PHOENIX AMERICAN ANNOUNCES NEW CLIENT PARTNERSHIP WITH ASHFORD INC.

SAN RAFAEL, CA – Phoenix American (“Phoenix”) is pleased to announce its new client partnership with real estate investment fund sponsor Ashford Inc. Phoenix will fulfill the agent and back-office operational needs of Ashford with its industry-leading investor services platform featuring the state-of-the-art STAR-XMS shareholder management/transfer agent system. Ashford will benefit from Phoenix American’s combination of advanced technology, partner-oriented client service and long experience with the unique operational requirements of alternative investment funds.

Principal-Driven Strategic Investments in Real Estate and Hospitality

Ashford (NYSE American: AINC) is an alternative asset management company with a portfolio of strategic operating businesses that provides global asset management, investment management and related services to the real estate and hospitality sectors. Currently, Ashford serves as the advisor to two NYSE-listed real estate investment trusts, Ashford Hospitality Trust (NYSE: AHT) and Braemar Hotels & Resorts (NYSE: BHR). Ashford Trust is focused on investing in upper upscale, full-service hotels. Braemar’s strategy is to invest in luxury hotels and resorts. Combined, Ashford Trust and Braemar Hotels & Resorts own 114 hotels with more than 26,000 rooms representing $8.1 billion in gross assets.

“We are very excited about the new partnership with Phoenix American Financial Services,” said C. Jay Steigerwald III, President of Ashford Securities. “This strategic partnership will allow us to provide best-in-class customer service across our selling group members and their investors as we continue to expand our alternative investment platform.”

Advanced Client-Oriented Fund Administration 

With the growing variety and sophistication of alternative investment funds and the increasing demands of both investors and regulators, advanced operational solutions are critical to the success of today’s fund sponsors. Phoenix American has combined the most efficient systems and precision back office processes in alternative investments since its origins as a fund sponsor in 1972. Phoenix’s industry-leading STAR-XMS transfer agent system is the result of the company’s direct experience as a fund sponsor as well as decades of experience as an administrator for alternative investment funds.

“Ashford is a principal-driven company focused on ethics, innovation, profit, engagement and tenacity,” said Andrew Constantin, Chief Operation Officer for Phoenix American. “These are the same principles that drive our commitment to client success and investor satisfaction. We look forward to contributing to the success of Ashford’s vision.”

Phoenix American Financial Services, Inc. provides back office outsourcing services including fund administration, fund accounting, transfer agent services, investor services and sales and marketing reporting to management firms in the alternative investment industry. The Phoenix American aircraft group, including its Irish subsidiary, PAFS Ireland Limited, provides managing agent services for asset-backed securitizations (ABS) in the commercial aircraft and engine leasing industry. Phoenix American is an affiliate of Phoenix American Inc. along with Phoenix American SalesFocus Solutions. Phoenix American has five offices worldwide, was founded in 1972 and is headquartered in San Rafael, CA.