Mark Capasso recently joined Newmark Valuation & Advisory as an EVP and member of the Hospitality, Gaming & Leisure practice. Capasso, based in the firm’s El Segundo, CA, office, brings more than 30 years of experience providing appraisal and consulting services for hotels and casinos.
Capasso is a respected member of the casino and hotel industries, having been a guest lecturer on hotel feasibility analysis at the University of Nevada, Las Vegas and author of several articles for industry publications, including a bi-monthly column in Casino Executive Magazine. Additionally, he has served as an expert witness and consultant in condemnation matters regarding gaming properties in Arizona, California, Nevada, New York and Puerto Rico. He has also been a panel member at the American Bar Association, Section of Real Property Probate and Trust.
“I have been doing this for almost 30 years and when I was looking for a new opportunity, I wanted two things: I wanted to join an established team that knew what they were doing, but I also wanted a place where I could leverage all of my experience and grow that team,” Capasso told Hotel Business. “I found both of those things with Newmark…I found a place that has a top-notch platform where I don’t have to spend a lot of time reinventing the wheel. I can just come in plug and play and really leverage that experience I bring almost immediately.”
John Busi, president of Valuation & Advisory, Newmark, said, “Appraisers are at their best when they combine the functional elements of organizing an appraisal with an in-depth connection with the industry they cover. Mark does this as well as anyone I know. It will be great to watch him again connect the dots and construct a well-supported and logical narrative with every appraisal he delivers.”
Before joining Newmark, Capasso was with Cushman & Wakefield’s Valuation & Advisory practice for 17 years, most recently serving as an executive director and the North American practice leader of its Hospitality & Gaming group, managing a team of appraisers. Prior, he worked in HVS’ Gaming Services division for nine years.
Bryan Younge, hospitality, gaming and leisure practice leader, Newmark Valuation & Advisory, has worked with Capasso before and considers him a mentor. “In the appraisal industry, which is so highly regulated, an expert’s greatest fear is to get something wrong, whether legally, mathematically or logistically,” he said. “We are really in the business of data and analyzing data and supporting our answers as best we can with as much data as possible.”
Younge said that while the reports are always reviewed by peers, Capasso does it differently, adding, “When he reviews reports…he will stop and ask you, ‘Does this make sense to you? All of this data points in this direction, but step back and think about it.’ In my case, I think 90% of the time I would actually recalibrate my projections based on conversations with Mark. I have definitely learned more from Mark than anybody else.”