Walker & Dunlop, Inc. announced today its strategic move into Hospitality Investment Sales with the addition of Jonathan (Jay) Morrow as senior managing director. Morrow will lead Walker & Dunlop’s hospitality practice and be responsible for the origination and execution of hospitality investment sales and capital placement across the United States. He will be based in New York.
The hospitality investment sales market has shown resilience post pandemic as annual volume for 2020 was $12.8 billion compared to $49 billion in 2022. Major urban markets are experiencing strong hospitality operating fundamentals driven by business and leisure travel, which has pushed average daily rates in certain metros above their pre-pandemic averages.
Morrow specializes in institutional-grade hotel and resort property transactions throughout North America, including investment, brand advisory and capital placement with domestic and international buyers. Prior to joining Walker & Dunlop, Morrow spent over 15 years at Hodges Ward Elliott, leading the firm’s New York City hotel team and completing in excess of $20 billion in lodging transactions.
Walker & Dunlop has a breadth of capital markets experience within the hospitality sector across equity, debt capital, valuations, loan servicing and investment banking. Representative deals include:
- Aman New York Hotel & Residences: $754M
- SOHO Beach House Miami: $140M
- The Moxy and AC hotel Los Angeles: $325M
- The Lexington Hotel New York: $155M
