NEWTON, Mass.--(BUSINESS WIRE)--
Hospitality Properties Trust (Nasdaq: HPT) today announced that Brian E.
Donley has been appointed as Chief Financial Officer and Treasurer,
effective January 1, 2019.
Mr. Donley has been HPT’s controller since 2007 and he has served in
various finance and accounting leadership roles at The RMR Group
(Nasdaq: RMR) since 1997. He has more than two decades of commercial
real estate experience, including expertise in corporate finance and
reporting, mergers and acquisitions, capital market transactions and
compliance. Mr. Donley is also a certified public accountant.
Mr. Donley succeeds Mark L. Kleifges who is retiring and therefore
resigning from his positions with both HPT and RMR effective December
31, 2018. Mr. Kleifges has been with both HPT and RMR since 2002. To
ensure a smooth transition, Mr. Kleifges will remain a non-executive
employee of RMR until his retirement on June 30, 2019.
Adam Portnoy, Managing Trustee of HPT and Managing Director, President
and Chief Executive Officer of RMR, made the following statement:
“Mark joined HPT and RMR in 2002, not long after the REIT Modernization
Act shifted lodging REITs away from triple net leases to management
agreements. He, along with current HPT CEO John Murray and the HPT
Board, were instrumental in shaping HPT’s strategy in the lodging REIT
space, one that has artfully positioned the management agreements to
provide protections to certain HPT cash flows compared to lodging REIT
peers. Over the years, his contributions have led to HPT’s well
maintained, diverse and scaled portfolio, the successfully renegotiated
management agreements that continue to include industry unique cash flow
support features today, a conservative balance sheet and cash flow
profile that have supported the company’s strategy and contributed to
HPT’s ability to maintain its investment grade ratings and generate
EBITDA and dividend growth over time. On behalf of the HPT and RMR
Boards, I want to thank Mark for his many years of service.”
Mr. Donley has also been recently appointed as Chief Financial Officer
and Treasurer of the RMR Real Estate Income Fund (NYSE American: RIF).
Hospitality Properties Trust is a real estate investment trust, or REIT,
which owns a diverse portfolio of hotels and travel centers located in
45 states, Puerto Rico and Canada. HPT's properties are operated under
long term management or lease agreements. HPT is managed by the
operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an alternative
asset management company that is headquartered in Newton, Massachusetts.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20181025006039/en/
Hospitality Properties Trust
Katie Strohacker, 617-796-8232
Senior
Director, Investor Relations
www.hptreit.com
Source: Hospitality Properties Trust