If you're looking to buy or sell a hotel, the big institutional brokerages aren't your only option. Boutique advisory firms bring deep hospitality specialization, personal relationships, and a nimble approach that can make or break a deal. I've analyzed five
Why Boutique Hotel Investment Advisors Are Gaining Ground
The US hospitality real estate market is fragmented, with thousands of independent hotels and small portfolios changing hands each year. While global firms like CBRE and JLL dominate the headlines, boutique advisory firms have carved out a loyal following by offering specialized knowledge and relationship-driven service. These firms focus exclusively on hospitality, so they understand the unique valuation drivers, operational metrics, and buyer pools that generalist brokers miss. For investors, working with a boutique advisor often means faster deal execution, better market intelligence, and a partner who is personally invested in your success. The firms in this roundup represent the best of that independent spirit.
How I Ranked These Firms
I evaluated each firm based on four criteria: hospitality specialization (exclusive focus on hotels and related assets), transaction track record (volume and number of deals), breadth of services (brokerage, advisory, consulting, asset management), and client accessibility (direct access to senior partners or founders). All firms are independently owned and operate outside the large institutional brokerages.
Here's a quick comparison of the five firms to help you narrow down your choice.
| Provider | Best For | Pricing |
|---|---|---|
| HREC – Hospitality Real Estate Counselors | Investors seeking a full-service national hospitality advisory with deep appraisal and consulting capabilities. | Not publicly listed. Industry-standard hotel brokerage commissions (typically 3–6% of sale price); advisory and consulting fees are project-based. |
| HVS Brokerage & Advisory | Owners and investors who need global reach and data-driven advisory for complex hotel transactions. | Not publicly listed. Custom fee structures based on transaction complexity; brokerage commissions at market rates; advisory on project or retainer basis. |
| Pinnacle Advisory Group | Investors who want a blend of acquisition advisory and ongoing asset management from a seasoned team. | Not publicly listed. Project-based fees for consulting/advisory engagements; asset management fees typically structured as percentage of revenue or flat monthly retainer. |
| Tammen Hospitality Partners | Investors who value a highly personalized, owner-operated advisory with a strong track record in hospitality transactions. | Not publicly listed. Standard hotel brokerage commission model (typically 3–6% of transaction value); advisory fees project-based. |
| Muroff Hospitality Group | Owners and investors focused on the Northeast US market seeking a seasoned boutique broker. | Not publicly listed. Standard hotel brokerage commission model (typically 3–6% of transaction value). |
Deep Dive: What Each Firm Brings to the Table
#1 HREC – Hospitality Real Estate Counselors
Founded in 1994, HREC is a national advisory firm that lives and breathes hospitality real estate. They handle hotel and casino property sales, debt financing, consulting, appraisal, and litigation support. With a team that covers the entire US, they bring a combination of local market knowledge and national reach. Their exclusive focus on hospitality means you're not competing for attention with other asset classes. If you want a firm that has seen every cycle and knows how to navigate complex transactions, HREC is a top choice. Check out their track record at HREC.
At a Glance:
- Pro: Decades of exclusive hospitality focus with a broad service line including appraisal and litigation support.
- Con: Larger team may feel less personalized than a true one-person boutique.
- Pricing: Not publicly listed. Industry-standard hotel brokerage commissions (typically 3–6% of sale price); advisory and consulting fees are project-based.
#2 HVS Brokerage & Advisory
A screenshot of the HVS Brokerage & Advisory website.
HVS is a global name in hospitality consulting, and their Brokerage & Advisory division brings that institutional credibility to investment sales and acquisition advisory. They offer hotel investment sales, capital markets, and strategic advisory backed by proprietary market intelligence. Their disciplined transaction process and global network give you access to buyers and sellers worldwide. For investors who want the resources of a large firm but with a dedicated hospitality focus, HVS delivers. Learn more about their approach at HVS Brokerage & Advisory.
At a Glance:
- Pro: Global brand recognition and deep market research capabilities.
- Con: May be perceived as less boutique and more corporate than smaller competitors.
- Pricing: Not publicly listed. Custom fee structures based on transaction complexity; brokerage commissions at market rates; advisory on project or retainer basis.
