Portman Holdings has promoted executive vice presidents Ambrish Baisiwala and Richard Jones to chief executive and chief operating officers, respectively, as the firm looks to raise additional capital in the future to fund its development and investment activities.
The Atlanta-based firm said Baisiwala would be responsible for managing the firm’s real estate developments, investments and capital raising activities, reporting directly to Portman’s board of directors, which will continue to be led by chairman John Portman Jr. and vice chairman Jack Portman.
Jones, who has been promoted to chief operating officer and will report directly to Baisiwala, will be responsible for the firm’s global asset management and property management operations.
In a statement, Baisiwala said, over the next five years, Portman would concentrate on expanding its operations in the US, China, India and South Korea, where it has offices, and “raise capital to support our strategy”.
Prior to joining Portman, Baisiwala was development director for Abu Dhabi-based developer Aldar Properties. Jones joined Portman in 2005 having worked at hospitality investment and development firms Hardin Capital, Noble Investment Group and Marriott International.