center, General Manager
The Millennium Hotel, General Manager, New York, NY
The UN Plaza, Park Hyatt, Manager, New York, NY
Ritz Carlton, New York, NY
Four Seasons Hotels, Toronto, Canada
Cornell University School, BS in Hotel Administration with a major in Hotel Management
Recognized CHA (Certified Hotel Administrator) since 1992

Professional Affiliations & Activities

Hospitality Asset Manager Association, Member and Past Board Member and President
Cornell Hotel Society, Member and Past President New England Chapter
Massachusetts Lodging Association, Member
Massachusetts Golf Association, Member
Cornell University School of Hotel Administration, Guest Lecturer
Boston University School of Hotel Administration, Guest Lecturer
Puerto Rico Golf Association, Member
Chaine des Rotisseurs, Member
President Whiteface Lodge HOA since 2011
Crittenden Golf Industry Conferences, Speaker

Contributing Author

Robert Hayward

Senior Vice President

Bio

Robert Hayward is a senior member of the CHMW team and a Certified Hotel Asset Manager (CHAM), specializing in asset management, feasibility, investment analysis, brokerage and litigation support across a wide variety of projects within the hospitality, gaming, recreational and leisure real estate industries. Bob’s 30-plus years of professional experience also includes an extensive operational management background within the food & beverage and hospitality industries.

Expertise

Asset management and Owner representation
Deal structuring
Repositioning strategy
Brand selection and negotiation
Franchising
Concept development and facilities programming
Feasibility and investment strategy
Development/redevelopment strategic advisory
Strategic operations assessment
Acquisition and due diligence
Litigation support

Experience

CHMWarnick, Senior Vice President
Warnick + Company, Consultant
Young Warnick Cunningham & Co., Vice President
Willis Company, Senior Associate
Pannell Kerr Forster, Manager
University of Denver, BS in Business Administration

Professional Affiliations & Activities

Certified Hotel Asset Manager (CHAM)
Hospitality Asset Managers Association (HAMA), Member
Valley Hotel & Resort Association (Metropolitan Phoenix), Past Board Chairman
Valley Hotel & Resort Association (Metropolitan Phoenix), Board Member
Arizona Hotel & Lodging Association, Board Member, Executive Committee
Arizona Tourism Alliance, Board Member
Licensed Real Estate Broker, State of Arizona
Certified General Real Estate Appraiser, State of Arizona

Sabir Jaffer

Senior Vice President

Bio

Sabir Jaffer is a Senior Vice President with CHMW and has over 20 years of experience in the lodging industry, specializing in asset management and investment for hotel real estate. He has a broad range of hotel experience, including general hospitality consulting, asset management, acquisition and disposition, market repositioning and hotel operations.

Expertise

Asset and property management
Operations assessment
Acquisition due diligence

Experience

CHMWarnick, Senior Vice President
Warnick + Company, Contract Partner
Pepperdine University, Master’s Degree

Professional Affiliations & Activities

Co-Founder, KEYPR – Hospitality Technology Solution
California Business Education Association, Business Member
Project Cloud Key, Inc., Board member

Fern Kanter

Managing Director/EVP

“There cannot be a crisis next week. My schedule is already full.” – Henry Kissinger

Bio

Fern Kanter is Managing Director/Executive Vice President at CHMW. She possesses over 30 years of diversified hospitality industry experience, having consulted on thousands of existing and planned hotel, resort and hospitality mixed-use projects in the U.S., Caribbean and Central and South America. She brings expertise in acquisition underwriting, investment strategies, redevelopment, mixed-use planning and highest-and-best-use analyses. Fern has guided the strategic planning and repositioning efforts to achieve investment objectives on behalf of owners of some of the world’s most iconic hotels and portfolios.

Expertise

Strategic planning
Market and product positioning
Hotel brand and management company selection
Land use planning and development programming
Acquisition and disposition advisory services
Investment and valuation analyses
Development and redevelopment consulting
Revenue enhancement, operational reviews, and analysis
Owner exit strategies and hold/sell analysis

Experience

CHMWarnick, Managing Director/Executive Vice President
Capital Hotel Management, Executive Vice President
PwC, Senior Manager
Horwath Landauer, Managing Director
Arthur Andersen, Manager
University of Miami, Masters in Business Administration and Planning
University at Albany (SUNY), BA in Psychology

