LAKEWOOD, NJ, MAY 9, 2005 - As a result of tremendous growth and expansion, The Lightstone Group, one of the largest private real estate owners in the country, has named Michael M. Schurer as Chief Financial Officer. In this capacity, Schurer will be responsible for managing the financial activities of both the company and the newly formed Lightstone Value Plus Real Estate Investment Trust. Schurer will be based in the company's Lakewood, New Jersey headquarters and will report directly to David Lichtenstein, chairman and principal of The Lightstone Group.
"We're fortunate to have lured Michael from the 'City of Roses' in Oregon," said Lichtenstein. "I guess you could say everything is coming up roses for The Lightstone Group."
With more than 20 years experience, Schurer previously served as Vice President and CFO of the Portland, Oregon-based Grand Heritage Hotel Group, LLC, a privately-owned operator of luxury, boutique and historic hotels in the United States and Caribbean. Prior to this position, Schurer worked in Columbia, Maryland as the CFO, Treasurer and Corporate Secretary at Humphrey Hospitality Trust, Inc., a publicly traded hotel REIT. Previous experience also includes Executive Vice President and CFO at Crown Golf Properties, L.P.; Division Controller for Marriott Vacation Club International; and Senior Manager at Marriott International, Inc. Schurer began his career as an auditor with Pannell Kerr Forster in Philadelphia, Pennsylvania, and Ernst & Young in Reston, Virginia.
This seasoned CFO holds a Bachelor of Arts in Accounting from Rutgers University and earned his CPA designation in the State of Pennsylvania.
