ASHFORD HOSPITALITY TRUST ADDS HOTEL INDUSTRY VETERAN DAVE JOHNSON TO BOARD OF DIRECTORS

Rhea-AI Summary

Ashford Hospitality Trust (NYSE: AHT) has appointed Dave Johnson, an experienced hospitality and real estate executive, to its Board of Directors. Johnson will also serve on the Audit and Compensation Committees. Johnson is the Co-Founder and Managing Director of Horizon Capital Partners and previously founded Aimbridge Hospitality, where he was CEO from 2003 to 2021. He has extensive experience in senior roles at Wyndham International and currently serves on various boards, including Hilton Grand Vacations and Sonida Senior Living. Ashford Trust's Chairman, Monty J. Bennett, emphasized Johnson's valuable experience and perspective, which is expected to contribute significantly to the company's strategy and shareholder value.

Positive

• Dave Johnson's extensive experience in hospitality and real estate is likely to benefit Ashford Trust's strategic planning.
• Johnson's past leadership roles, including CEO of Aimbridge Hospitality and senior positions at Wyndham International, add considerable industry expertise to the Board.
• Johnson's current roles on boards of prominent companies like Hilton Grand Vacations and Sonida Senior Living further enhance his suitability for Ashford Trust's Board.
• Johnson's broad network and industry connections could provide valuable opportunities for Ashford Trust.

Negative

• The announcement does not include specific performance metrics or strategic plans that Johnson will implement, leaving uncertainty about immediate impacts.
• Johnson's appointment alone may not address any underlying issues or challenges currently faced by Ashford Trust.

DALLAS, June 10, 2024 /PRNewswire/ -- Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") today announced that Dave Johnson, a seasoned hospitality and real estate executive, has joined the Board of Directors as a new independent director as of the Company's recently held annual shareholder meeting.  Mr. Johnson was also appointed to serve on the Board's Audit Committee as well as the Compensation Committee. 

"We are extremely pleased to welcome Dave to our Board of Directors," said Monty J. Bennett, Ashford Trust's Chairman. "He brings a wealth of experience in the hotel industry, as well as a valuable perspective as both a CEO and director of large, publicly traded companies. We look forward to leveraging his broad experience as we continue to focus on executing our strategy and delivering value for our shareholders."

Mr. Johnson is the Co-Founder and Managing Director at Horizon Capital Partners LLC ("Horizon Capital"), a commercial, residential, and mixed-use land acquisition and development company located in McKinney, Texas. Prior to Horizon Capital, Mr. Johnson founded Aimbridge Hospitality, Inc. and served as its Chief Executive Officer from 2003 to 2021. Earlier, he spent 17 years at Wyndham International, as the President of Wyndham Hotels, among other senior-level operations, sales and marketing positions.

Mr. Johnson currently serves on the U.S. Travel Association ("USTA") board as a member of the Chairman's Circle and as a member of USTA's CEO Roundtable. Mr. Johnson has served as a director of Hilton Grand Vacations Inc. since 2017 and currently serves as the Chairman of the Board of Sonida Senior Living. Mr. Johnson previously served on several boards of directors, including Strategic Hotels & Resorts, Inc., where he was also a member of its audit committee and corporate governance committee from 2012 to 2016. From 2009 to 2012, Mr. Johnson served as a director of Gaylord Entertainment Company. He also serves on several nonprofit boards, including the Juvenile Diabetes Research Foundation and the Plano YMCA.

Mr. Johnson received his undergraduate degree in business economics from Northeastern Illinois University, graduating with highest honors.

Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing predominantly in upper upscale, full-service hotels.

Forward-Looking Statements

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. Forward-looking statements in this press release include, among others, statements about the Company's strategy and future plans. 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," "could," "plan," or similar expressions, we intend to identify forward-looking statements. Such statements are subject to numerous assumptions and uncertainties, many of which are outside of Ashford Trust'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: our ability to raise sufficient capital to pay off our strategic debt; our ability to repay, refinance, or restructure our debt and the debt of certain of our subsidiaries; anticipated or expected purchases or sales of assets; our projected operating results; completion of any pending transactions; our understanding of our competition; market trends; projected capital expenditures; the impact of technology on our operations and business; general volatility of the capital markets and the market price of our common stock and preferred stock; availability, terms and deployment of capital; availability of qualified personnel; changes in our industry and the markets 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 Trust's filings with the Securities and Exchange Commission.

The forward-looking statements included in this press release are made only as of the date of this press release. Such forward-looking statements are based on our beliefs, assumptions, and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking statements. You should carefully consider these risks when you make an investment decision concerning our securities. Investors should not place undue reliance on these forward-looking statements. The Company can give no assurance that these forward-looking statements will be attained or that any deviation will not occur. 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, except to the extent required by law.

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SOURCE Ashford Hospitality Trust, Inc.

FAQ

Who has Ashford Hospitality Trust appointed to its Board of Directors?

Ashford Hospitality Trust has appointed Dave Johnson to its Board of Directors.

What committees will Dave Johnson serve on at Ashford Hospitality Trust?

Dave Johnson will serve on the Audit and Compensation Committees at Ashford Hospitality Trust.

When did Dave Johnson join the Board of Ashford Hospitality Trust?

Dave Johnson joined the Board of Ashford Hospitality Trust following their recent annual shareholder meeting.

What is Dave Johnson's current role at Horizon Capital Partners?

Dave Johnson is the Co-Founder and Managing Director of Horizon Capital Partners.

What previous roles has Dave Johnson held in the hospitality industry?

Dave Johnson previously founded Aimbridge Hospitality and served as its CEO from 2003 to 2021. He also held various senior positions at Wyndham International.