Hotel Online  Special Report

Innkeepers USA Trust Names Bruce
Riggins Chief Financial Officer
PALM BEACH, Fla., June 30, 2005 — Innkeepers USA Trust (NYSE: KPA), a hotel real estate investment trust (REIT) and a leading owner of upscale extended-stay hotel properties throughout the United States, today announced that Bruce Riggins will join the company as chief financial officer on July 20.

“Bruce brings public and corporate accounting, audit and finance experience and insight,” said Jeffrey H. Fisher, chief executive officer and president.  “He also has a strong treasury background and has been involved in more than $1 billion in debt and equity transactions in the hotel industry.  He has extensive experience in acquisitions and will round-out our senior management team.”

He currently is senior vice president and treasurer of Interstate Hotel & Resorts (NYSE:  IHR), the nation’s largest independent hotel management company.  He oversees the company’s treasury, risk management, investor relations and planning and analysis functions.   

Prior to joining Interstate, Riggins was vice president of strategic planning and analysis for MeriStar Hospitality Corporation (NYSE: MHX), one of the nation’s largest hotel real estate investment trusts. Riggins began his career with Deloitte & Touche, LLP, where he was an audit senior accountant for clients in the real estate, government contracting, manufacturing and not-for-profit sectors.  He holds a bachelor’s degree in accounting from Virginia Tech.

Innkeepers USA Trust is a hotel real estate investment trust (REIT) and a leading owner of upscale extended-stay hotel properties throughout the United States.  The company owns 69 hotels with a total of 8,745 suites or rooms in 20 states and Washington, D.C., and focuses on acquiring and/or developing upscale and upscale extended-stay hotels with premium brands and the rebranding and repositioning of other hotel properties.  

Cautionary statements set forth in reports filed by the company from time to time with the SEC discuss important factors impacting, or that could impact, the company and its results or forecasted results.  


Innkeepers USA Trust

Also See: Innkeepers USA Trust Reports 1st Qtr Net income of $2.1 million / Hotel Operating Statistics / May 2005
Innkeepers USA Trust Acquires former Holiday Inn in Montvale, N.J.; Property Will Undergo $5 Million Renovation and Convert to Courtyard / February 2005

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