Condor Hospitality Trust Inc., a hotel-focused real estate investment trust headquartered and incorporated in the state of Maryland, revealed that Jeffrey Dougan, SVP and COO, gave notice to the company of his resignation, effective April 27, 2018.
Dougan has accepted a position as the CEO of a Boston-based hospitality management company.
“It has been a privilege to be a part of Condor’s remarkable repositioning over the last three years. We have successfully transformed the portfolio into one consisting of high-quality, high performance assets. Condor is well-positioned to continue to outperform and I wish the company continued success,” says Jeff Dougan.
“I want to personally thank Jeff for his contribution to Condor. We wish him all the best in his new endeavor,” adds Bill Blackham, Condor’s CEO.
Blackham explains that the REIT has already begun to evaluate short- and long-term solutions to “ensure we continue to deliver the highest level of execution within our asset management function. We are committed to continuing to deliver the RevPAR and EBITDA margin outperformance detailed in our 2018 guidance.”
The company currently owns 18 hotels in 10 states. Condor’s hotels are franchised by a number of the industry’s most well-regarded brand families including Hilton, Marriott, and InterContinental Hotels Group, according to a prepared statement.