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Patrick Quek, a Founder of PKF Consulting,
Retiring as its President and CEO; 
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Thomas E. Callahan and David E. Arnold
Will Split CEO Responsibilities

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San Francisco.  July 1, 2004.   Patrick Quek, one of the  founders of PKF Consulting, the national hospitality consulting firm, is retiring as its president and CEO, the firm announced today.

PKF Consulting is one of three entities under the holding company, Hospitality Asset Advisors International.  The other two are the PKF Capital Markets Group and the Hospitality Research Group, based in Atlanta.

CEO responsibilities will be split between Thomas E. Callahan, PKF Consulting’s Chief Financial Officer and former Executive Vice President in charge of the firm’s San Francisco office, and David E. Arnold, former Executive V.P. in charge of the firm’s Philadelphia office.  According to the new structural plan, Arnold will oversee the PKF/C offices in the East – Boston, New York, Philadelphia, Washington, DC, Houston, and Atlanta – while Callahan will handle the firm’s Western offices  - San Francisco and Los Angeles.  Callahan will continue as CFO of the firm.  As co-CEOs, Callahan and Arnold will also be in charge of Hospitality Asset Advisors.

R. Mark Woodworth, will continue as Executive Managing Director of the Hospitality Research Group and be responsible for all marketing and national brand awareness for all three of the entities under Hospitality Asset Advisors.

Patrick Quek began his career with the Management Advisory Services (MAS) division of accounting firm Pannell Kerr Forster (then Harris Kerr Forster) in 1973.  He rose to become the firm’s National Director of MAS.  In 1992, with the restructuring of Pannell Kerr Forster, Quek and several other consulting executives (including Callahan and Arnold) purchased its hospitality consulting practice and launched PKF Consulting.

“We are grateful to Patrick for his vision and leadership over the years, and we wish him all the best for a much deserved retirement,” Callahan said.

Tom Callahan has spent his entire professional career with Pannell Kerr Forster and PKF Consulting.  He is a CPA, in addition to holding credentials as a Member of the Appraisal Institute (MAI) and Counselor of Real Estate (CRE).  He leads the firm’s national hotel financial consulting and appraisal practice.

David Arnold began his career with the hospitality consulting division of Laventhol & Horwath and became national director of its hospitality consulting practice.  He joined PKF, and later PKF Consulting, in 1991.  Arnold is an expert in hotel financing matters and is an internationally recognized authority on the conference center industry.

PKF Consulting is a national consulting and real estate firm specializing in the hospitality industry.  PKF Consulting affiliates are the Hospitality Research Group and the PKF Capital Markets Group. The firm has offices in New York, Boston, Philadelphia, Washington DC, Atlanta, Houston, Dallas, Los Angeles, and San Francisco.

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Contact:

Thomas E. Callahan
President
PKF Consulting 
425 California Street, Suite 1650
San Francisco, CA 94104
(415) 421-5378

Gary Carr 
Rising Moon Marketing & Public Relations
(925) 672-8717
carrpool@pacbell.net


 
Also See: Mary Jo Martin, a SVP with PKF Consulting, Recipient of Richard L. Swig Hospitality Leadership Award / April 2004


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