New hotel brokerage firm from Jolliffe and Dragicevich
Andrew Jolliffe, formerly of Ray White Hotels; and Daniel Dragicevich, ex-CBRE Hotels; have partnered to start a new boutique hotel brokerage firm: Hotels, Tourism and Leisure Property (HTL Property).
Ending months of speculation, the pair confirmed reports of their new business venture together. Jolliffe and Dragicevich are considered two of the most esteemed pub brokers in Australia.
The pair had worked as the directors of the pub divisions of Ray White Hotels and CBRE Hotels for almost a decade each, before deciding to strike out on their own with HTL Property. Jolliffe believes the time is right within the market for an agile firm to consolidate top talent.
“HTL Property is intent on operating a collection of very high achieving and deal-centric property negotiators in a marketplace which both seeks and rewards performance, not perception.
“HTL Property’s firm objective is to be dynamic in respect of deal origination and closure, and in order to do this on behalf of our valued client base we hold the view that an unapologetic concentration of resources, focus and time is required to stay ahead of our existing and future market share competitors in the hotel transaction landscape.”
Meanwhile the White family have confirmed to The Australian Financial Review that they will take a major stake in the new venture, HTL property.
“The White family are partners in a variety of different business and have embraced this opportunity to continue working with Andrew Jolliffe,” Ray White group director Dan White told the paper.
“HTL aligns with our family’s long-held belief in the capability of ambitious operators embracing leadership to develop their own market-leading businesses and their success is no surprise to us.”
The confirmation of HTL Property’s establishment comes off the back of news that Jolliffe was named Ray White Group’s top fee writer globally for the third year in a row.
“The Ray White Group remains Australasia’s largest and most successful real estate group in terms of scale and revenues, and the great satisfaction of enjoying top billing for the third year is only surpassed by the unqualified affection I hold for the family-owned company that has provided me with such a phenomenal launching pad.”
To kick off HTL Property’s business dealings, the firm has already sold BAM’s Vauxhall Inn to Redcape for over $40 million and sold the Belrose Hotel back to Bayfield Hotels for around $20 million. It is currently engaged to sell the leasehold of the Clovelly Hotel for Solotel, as well as Waterfront Tavern in Shell Cove for Frasers Property.