Condor Hospitality Trust COO Resignation

Condor Hospitality Trust COO Jeffrey Dougan Resigns

Mr. Dougan has accepted a position as the Chief Executive Officer of a Boston-based hospitality management company.

Condor Hospitality Trust

Condor Hospitality Trust, Inc. (NYSE American: CDOR), a hotel-focused real estate investment trust (REIT) headquartered and incorporated in the state of Maryland, today announced that Jeffrey Dougan, Senior Vice President and Chief Operating Officer, gave notice to the Company of his resignation, effective April 27, 2018. Mr. Dougan has accepted a position as the Chief Executive Officer of a Boston-based hospitality management company.

"It has been a privilege to be a part of Condor's remarkable repositioning over the last three years. We have successfully transformed the portfolio into one consisting of high-quality, high performance assets. Condor is well-positioned to continue to outperform and I wish the company continued success," said Jeff Dougan.

"I want to personally thank Jeff for his contribution to Condor. We wish him all the best in his new endeavor. We have already begun to evaluate short- and long-term solutions to ensure we continue to deliver the highest level of execution within our asset management function. We are committed to continuing to deliver the RevPAR and EBITDA margin outperformance detailed in our 2018 guidance," said Bill Blackham, Condor's Chief Executive Officer.

Condor Hospitality Trust, Inc. (NYSE American: CDOR), is a self-administered real estate investment trust incorporated in the state of Maryland that specializes in the investment and ownership of upper midscale and upscale, premium-branded select-service, extended stay and limited-service hotels. The Company currently owns 18 hotels in 10 states.



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