Provenance Hotels announced that president Bashar Wali will step down from his role effective May 29th. Chairman and CEO Katherine Durant will assume the role of president following Wali’s exit, while founder Gordon Sondland will take on the title of chairman. Wali will continue to serve the Portland-based company as a senior advisor, in addition to his capacity as a shareholder.
“Over the past 15 years, I have been fortunate to work with the many talented people at Provenance—it has been a pleasure and an adventure to help build the Company alongside them,” Wali said in a statement. “I will remain invested, in so many ways, in Provenance Hotels, but I am looking forward to beginning my next chapter and exploring new ventures at the forefront of the revolution in the hotel industry.”
Sondland added: “Bashar has been a valued member of our team for nearly 15 years, and we thank him for the dedication and ingenuity he has brought to Provenance during his tenure. While we are sad to see him leave the company in his current capacity, we understand his desire to pursue a new venture and we are pleased that he will remain a significant presence in our world as an investor and friend. We wish him all the best in his next endeavor.”
Provenance also noted that Ernest Gidden has joined the team as CFO and Ralph Aruzza is taking on the role of chief marketing officer.
