SOURCE: Condor Hospitality Trust, Inc.

October 16, 2015 07:00 ET

Condor Hospitality Trust, Inc. Announces New Chief Financial Officer

NORFOLK, NE--(Marketwired - October 16, 2015) - Condor Hospitality Trust, Inc. (NASDAQ: CDOR), a hotel-focused real estate investment trust (REIT), announced today that Jonathan J. Gantt has been named Senior Vice President and Chief Financial Officer effective October 27, 2015.

The finance and accounting team has recently expanded with the addition of Arinn Cavey as Chief Accounting Officer. In Jonathan’s new position he will lead all capital raising requirements for the company, and shareholder and analyst relations, in addition to other responsibilities.

"Jonathan will greatly help drive the growth of Condor given our expectations to acquire a significant number of hotels in the upcoming two years," said Bill Blackham, Condor's Chief Executive Officer. "The acquisition initiative will require significant effort and focus to ensure a continuing source of capital to timely fund future transactions and we are confident that Jonathan has the correct background and knowledge to bring immediate benefit to Condor."

"Let me also thank Connie Scarpello for all her efforts and accomplishments and for remaining longer than previously announced to ease the transition," noted Blackham.

Gantt most recently served as Director of Treasury, Capital Markets and M&A at Starwood Hotels and Resorts Worldwide, Inc. a position he held since July 2013. Prior to his tenure at Starwood Hotels, Mr. Gantt was an associate and analyst with Summer Street Capital Partners for four years, and he served on the asset management team of HEI Hotels. He earned a Masters of Business Administration degree with distinction from the Tuck School of Business at Dartmouth and a Bachelor of Science degree with distinction from the Cornell University School of Hotel Administration.

About Condor Hospitality Trust, Inc.

Condor Hospitality Trust, Inc. (NASDAQ: CDOR), formerly known as Supertel Hospitality, Inc., is a self-administered real estate investment trust 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 46 hotels in 20 states. Condor's hotels are franchised by a number of the industry's most well-regarded brand families including Hilton, Marriott, InterContinental Hotels Group, Choice and Wyndham. For more information or to make a hotel reservation, visit www.condorhospitality.com.

Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statement. These risks are discussed in the company's filings with the Securities and Exchange Commission.

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