David Johnstone, Executive Vice President, Miller Global Properties, LLC
Mr. Johnstone is a Managing Principal and Chief Investment Officer-Hotels with Miller Global and has been involved with hotels and other hospitality real estate for over 32 years. Since 1998, his responsibilities in the lodging industry have included acquisitions, developments, asset management and dispositions.
Mr. Johnstone began his real estate career in 1979 in Chicago with Laventhol and Horwath, a hospitality accounting and consulting firm. At the time of his departure in 1987, he was Manager of the firm’s Denver office.
From 1987 to 1989, Mr. Johnstone was employed as an Investment Manager by the Prudential Property Company in Atlanta, Georgia where he was responsible for a $600 million equity portfolio of hotel properties located in the Southeastern United States. His duties included operator oversight and capital expenditure management, acquisitions, dispositions and involvement in new hotel developments.
From 1989 to 1996, Mr. Johnstone was a Principal of Sage Hospitality Resources, a Denver-based owner/operator of hotels throughout the United States. Mr. Johnstone held the titles of Senior Vice President and Executive Vice President and was responsible for acquisitions and for developing and maintaining investor/partner relationships. He also provided asset management and investment advisory services to the firm’s partners and clients.
In 1996, Mr. Johnstone joined The Ritz-Carlton Hotel Company, a subsidiary of Marriott International, Inc., in Hong Kong as Vice President, Development for the Asia/Pacific region. His duties included negotiating operating/management and technical services contracts for new hotel projects as well as coordinating the company’s feasibility, legal and technical services resources throughout the development process.
Mr. Johnstone graduated from Michigan State University with a BSBA in Hotel, Restaurant and Institutional Management in 1979. He received an MBA in Real Estate and Construction Management from the University of Denver in 1986.
Mr. Johnstone was the founding president of Hospitality Asset Managers Association (HAMA) from 1992-1994.
Mr. Johnstone has also written industry articles and has authored, or co-authored the following book chapters:
- Chapter 5, Asset Management Issues, Hotel Investments: Issues and Perspectives, Edited by Lori E. Raleigh and Rachel J. Roginsky, Copyright 1995, The Educational Institute of the American Hotel & Motel Association.
- Chapter 11, The Hotel Sector, The Handbook of Real Estate Portfolio Management, Edited by Joseph J. Pagliari, Jr., Copyright 1995, Irwin Publishing.
- Chapter 8, Investing in a Global Economy, Hotel Asset Management: Principles and Practices, Edited by Greg Denton, Hospitality Asset Manager’s Association and Professor Paul Beals, University of Denver, Copyright (in process) January 2004, American Hotel and Lodging Association and The University of Denver