Sage Hospitality Group has made a series of promotions and organizational changes that will allow the company to enhance its financial services, streamline growth efforts and leverage meaningful opportunities for operational effectiveness and alignment. The moves include the promotion of Jason Altberger to CFO for Sage Hospitality Group; the upcoming retirement of Ken Widmaier, EVP of growth; the promotion of Dean Stambules to SVP, acquisitions and business development for Sage Investments; and the streamlining of the company’s business development and finance/accounting services.
“As we continue to strengthen the foundations on which Sage was built, we are taking the opportunity to ensure that we are best positioned for future growth and success,” said Walter Isenberg, president/CEO, Sage Hospitality Group. “These changes reflect our desire to reaffirm our position as a best-in-class organization in the hospitality industry. Both Jason and Dean have established themselves as key leaders within Sage, and I look forward to their continued growth and contributions to the company. We also thank Ken for his many years of service and numerous contributions to the success of Sage.”
Altberger, who will also maintain his role as president of Sage Investments, joined Sage in 2018 as chief investment officer, where he has been focused on Sage’s growth in the real estate investment sector. In his new role, he continues to guide the company’s investment efforts, while taking on the new responsibility of managing all financial actions across the entire organization.
Under Altberger’s leadership, Sage has created a shared services structure for finance and accounting across the enterprise that will serve each of its four companies: Sage Hotel Management, Sage Restaurant Concepts, Sage Investments and Sage Studios. In this new structure, all finance leaders, along with both the corporate and hotel & restaurant accounting teams, will be led by Altberger.
After more than eight years of service to Sage, Widmaier will officially retire as of Nov. 5. An accomplished industry veteran with more than 30 years’ experience in hospitality, he has served as both COO and EVP, growth for Sage Hotel Management. He has played an instrumental role in helping the company meet its goals of having a portfolio of assets that is reflective of the long-term vision for Sage, the company reports.
Sage has also consolidated all its business development efforts within Sage Investments. Stambules has assumed responsibility for growing the company’s third-party management business, while maintaining his responsibilities for seeking attractive investment opportunities. Since joining Sage in 2014, he has been an integral part of the company’s acquisition team, where he has played a key role in nearly all of Sage’s new business-related acquisitions, developments and third-party management contracts, according to the company. The business development team from Sage Hotel Management, including Gavin Roster, Dexter Tom and Raina Taillon, will move to Sage Investments under Stambules’ leadership.