DiamondRock Hospitality Company Names Troy Furbay CIO
Monday March 31st, 2014 - 10:32AM 0H
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BETHESDA, MD—DiamondRock Hospitality Company announced that Troy Furbay has joined the company as EVP and CIO, effective April 22, 2014.
In this role, Furbay will be responsible for DiamondRock Hospitality Company's acquisitions and dispositions and will play a critical role in strategic market analysis. He will report directly to Mark W. Brugger, DiamondRock's president and CEO.
"We are delighted to welcome Troy to our team and to add another talented and proven industry veteran to a key role to continue DiamondRock's positive momentum and to enhance the Company's focus on disciplined and measured capital recycling," stated Brugger. "Over his 25 years in the business, Troy's strategic vision and focused execution have translated into an impressive track record of sourcing and underwriting high quality hotels with excellent returns.”
Brugger continued, “Just as the addition of Rob Tanenbaum has enhanced our asset management function, we expect Troy to add significant value given his ability to leverage long-term relationships with leading industry players and the investment community, which will expand our network for sourcing attractive property investments and for monetizing non-core hotels. He has a proven detailed-oriented, data-driven approach to underwriting. We look forward to collaborating with Troy as we position DiamondRock to deliver superior shareholder returns across the lodging cycle."
Furbay has 25 years of hotel and real estate experience, most recently serving as CIO at Loews Hotels & Resorts. In this role, he was responsible for the creation and implementation of short and long-term growth strategies and for leading over $600 million in capital investments. He also led capital raising efforts, numerous asset development programs, and cultivated key relationships with brokerage firms and development communities that helped drive proprietary sourced transactions.
Prior to Loews, he served for nearly a decade as SVP, Acquisitions and Development at Kimpton Hotels where he was responsible for all aspects of the company's acquisition and development efforts. Prior to Kimpton, Furbay benefited from a wide variety of hotel experiences in operations, consulting and with public companies.
Tags: DiamondRock Hospitality Company • Hospitality • Ownership • Personnel •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.