Chief Operating Officer Krissy Gathright to join Board of
Directors; expected to retire from COO role in 2020
Chief Financial Officer Bryan Peery expected to retire in 2020
RICHMOND, Va.--(BUSINESS WIRE)--
Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple
Hospitality”) announced today that the Company’s Board of Directors has
appointed Kristian Gathright to the Board of Directors, effective March
22, 2019, and that Mrs. Gathright plans to retire from her role with the
Company as Executive Vice President and Chief Operating Officer in the
first quarter of 2020. The Company also announced today that Executive
Vice President and Chief Financial Officer Bryan Peery intends to retire
from the Company in the first quarter of 2020.
Apple Hospitality is working with an executive search firm, with a focus
on external candidates, for a successor Chief Financial Officer. The
Company will utilize the depth of its existing team and the new Chief
Financial Officer to transition the responsibilities of Mrs. Gathright
and Mr. Peery. Mrs. Gathright and Mr. Peery plan to remain with the
Company over the next year to assist with an orderly transition and
ensure an efficient and seamless integration of the new structure.
Justin Knight, the Company’s President and Chief Executive Officer,
noted, “I cannot thank Krissy and Bryan enough for their dedication to
the Apple REIT Companies and our shareholders throughout their careers,
and we greatly appreciate their ongoing commitment to the Company during
this transition. Their ability to produce results and develop Apple
Hospitality and our team has been exceptional. I am excited Krissy has
joined our Board of Directors, where we will continue to benefit from
her outstanding industry knowledge and strategic expertise. Krissy and
Bryan have been instrumental in making Apple Hospitality what it is
today, and while I will miss my daily interactions with each of them
upon their departures, we have an incredible team that I am confident
will continue to drive the Company’s success.”
Mrs. Gathright was the first employee of the Apple REIT Companies, which
began in 1999. She has played a vital role in the Companies’ growth and
accomplishments, and through her leadership, passion and diligence, has
made Apple Hospitality a leader in operational excellence and
efficiency. In conjunction with her role with the Company, she has
developed outstanding industry knowledge and experience through her
involvement with brands, operators and organizations that support the
hotel industry. Mrs. Gathright’s appointment to the Apple Hospitality
Board of Directors increases its size from eight to nine members. She
will stand for election as a Board-recommended nominee at the 2019
Annual Meeting of Shareholders. Her anticipated retirement in 2020 is
not expected to impact her status as a Board member. Mrs. Gathright also
serves on the Board of Directors of the American Hotel and Lodging
Association, as President of the Courtyard Franchise Advisory Council,
and on the distribution advisory councils for Marriott and Hilton. She
holds a Bachelor of Science degree, Graduate with Distinction, in
Accounting from the McIntire School of Commerce at the University of
Virginia.
About Apple Hospitality REIT, Inc.
Apple Hospitality REIT, Inc. (NYSE: APLE) is a publicly traded real
estate investment trust (REIT) that owns one of the largest and most
diverse portfolios of upscale, rooms-focused hotels in the United
States. Apple Hospitality’s portfolio consists of 243 hotels with more
than 31,000 guest rooms located in 88 markets throughout 34 states.
Franchised with industry-leading brands, the Company’s portfolio
comprises 114 Marriott-branded hotels, 128 Hilton-branded hotels and one
Hyatt-branded hotel. For more information, please visit www.applehospitalityreit.com.
Forward-Looking Statements Disclaimer
Certain statements contained in this press release other than historical
facts may be considered forward-looking statements. These
forward-looking statements are predictions and generally can be
identified by use of statements that include phrases such as “may,”
“believe,” “expect,” “anticipate,” “intend,” “estimate,” “project,”
“target,” “goal,” “plan,” “should,” “will,” “predict,” “potential,”
“outlook,” “strategy,” and similar expressions that convey the
uncertainty of future events or outcomes. Such statements involve known
and unknown risks, uncertainties, and other factors which may cause the
actual results, performance, or achievements of Apple Hospitality to be
materially different from future results, performance or achievements
expressed or implied by such forward-looking statements. Such factors
include, but are not limited to, the ability of Apple Hospitality to
effectively acquire and dispose of properties; the ability of Apple
Hospitality to implement its operating strategy; changes in general
political, economic and competitive conditions and specific market
conditions; adverse changes in the real estate and real estate capital
markets; financing risks; litigation risks; regulatory proceedings or
inquiries; and changes in laws or regulations or interpretations of
current laws and regulations that impact Apple Hospitality’s business,
assets or classification as a real estate investment trust. Although
Apple Hospitality believes that the assumptions underlying the
forward-looking statements contained herein are reasonable, any of the
assumptions could be inaccurate, and therefore there can be no assurance
that such statements included in this press release will prove to be
accurate. In light of the significant uncertainties inherent in the
forward-looking statements included herein, the inclusion of such
information should not be regarded as a representation by Apple
Hospitality or any other person that the results or conditions described
in such statements or the objectives and plans of Apple Hospitality will
be achieved. In addition, Apple Hospitality’s qualification as a real
estate investment trust involves the application of highly technical and
complex provisions of the Internal Revenue Code. Readers should
carefully review Apple Hospitality’s financial statements and the notes
thereto, as well as the risk factors described in Apple Hospitality’s
filings with the Securities and Exchange Commission, including, but not
limited to, in the section titled “Risk Factors” in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2018. Any
forward-looking statement that Apple Hospitality makes speaks only as of
the date of such statement. Apple Hospitality undertakes no obligation
to publicly update or revise any forward-looking statements or
cautionary factors, as a result of new information, future events, or
otherwise, except as required by law.
For additional information or to receive press releases by email,
visit www.applehospitalityreit.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190325005755/en/
Apple Hospitality REIT, Inc.
Kelly Clarke, Vice President, Investor
Relations
804‐727‐6321
kclarke@applereit.com
Source: Apple Hospitality REIT, Inc.