Michael Everett Joins Sage Hospitality as Chief Investment Officer

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. June 14, 2012

Denver, CO - June 14, 2012 - Denver-based Sage Hospitality, an established leader in hotel management and investment, is pleased to announce that Michael Everett has joined Sage as Chief Investment Officer.

“Michael broadens our investment and capital markets expertise as we enter this next cycle of investment,” said Walter Isenberg, President and Chief Executive Officer of Sage Hospitality. “We believe the market will present us with significant opportunity, and Michael brings new skills to our already superb acquisition efforts. Sage has never been better positioned to co-invest with the industry's leading hotel investors.”

Sage is in a period of aggressive growth; pursuing acquisition and repositioning opportunities ranging from $25 million to $300 million in major markets across the United States. Sage will continue to manage hotels for select partners as well. Sage has a strong track record of success having added more than 20 properties to its portfolio in the past twelve months.

Everett joins an excellent business development team. Sage has been recognized as one of the nation's leading redevelopers of urban branded hotels and unique restaurants. A key element of the company's growth strategy going forward will be to focus on investing and redeveloping hospitality assets in urban centers. This effort will continue to be led by Ken Geist, Executive Vice-President of Development. Geist's direct focus on this element of Sage's growth will insure its continued success. In additional, Geist will focus on other key strategic initiatives for the company.

Everett is returning to Sage after spending almost 10 years at Colorado's Destination Hotels & Resorts, where he most recently served as the Senior Vice President of Hospitality Investments. While at Destination he distinguished himself as a disciplined and focused leader of strategic investment. Everett is a graduate of Cornell University's School of Hotel Administration, a member of the Cornell Society of Hotelmen and a regular speaker on hotel investment at industry conferences.

“We are thrilled to have Michael rejoining Sage,” said Isenberg. “Michael is the ideal candidate to lead our already strong acquisitions team. We are very fortunate to work with the strongest brands and hotel investors in the market and we look forward to growing our portfolio of hotels with them.”

About Sage Hospitality Sage Hospitality was founded in 1984 and has grown into one of the largest privately held hotel management and ownership companies in the nation operating more than 60, full-service hotels as well as extended stay and select-service properties. Sage Hospitality's portfolio includes brands from major international companies such as Marriott, Starwood and Hilton, as well as independent boutique hotels. Sage Restaurant Group created and manages 10 unique restaurant concepts including the acclaimed Mercat a la Planxa in Chicago. For more information, please visit www.sagehospitality.com.

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