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InterMountain Management LLC Acquires Pillar Hotels and Resorts

Combined Company will Manage 308 Hotels, More than 30,000 Rooms


DALLAS-September 22, 2011--In a joint statement issued today, InterMountain Management LLC (InterMountain) and Pillar Hotels and Resorts (Pillar) announced that they have entered into an agreement to merge the two organizations into common ownership.

The combined company will be one of the largest, independent, third party management firms worldwide, and will encompass 308 hotels with more than 30,000 rooms under management. InterMountain also has 16 hotel development projects underway in various stages. Combined, InterMountain and Pillar will employ more than 9,000 associates across the U.S.

Dewey Weaver Jr., owner and founder of InterMountain, stated, “The partnership between these two world-class companies will only make them both stronger and more formidable as we look to continue our aggressive growth in the hotel management and development space.”

Chris Russell, chief executive officer of Pillar, added, “While we plan to continue operating Pillar as a separate company out of Irving, TX, we look forward to creating synergies by building on the strengths of both organizations.”

About InterMountain Management LLC
Founded in 1982 by Dewey Weaver Jr., InterMountain Management develops, owns and operates premium brand hotel properties located in 23 states nationwide. Based in Monroe, LA, InterMountain currently owns and/or manages 73 hotels, including more than 7,400 rooms across the country. www.intermtn.biz

About Pillar Hotels and Resorts
Established in 2004, Pillar Hotels and Resorts offers on-site management services for an expansive portfolio of well-respected brands recognized worldwide. Formerly owned by Archon Group, Pillar directly manages 233 hotels with nearly 23,900 rooms across 37 states.Based in Irving, Texas, the company employs more than 7,000 associates. www.pillarhotels.com

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Contact:

Archon Group
Corporate and Investor
Todd Giannoble, 972-368-2758
todd.giannoble@archon.com
or
Media
Cris Zertuche Wong, 972-368-2845
cris.zertuchewong@archon.com



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Also See: Marriott International and InterMountain Management to Open the 91-room Fairfield Inn & Suites by Marriott in Carlsbad, New Mexico Owned by Forrest Properties, Inc. / March 2011

EM Properties Ltd and Intermountain Management Open the 89 room Fairfield Inn & Suites in East Peoria, Illinois / April 2009

The First of Two Element Hotel Projects Developed by Condor Hospitality, LLC and InterMountain Management Opens in Houston, the 123 room Element Houston Vintage Park / March 2009
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