R.M. Woodworth & Associates (RMWA), a provider of customized lodging research and advisory services, has merged with Core Hospitality Advisors, a firm specializing in hospitality real estate appraisals, to create Woodworth Core Group (WCG).
Adam Cowart and John Ritger, the co-owners of Core Hospitality Advisors, will be joining RMWA’s Mark Woodworth, Henry B. “Hank” Staley Jr. and Jill L. Bidwell as principals in the new firm, which will have offices in Atlanta, Jacksonville, Washington, D.C., Birmingham, Baton Rouge and Boise, Idaho. WCG’s clients include lenders, hotel owners, developers, public REITS, private equity firms, major hotel companies, municipalities, universities, and public agencies.
“In merging with Core Hospitality Advisors, we are taking our valuation expertise and database coverage to a new level,” said Woodworth. “We believe that the collective understanding of the drivers of change in hotel real estate profitability and value is critically important as all lodging industry participants work their way – willingly and unwillingly – through the protracted period of recovery following the Great Pandemic of 2020.”
“We have been friends with the principals of RMWA for many years and have had the opportunity to collaborate with them on numerous occasions since they formed their firm in early 2021” said Cowart and Ritger, in a joint statement. “We were fortunate to work with the RMWA team on a number of diverse projects in recent years including large portfolio valuation assignments, single asset appraisals, large resort lodging and residential developments as well as real estate property tax appeal litigation.”
;