Professional Affiliations & Activities

Urban Land Institute (ULI), Recreational Development Council, Member; Women’s Leadership Initiative (WLI), Founding Member; Boston District Council WLI, Co-chair; Boston Market Council, Member
UCLA and NYU Investment Conferences, Speaker
ULI, ALIS, CHA, Speaker
UCLA-Latin America, Resort Lodging Conference, Speaker
US and Brazil Department of Commerce, Speaker
Florida International University, Hotel Administration and Florida CPA Continuing Education Programs, Guest Lecturer

Contributing Author

“Chapter 6: Negotiating the Hotel Management Contract,” Hotel Asset Management published by the University of Denver and the Educational Institute of the AHLA

Sean Kreiman

Manager

“You can observe a lot by just watching” – Yogi Berra

Bio

Sean Kreiman is a Manager at CHMW with six years of lodging industry experience. As part of CHMW’s asset management team, Sean is actively engaged with several properties under the company’s asset managed portfolio. He is responsible for assisting the asset management team with financial analysis and market research aimed at identifying opportunities to enhance hotel operating performance and asset value. Prior to joining CHMW, he was employed by one of the largest third-party management companies, where he was responsible for the underwriting of single asset and portfolio acquisition opportunities. Sean has a background in hotel development and acquisitions, business development and hotel & restaurant operations.

Expertise

Hotel acquisition and development
Financial modeling
Asset valuation and proforma underwriting
Data management
Operational and financial analysis
Owner reporting
Market research and trends

Experience

CHMWarnick, Manager
CHMWarnick, Senior Associate
Pyramid Hotel Group, Business Development & Acquisitions Analyst
Wylie Inn & Conference Center, Group Sales Manager
Atlanta Marriott Buckhead Hotel & Conference Center, Restaurant Supervisor

Professional Affiliations & Activities

American Hotel & Lodging Association, Member
Boutique & Lifestyle Lodging Association, Member

Contributing Author

“Why Hotels Should Consider Outsourcing” Hotel Business Review
“How Marriott plans to save Starwood owners real money” Hotel Management

Celeste Cloutier Ledoux

Managing Director/CFO

“Step with care and great tact, and remember that Life’s a Great Balancing Act.” -Dr. Seuss

Bio

Celeste Ledoux is a Certified Public Accountant (CPA) who brings over 20 years of accounting experience to her current position as Chief Financial Officer for CHMW. She has experience with a multitude of ownership structures, including pension funds, REITs, joint ventures, LLCs, partnerships and corporations and is familiar with the accounting systems and reports generated by nearly every major brand. Celeste offers expertise in the areas of balance sheet review, audit oversight, contract and loan compliance, working capital and creative cost savings/risk mitigation strategies. She actively has participated in hotel refinancing efforts for multiple portfolios and is experienced in property transactions, including accounting related due diligence, financial statement reconciliation and review of pro-rations.

Expertise

Accounting for privately held, owner-managed businesses, specializing in hotel, radio broadcasting and other real estate holdings
Waterfall and ownership distribution structures, including bond funded deals.
Contract and loan compliance
Generating savings through renegotiation of insurance premiums, real estate tax abatements, and sales and use tax audits
Balance sheet and working capital review
Hotel due diligence (acquisition, disposition, and finance)
Audit process management and review

Experience

CHMWarnick, Managing Director/CFO
Capital Hotel Management, Controller
Knight Quality Station, Vice President
Arthur Andersen, LLP, Senior Staff Accountant
College of the Holy Cross, BA in Economics & Accounting
State of Maine and New Hampshire, Professional Certification

Professional Affiliations & Activities

AICPA, Member
CREW Boston, Member

Contributing Author

Daniel Lomartra

Associate

“True nobility is being superior to your former self” – Ernest Hemingway

Bio

Daniel brings expertise in financial modeling and hospitality real estate analysis to CHMWarnick. As an Associate, Daniel is responsible for the development and maintenance of CHMWarnick’s business intelligence and analytics platform, as well as other modeling, analysis and market research aimed at identifying opportunities for optimizing operating performance and value across CHMWarnick’s asset management portfolio. Daniel holds a Certification in Hotel Industry Analytics (CHIA) and a Bachelor of Science Degree in Hospitality Management, with a concentration in Finance, Accounting & Real Estate from Cornell University.

