American Realty Capital Hospitality Trust (ARC Hospitality), a non-traded REIT, has made room for Edward T. Hoganson as its new Chief Financial Officer.
Previously the executive vice president of Crestline Hotels & Resorts, LLC, Mr. Hoganson will serve as chief financial officer, treasurer, and secretary of ARC Hospitality. He replaces Nicholas Radesca who had been acting as interim CFO since May, 2014.
ARC Hospitality focuses on acquiring upper midscale, upscale, and upper upscale lodging properties with a concentration on the select service, extended stay, and small full service segments of the hospitality sector. It is franchised by leading global brands such as Hilton Hotels & Resorts, Marriott International, Hyatt Hotels, and more.
ARC Hospitality commenced its IPO in January, 2014 and as of September 30, 2014 had received total gross aggregate proceeds of $125.4 million. The company’s current portfolio consists of six hotels, totaling 1,181 keys. ARC Hospitality is also set to acquire the Equity Inns lodging portfolio on February 27, 2015, in a transaction that will add 13,744 rooms in 116 hotels across 31 U.S. states to the REIT’s portfolio.
“We are delighted that Ed will be joining the senior management team at ARC Hospitality,” commented Jonathan P. Mehlman, President and CEO of ARC Hospitality. He continued, “His cumulative experience in the hospitality industry focused on the financial and capital markets, his cultivated and long standing hospitality industry relationships and expertise, and his intellect and integrity, make Ed an ideal CFO selection as ARC Hospitality embarks on the final stages of its acquisition of the Equity Inns lodging portfolio,”
Mr. Hoganson worked at Crestline from 2007 until 2014 and prior to that, he was senior vice president of acquisitions for Sunrise Senior Living from 2004 until 2007. Mr. Hoganson received his undergraduate degree from Yale University, his MBA in finance from the Wharton School at the University of Pennsylvania, and earned his Masters of Arts in International Relations from the Lauder Institute at the University of Pennsylvania. In addition, Mr. Hoganson is an affiliate faculty member at George Mason University where he lectures on hospitality finance.