Core Insights - Atrium Hospitality appointed Rob Mangiarelli as CEO, previously serving as president for nearly three years [1][2] - Kimberly Furlong has been promoted to president, uniting the company's commercial and operations functions [2][3] - Lars Schrader has been promoted to senior vice president of operations, overseeing property operations across 73 hotels in 25 states [3] - The leadership changes aim to align talent and structure for sustainable growth [3] - General Counsel Seth Ruzi will retire at the end of 2025 [4] Company Leadership Changes - Rob Mangiarelli's appointment as CEO follows his tenure as president and previous roles in hospitality [1][2] - Kimberly Furlong's new role as president consolidates commercial and operational leadership [2] - Lars Schrader's promotion reflects a focus on operational oversight across the company's hotel portfolio [3] Strategic Focus - The company emphasizes delivering memorable guest experiences and creating growth opportunities for associates [4] - Leadership transitions are part of a strategy to enhance alignment and drive sustainable growth [3]

Core Viewpoint - Braemar Hotels & Resorts Inc. is transitioning the Sofitel Chicago Magnificent Mile to a franchise structure, which is expected to enhance the property's value while maintaining the Sofitel brand [1][2]. Company Transition - The 415-room Sofitel Chicago Magnificent Mile will be managed by Remington Hospitality under the existing Master Hotel Management Agreement with Braemar [1]. - The conversion is anticipated to be effective in May 2025, with Remington Hospitality offering positions to all employees on the conversion date [1]. - There is no required property improvement plan, but renovations to the lobby, restaurant, and meeting space are planned over the next two years [1]. Management Insights - Richard J. Stockton, President and CEO of Braemar, expressed optimism about the conversion, expecting an immediate uplift in property value due to the continued association with the Sofitel brand and the flexibility of the management agreement [2]. Company Profile - Braemar Hotels & Resorts is identified as a real estate investment trust (REIT) focused on luxury hotels and resorts [2].