Board of Trustees

Jon E. Bortz

Mr. Bortz brings to the Board his long and distinguished career as chairman and chief executive of two publicly traded REITs in the lodging industry, along with extensive experience in hotel asset management and development. Additional experience as follows:

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• LaSalle Hotel Properties (“LaSalle”), a publicly traded lodging REIT (April 1998 to September 2009) – Founder, President, Chief Executive Officer and a Trustee; Chairman of the Board (January 2001 until retiring from LaSalle)
 
• JLL, Inc. (“JLL”) (1981 to April 1998) – Founder and President of Hotel Investment Group of JLL (from January 1994), oversaw all of JLL’s hotel investment and development activities; Managing Director of JLL’s Investment Advisory Division (January 1995 to April 1998), responsible for certain East Coast development projects; Senior Vice President of JLL’s Investment Division (January 1990 to 1995), responsible for East Coast development projects and workouts
 
• Federal Realty Investment Trust (NYSE:FRT) – Member of Board of Trustees and its Audit Committee and Nominating and Governance Committee
 
• Nareit (formerly known as the National Association of Real Estate Investment Trusts) – Member of the Advisory Board of Governors and the Governance and Nominating Committee
 
• American Hotel & Lodging Association – Vice Chair and member of the Executive Committee of the Board of Directors; Chairman of its political action committee, HotelPAC
 
• B.S. in Economics from The Wharton School of the University of Pennsylvania; Certified Public Accountant (inactive)
 
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Cydney C. Donnell

Ms. Donnell brings to the Board experience in the public real estate industry and investment experience in publicly traded real estate securities, along with experience from teaching courses in real estate investment and real estate capital markets and portfolio management, including modules on corporate governance, at the business school level. Additional experience as follows:

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• Mays Business School of Texas A&M University (“Mays School”) (since January 2004) – Director of Real Estate Programs; Associate Department Head – Finance; Executive Professor
 
• European Investors/E.I.I. Realty Securities, Inc. (“EII”) (1986 to 2003) – Chair of the Investment Committee (2002 to 2003); Head of the Real Estate Securities Group and Portfolio Manager (1992 to 2002); VP and Analyst (1986 to 1992)
 
• RepublicBanc Corporation – real estate lending officer (1982 to 1986)
 
• Nareit (formerly known as the National Association of Real Estate Investment Trusts) – Member of the Institutional Advisory Committee and the Editorial Board
 
• American Campus Communities (NYSE:ACC), a publicly traded, student-housing REIT – Chair of the Compensation Committee, and member of the Executive Committee and the Risk Committee, of the Board of Directors
 
• Madison Harbor Balanced Strategies, Inc., a real estate fund of funds registered under the Investment Company Act of 1940, which liquidated and deregistered in 2017 – served as member of the Valuation Committee (chairperson), the Nominating and Compensation Committee and the Audit Committee of the Board of Directors
 
• B.B.A. from Texas A&M University; M.B.A. from Southern Methodist University
 
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Ron E. Jackson

Mr. Jackson brings to the Board including his experience as a chief executive of a large company in the golf industry, along with significant experience as a senior executive in the lodging and resort industry. Additional experience as follows:

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• Meadowbrook Golf, a multi-faceted golf company with divisions in golf turf equipment, golf maintenance and golf operations (since January 2001) – President and Chief Executive Officer
 
• Resort Condominiums International (“RCI”), a Cendant Company with 2,600 resorts in 109 countries (until 2001) – President and Chief Operating Officer
 
• Chartwell Leisure, a hotel owner/operator and developer (prior to RCI) – Chief Operating Officer
 
• Sunbelt Hotels and Sunbelt Management Company, which was the largest franchisee of Hilton Hotels in the United States (prior to Chartwell Leisure) – Founder, President and Chief Executive Officer
 
• B.S. in Finance and Marketing from Brigham Young University; M.B.A. from the University of Utah
 
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Phillip M. Miller

Mr. Miller brings to the Board his extensive experience as a senior executive in the financial services industry, along with his significant marketing and consulting expertise. Additional experience as follows:

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• First Data Corporation (September 2015 to September 2018) – Senior Vice President of Global Payment Relations and Sponsorships, managed First Data’s relationship with its payment networks and bank sponsors, globally
 
• MasterCard Advisors (2005 to September 2015) – Global Head – Acquiring Knowledge Center, responsible for Electronic Payments Thought Leadership and consulting engagements with banks globally (March 2012 to September 2015); Senior Vice President and Group Head, responsible for the disciplines of market development and marketing for the e-commerce and retail business groups (January 2010 to March 2012); Global Solutions Leader , responsible for consulting engagements in strategy and information services for large banks and card acquirers globally (2005 to 2010)
 
