UPDATE—Red Roof has told Hotel Business that Mohamed Thowfeek, who is a member of the Red Roof Board of Directors, has been appointed to provide executive oversight of the company. He has extensive experience in the hospitality industry and has been instrumental in all major Red Roof initiatives since acquisition of the brand. The senior management team will report directly to Thowfeek. In the interim, the board is conducting an extensive and thorough search to fill the CEO position.
CHICAGO—Andrew C. Alexander has left his role as Red Roof president/CEO to become the first CEO for Green Courte Residential Holdings LLC, the new residential holding company of Green Courte Partners LLC, a private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors.
Green Courte Residential Holdings will oversee the operations of True Connection Communities, the parent firm’s active adult/independent senior living platform, and Windward Communities, its land-lease community platform. True Connection Communities currently consists of 11 senior living communities with more than 1,800 units located in six states, and Windward Communities has 17 communities with more than 6,700 sites located in six states. Alexander will also join Green Courte as a managing director.
David Lentz, Green Courte’s CEO, said, “As we look at the opportunities that lie ahead, we anticipate that we will add additional residential platforms to our portfolio, so we felt it made sense to capture both the efficiencies and the enhanced capabilities that will come from creating a consolidated residential vehicle. We’re thrilled to welcome Andy to the Green Courte team and look forward to leveraging his deep experience developing diverse new brand platforms, marketing to uniquely targeted customer groups, and driving a strong and consistent customer experience.”
During his tenure at Red Roof, Alexander was responsible for developing and implementing a seven-year plan that transformed the company from an underperforming, single-branded entity to a multi-branded leader in the economy hotel space. Under Alexander’s leadership, Red Roof achieved the highest RevPAR of any brand in the economy segment, had the highest quality and service ratings for eight years running and consistently captured market share from its competitors in recent years.
Regarding his new role, Alexander said, “I’m excited to join the Green Courte team and partner with the talented senior leadership at True Connection Communities and Windward Communities, and I look forward to helping Green Courte continue to grow its customer-focused, lifestyle-driven residential housing businesses.”