Waramaug Hospitality, a privately held hotel investor and asset manager, announces its current partner and principal Ferit Ferhangil will become its CEO, effective Jan. 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 decision is the culmination of a year-long planned transition, following two years during which HazelStream Capital and its principals Evren Unver and Ferit Ferhangil became deeply engaged as partners of Waramaug.
“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,” Ng said in a statement. “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.”
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.
“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,” Ferhangil said. “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.”