On February 20, 2017, Mr. Douglas A. Kessler announced that the board of directors of Ashford Hospitality Prime, Inc. that he will not stand for re-election to the Board at the company’s 2017 Annual Meeting of Stockholders. The decision was made in connection with Mr. Kessler’s appointment as Chief Executive Officer of Ashford Hospitality Trust, Inc. and not as a result of a disagreement with the Company or the Board.