BOSTON—Sperry Van Ness International Corp. has joined forces with Raleigh, NC-based Howard Perry and Walston Commercial and Hotel Group to form a national hotel brokerage franchise.

The announcement by Boston-based Sperry Van Ness states that the hotel brokerage will be headquartered in Raleigh, NC and will have more than 25 advisors and more than 10 offices throughout the nation.

SVN Hotels will specialize in working with owners and investors of all sizes from large institutions who own multiple properties to private owners who own single assets. Sanjay Mundra, CEO of HPW Commercial and Hotel Group, will serve as CEO of the SVN Hotels brand with Don Walston as its chairman.

"We are confident the creation of SVN Hotels will enhance the services we provide to our investor clients by providing a national platform and premier expertise in one of the fastest growing segments of commercial real estate," states Kevin Maggiacomo, president and CEO of Sperry Van Ness International "HPW is the perfect fit for our firm with its superior marketing, innovative technology and long-standing track record in the hotel industry.”

For more than 40 years, HPW Commercial and Hotel Group has been involved in the development, investment, financing, brokerage, management and consulting of a significant number of hospitality projects throughout the United States. 

"The hotel investment sales industry is a $40-billion market and we are confident that our new platform can capture 5% to 7% of the market over the next five years equating to approximately $3 billion in revenue," states Mundra. "Our goal is to continue to grow SVN Hotels, adding premier advisors in key markets across the United States."