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- Arlington�s Herman, Belmonte Accept Lodging Leadership Award at 26th Annual NYU International Hospitality Industry Conference |
| New York � (June 30, 2004) � Arlington Hospitality,
a hotel development, ownership and management company based in Arlington
Heights, Ill., has been named by HVS Executive Search as having the lodging
industry�s top performing board of directors.
Arlington Hospitality President and C.E.O. Jerry Herman and Board Member Steven Belmonte accepted the Lodging Leadership Award for Board Performance on behalf of Arlington�s board from Keith Kefgen, president of HVS Executive Search, a division of global hotel-consulting firm HVS International, and Stephen Rushmore, founder and president of HVS International. The award was presented during the recent 26th Annual New York University International Hospitality Industry Investment Conference in New York. The Lodging Leadership Award for Board Performance is presented annually to the board of directors that HVS Executive Search deems most effective in leading a public lodging company. Rankings are based on a corporate governance model, designed by Kefgen, that compares public lodging companies� board makeup, committee structures, independence, conflicts of interest and commitment to pay-for-performance. �With new regulations, reaffirmed commitment to accountability, and stricter guidelines in today�s market, it�s more important than ever that public companies implement strong, effective corporate governance policies,� Kefgen said. �The board of Arlington Hospitality has demonstrated outstanding commitment to this process.� �We�re truly honored by this award,� Herman said, �and we�re proud to be recognized for the strong, independent leadership our board provides.� Belmonte, who was elected to Arlington Hospitality�s board in 2002 and is founder, president and c.e.o. of industry consulting firm Hospitality Solutions LLC, said he and other Arlington board members have worked hard to become knowledgeable about new rules and regulations that now govern the financial activities of public companies. �This board has worked very hard at implementing and enforcing many new complex and intricate regulations,� Belmonte said. �The Lodging Leadership Award for Board Performance is not only an outstanding honor for Arlington Hospitality, but is recognition of how important good governance is for all boards of directors. �I have been fortunate to serve on a board who�s independent directors are highly experienced and dedicated and whom I have learned a great deal from,� he said, �such as Chairman Kenneth Fell of KF Inc. in Florida, Vice Chairman Andrew Shapiro of Lawndale Capital Management LLC in California, Dr. Salomon Dayan of J.D. Financial in Illinois, Gerald LaFlamme of JL Development Company, Inc. in California, and Thomas Romano of the Bridgeview Bank Group in Illinois.� About Arlington Hospitality Arlington Hospitality, Inc. (NASDAQ/NM: HOST) is a hotel development, ownership and management company that builds and manages mid-priced, limited-service hotels for investors, partners and third parties. Since 1988 the company has turnkey-developed more than 100 hotels throughout the country, primarily under the AmeriHost Inn brand name. The company founded the AmeriHost Inn brand, with the first AmeriHost Inn opening in 1989 in Athens, Ohio. After eleven years growing the brand to more than 70 locations, the company sold the AmeriHost Inn and AmeriHost Inn & Suites brand names and franchising rights to Cendant Corporation (NYSE: CD) in 2000. Arlington Hospitality currently owns and/or manages 58 lodging properties in 15 states, representing more than 4,200 guestrooms. For more information, visit http://www.arlingtonhospitality.com. About HVS Executive Search Based in Mineola, N.Y., HVS Executive Search offers a wide range of staffing solutions including the world's largest hospitality career website http://www.hospitalitycareernet.com/ and a web-based assessment tool designed for hospitality employees http://www.2020skills.com/. |
| Contact:
Steve Belmonte
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