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Q2 2022 Hotel Market Insights

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Download the report to see the market stats and new developments for:

  • Richmond, VA
  • Norfolk, VA
  • Washington, D.C.
  • VA I-18 West
  • Greensboro, NC
  • Charlotte, NC
  • Raleigh Durham
  • Charleston, SC
  • Greenville, SC
  • Myrtle Beach, SC
  • Gatlinburg, TN
  • Knoxville, TN
  • Baltimore, MD


Q2 2022 Hotel Market Insights

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Related Experts

Prashant Merchant

Executive Vice President

Richmond - North

Prashant Merchant joins Colliers as Senior Vice President. Formerly, Prashant led The Merchant Hotel Group at Marcus & Millichap as a Vice President of Investments and a Director at the firm’s Hospitality Division. Prashant is based in Richmond, VA with a primary focus on the analysis and disposition of Hotels/Motels in the Mid-Atlantic market and an emphasis on exclusive seller representation.

Prashant provides his clients access to the largest pool of qualified investors locally, nationally and internationally, creating maximum exposure for their properties and a competitive bidding environment. Prashant is committed to the highest level of client service with direct involvement in every transaction including franchise negotiation and financing approval.

Prior to joining the firm in 2016, Prashant has been involved as an entrepreneur in transacting sales, refinances and DPOs. Example property types include Limited-Service, Full-Service and Boutique Hotels affiliated with multiple brands. Prashant is also a principal of a Wyndham Worldwide property in Downtown Norfolk. Prashant has worked with lenders, franchises, buyers and sellers from around the country and produced results for his own businesses.

Now, Prashant delivers real time information to his clients about the hotel/motel market conditions and the best ways to capitalize on forward-looking trends.

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Nicholas Wade

First Vice President

Richmond - North

Nic Wade joins Colliers as an Assistant Vice President. Formerly, Nic was a Director at Marcus & Millichap’s Hospitaity Division in the firm’s Richmond, Virginia office.

As a hospitality investment specialist, Nic advises clients on the acquisition and disposition of hotels/motels in the Mid-Atlantic region, with an emphasis on exclusive seller representation. Nic provides his clients with access to the largest pool of regional, national, and international qualified investors to create a competitive bidding environment upon asset disposition.

Nic is a native Virginian and was born and raised in the Hampton Roads area. He is a graduate of Christopher Newport University, where he earned degrees in Political Science and American Constitutional Studies. Prior to joining Marcus & Millichap, Nic held a research role investigating commercial real estate sales, leases, and market trends as an Associate at CoStar. He is a licensed real estate salesperson in Virginia.

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Ben Browndorf



Ben joined Colliers in February of 2022 as an associate on the Capital Markets team. He specializes in the disposition of hotels and expanding the Company’s footprint throughout the Carolinas region. 

Ben’s hospitality experience originates within the luxury hotel management business. Prior to joining Colliers, Ben held multiple management positions for Umstead Hotel and Spa in Cary, North Carolina. Ben received his Bachelor of Arts in Hospitality and Tourism Management from the University of North Carolina Wilmington. In addition, he received a certificate in Hospitality and Tourism Management from Florida Atlantic University College of Business and a certificate in Hospitality Manager: Leadership from the American Hotel & Lodging Association.

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John Vithoulkas

Research Analyst

Richmond - North

John joined Colliers in September of 2021 as a research analyst, working alongside the Research team to provide support for the brokerage division. His responsibilities include providing market data to commercial properties such as retail, multi-family, industrial, and hotel. In addition, John compiles and writes industry and speciality reports, as well as in-depth research and reporting on relevant companies and industries.  

Prior to Colliers, John worked for Costco Wholesale in Richmond where he collaborated with supervisors and managers to determine merchandising plans. He is a recent graduate of the University of Virginia where he studied economics and data analytics. 

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Komail Khaja

Director - Research

Richmond - North

Komail is the Director of Research for Central, Western, and Southeastern Virginia.  As of February 2022, Komail also oversees research operations in Raleigh, NC.  He joined Colliers | Virginia in January of 2019.

Komail oversees research operations throughout the region, manages the Research Analysts in the company, and supports all the company’s brokers primarily in the Richmond and Norfolk offices.  He began his real estate career in 2014 as a Real Estate Services Manager for the Fairfax County Economic Development Authority and then moved to CBRE as a Business Research/Data Intelligence Analyst.  He provides valuable customized research data which includes market trends, lease and sale comparables, GIS mapping, economic information and more.  In addition, he is also responsible for quarterly market reports, maintenance of the company research database, and tracking notable news/patterns pertaining to the local real estate market.

His foundations are in Geographic Information Systems (GIS), data visualization, urban planning, demographics, and business development. 

Komail understands the needs of clients and works to deliver top-notch market research and analysis to help our sales professionals deliver the best service to their clients so they can make the most informed decisions on their real estate needs.

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