Expertise

Financial modeling and reporting
Complex financial analysis
Data management
Market research and trends
Edit, Transform, Load (ETL) Development
Business Intelligence Development

Experience

CHMWarnick, Associate, Boston, MA
HotelAVE, Contractor
CarMax, Analyst

Professional Affiliations & Activities

American Hotel & Lodging Association, member
Cornell Hotel Society

Sandra Luke

Managing Director

“Don’t raise your voice, improve your argument.” – Desmond Tutu

Bio

Sandra Luke is Managing Director of CHMW with 30 years of hospitality industry experience, including business advisory services and corporate operations across a wide range of hotel brand companies. She manages business operations of CHMW’s Western Regional Headquarters based in Phoenix and has a 23-year background in corporate hotel operations and specialization in the planning and integration of electronic central reservation systems and corporate marketing programs.

Expertise

Hotel real estate advisory services
Corporate hotel brand sales & marketing programs
Electronic central reservation systems
Corporate team management

Experience

CHMWarnick, Managing Director/EVP
Warnick + Company, Partner
Doubletree Hotels Corporation, Vice President, Call Center Operations
Ramada Inc., Director of Reservations Services
Princess Hotels International, Director of Reservations
University of Hartford, BA
New School for Social Research, MA – Psychology

Professional Affiliations & Activities

Arizona Small Business Association, Board Member

Liya Ma

Manager

“To see a world in a grain of sand
And a heaven in a wild flower.” – William Blake

Bio

Liya Ma serves as Manager and is an active member of CHMW’s asset management team, focused on financial analysis and market and project research, as well as identifying opportunities for enhancing hotel operating performance and asset value. She is engaged with several of the properties under CHMW’s asset managed portfolio, including a $2 billion repositioning and redevelopment project. Prior to joining CHMW, she worked in real estate and lodging investment banking, advising a number of lodging C-Corps, REITs and other real estate clients on mergers, acquisitions and financing. Liya is fluent in Mandarin Chinese.

Expertise

Hotel acquisitions and development
Financial modeling
Portfolio analysis
Fluent in Mandarin Chinese
Disposition and refinancing support
Market research and trends

Experience

CHMWarnick, Manager
Club Quarters, Manager
Magna Hospitality Group, Associate
Credit Suisse, Analyst
Yale University, Master of Business Administration
Tsinghua University, MBA Exchange Program
Cornell University, BS in Hotel Administration

Professional Affiliations & Activities

Cornell Hotel Society, Member
Cornell University Hospitality Students International, Past President

Contributing Author

Understanding the Momentum and Motivations of Foreign Investors in U.S. Hospitality, Boston Hospitality Review, Spring 2016
“Operational Hedging and Exchange Rate Risk” in Cornell Hospitality Report, Co-Author

Thomas Morone

Managing Director/EVP

“Failure is not an option.” – Mission Control, Apollo 13

Bio

Thomas Morone is well known in the industry for his 40-plus years of expertise in asset management and all facets of hotel owner advisory services. As Managing Director/Executive Vice President at CHMW, he leads a team of senior asset managers, providing oversight of a wide variety of client engagements. He also is CHMW’s specialist in litigation support and expert testimony, as well as hotel and resort real estate and business brokerage.

Expertise

Asset management and Owner representation
Litigation support
Real estate brokerage
Deal structuring
Assessment and repositioning strategy
Brand selection and negotiation
Concept development and facilities programming
Feasibility and investment strategy
Development and redevelopment strategic advisory
Strategic operations assessment
Acquisition and due diligence

Experience

CHMWarnick, Managing Director/Executive Vice President
Warnick + Company, Principal
Colliers International Hotel Realty, VP
Omni Hotels, VP Development
Doubletree Hotel Corporation, Dir. of Development
Florida International University, BS in Hotel Administration

Professional Affiliations & Activities

Certified Commercial Investment Member (CCIM)
International Society of Hospitality Consultants (ISHC), Chairman Emeritus and current Membership Co-Chair
National Association of Realtors
South Bay Association of Realtors
Licensed Real Estate Broker, State of California
Licensed Real Estate Broker, State of Arizona
Licensed Real Estate Broker, State of New York
Certified Mediator, Arbitrator, Issue Review Board (Conflict Resolution)
Los Angeles Community College Teaching Certificate, State of California

Contributing Author

“Supply, Acquisitions Take Spotlight,” Hotel News Now
“Management Company Land Mines,” article published in Hotel & Motel Management
“CapEx 2007 Report,” a study of capital expenditures in the hotel industry, co-author of report published by the International Society of Hospitality Consultants
“Promises…Promises: Hotels Need to Keep Promises – Regardless of Who Made Them,” article published in Hotel & Motel Management
“Size Matters in the Spa Business”
“Reality Check: Owners Should Improve Operation Before Selling Hotels,” article published in Hotel & Motel Management

