Hotel Asset Value Enhancement, Inc. (hotelAVE) is the industry's leading international hotel owner, advisor, and asset management firm, with a legacy of unrivaled performance for our partners, owners, and lenders of 1,700+ hotels with more than 400,000 rooms, representing over $160 billion of hotel real estate value. The company's current asset management portfolio comprises over 80 hotels and $10.5 billion in assets under management. The firm advises on an additional $10 billion of hotel real estate annually and the firm’s operational effectiveness division implements projects that increased GOP margins by an average of 500 bps without impact to guest service as measured one year after installation. hotelAVE uses a highly data-driven and comprehensive approach, which is supported by a proprietary business intelligence & analytics platform. Founded in 2003 by Michelle Russo, the 2021 Jack A. Shafer Financial Advisor of the Year, hotelAVE’s 45 diverse professionals possess over 750 combined years of hotel ownership, consulting, and hospitality operations experience. hotelAVE is headquartered in Providence, Rhode Island with offices and professionals also located in Atlanta, Chicago, Los Angeles, Miami, New York, Raleigh, Seattle, and Washington, DC. For more information on hotelAVE, please visit www.hotelAVE.com.

Heartwood Group is a collection of five restaurants and other commercial properties.