TPI Hospitality Revenue and Competitors

TPI Board of Directors from left to right: C. Suzanne Torgerson - Board Member, Mitchell D. Peterson - President, TPI Management, Tammy R., Torgerson - Board Member, Sheryl D. Walton - Senior Vice President Administration & Accounting, Thomas R. Torgerson - Chief Executive Officer, Donald M. Haas - Board Member and Kathy A. Aamot - Senior Vice President Finance & Development The Board of Directors of Torgerson Properties is comprised of the current senior management, Tammy R. Torgerson and two independent members, Donald M. Haas and C. Suzanne Torgerson. On a quarterly basis, the Board reviews and revises TPI's course projected for the future. Donald M. Haas, Managing Director of AGIO Capital Partners I, L.P., has been a board member of the TPI since January of 1998. The vast array of experiences dedicated towards growing solid performing companies Don brings to TPI's board has and continues to be invaluable. He is also responsible for the leadership role in the TPI Succession Plan. C. Suzanne Torgerson, mother of our current Chief Executive Officer, has remained as a joint venture partner in several properties and is an active member of TPI's board of directors since 1991. Her years of experience and insight associated with the hospitality industry provide the TPI board with significant resource. Tammy R. Torgerson, while a new addition to TPI's board, has been involved with the Company and the hospitality industry for the past 20 years. With this history, she will add valued perspective to the TPI board. TPI's current senior management brings an extensive experience level of leadership and industry knowledge to its operations. Thomas R. Torgerson, current C.E.O. and Chairman of the Board, has 25 years of hospitality industry experience. Under his leadership, TPI has grown its portfolio to over 30 properties open or under construction to date and over 1,500 associates. TPI's day-to-day operations are under the capable leadership of Mitchell D. Peterson, President TPI Management. Mitchell D. Peterson, whose degree is in Economics with specializations in Business Administration, Computer Science and Accounting, has been in the Hospitality Industry for 23 years, the last 17 years with TPI. The Administration, Accounting, Finance and Development functions of TPI are centrally located in our Willmar, Minnesota office. Our Senior Vice President of Administration & Accounting, Sheryl D. Walton, along with her knowledgeable staff, is responsible for all aspects of the accounting functions as well as the various phases of administration for the Company. Development and Finance is lead by the C.E.O., Thomas R. Torgerson, with the assistance of our newest management team member, Kathy A. Aamot, Senior Vice President of Development & Finance. Sheryl D. Walton, with a degree in Accounting, has 25 years of experience with TPI. In fact, she was the first associate ever hired personally by our current C.E.O., Thomas R. Torgerson. Kathy A. Aamot, brought a degree in Accounting and over 16 years of construction industry experience to our management team when she joined TPI five and a half years ago. As TPI has grown, we have established strategic alliances with a number of firms to provide us with a valuable source of expertise in their respective fields. This well-balanced team assembled by TPI of experienced management and strategic alliances is evident in the strong performance our properties show consistently in terms of profitability and superior guest service. By fostering an environment based on the traits of success as we define them and following our management philosophy, a strong infrastructure has been established. This infrastructure will drive TPI to succeed in strong market conditions and manage its properties safely through industry downturns. Currently there are 22 hotels and 9 restaurants open in the state of Minnesota that are owned and operated by Torgerson Properties and its partners. The principle of the company today is Thomas R.Torgerson. The company was purchased from his parents in 1990. Suzanne Torgerson, mother of the principle, has remained as an owner/partner and is an active member on the Torgerson Properties board of directors. The company has positioned itself as a well-recognized and respected franchisee of the finest full and limited service hotels as well as family/casual theme restaurants in the nation.