The opening of the firm’s New York City office directed by leading hospitality industry veterans Jose Alvarez and Tom Grassle has been revealed by Rob Koger, President of Molinaro Koger (MK). Mr. Alvarez has been named Managing Director, and Mr. Grassle, Vice President, of MK’s New York office.

“The opening of our New York office is a significant event for Molinaro Koger, as is welcoming these two highly skilled professionals to the firm,” said Mr. Koger in making the announcement. “Jose and Tom both bring unique perspectives, unparalleled depth of expertise, significant contacts and deep investor relationships to their roles at MK. Without a doubt our clients and firm will benefit from their combined strength.”

A professional hotel investment specialist, Mr. Alvarez recently served as Head of Trammell Crow Company’s Hotel Group and co-Head of Secured Capital Corp’s Hospitality Division. He helped to establish the North American hotel investment practice at Jones Lang LaSalle where he worked for the first 11 years of his career. A graduate of Cornell’s Hotel School, Mr. Alvarez has executed more than $4 billion in hotel sales, financings, and joint ventures.

As Managing Director of Molinaro Koger’s New York office, Jose Alvarez will direct the sourcing and execution of assignments involving hospitality property dispositions and acquisitions, debt and equity sourcing and joint venture structuring. Mr. Alvarez has worked on properties in major markets in the continental U.S., Canada, Hawaii and the Caribbean. Some of his significant transactions include the sale of the Four Seasons hotels in New York and Maui, the Regent Beverly Wilshire in Los Angeles, and the Ritz-Carlton San Juan.

“MK is a firm with a strong reputation for client service and tremendous momentum and I am excited to join them. I pride myself in being nimble in the marketplace, assisting my clients with a full array of investment advisory and sourcing service, and I believe MK will allow me to use my full range of skills and contacts,” said Mr. Alvarez who last year was involved with a wide variety of transactions involving assets located throughout North America including sales, financings, and programmatic joint ventures.

“I have always been impressed by the caliber and professionalism of Rob and his team,” continued Mr. Alvarez.
“The added benefit of Tom Grassle’s hands-on hotel company expertise makes MK’s New York office a formidable player in the hospitality investment advisory business.”

Tom Grassle joins MK from Starwood Hotels & Resorts Worldwide, where he was most recently Director of Real Estate Portfolio Management. In that role Mr. Grassle executed the disposition of more than $500 million of Starwood’s owned real estate in the United States, Europe, and North Africa.

“As Vice President of MK’s New York office, Tom’s broad expertise in hotel real estate disposition and asset management, combined with his background in hotel operations, will serve our clients well,” remarked Mr. Koger.

While with Starwood, Mr. Grassle developed and executed strategic asset management plans for a portfolio of Starwood’s joint venture interests and owned real estate worth in excess of $650 million. He handled all marketing, closing, and post-closing components of these asset transactions.