DALLAS, Feb. 21, 2017 /PRNewswire/ -- Ashford
Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the
"Company") announced today that its Board of Directors has
appointed Douglas A. Kessler as the
Chief Executive Officer of the Company, effective February 21, 2017. Monty J. Bennett, the Company's previous Chief
Executive Officer, remains Chairman of the Board of Ashford
Trust. As part of this appointment, Mr. Kessler will not
stand for reelection as a Director of Ashford Hospitality Prime,
Inc.
Mr. Kessler has been with Ashford Trust since its IPO in August
of 2003 serving most recently as President since 2009. Prior
to being appointed President of Ashford Trust, Mr. Kessler served
as Ashford Trust's Chief Operating Officer and Head of Acquisitions
beginning in May 2003. Mr. Kessler
has spearheaded numerous strategic, financial, and transaction
initiatives while at Ashford Trust and has been responsible for the
growth of the Company's asset base.
From July 2002 until August 2003, Mr. Kessler served as the Managing
Director and Chief Investment Officer of Remington Hotel
Corporation. Prior to joining Remington Hotel Corporation in
2002, Mr. Kessler worked at Goldman Sachs' Whitehall Real Estate
Funds from 1993 to 2002 where he asset managed several billion
dollars of diversified real estate investments, including
hospitality. While at Whitehall, Mr. Kessler served on the
boards or executive committees of several lodging companies,
including Westin Hotels and Resorts and Strategic Hotel
Capital. Mr. Kessler is a member of Urban Land Institute's
Hotel Development Council and is a frequent speaker and panelist at
lodging industry conferences including International Hotel
Investment Forum, Americas Lodging Investment Summit, Hotel
Conference Asia Pacific, and the NYU International Hospitality
Industry Investment Conference. Mr. Kessler earned an MBA and BA
from Stanford University.
Mr. Kessler has over 30 years of diverse real estate industry
experience in acquisition, sales, finance, asset management, and
capital markets.
"Douglas has been instrumental in all aspects of Ashford Trust's
growth over the past thirteen years, and we are extremely pleased
to announce his promotion to Chief Executive Officer," said
Monty J. Bennett, Ashford Trust's
Chairman of the Board. "His key roles in contributing to our
industry leading investor returns since our IPO make him the right
selection to lead Ashford Trust's future. Under Douglas'
leadership and focus, the goal will continue to be to maximize the
value for our shareholders."
Ashford Hospitality Trust is a real estate investment trust
(REIT) focused on investing opportunistically in the hospitality
industry in upper upscale, full-service hotels.
Ashford has created an Ashford App for the hospitality REIT
investor community. The Ashford App is available for free
download at Apple's App Store and
the Google Play Store by searching "Ashford."
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SOURCE Ashford Hospitality Trust, Inc.