Current Corporate Office B. F. Saul Company Office (1892) The core goal of the B. F. Saul Company Hotel Division is to consistently improve the asset value of the portfolio of properties. This is achieved through expansion via new construction and acquisitions and continuous improvement in the financial and quality performance of our existing facilities. Fundamental values are applied to achieve this goal. • Long Term Focus – Operating and investment decisions are made with the long term value of the assets, people and business in mind. This leads to decisions that support consistent capital reinvestment in the physical assets, extensive development, training and benefit programs for team members and operational service levels that support quality achievement. • Highly Developed Business Ethics – The organization practices a high level of ethics in the many relationships that are integral to our business. Our guests, team members, peers and business partners are treated fairly and consistently. Successful long term relationships are established as a result. These practices are codified in an extensive ethics agreement that all management personnel ratify annually. • Focused and Well Managed Operations – Utilizing formalized business and goal planning processes strategic and tactical actions are planned to maximize the revenue and quality performance of each hotel. The property level efforts are supported by a team of corporate professionals that provide leadership in each area of expertise required for success. These efforts are monitored and appraised by a strong system of financial controls and operational reporting. • Ownership Approach – The goals and objectives of property management are directly aligned with those of the owner. With 100% ownership in each of the Hotel Division facilities, the B. F. Saul Company Hotel Division operates in a consistent manner across all assets and reaps the benefits of scale, Information Technology and standardization. Our Management Style To implement these values and achieve the mission of the B. F. Saul Company Hotel Division, a specific management style has been developed and is utilized. These “ways we work together” are important factors in our success. We strive to recruit, retain and promote individuals that demonstrate these management principles. Teamwork – There is no enterprise in the hospitality industry that is successful without effective teamwork among individuals, departments and functions. We stress a team approach with a collaborative and open atmosphere. Using documented goal and action plans we collaborate to maximize performance. Our incentive plans are designed to reward group goals while also recognizing individual accomplishments. Core standards and Values – Consistent reinforcement and direction is given to support the company’s values and goals. This is expressed in a specific written mission statement that is refined annually in a collaborative process. Support and Assistance – The corporate staff has been structured to provide support and assistance to the field while not removing responsibility or authority from the individuals that are closest to the customer. The roles of line management are strictly respected within a framework of appropriate business practices. Common Programs – A “best methods” approach is utilized to encourage continuous improvement throughout the organization. We inspect and reinforce actions utilizing key quality and operational benchmarks that are expressed in our mission statement. Franchise resources and programs are utilized to their fullest. Value and Respect – A fundamental element of our management style is to demonstrate value and respect we have for our guests and team members. This governs our approach to a wide range of issues. We recognize and celebrate the fact that diversity is strength as we combine our experiences with the many brought by our team members and guests from many cultures and backgrounds. The combination of these values and management style has created a successful organization that is poised for continuous growth.