Monty Bennett

In 1989, Bennett co-founded and joined Remington Hotels, a hotel company co-owned by Archie Bennett Jr., his father.[2] Bennett was the CEO of Ashford Hospitality Trust from its founding until 2017, and he remains the firm's chairman.[4] He was CEO of Braemar Hotels & Resorts until 2016 and since 2013 has remained its chairman.[5] Ashford is the advisor to two real estate investment trusts (REITs): Ashford Hospitality Trust and Braemar Hotels & Resorts, which combined own 120 hotels.[6] Bennett's 2015 annual compensation from Ashford was $6.65 million.[7]

During the COVID-19 pandemic, Ashford laid off or furloughed 95% of its 7,000 workers by late March 2020. In addition, one-third of the company's salaried staff was laid off permanently. Bennett forfeited 25% of his 2019 earned bonus, cut his own salary by 20% and later took his reduced salary in stock only.[8]

Also in March 2020, as the CARES Act for COVID-19 relief funding was being negotiated, Ashford Inc. spent $50,000 to hire its first lobbyists in Washington, D.C.[9] The lobbyists were both former fundraisers for Donald Trump.[10][11]

In April 2020, it was reported that Bennett's businesses were the largest recipient of funds distributed through the Paycheck Protection Program (PPP).[12] They applied for $126 million in PPP funds through multiple loans, and received at least $56 million.[10][13] Senate Minority Leader Chuck Schumer called for an investigation by the Small Business Administration into how Bennett's corporations were granted so much funding.[10] The United States Department of the Treasury later ordered publicly traded companies to return the funds, and Ashford and its subsidiaries did so.[9][10] Bennett blamed the backlash on the media.[1]

Bennett is the publisher of the Dallas Express, a daily newspaper launched in 2021 that covers news in Dallas, Texas.[14][15][16] The publication has drawn criticism for using the name of a historic progressive Black newspaper.[16]

In October 2020, The New York Times reported that Bennett had pitched a media network run by Brian Timpone to publish articles about topics ranging from COVID-19 stimulus legislation to U.S.–China policy.[17][18][19]

In 2018, it was reported that Bennett owned property with U.S. Congressman Lance Gooden (R-TX).[20] In 2020, Bennett clarified that he did own less than one acre at one time with Gooden and other investors, but no longer does.[21] Before they knew each other, Gooden helped Bennett with a dispute with a regional water district in 2011, supporting legislation that would help stop a proposed water pipeline from going through Bennett's 1,500-acre Athens, Texas ranch property.[20] Bennett spent over $235,000 of his own money to support the election of two Tarrant Regional Water District board members, who opposed the plan; both ultimately lost their elections.[22] With the aid of a legislator, Bennett created a conservation district on his land. He also brought endangered animals to live on the land amongst other exotic animals he already had, and created a cemetery where the pipeline was planned to be laid.[1] The dispute was eventually settled out of court, with the TRWD agreeing to route the pipeline around Bennett's property.[23] The water district board election results led to an investigation that was called "the largest voter fraud investigation in Texas history" by the Fort Worth Business Press. Thousands of ballots were found to be fraudulent, and the Texas Attorney General prosecuted an individual who eventually pled guilty and served time.[24]