Mr. Blankenship also announced that David C. Dressler, Jr. has resigned as president and as a director of Homestead. Mr.  Dressler has been affiliated with Homestead since 1996, where his focus had been on investments. As Homestead�s president, Mr. Dressler�s primary responsibilities included oversight of the company�s development program and the liquidation of the portfolio of land-held-for-sale. 

Mr. Blankenship noted that �David Dressler was instrumental in creating Homestead. The company continues to benefit from the results of his strong investment skills. More recently, his successful oversight of the sale of the excess land parcels has been an important factor in restoring Homestead�s financial well-being.� Following his retirement from Homestead, Mr. Dressler will remain a consultant with the company.

Homestead, based in Atlanta, Georgia, is an owner and operator of 136 extended stay lodging facilities in 28 states. Focused on the business traveler, Homestead has developed an operating system designed to ensure a consistent, high-quality, uniform lodging experience.