Ashford Hospitality Announces Additions to Senior Management Team
March 25 2008 - 9:00AM
Business Wire
Ashford Hospitality Trust, Inc. (NYSE: AHT) today announced that
two lodging and asset management veterans have joined the Company�s
management team to lead Ashford�s asset management initiatives.
Alan L. Tallis has been named Executive Vice President and Larry
Doyle has joined as Senior Vice President of Asset Management.
Ashford also announced the addition of Donald J. Denzin as Senior
Vice President of Human Resources. Mr. Tallis, who has been serving
in an advisory capacity for Ashford since July, will oversee the
asset management functions of the Company as well as the
value-added, development and redevelopment projects underway and
planned for its recent 51-hotel portfolio acquisition. A 27-year
industry veteran, Mr. Tallis was previously a senior advisor to
Blackstone Real Estate Advisors following its acquisition of La
Quinta Corporation, where he was President and Chief Development
Officer of LQ Management LLC and President of La Quinta Franchising
LLC. Mr. Tallis has held numerous executive positions both at La
Quinta Corporation and Red Roof Inns, Inc. During his tenure with
both organizations, he was responsible for implementing growth
strategies that included developing and implementing programs to
franchise both brands. Mr. Doyle will be responsible for the
day-to-day asset management of the Company�s hotels. Mr. Doyle was
most recently Senior Vice President, Asset Management for Alcor
Acquisition LLC, where he prepared and positioned the MeriStar
portfolio of hotels for sale, working closely with Blackstone Real
Estate Advisors. Prior to that time, he held the same position at
MeriStar Hospitality Corporation. During his 27-year career in the
lodging industry, Mr. Doyle has held various senior asset
management, operations and general manager positions with a track
record of successful start-ups, turnarounds, acquisitions,
dispositions and operation of award-winning hotels in the U.S. and
the U.K. Prior to joining Ashford, Mr. Denzin was Vice President of
Human Resources at Brandywine Realty Trust and its predecessor
Prentiss Properties for seven years. His background also includes
several years as the Chief People Officer for The Travelers Realty
Investment Company and GES America. His experience is highlighted
by the creation and oversight of productivity enhancing and
employee development initiatives in a range of corporate and field
settings. Monty J. Bennett, President and Chief Executive Officer
of Ashford, noted, "We are very pleased with the addition of Alan,
Larry and Don to our team and look forward to their leadership in
our asset management efforts and the development of our staff. All
three are well-respected and recognized within the industry. With a
sizable value-added renovation program planned for the next several
years and the importance we have placed on our internal growth
initiatives, Alan and Larry�s proven asset management, operations
and brand management expertise will play a key role in Ashford�s
overall performance. Don�s effort will help cement the bonds among
all associates in our growing platform." Ashford Hospitality Trust
is a self-administered real estate investment trust focused on
investing in the hospitality industry across all segments and at
all levels of the capital structure, including direct hotel
investments, first mortgages, mezzanine loans and sale-leaseback
transactions. Additional information can be found on the Company's
web site at www.ahtreit.com. Certain statements and assumptions in
this press release contain or are based upon "forward-looking"
information and are being made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to risks and
uncertainties. When we use the words "will likely result," "may,"
"anticipate," "estimate," "should," "expect," "believe," "intend,"
or similar expressions, we intend to identify forward-looking
statements. Such forward-looking statements include, but are not
limited to, the timing for closing, the impact of the transaction
on our business and future financial condition, our business and
investment strategy, our understanding of our competition and
current market trends and opportunities and projected capital
expenditures. Such statements are subject to numerous assumptions
and uncertainties, many of which are outside Ashford's control.
These forward-looking statements are subject to known and unknown
risks and uncertainties, which could cause actual results to differ
materially from those anticipated, including, without limitation:
general volatility of the capital markets and the market price of
our common stock; changes in our business or investment strategy;
availability, terms and deployment of capital; availability of
qualified personnel; changes in our industry and the market in
which we operate, interest rates or the general economy; and the
degree and nature of our competition. These and other risk factors
are more fully discussed in Ashford's filings with the Securities
and Exchange Commission. The forward-looking statements included in
this press release are only made as of the date of this press
release. Investors should not place undue reliance on these
forward-looking statements. We are not obligated to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or circumstances, changes in
expectations or otherwise.
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