Jim Cihak Named CFO for Woodbine Development as Greg Mowatt Retires
John Davis Named VP of Asset Management
DALLAS, Texas - May 6, 2014 - Woodbine Development Corporation announces several changes to its management team, including the retirement of veteran Greg Mowatt as chief financial officer and promotion of Jim Cihak to that position. Additionally, Woodbine has hired John Davis to serve as vice president of asset management, a role previously held by Cihak.
"Greg's stability and depth of experience will be missed," said John Scovell, Woodbine president and CEO. "I'm comforted in knowing that he has groomed Jim for the CFO position. Both Woodbine officers have played a large part in Woodbine's success over the years. And John Davis is an outstanding addition to our team, as he brings a strategic skill set and hospitality experience to the table."
Mowatt had been with Woodbine for 38 years and was involved with virtually every hotel project in the company's portfolio, as well as financial engineering for Woodbine and its other real estate projects. Jim Cihak has served as senior vice president of asset management for Woodbine for the past 30 years.
Based in the company's Dallas, Texas, headquarters, Davis is responsible for managing Woodbine's portfolio of hotel and mixed-use properties, along with providing asset management services to third-party ownership groups. His duties include representing owners in dealing with hotel operators, maximizing operational performance and recommending capital investments. Davis also ensures compliance with management agreements, approves property budgets and works directly with individual property and corporate operating teams.
Davis joins Woodbine from a private equity firm specializing in hotel ownership. Prior to that, he served as a director of finance and accounting for Marriott International at several hotels and resorts throughout the Midwest, Southeast and Northeast.
Davis holds a Master of Business Administration degree from Duke University's Fuqua School of Business and a Bachelor of Science degree in Accounting from Purdue University.
About Woodbine Development
Woodbine Development Corporation is a 40-year-old full-service real estate company focused on development, investment/acquisition and asset management opportunities across the United States. The company specializes in hotels, resorts and golf courses; multiuse land and mixed-use developments; and real estate services provided to corporations, non-profit organizations and individuals. Woodbine has been involved with more than $2 billion in commercial real estate projects, including development, ownership and/or asset management of more than 6,000 hotel rooms, 18,000 acres of land and 126 holes of championship golf. To learn more, visit www.woodbinedevelopment.com.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
