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American Hotel Income Properties REIT (HOT.UN-T) has announced the death of its board chair, W. Michael Murphy, a long-time industry executive who had served for a decade on AHIP’s board.
The REIT is based in Vancouver but operates mainly in the United States, owning and managing a portfolio of 67 hotels under brands affiliated with Marriott, Hilton, IHG and Choice Hotels through license agreements. Its properties are located in 45 cities in 22 states.
Murphy died on July 24.
He had been a member of the AHIP board since its initial public offering in 2013, and was appointed chair in May 2016. He was also a member of, and chair of, various AHIP board committees during his tenure with the firm.
“We are very saddened to hear of Michael’s passing,” Jonathan Korol, the chief executive officer of AHIP, said in the announcement. “We would like to express our heartfelt sympathies to Michael’s family during this difficult time.
“He was a long-time member of the board of directors at AHIP, was well respected and highly regarded by those who knew him as a colleague and friend. We will miss his leadership, guidance, wit and business acumen.”
Michael Murphy's five-decade career
Murphy had served as head of lodging and leisure capital markets for the First Fidelity Mortgage Corporation until late 2023, part of a career in the industry which spanned over 50 years from his first hotels-related job in 1973.
He was also a director of Ashford Inc., a leading provider of asset management and other services to companies within the hospitality industry.
"We are very saddened to announce Michael's passing," said Monty J. Bennett, Ashford's chairman and CEO, in a separate statement. "We will miss him, both as a friend and as a valued business leader. On behalf of the directors and management of Ashford Inc. and the entire Ashford Group of Companies, we extend our heartfelt condolences to Michael's family during this difficult time."
From 1998 to 2002, Murphy served as the senior vice-president and chief development officer of ResortQuest International, Inc., an NYSE-listed company. Prior to joining ResortQuest, from 1995 to 1997 he was president of Footprints International, a company involved in the planning and development of environmentally friendly hotel properties.
Prior to that, from 1994 to 1996 he was a senior managing director of Geller & Co., a Chicago-based hotel advisory and asset management firm.
Murphy was appointed co-chairman of the Industry Real Estate Finance Advisory Council (IREFAC) of the American Hotel and Lodging Association on two occasions.
A resident of Atlanta, Murphy held a bachelor's of English from the University of Memphis and a master's degree in English from the University of Iowa.
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