SINGAPORE, 10 September 2021: CBRE has announced two senior appointments at CBRE Hotels in the Asia Pacific. Steve Carroll joins as head of hotels & hospitality and David Ling as managing director, hotels & hospitality.
Carroll, who will lead the firm’s Asia Pacific Hotels team, and Ling bring a wealth of experience in overseeing hotel and hospitality investments. Both are based in Singapore.
Steve Carroll. 
David Ling.
Carroll was most recently IHG’s senior vice president, global corporate finance and strategy, as well as its global head of M&A. In this role, he drove the company’s investment strategies, including multiple brand acquisitions and the USD1 billion sale of InterContinental Hong Kong. Prior to IHG, Carroll was at LaSalle Investment Management.
Ling joins CBRE from Pan Pacific Hotels Group (PPHG) where he was chief investment officer, responsible for investment in the international markets. Prior to PPHG, Ling was head of strategic development with M&C REIT Management.
CBRE expects global hotel fundamentals to gradually recover over the next three years, as accelerating vaccination programmes in big economies support the recovery of the sector, driven by increased leisure travel.
Carroll commented: “CBRE Hotels is the leader in the hotel space worldwide, and I am excited to scale and leverage the global platform for the benefit of our Asia Pacific clients.
While the pandemic has created unprecedented cash-flow disruption for the industry, it is also creating opportunities for selective investors that recognise the potential of quality assets that stand to benefit from the rebound in business and leisure travel. The pieces are all in place for this to happen, such as pent-up travel demand, combined with strong access to capital in the region.”
Ling said: “The speed and extent of recovery for the sector will look different across markets. In order to capitalise on the market recovery, hotel owners, operators, and investors will have to optimise their assets and align services with anticipated demand. The post-pandemic landscape for hotels will likely focus more than ever on aspects such as driving lifestyle and memorable experiences, Environmental, Social, and Governance (ESG) alignment, digitalisation, and ensuring health and safety.”
