News for the Hospitality Executive
ARLINGTON, Va., November 8, 2010—Interstate Hotels & Resorts, the United States’ largest independent hotel management company, today announced that Martin A. Reid has joined the company as executive vice president, development & acquisitions. In his new position, he will focus on sourcing and acquiring hotels in concert with Interstate’s roster of equity partners and on identifying management contract opportunities, in addition to managing the company’s relationships with financial and institutional fund managers, hotel franchise companies, hotel owners and real estate brokers. Reid will report to Leslie Ng, Interstate’s chief investment officer.
He joins Interstate from Cheswold Real Estate Investment Management, where he was a founding partner in charge of acquisitions and responsible for investment strategy and management of the firm, including extensive capital raising activities. Previously, he was managing director, capital markets for Thayer Lodging Group where he led investment and financial activities for five investment vehicles with 37 hotels. He also was a general partner member of new funds formed and served as chief financial officer and chief investment officer, managing lender relationship activities, acquisition, disposition, financings and refinancing of approximately $3 billion in hotel assets.
“The hotel real estate transaction market is continuing to rebound, creating acquisition and new management contract opportunities,” Ng said. “Marty Reid will help position us to take full advantage of the opportunities we see ahead as the economy and industry move into recovery mode. Marty is a highly regarded industry professional who brings a proven track record and exceptional industry relationships to the company. With his more than 30 years of domestic and international hotel real estate investment experience, he will be pivotal to our company’s growth going forward.”
Reid earned an MBA in Financial Management from Pace University and a Bachelor of Science degree in Accounting from the State University of New York at Albany. A trustee of CB Richard Ellis Realty Trust, Reid is a full member of the Urban Land Institute and Hotel Development Council, a member of the Pension Real Estate Association and AICPA, and a past member of the Niagara University New York City Council.About Interstate Hotels & Resorts
Interstate Hotels & Resorts, Inc, a wholly owned subsidiary of a joint venture between subsidiaries of Thayer Lodging and Jin Jiang, is the nation’s largest independent hotel management company based on revenue managed. The company and its affiliates manage and/or have ownership interests in 227 properties with more than 45,000 rooms in 36 states, the District of Columbia, Russia, India, Mexico, Belgium, Canada, Ireland and England. The company has ownership interests in 54 of those properties, including six wholly owned assets. For more information about Interstate Hotels & Resorts, visit the company’s Web site: www.ihrco.com.
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