Before joining HWE, Falor worked for Cendant Corporation, the world�s largest lodging franchisor, most recently as president of the Knights Inn & Villager brands. Over his 13-year Cendant career, he also held senior executive positions in franchise sales and development, earning top producer honors 1992 through 1997, 1999 and 2001.

�Anthony has a proven track record of effective leadership, strong relationship building and top-notch customer service,� said William M. Hodges, CEO of HWE. �His clear understanding of both business and people � of the marketplace and of our customers� needs � is an invaluable trait that will reinforce the quality and success of our team and company.�

Additionally, Todd B. Ratliff has been named vice president of HWE�s focused services portfolio.  Prior to joining HWE, Ratliff served as a principal of an Atlanta-based commercial real estate information services company and played an integral role in the expansion of their on-line business.

�We are delighted for Todd to join our team,� said Hodges.  �Anthony and Todd both bring unique strengths to Hodges Ward Elliott.  I have no doubt that they will enhance our position as the dominant player in the hospitality real estate transactions industry.�

About Hodges Ward Elliott, Inc. (HWE)
Headquartered in Atlanta, Ga., Hodges Ward Elliott, Inc. (HWE) has sold more hotels and resorts than any other hotel real estate firm.  Since 1990, HWE has closed more than $8 billion in lodging assets, including $1 billion in 2002. For more information, call (404) 233-6000 or visit www.hwehotels.com.