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Provenance Hotels Promotes Howard Jacobs and Bashar Wali Promoted to President
and Chief Operating Office and Executive Vice President and
Chief Development Officer, Respectively

PORTLAND, Ore. – October 7, 2008 - Provenance Hotels is pleased to announce two promotions in senior positions at the corporate level: Howard Jacobs has been elevated to President and Chief Operating Officer and Bashar Wali has been elevated to Executive Vice President and Chief Development Officer. The promotions come at a key time in the company’s growth when solid development and success have been proven and expansion is quickly on the horizon. 
“Our company goal is to remain competitive in our markets with top people in the industry,” said Gordon Sondland, Chief Executive Officer of Provenance Hotels. “Howard Jacobs and Bashar Wali are highly qualified professionals and have been instrumental in Provenance’s success managing and operating five hotels with more in the pipeline.” 
Howard Jacobs, Chief Operating Officer, has been promoted to President of Provenance Hotels leading all operations for the company’s owned and managed assets, and asset managing all other properties owned by the company. In addition, new responsibilities include oversight on acquisition, development, strategic planning and system integration.
With an extensive hospitality background for companies such as Hyatt Hotels, Hilton, Kimpton Hotels and R.R. Donnelley, Jacobs launched Provenance with its core investment partners in 2001 and was elevated to Chief Operating Officer in 2003. 
Bashar Wali, formerly Director of Acquisitions and Development, has been promoted to Executive Vice President and Chief Development Officer overseeing strategic initiatives, acquisitions and development, deal analysis and projections, capital deployment, financing and lending, tenant relations, lease negotiations, non-hospitality activities, such as retail, and overall real estate activity. 
Wali brings more than 16 years of experience to his new role at Provenance. Most recently, he served as Vice President of Grand Heritage Hotels overseeing expansion and capital deployment efforts in North America. 
Prior to Grand Heritage, Wali held a variety of management and executive positions at Wyndham International and at The Flatley Company. 
Provenance Hotels focuses on urban full-service hotels between 100 and 400 rooms. It is actively looking to acquire additional assets primarily in the Western United States and Western Canada as an outright purchase or a joint venture with existing owners. It is also keenly interested in specific key suburban or airport locations that are currently branded or underperforming. With its expertise in developing a story around the arts, the company finds properties that it can de-flag and re-brand completely. 
Provenance Hotels currently owns and operates five hotels: Hotel Lucia in Portland, Ore. (Conde Nast Traveler’s Top Hotels in the World), opened in 2002; Hotel deLuxe in Portland, Ore.(Condé Nast Traveler’s Gold List), recently opened in 2006; Hotel Max in Seattle, Wash. (honored with multiple design awards), opened in 2005; Hotel Murano in Tacoma, Wash. (honored with multiple design awards), opened in 2008; and Hotel Preston in Nashville, Tenn., opened in 2003. 
About Provenance Hotels
Provenance Hotels conducts a wide array of services in the hotel industry that include financing, developing, acquisitions and operating hotels nationwide. It strategically works with both independently owned and nationally affiliated brands with an emphasis on mid-sized upscale properties. It passionately specializes in redeveloping boutique urban hotels with a distinct art direction, such as the Hotel Lucia and Hotel deLuxe in Portland, Ore., the Hotel Max in Seattle, Wash., and the Hotel Murano in Tacoma, Wash. Provenance Hotels, formerly Aspen Hotel Group, can be found on the Web at

Dina Nishioka
Public Relations Director
Provenance Hotels
An Aspen Company
503.295.2122 x223 office

Also See: Boutique Urban Hotel Owner, the Aspen Hotel Group, Changes Name to Provenance Hotels / January 2007
The 130-room Mallory Hotel in Downtown Portland Being Acquired by the Aspen Hotel Group / July 2004

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