Senior Vice President and Treasurer
|ARLINGTON, Va., September 13, 2004—Interstate Hotels & Resorts
(NYSE: IHR), the nation’s largest independent hotel management company,
today announced that Bruce Riggins has joined the company as senior vice
president and treasurer. In the position, he will oversee all treasury-related
functions, investor relations, planning and analysis and risk management.
Riggins previously was vice president of strategic planning and analysis for MeriStar Hospitality Corporation (NYSE: MHX). Prior to that, he was senior director of finance for both MeriStar and Interstate, when the two companies shared a number of senior-level executives in a paper-clipped REIT/C-Corp structure.
“As we step up implementation of our hotel acquisition growth strategy through a private investment fund and other joint ventures, Bruce’s knowledge of the company and relationships with the investment community will be a valuable asset,” said Bill Richardson, chief financial officer. “Bruce’s first undertaking will be to complete the refinancing of our senior secured credit facility and subordinated term loan into a new senior secured credit facility.”
A certified public accountant, Riggins previously worked for the accounting firm of Deloitte & Touche L.L.P. He is a graduate of Virginia Tech with a bachelor’s degree in accounting.
Interstate Hotels & Resorts operates approximately 270 hospitality properties with more than 60,000 rooms in 40 states, the District of Columbia, Canada, Russia, and Portugal.
Vice President, Corporate Communications
|Also See:||Interstate Hotels & Resorts Ramps Up Management Training; Classes in Revenue Management and Sales & Catering Management Designed to Help the Company Maximize Revenues at 270 Hotels / Aug 2004|
|Interstate Hotels & Resorts Reports 2nd Qtr Net Loss of $2.7 million Compared with a Loss of $0.5 million a Year Earlier; Terminates Intercompany Agreement with MeriStar / Aug 2004|