News for the Hospitality Executive
ARLINGTON, Va., November 15, 2010—Interstate Hotels & Resorts, the United States’ largest independent hotel management company, today announced the appointment of Edward J. Blum to the position of executive vice president, development & acquisitions. In his new position, he will be responsible for identifying management contract opportunities and hotel acquisition candidates, as well as overseeing the company’s relationships with hotel owners and hotel franchise companies. Blum will report to Leslie Ng, Interstate’s chief investment officer.
He joins Interstate from Molinaro Koger, an international hotel real estate advisory firm, where he served as global head of capital markets. Under his leadership, the group originated more than $1 billion in debt and equity financing for hospitality transactions throughout the U.S, Europe, and Asia.
Previously, he was senior vice president of finance for Europe at Wyndham International, where he restructured Wyndham’s European investments and directed hotel acquisition and development activities in the UK, France, Italy and Spain. Blum also served as chief financial officer for Grand Heritage Hotel Group, an international owner/operator of historic boutique properties; vice president of capital markets, mergers and acquisitions at Patriot American Hospitality; and chief financial officer of the Imperial Hotel Corporation and The Cafritz Company.
“International expansion is an important part of our corporate growth plans, and Ed Blum’s 25 years of experience in international hospitality and real estate and exceptional industry relationships will be invaluable as we move forward in this area,” said Leslie Ng. “A highly regarded industry veteran, he has compiled a successful track record in real estate acquisitions and development, business development, lender and investor relations and capital markets. As we continue to expand our international outreach, Ed will play a key role in this area, building on the operating platforms we have put in place over the past two years.”
Blum earned a Bachelor of Science degree in Business Administration and a Masters of International Management, both from the University of Maryland University College. He is a Certified Public Accountant.
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.
|Also See:||Jin Jiang Hotels and Interstate Hotels Sign Joint Venture Agreement to Create Interstate China Hotels & Resorts Based in Shanghai / April 2010|
|Interstate Hotels & Resorts Signs Merger Agreement for Aquisition by Hotel Acquisition Company, LLC Through a Joint Venture Between Thayer Lodging Group and Jin Jiang Hotels for $307 million / December 2009|
|Jin Jiang International Hotels, the Leading Hotel Operator in China, In a Joint Venture with Thayer Lodging Group to Acquire Interstate Hotels & Resorts / December 2009|
|Starwood Capital Makes $30 million Investment in Jin Jiang, One of China's Largest Hotel Operators / December 2006|