Monty Bennett is a highly respected hotel magnate based in Dallas, Texas. He has significantly impacted the hospitality industry through his leadership of Ashford, Inc., Ashford Hospitality Trust, and Braemar Hotels & Resorts. These enterprises manage and operate over 100 hotels across the United States, demonstrating his extensive influence and expertise in the sector. His commitment to hospitality management and real estate has cemented his reputation as a pivotal figure in the industry.
Early Career and Expansion
The foundation of Monty's empire can be traced back to the late 1960s when his family initially began acquiring hotels. Under his leadership, he transformed the family business from owning six hotels into a public company with over 130 properties. His efforts have not only grown the number of hotels but also diversified the portfolio to include 13 resort properties spread across six states and the U.S. Virgin Islands. This impressive expansion showcases his strategic vision and keen business acumen.
Education and Personal Background
Bennett is a graduate of Cornell University, where he earned a distinction from the School of Hotel Administration in 1989. He also holds an MBA from Cornell's S.C. Johnson Graduate School of Management, one of the Ivy League's premier institutions. Growing up in Houston as one of seven children, he developed a strong work ethic that continues to guide his professional endeavors. Today, he divides his time between his homes in Dallas and Athens, Texas, where he has lived for over 30 years with his family.
Current Roles and Responsibilities
Monty currently serves as the chairman and founder of Braemar Hotels & Resorts, as well as Ashford Hospitality Trust. Additionally, he holds the role of CEO of Ashford, Inc., a company he founded. Through these leadership positions, he oversees various aspects of hospitality management, from property acquisition and development to investment strategies and asset management. His responsibilities extend across hundreds of properties, making him a significant force in the U.S. hospitality market.
Braemar Hotels & Resorts
In 2013, Monty Bennett founded Braemar Hotels & Resorts as a distinct entity from Ashford Hospitality Trust. The company now manages 13 premier properties, including notable assets like The Ritz-Carlton St. Thomas and The Ritz-Carlton Lake Tahoe. Braemar operates under five core guiding principles: ethics, innovation, profitability, engagement, and tenacity. These values reflect his commitment to excellence in every facet of the business, ensuring sustainable growth and continued success.
Ashford Hospitality Trust
Monty founded Ashford Hospitality Trust in 2003, focusing on upscale, full-service hotels. The company has grown to manage over 110 properties, including landmarks such as The Ritz-Carlton Atlanta and the Renaissance Nashville Hotel. His experience in navigating multiple market cycles has allowed Ashford Hospitality Trust to thrive, maintaining a solid transactional track record. The trust is also notable for its philanthropic activities, including its annual Community Service Day, further aligning with its values of giving back to the community.
Ashford, Inc.
Established in 2014, Ashford, Inc. serves as an advisor to both Braemar Hotels & Resorts and Ashford Hospitality Trust. In addition to providing asset management and investment services, Ashford, Inc. manages a broader portfolio that extends to other real estate and hospitality ventures. Bennett's foresight in launching a dedicated Hospitality Products and Services department has positioned the company as a leader in the hospitality sector. This department focuses on investing in businesses that service the industry, allowing Ashford, Inc. to drive innovation and growth.
Academic History and Professional Affiliations
Monty Bennett's educational background at Cornell University has significantly shaped his career. His dual focus on hotel administration and business management has given him a unique perspective on the hospitality industry. Over his more than 30-year career, he has gained extensive experience in hotel real estate, development, asset management, and finance. His professional journey includes memberships and leadership roles in various high-profile hospitality associations, further underlining his stature in the field.
Philanthropy and Community Engagement
Monty is a passionate philanthropist, having supported over 100 charitable organizations throughout his career. Some of the causes close to his heart include the Alzheimer's Association, Habitat for Humanity, and St. Jude's Children's Hospital. His commitment to civic engagement, particularly within the Dallas-Fort Worth area, is well known. He is also a dedicated supporter of educational and children's causes, consistently striving to improve lives through his philanthropic efforts.
Personal Life and Interests
Beyond his professional and charitable work, Bennett enjoys a range of personal hobbies. He is a proud father and stepfather of four and spends much of his free time at his family's ranch in East Texas. The ranch, which has been in the Bennett family for three generations, serves as a retreat for outdoor activities and time with friends and family. His other interests include exercise, game management, and reading, reflecting a balanced approach to both work and leisure.
Monty Bennett's influence in the hospitality industry is vast. His career has been marked by strategic growth, community involvement, and a dedication to excellence. His leadership of Ashford, Inc., Ashford Hospitality Trust, and Braemar Hotels & Resorts has reshaped the landscape of hotel management in the United States. His commitment to philanthropy and community service only further amplifies his legacy as not only a successful businessman but also a compassionate leader dedicated to making a positive impact both locally and nationally.
Portfolio Website : https://montybennett.co
