Item 5.02 - Departure of Directors; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Watermark Lodging Trust, Inc. (the "Company") today announced several pending changes to its management team:



•Mallika S. Sinha, the Company's Chief Financial Officer, will be departing the
Company in January 2022 to pursue a new opportunity. Ms. Sinha is not leaving
due to any disagreement with the Company. Other members of the Company's
management team will perform the duties of the chief financial officer until a
new appointment is made;
•Samuel C. Zinsmaster, currently a Senior Vice President and Head of Asset
Management of the Company, has been promoted to Senior Vice President and Chief
Operating Officer of the Company;
•Brendan M. Medzigian, currently a Senior Vice President and Head of
Transactions of the Company, has been promoted to Senior Vice President and
Chief Investment Officer of the Company; and
•Matthew Miller, age 47, currently a Vice President and Controller of the
Company, has been promoted to Vice President and Chief Accounting Officer of the
Company. Mr. Miller has been Vice President and Controller of the Company since
2020, when it was formed by the merger of Carey Watermark Investors Incorporated
("CWI 1") and Carey Watermark Investors 2 Incorporated ("CWI 2"). He was
appointed Vice President and Controller of both CWI 1 and CWI 2 in 2017 while he
was Vice President and Assistant Controller at W. P. Carey, which served as an
advisor to CWI 1 and CWI 2. Mr. Miller joined W. P. Carey in 2011. Mr. Miller is
a Certified Public Accountant licensed in New York and Pennsylvania and received
his Bachelor of Science in Business Administration/Accounting from La Salle
University in Philadelphia, Pennsylvania.

Biographical information regarding Messrs. Zinsmaster and Medzigian can be found in the Company's 2021 definitive proxy statement. Each of the promotions will be effective January 1, 2022.









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