This area of specialization is a broad category within the service industry and a multi-million dollar industry that includes lodging, food, and beverage services such as restaurants, night clubs, supper clubs and lounges, as well as event planning, theme parks, cruise lines, travel, and additional fields within the tourism sector.
Hospitality is a vital part to the local economy. Restaurants are often the cornerstone of communities, a place to gather and celebrate special occasions. The National Restaurant Association reports estimated sales in excess of $8.5 billion for 2017 and 280,500 food service jobs in the state of Wisconsin for 2018.
And FUN is the #1 reason for travel to Wisconsin. The state’s tourism economy reached $21.6 Billion according to the Wisconsin Department of Tourism, May 6, 2019.
The team at CBS-Global that specializes in the hospitality niche is diverse. While all CBS-Global intermediaries are licensed and qualified to represent buyers and sellers in a wide variety of industries, John Foster, former owner of Foster Needle in Manitowoc is the expert when it comes to transferring ownership of hotels and motels. Mary Lou VanDeusen, former owner of two successful restaurants herself, specifically focuses on the restaurant and supper club market. And broker Josh Phillips focuses on general hospitality businesses including bars and restaurants.
How we work
“I have always been interested in the hotel / motel business. Early in my business career I was a partner in the development, construction and operation of the former Manitowoc Sheraton Hotel which is now that city’s Holiday Inn. As a business intermediary I have been honored to help Hoteliers sell their franchised hotels. Related to lodging…valuing and selling hotels and motels is tricky. You need a trusted intermediary who’s been there before and understands the industry. I look forward to helping you either sell your motel / hotel property, or help you find a suitable investment property for your portfolio.” – John Foster, Business Intermediary
“I loved being in the exciting business of owning my own restaurants. I feel that I can give my clients added value with over 20 years hands-on experience owning, operating and managing these venues myself. Whether you will be selling your own business or are looking to buy and start up a new lifestyle, I will give you my full attention and knowledge to help you in your transition.” – Mary Lou Van Deusen, Business Intermediary