Rob Hays, Ashford Hospitality Trust Inc.’s current president/CEO, will be stepping down effective June 30 after nearly 20 years of service to the company. Stephen Zsigray, the current SVP, corporate finance & strategy, will take over the role at that time.
Hays will spend the next few months working alongside Zsigray on a smooth transition before pursuing plans to work with his father on a unique business opportunity in an industry outside of real estate, according to the company.
“I’ve had the pleasure of supporting the company and our hospitality business for almost two decades and consider myself blessed to have guided this wonderful organization over the past four years,” said Hays. “Were it not for this opportunity I have, I would undoubtedly be at Ashford for the rest of my career. I’ve had the privilege of working with Stephen for many years. He is an exceptional leader and a terrific successor, possessing great vision and a deep understanding of our business and the industry. Ashford Trust is well positioned for long-term success.”
Monty J. Bennett, chairman, Ashford Trust, said, “We are incredibly grateful to Rob for his immense dedication and commitment to our organization. Although we’re disappointed with his departure, we fully appreciate and respect his desire to pursue his personal plans and business endeavors. The board is thrilled to have Stephen take on expanded responsibilities at Ashford Trust. He’s played a major role in the company’s success over the last decade and is a perfect fit to be Rob’s successor. I am confident that the transition to new leadership will be seamless.”
Zsigray has held his current position since May 2020. He also heads Ashford Inc.’s cash management platform and oversees corporate hedging strategy. Since 2020, he has helped the platforms raise more than $1.2 billion in common and preferred equity, secure more than $1 billion in new corporate and property-level debt financing and negotiated maturity extensions on more than $3 billion in mortgage debt, according to the company. Additionally, Zsigray serves as CFO/treasurer of Stirling Hotels & Resorts, a position he has held since November 2023.
Zsigray joined Ashford in 2014 as a trader and portfolio manager in Ashford’s investment management division, and subsequently served as president/COO of OpenKey, an Ashford-affiliated hospitality technology company that provides digital guest key and access control solutions to hotels worldwide. Prior to joining the company, he was with UBS Investment Bank in New York, where he traded and helped clients structure derivatives across equity, fixed-income and commodity markets. He began his career with Deloitte Consulting in St. Louis, where he advised Fortune 500 clients on issues related to mergers and acquisitions, business transformation and process improvement.
