PORTLAND, OR—Provenance Hotels has revealed that Bashar Wali has decided to depart from his position as president of the company, effective May 29. Upon his departure, Katherine Durant, current chairman/CEO, will assume the role of president, and founder Gordon Sondland will assume the role of chairman. Wali will remain involved with Provenance as a senior advisor to the company and in his capacity as a shareholder.
“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,” said Sondland. “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.”
He continued, “I’m very pleased that Katy has agreed to expand her responsibilities and assume the role of president, in addition to her current work as CEO. She is a force in the U.S. real estate industry, and I look forward to working with her closely as I rejoin Provenance as chairman.”
“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,” said Wali. “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.”
In other executive moves, Ernest Glidden has also joined Provenance as CFO. Glidden previously served as a SVP, operations, finance, for Caesars Entertainment Corporation, and as a regional VP, finance, for Starwood Hotels & Resorts. He was also the CFO for U.S. operations at Talisker Corporation and an SVP of finance at Rosewood Hotels & Resorts. Ralph Aruzza has also joined the company as CMO. He was formerly the EVP/chief sales and marketing officer at Belmond and VP for sales and marketing at Rosewood Hotels. Finally, Klaudio Simic has been promoted to SVP of operations.