Lauris Molbert


Lauris Molbert is the former CEO of TMI Hospitality L.P.  TMI is a developer, operator, and owner of select-service and extended-stay hotels.  It owns and operates approximately 200 hotels in 24 states and has 4,500 employees.  Prior to TMI, Molbert spent 15 years as an Executive Vice President and Chief Operating Officer of Otter Tail Corporation.  Otter Tail is a publicly traded company (NASDAQ:OTTR) where Lauris was responsible for the company’s operating companies and corporate development.  Lauris joined Otter Tail in 1995 to lead and develop a diversification strategy to expand the electrical utility business into a diversified holding company.  During this time he directed and completed more than 45 acquisitions and consolidated revenues grew from $300M to over $1.2B.  Lauris joined Otter Tail from Conmy, Feste, Bossart, Hubbard and Corwin, LTD, a Fargo, N.D. based law firm where he focused his practice on banking and finance law.  Molbert is a member of the Minnesota and North Dakota State Bar Associations and also is a licensed CPA in North Dakota and holds a J.D. from the University of North Dakota, Grand Forks, and a bachelor’s degree in banking, finance and accounting from UND.  Molbert is the past Chairman and current member of the Board of Sanford Health, an integrated healthcare provider headquartered in Fargo, N.D. and Sioux Falls, S.D.  Sanford is now considered the largest, rural, not-for-profit health care system in the nation with locations in 112 communities in seven states.