Sage Hospitality Group has announced a series of promotions and organizational changes to help the company enhance its financial services, streamline growth efforts and leverage meaningful opportunities for operational effectiveness and alignment.
These announcements include the promotion of Jason Altberger to CFO for Sage Hospitality Group, the upcoming retirement of Ken Widmaier, the promotion of Dean Stambules to SVP of acquisitions & business development for Sage Investments and the streamlining of the company’s business development and finance/accounting services.
Altberger will serve as CFO for Sage Hospitality Group while maintaining his role as president of Sage Investments. Altberger joined Sage in 2018 as chief investment officer, where he has been focused on Sage’s growth in the real estate investment sector. In his new role, Altberger will continue to guide Sage’s investment efforts, while taking on the new responsibility of managing all financial actions across the entire organization.
Under Altberger’s leadership, Sage has created a shared services structure for finance and accounting across the enterprise that will serve each of its four companies: Sage Hotel Management, Sage Restaurant Concepts, Sage Investments and Sage Studios. In this new structure, all finance leaders, along with both the corporate and hotel and restaurant accounting teams, will be led by Altberger.
After more than eight years, Widmaier will officially retire on Nov. 5. Widmaier has been both COO and EVP of growth for Sage Hotel Management. He has played an instrumental role in helping the company meet its goals of having a portfolio of assets that is reflective of the long-term vision for Sage, according to the company.
Sage has also consolidated all its business development efforts within Sage Investments. Stambules has assumed responsibility for growing the company’s third-party management business while maintaining his responsibilities for seeking investment opportunities. The business development team from Sage Hotel Management, Gavin Roster, Dexter Tom and Raina Taillon, will move to Sage Investments under Stambules’ leadership.