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as Chief Operating Officer, Part of the Reorganization of AFM's Management Division |
| SEATTLE, WA, Feb. 19, 2004 - AFM Hospitality
Corporation announced the appointment of Tracy L. Kundey, CHA as Chief
Operating Officer for its management division companies, Northwest Lodging
International (USA) and Northwest Lodging International (Canada).
Lawrence P. Horwitz, Chairman and CEO of AFM Hospitality Corporation said "I am excited by the return of Tracy L. Kundey to head the Northwest Lodging teams; Kundey, a graduate of Eastern Washington University, previously worked at a number of flagship hotels for a predecessor company of ours in the mid 1990s". Prior to re-joining our management team, Kundey was a founding partner in Hersha Hospitality Management, LP; the management division of Hersha Trust (ASX:HT) one of only eight hotel REITs in the United States. Kundey joined Hersha in 1998, one year prior to the company going public and organized the six existing hotels managed by five individual partners into one centralized management system encompassing: payroll, accounts payable, P&L reporting, purchasing, technology, sales & marketing; and capital formation. Kundey has a multi year track record of developing operating teams with a sales focused culture. In 2002 Kundey moved from the day-to-day operational responsibility to a more strategic role focusing on long-range planning and acquisitions, working with the board of directors. Kundey contributed as a key executive member growing Hersha from six hotels in Pennsylvania in 1998 to twenty-six hotels in seven states in 2004. Prior to Hersha, Kundey was President of Wellsprings Management Group based in Washington D.C., with a focus on mountain resorts, gaining experience in ski and golf resort operations. Kundey joins the company as part of the reorganization of AFM's Management division. As part of this reorganization, Tom Matthews, former President of Northwest Lodging International (Canada) Inc. and Ellen Walker-Matthews, former AFM Hospitality Corporation Vice President Sales and Marketing, have returned to their own family management business; Peter Smith, former CEO of AFM's Management Division, has made a personal decision to pursue other interests as part of the reorganization. Based in Seattle, Washington, Kundey assumes full responsibility for AFM's management division, where he will apply his twenty-five years of hands-on hospitality know-how and experience. Horwitz said "Years ago, Tracy convinced me that he knew how to spend more time looking forward than backward. Northwest Lodging International is changing gears and taking on a futuristic customer-driven charter with Kundey at the helm. We look at 2004 with great anticipation of opportunity and Northwest Lodging will be ready to take full advantage of the strengths within AFM Hospitality Corporation and the recovering industry." He continued, "we have great strength in managing brands like Howard Johnson, Ramada, Park Inn, Clarion, Traveller's Inn, and Aston, Kundey adds brand experience with Hampton, Hampton Inn & Suites, Hilton Garden Inn, DoubleTree Club, Holiday Inn Express, Holiday Inn Conference Center, MainStay Suites, Comfort, Sleep Inn, Best Western, Omni, Red Lion, and played a key role in his prior company's approval to manage Fairfield and Courtyard by Marriott branded hotels." About AFM Hospitality Corporation AFM Hospitality Corporation owns AFM Preferred Alliance Group Inc., AFM Asset Management Inc., AFM Hospitality (USA) Corporation, Northwest Lodging International (USA) Inc., Northwest Lodging International (Canada) Inc., AFM Asset Management Services, Inc., Trigild International, Inc., Special Asset Services, Inc. and Staffing Services International, Inc. It is the exclusive Canadian Master Franchisor for Aston, Best Inns, Hawthorn Suites, Howard Johnson, Knights Inn, La Quinta, Park Plaza, Park Inn, Traveller's Inn and Villager Lodge. AFM Hospitality Corporation operates or has open and/or executed franchise and management agreements with more than 250 hotels, restaurants and other nationally franchised service businesses throughout North America. AFM Hospitality Corporation is a publicly traded company listed on the Toronto Stock Exchange (TSX:AFM). This Press Release contains certain forward-looking statements and information from AFM Hospitality Corporation relating, but not limited to, the company's operations, anticipated financial performance, business prospects and strategies. |
| Contact:
AFM Hospitality Corporation http://www.afmcorp.com |
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