Hotel Online  Special Report

 Interstate Hotels & Resorts Names
J. William Richardson Chief Financial Officer


ARLINGTON, Va., February 23, 2004 — Interstate Hotels & Resorts (NYSE: IHR), the nation’s largest independent hotel management company, today announced that J. William (Bill) Richardson has joined the company as chief financial officer.  

Previously, he was vice chairman and CFO of Interstate Hotels Corp., where he oversaw the completion of that company’s 2002 merger with MeriStar Hotels & Resorts to form Interstate Hotels & Resorts.

“Bill brings 30 years of hotel industry finance and operations experience to this key position,” said Steve Jorns, Interstate’s chief executive officer.  “With his previous experience as CFO at our predecessor company, he already has in-depth knowledge of our organization.  As a result, he joins our team without missing a beat, an advantage no one else could have brought to the table.  As the hotel industry begins to emerge from one of its most difficult periods, we expect Bill to play a key role in helping the company take full advantage of the impending recovery.” 

Richardson joined Interstate Hotels Corporation in 1981, where he rose from treasurer to executive vice president and chief financial officer and ultimately to vice chairman and CFO.  Previously, during a nine-year stint with Marriott he gained hotel operations experience as a regional controller.  He is a former vice president and partner of Stormont Company, an Atlanta, Ga.-based hotel management and development company.

Richardson graduated from the University of Kentucky with a degree in business/finance.  He serves on a number of corporate and non-profit boards, including LendSource, Inc., Ameristar Casinos, and the Leukemia & Lymphoma Society.

Interstate Hotels & Resorts operates approximately 300 hospitality properties with more than 63,000 rooms in 40 states, the District of Columbia, Canada, Russia and Portugal.  

This press release contains "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995.


Interstate Hotels & Resorts
 Melissa Thompson
Vice President, Corporate Communications
(703) 387-3377
Also See: Terry Alder Named Vice President of Operations and Hunter Webster Named Vice President of Revenue Management for Interstate Hotels & Resorts / January 2004
Alex Lombardo and George Brennan Promoted to New Corporate Positions with Interstate Hotels & Resorts / January 2004

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