CBRE has added a new management rights service line to its hotels division, which it believes offers future growth potential.
There are around 3,300 management rights businesses in Australia, of which 85% are located in Queensland.
It has appointed Shane Mullings, who has spent 10 years in the hospitality sector with Resort Brokers, to lead its new management rights business line, to specialise in the management of letting of strata-titled units along the eastern states.
“Our recent focus on the management rights space is bridging a gap, which has not been filled in the past by any top tier agency firm,” Wayne Bunz, national director of CBRE Hotels said.
“We have identified this as a real growth area and gap in the market, with management rights an increasingly sought-after asset class.” Bunz concluded.
Australian Property Journal
