ARLINGTON, VA—Interstate Hotels & Resorts (OTC: IHRI), a leading hotel real estate investor and the nation’s largest independent management company, today announced that Thomas F. Hewitt, (top right photo) chief executive officer, has been named chairman of the board.He will succeed Paul W. Whetsell, (bottom left photo) who will step down as chairman and as a member of the board of directors, effective March 31.
“This transition is part of our regular succession planning that we’ve been working on for some time,” Whetsell said. “Tom has a long and distinguished career with Interstate and is the natural choice to continue to lead the company as chairman and chief executive officer. As CEO, he has compiled an impressive record over the past four years as we have grown and diversified the company.”
“As a founder of CapStar Hotel Company, one of our predecessor companies, Paul’s vision and entrepreneurial spirit were instrumental in the formation and growth of our company,” Hewitt noted. “He remains a strong supporter and significant shareholder of Interstate.” Interstate Hotels & Resorts has ownership interests in 57 hotels and resorts, including seven wholly owned assets.
Together with these properties, the company and its affiliates manage a total of 225 hospitality properties with more than 46,000 rooms in 37 states, the District of Columbia, Russia, Mexico, Belgium, Canada and Ireland.
Interstate Hotels & Resorts also has contracts to manage 16 to be built hospitality properties with approximately 4,000 rooms.
For more information about Interstate Hotels & Resorts, visit the company’s Web site: http://www.ihrco.com/.
Contact: Bruce Riggins, Chief Financial Officer, (703) 387-3344
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