Miami, Florda [December 14, 2023]— Waramaug Hospitality, one of the premier privately held hotel investors and asset managers in the U.S., announced today that current partner and principal Ferit Ferhangil will become its Chief Executive Officer, effective January 1. Ferhangil will succeed Leslie Ng, who will assume the position of Co-Vice Chairman and will focus on the company’s acquisitions by leveraging his extensive contacts. In addition to Ng and Ferhangil, the company board will include Evren Unver as Co-Vice Chairman and Paul Nussbaum as Chairman.
The strategic decision reflects the company’s continued commitment to its future growth as a best-in-class hotel investor positioned to capitalize on today’s challenging market conditions. It is also the culmination of a year-long planned transition, which follows two years during which HazelStream Capital and its principals Evren Unver and Ferit Ferhangil became deeply engaged as partners of Waramaug.
Waramaug Hospitality is recognized for its ability to source unique investment opportunities, add value through upgrades to its portfolio hotels, and deliver industry-leading risk-adjusted returns for its capital partners.
“Over the course of the past few years, Paul and I have gotten to know Evren and Ferit well and feel extremely fortunate to have found like-minded partners who share the same global vision, ambitious outlook, and moral compass for all that we do at Waramaug,” said Leslie Ng, Co-Vice Chairman, Waramaug Hospitality. “With his broad-based experience, Ferit is the perfect individual to take our company to the next level; our future is bright with Ferit at the helm.”
“It has been a pleasure for Evren and me to work with the talented and seasoned team at Waramaug for the past two years following our investment into Waramaug in 2021 and into its portfolio hotels since then. I look forward to working with my partners Paul, Leslie, and Evren to further grow Waramaug,” said Ferit Ferhangil, CEO, Waramaug Hospitality. “The Waramaug platform is built on the depth and quality of the relationships we have built with capital partners, lenders, hotel franchisors, management companies, and the brokerage community. Our success is attributable to these relationships and our team’s integrity, reliability, expertise, and acumen. I look forward to building upon Paul and Leslie’s decades of leadership and thank them and Evren for their trust in me to lead the next evolution of our business.”
With more than 30 years of experience in commercial real estate, hospitality, and finance, Ferhangil joined Waramaug in 2021 as a partner and principal, following HazelStream Capital’s investment in the company. He has previously been a CEO or board member of several real estate companies, hospitality industry groups, and financial institutions. Ferit has a master’s in business administration from the Tuck School of Business at Dartmouth College.
