JLL Hotels & Hospitality adds finance veteran, Mike Wernet, to its growing global Asset Management platform
Wernet will serve as a Senior Vice President and report to the Head of Global Hotel Asset Management, based in Chicago
CHICAGO, Aug. 5, 2021 – JLL Hotels & Hospitality continues to expand its global asset management practice by adding accomplished industry veteran, Mike Wernet, as a Senior Vice President, Asset Management, to the team. Wernet will be based at JLL’s Chicago, Illinois headquarters and report directly to Andrea Grigg, Senior Managing Director and Head of Global Hotel Asset Management.
Wernet will oversee the portfolio of diverse full- and select-service hotels located in key gateway markets throughout the United States.
“We’re excited to welcome Mike to the team, as his decades of related financial and asset management experience is paramount to our rapidly expanding global platform,” says Grigg. “Mike has a track record of handling complex projects at an immense scale and will be extremely valuable as clients turn to JLL’s Asset Management team as a key, strategic partner in navigating their portfolios throughout the pandemic.”
Prior, Wernet served as a Vice President of Finance Planning and Analytics for RLJ Lodging Trust, where he initiated company-wide benchmarking to drive profitability and implemented new processes and reporting for cost containment during the pandemic. In addition, Wernet spent 25 years at White Lodging Services Corporation, holding various leadership positions, including most recently serving as the Vice President of Asset Management and Capital Administration, where he managed and led firm-wide business planning and the annual budgeting process for over 160 diverse assets.
Wernet earned his Bachelor of Science from United States International University in London, England, where he studied hotel/motel administration and management. He is also a Certified Hotel Asset Manager (CHAM) by the Hotel Asset Management Association (HAMA), an asset management-focused hospitality network with over 200 industry professionals.
JLL’s Global Hotel Asset Management practice currently oversees 110 hotels and resorts under the umbrella of 45 brands with over 29,000 rooms valued at more than $10.3 billion; being the leading hotel asset management firm globally.
JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling $83 billion worldwide. The group’s 350-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.