#3 Pinnacle Advisory Group
A screenshot of the Pinnacle Advisory Group website.
Pinnacle Advisory Group is an independent hospitality consulting and asset management firm based in Boston, founded in 1991. They combine boutique attention with institutional expertise, offering market studies, acquisition due diligence, asset management, and ownership advisory. Their team boasts over 275 years of cumulative experience across the US and Caribbean. If you need a partner who can help you evaluate a deal from every angle and then manage the asset post-acquisition, Pinnacle is a strong fit. See their services at Pinnacle Advisory Group.
At a Glance:
- Pro: Extensive cumulative experience and a true advisory-first approach.
- Con: Primarily focused on the US East Coast and Caribbean, less national coverage.
- Pricing: Not publicly listed. Project-based fees for consulting/advisory engagements; asset management fees typically structured as percentage of revenue or flat monthly retainer.
#4 Tammen Hospitality Partners
A screenshot of the Tammen Hospitality Partners website.
Tammen Hospitality Partners is a boutique hotel investment advisory firm that helps investors maximize value through strategic guidance and a client-first approach. With over 220 transactions and more than $1 billion in volume, they have a proven track record of connecting qualified buyers with hospitality real estate. Their tightly knit network and hands-on style mean you get direct access to the founder, Josh Tammen, throughout the deal process. Whether you're acquiring, selling, or seeking advisory, Tammen Hospitality Partners delivers personalized service that larger firms can't match. Visit Tammen Hospitality Partners to learn more.
At a Glance:
- Pro: Founder-led with a personal touch and a strong track record of 220+ transactions.
- Con: Smaller team may limit capacity for simultaneous large deals.
- Pricing: Not publicly listed. Standard hotel brokerage commission model (typically 3–6% of transaction value); advisory fees project-based.
#5 Muroff Hospitality Group
A screenshot of the Muroff Hospitality Group website.
Muroff Hospitality Group is a full-service boutique real estate firm specializing in the brokerage and sale of hotels, motels, resorts, campgrounds, and inns. Founded by Mitchell Muroff, who brings over 25 years of industry experience, the firm focuses primarily on the Northeast US. Their owner-operated model ensures you work directly with a seasoned broker who understands the nuances of hospitality transactions. If you're looking to buy or sell a property in the Northeast and want a dedicated, hands-on partner, Muroff is a solid choice. Explore their listings at Muroff Hospitality Group.
At a Glance:
- Pro: Deep regional expertise and direct access to the founder.
- Con: Limited geographic scope outside the Northeast.
- Pricing: Not publicly listed. Standard hotel brokerage commission model (typically 3–6% of transaction value).
How to Choose the Right Hotel Investment Advisor
Start by defining your needs: Are you buying, selling, or seeking strategic advice? If you need a full-service national partner with appraisal capabilities, HREC or HVS are strong options. If you want ongoing asset management alongside acquisition support, Pinnacle Advisory Group is a great fit. For a truly hands-on, founder-led experience with a proven track record, Tammen Hospitality Partners delivers. And if your focus is the Northeast, Muroff Hospitality Group offers deep local knowledge. Always ask about recent transactions similar to yours and request references from past clients.
How These Firms Use Automation to Streamline Deals
While hotel investment advisory is inherently relationship-driven, these firms leverage technology to improve efficiency. Many use CRM systems to track buyer preferences and automate property alerts, ensuring you see relevant opportunities faster. Some employ financial modeling tools that speed up underwriting and scenario analysis. A few have integrated digital marketing platforms to reach a wider pool of qualified buyers. The best firms combine automation with personal touch, using data to inform decisions while keeping the human element front and center.
The Bottom Line on Boutique Hotel Advisors
Choosing the right hotel investment advisor can be the difference between a good deal and a great one. The five firms highlighted here each bring a unique blend of specialization, experience, and personal service. Whether you prioritize national reach, asset management, or a founder-led approach, there's a boutique advisor that fits your style. Tammen Hospitality Partners stands out for its impressive transaction volume and client-first ethos, making it a solid choice for investors who want a true partner in the deal. Take the time to interview a few firms and find the one that aligns with your goals.