News for the Hospitality Executive |
ARLINGTON, Va., November 8,
2010—Interstate Hotels &
Resorts, the United States’ largest independent hotel management
company, today
announced that Martin A. Reid has joined the company as executive vice
president, development & acquisitions. In his new position,
he will
focus on sourcing and acquiring hotels in concert with Interstate’s
roster of
equity partners and on identifying
management
contract opportunities, in addition to managing the company’s
relationships
with financial and institutional fund managers, hotel franchise
companies,
hotel owners and real estate brokers. Reid will report to
Leslie
Ng, Interstate’s chief investment officer. He joins Interstate from Cheswold Real
Estate Investment
Management, where he was a founding partner in charge of acquisitions
and
responsible for investment strategy and management of the firm,
including
extensive capital raising activities. Previously, he was managing
director, capital markets for Thayer Lodging Group where he led
investment and
financial activities for five investment vehicles with 37 hotels.
He also
was a general partner member of new funds formed and served as chief
financial
officer and chief investment officer, managing lender relationship
activities,
acquisition, disposition, financings and refinancing of approximately
$3
billion in hotel assets. “The hotel real estate transaction market
is
continuing to rebound, creating acquisition and new management contract
opportunities,” Ng said. “Marty Reid will help position us to
take full
advantage of the opportunities we see ahead as the economy and industry
move
into recovery mode. Marty is a highly regarded industry
professional who brings a proven track
record and exceptional industry
relationships to the company. With his more than 30 years
of
domestic and international hotel real estate investment experience, he will be pivotal to our company’s growth going
forward.” Reid earned an MBA in Financial
Management from Pace
University and a Bachelor of Science degree in Accounting from the
State
University of New York at Albany. A trustee of CB Richard Ellis
Realty
Trust, Reid is a full member of the Urban Land Institute and Hotel
Development
Council, a member of the Pension Real Estate Association and AICPA, and
a past
member of the Niagara University New York City Council. 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. |
Contact:
Jerry Daly, Carol McCune Media Daly Gray (703) 435-6293 [email protected] Carrie McIntyre |