PHILADELPHIA? Douglas Billings has formed The Billings Group, a full-service hotel real estate firm. The firm will provide hotel brokerage, debt and equity consulting, 1031 tax-free exchange services, appraisals, conventional and mixed-use development consulting, site acquisition and asset management. The Billings Group will maintain a strategic alliance with Chicago-based Hotel Source, a hotel brokerage firm, in addition to other hotel real estate service providers. While The Billings Group will maintain offices here, it has plans to open an additional office in Phoenix later in the year. According to Billings, ?Our firm?s primary growth vehicle will be hotel brokerage, but to be more responsive to today?s hotel community, we intend to provide many other services not typically found in a brokerage operation.? Billings? experience is in hotel acquisitions and divestments, franchising and operations. So far for the 1990s, his involvement in hotel transactions is valued at over $1.5 billion. ?The guiding philosophy of the company is to establish long-term, trusting relationships with our clients,? said Billings. Billings? background includes creating a hotel marketing division for Resolution Trust Corp. (RTC), serving as executive vp for CapStar Hotel Co. and serving as executive vp for Hostmark Management Group.
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