Eric Musser

Associate

“Knowing what’s right doesn’t mean much unless you do what’s right.” – Theodore Roosevelt

Bio

As an Associate, Eric is responsible for assisting the asset management team with financial analysis, performance benchmarking and market research aimed at identifying opportunities for enhancing hotel operating performance and asset value. He is actively engaged with several of the properties under CHMWarnick’s asset managed portfolio, attending monthly owner meetings preparing weekly, monthly and quarterly performance reports and presentations. Prior to joining CHMWarnick, Eric worked as an Analyst at an investment management firm, where his responsibilities included screening potential real estate investments, monitoring portfolio holdings and producing quarterly financial reports. Additionally, Eric has experience in luxury hotel and restaurant operations. He holds a Bachelor of Arts degree in Business Administration from Gordon College.

Expertise

Operational and financial analysis
Financial modeling
Owner reporting
Market research & trends
Luxury lodging operations
Food & beverage operations

Experience

CHMWarnick, Associate
Perennial Capital Advisors, Analyst
Santander Bank, Licensed Banker
The Ritz-Carlton Boston, Front Desk Agent
Emerson Inn by the Sea, Service Specialist

Professional Affiliations & Activities

American Hotel & Lodging Association (AH&LA), Under 30 Gateway, Member
Notary Public, Commonwealth of Massachusetts

Rosabel Obrero

Senior Accountant

“The key to ultimate happiness and fulfillment lies within our own transformation. The more we learn and grow and evolve as individuals, the more we will find happiness and satisfaction in relationships, work and life.” – Kristie Bowman

Bio

Rosabel Obrero brings over 10 years experience and a degree in accounting to CHMWarnick. As Senior Accountant, Rosabel is responsible for ownership-level accounting, month-end closing procedures, forecast reporting, account reconciliation and analysis. She undertakes special research and analytical projects in support of client services coordinated through both the accounting and asset management teams. In addition, she assists the human resource department with employee and benefit administration. Rosabel is fluent in Tagalog.

Expertise

Hospitality investment/owner-entity accounting
Month-end closing procedures
Cash flow forecasting
General ledger reconciliation/analysis
Accounts payable/receivable analyses
Human resource administration

Experience

CHMWarnick, Senior Accountant
Handrick Manufacturing, Accountant
American Dental, Consultant/Project Accountant
Oxford Global Resources, Senior Accountant
Northshore Recycled Fibers, Senior Accountant

Derek Olsen

Senior Vice President

“Just do it.” – Philip H. Knight, Nike CEO

Bio

With over 20 years of experience, Derek Olsen oversees the financial modeling and valuations associated with the firm’s value enhancement, lease negotiations and redevelopment strategies as Senior Vice President. He is responsible for operational performance reviews, property and portfolio valuations, cash flow analyses, market and industry research and special projects focused on increasing portfolio profitability.

Expertise

Asset management and monitoring
Capital planning oversight and execution
Contract negotiation
Portfolio analyses and transaction support services
Development consulting and management
Disposition strategies and implementation

Experience

CHMWarnick, Senior Vice President
Capital Hotel Management, Senior Vice President
O’Connell Hospitality Group, Director
HVS International, Vice President
Kent Group, Senior Analyst
Massachusetts Institute of Technology, Master of Science in Real Estate
Cornell University, BS in Hospitality Management

Professional Affiliations & Activities

MIT Center for Real Estate Industry Executive Council, Member
Florida Hotel and Tourism Conference, Panelist on “Developing the Development Team”

Contributing Author

“5 ways to optimize hotel profitability through a third-party operating model” Hotel Management
“Why Hotels Should Consider Outsourcing” Hotel Business Review
The Impact of E-Commerce on Commercial Real Estate,” Co-Author

OUR TEAM

“They are the most comprehensively knowledgeable, both as a group and individually, of any hotel experts with which I have ever worked.”

Lindsay Brown

Art Burger

Marcela Chrastecka

Chad Crandell

Philip Curcuru

Kristie Dickinson

Michael Doyle

Robert Hayward

Sabir Jaffer

Fern Kanter

Sean Kreiman

Celeste Cloutier Ledoux

Daniel Lomartra

Sandra Luke

Liya Ma

Thomas Morone

Eric Musser

Rosabel Obrero

Derek Olsen