CBRE Welcomes New Orange County EVP
- May 15, 2020
CBRE has selected industry veteran Michael DiPrima as executive vice president for CBRE Hotels. He will focus on investment sales in the Western U.S., sourcing debt and equity placements. He will be based in the Newport Beach, Calif., office.
DiPrima brings 15 years of experience to the new position. He began his career at Hodges Ward Elliott and, prior to joining CBRE, served as managing director since opening the company’s Los Angeles office in 2015. His most representative transactions include the sales of Bacara Resort and Spa in Santa Barbara, Calif., while notable financing includes the Pasea Resort and Spa in Huntington Beach, Calif., and the Lido House – Autograph Collection in Newport Beach. DiPrima received a bachelor of arts from Pepperdine University.
In the first-quarter survey of the hospitality sector, CBRE notes a 41.2 percent fall in hotel demand due to the current health crisis. Luxury hotels were the hardest hit, with occupancy dropping to less than 10 percent.