Andrew Broad
By Joshua Burd
Cronheim Hotel Capital has tapped Andrew Broad as a senior managing director, adding a veteran broker with deep ties to both the hospitality sector and the capital markets.
The Chatham-based firm said Broad, whose career spans 27 years, most recently was with RobertDouglas, where he sold and financed hotel assets nationwide. But he has also held roles with HREC, Hotel Assets Group and Avison Young since graduating from Cornell University’s Nolan School of Hotel Administration and then initially selling hotel management contracts.
He quickly pivoted to the investment sales business focused on hotels, Cronheim said.
“We are thrilled to be adding someone of Andy’s caliber to the CHC team,” said David Turley, the firm’s president. “I’ve known Andy for 20 years and have always respected him as one of the smartest and most creative professionals in the business. His contributions will help take CHC to the next level.”
He noted that Broad’s investment sales experience “gives us a huge advantage because it allows us to speak to and execute on either a financing or a sales strategy.”
“Many owners are coming up on strategic decision points — (property improvement plans), loan maturities, investment fatigue — and need guidance from professionals who have both debt and investment sales market knowledge. CHC’s extensive debt markets experience — nearly $3 billion in hotel loans closed since 2021 — and Andy’s hotel sales track record give us all the tools to provide comprehensive solutions for our clients.”
Broad added: “I’ve watched CHC become one of the most respected names in hotel debt capital markets, and I’m excited to help expand their capabilities on the investment sales side. The hotel industry is at an inflection point, and owners need advisers who can navigate both the capital markets and the transaction landscape. CHC’s collaborative culture and client-first approach made this an easy decision for me.”
