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Thayer Lodging Group Names Jin Lee Managing Director
and Chief Investment Officer

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ANNAPOLIS, Md., February 10, 2009 — Thayer Lodging Group today announced that Jin Lee has joined the company as a managing director and will serve as its chief investment officer.  In his new role, he will be responsible for sourcing, due diligence, negotiating and structuring transactions.

“Jin brings extensive hotel investment expertise, with 19 years in the industry, in acquisitions, financing, development and dispositions, having been involved in more than $2 billion of transactions in his career,” said Leland Pillsbury, Thayer Lodging’s CEO and co-chairman.  “He will play a major role in our growth as we seek ways to take advantage of the current economic climate.  We have considerable equity available, and believe we will be one of only a small group of serious investors in 2009.”

“We believe the opportunity for hotel acquisitions will increase substantially over the next 12 to 18 months, and we intend to be a major investor,” added Bruce Wiles, Thayer’s chief operating officer.  “Our focus remains on finding complex projects where we believe we can add substantial value through repositioning, rebranding and possibly changing management."

Prior to joining Thayer Lodging Group, Lee was senior vice president of acquisitions and development at HEI Hotels & Resorts, where he was involved in $1.5 billion of transactions, personally closing on $500 million in acquisitions.  Previously, he served as vice president of acquisitions and development at Kimpton Hotel & Restaurant Group.  Before that, he served as director of development planning and feasibility at Marriott International and vice president at HVS International.

Lee is a graduate of Cornell University’s School of Hotel Administration and has an MBA from the University of California, Irvine.  He is a member of the Urban Land Institute and the Cornell Hotel Society.

 Lee will fill the role formerly held by Bill Reynolds who remains an advisory director and will maintain an advisory role with the company.  “Bill has taken on development responsibilities for his alma mater, Trinity College.  He added value to our portfolio during his tenure and we applaud him for his commitment to Trinity,” Pillsbury noted.

About Thayer Lodging Group
Annapolis, Maryland-based Thayer Lodging Group is a privately held, real estate venture capital operating company with a portfolio of 14 hotels consisting of more than 2,800 guest rooms.  Formed in 1991, the firm has sponsored five hotel investment funds for investors and has a portfolio of hotels operating under the Marriott, Hilton, Wyndham and Six Continents brands.  Additional information about the company may be found at www.thayerlodging.com. 

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Contact:

Thayer Lodging Group
1997 Annapolis Exchange Parkway, Suite 550
Annapolis, MD 21403 
Telephone (410) 268-0515
 www.thayerlodging.com

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Also See: HEI Hospitality Wraps Up $1.5 Billion, Three-Year Hotel Acquisition Program; Adds Four Senior Execs to Support Acquisition and Development Activity / January 2006
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