• Teleglobal International, LTD, a stored-value, secure online payments product (2002 to 2005) – Executive Chairman
 
• Chase Merchant Services, LLC, a division of Chase Bank (2001 to 2002) – President and Chief Executive Officer
 
• GE Money, the consumer financial services division of General Electric Company (1995 to 2001) – GE Money, the consumer financial services division of General Electric Company
 
• Citibank’s International Private Banking business (1985 to 1995) – Vice President of International Product Development and Marketing
 
• B.S. in Marketing and M.B.A. in International Business and Finance from The American University; Certificate of Corporate Governance – Effectiveness and Accountability in the Boardroom from J.L. Kellogg Graduate School of Management at Northwestern University
 
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Michael J. Schall

Mr. Schall brings to the Board his extensive experience as a senior executive in the financial services industry, along with his significant marketing and consulting expertise. Additional experience as follows:

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• Essex Property Trust, Inc. (NYSE:ESS), a publicly traded multifamily REIT (“Essex”) (since 1993) – President and Chief Executive Officer (since January 2011); Member of Board (since 1994); Senior Executive Vice President and Chief Operating Officer (2005 to January 2011), responsible for the strategic planning and management of Essex’s property operations, redevelopment and co-investment programs; Chief Financial Officer (1993 to 2005).
 
• The Marcus & Millichap Company (1986 to 1993) – Chief Financial Officer of Essex’s predecessor, Essex Property Corporation
 
• Churchill International, a technology-oriented venture capital company (1982 to 1986) – Director of Finance
 
• Ernst & Young (then known as Ernst & Whinney) (1979 to 1982) – audit department, specializing in the real estate and financial services industries
 
• American Institute of Certified Public Accountants – Member
 
• National Multi Housing Council – Member
 
• Nareit – Treasurer and Member of the Executive Board
 
• B.S. from the University of San Francisco; Certified Public Accountant (inactive).

 
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Bonny W. Simi

Ms. Simi brings more than 25 years of operations, human resources and technology experience to the Board, with executive leadership experience in the travel industry and experience as a director of a NYSE-listed hospitality and leisure company. Additional experience as follows:

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• JetBlue Technology Ventures, LLC, the venture capital subsidiary of JetBlue Airways Corporation (“JetBlue”), which incubates, invests in and partners with early stage startups at the intersection of technology, travel and hospitality
 
• (since January 2016) – President
 
• JetBlue (since September 2003) – Vice President Technology Innovations (since January 2016); Vice President Talent (September 2011 to January 2016), overseeing talent acquisition, performance management, succession planning, people analytics and organizational development; various operational, leadership and financial roles in Airports, System Operations, Call Center Operations and Flight Operations (September 3003 to September 2011)
 
• United Airlines, Inc. (1990 to 2003) – airline pilot
 
• United States Olympian (1984, 1988, 1992) – three-time competitor in the luge
 
• Network television commentator for the Olympics of 1994, 1998, 2002
 
• Red Lion Hotels Corporation (NYSE:RLH) (since March 2017) – Member of the Board of Directors, Chair of its Compensation Committee and member of its Nominating and Corporate Governance Committee
 
• B.A. in Communications from Stanford University; M.S. in Management from the Stanford Graduate School of Business; M.S. in Management Science and Engineering from the Stanford School of Engineering; M.S. in Human Resource Management from Regis University
 
• Board Leadership Fellow with the National Association of Corporate Directors; CERT Certificate in Cybersecurity Oversight from the CERT Division of the Software Engineering Institute at Carnegie Mellon University
 
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Earl E. Webb

Mr. Webb brings to the Board his extensive experience as a senior executive in the real estate and financial services industries, along with his significant capital markets expertise, and his prior public board experience with JLL and Players International. Additional experience as follows:

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• Avison Young, LLC, or Avison, a Canada-based commercial real estate company (“Avison”) (since September 2009) – President of U.S. Operations; member of Avison’s Board of Directors and its Audit and Executive Committees
 
• JLL (January 2003 to August 2009) – Chief Executive Officer of JLL’s Capital Markets Group in the Americas, responsible for strategic direction and management of all capital markets activities throughout the region
 
• Jones Lang LaSalle Americas, Inc. (1985 to December 2002) – Chief Executive Officer (February 1999 to December 2002)
 
• Continental Illinois National Bank (1981 to 1985) – Second Vice President in the Capital Markets Group
 
• Urban Land Institute – Member
 
• University of Virginia’s Gift Planning Council and the McIntire Foundation Board – Member
 
• Real Estate Roundtable – Member
 
• B.S. from the University of Virginia; M.B.A. from the J.L. Kellogg Graduate School of Management at Northwestern University
 
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