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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or
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