NORWALK, Conn., June 21, 2012 -- HEI Hotels & Resorts announced today that Anthony Rutledge, Chief Financial Officer and General Counsel has been promoted to the position of Chief Executive Officer. Company co-founder Gary Mendell will remain as Chairman of the 43-hotel owner/operator. The company operates hotels and resorts as part of investment portfolios of almost $3 billion.

Rutledge joined HEI shortly after its formation in 2002, and since then has contributed to overseeing all aspects of the company's growth and acquisitions, as well as the sourcing of all debt and equity financing for its various funds. Over the past decade, the company has assembled a portfolio of 43 properties under major brands like Starwood, Marriott, Hilton and Intercontinental. In addition to acquisitions, the company invested in the construction of three new hotels that created almost 800 local jobs, and purchased several troubled hotels that preserved jobs and created economic enrichment to local communities.

"Anthony's expertise and leadership has been, and will continue to be, a major factor in our success which has greatly benefitted our employees , our guests, local economies and our investment community," said HEI Chairman Gary Mendell. "Anthony's leadership skills, relationships, understanding and appreciation of risk, and commitment to our platform will continue to drive value on behalf of HEI. He has great insight into our industry and will be a tremendous chief executive to continue our vision and path."

Rutledge has extensive experience in all aspects of real estate and corporate transactions, including experience in sourcing, structuring and managing more than $10 billion in real estate investments. His experience also includes hospitality finance, hotel operations, human resources and asset management. Rutledge earned his undergraduate degree from Fordham University and his law degree from New York Law School. Continuing as Chairman, Mendell will remain actively engaged in overseeing all company activities, including strategy, acquisitions, sales and operations.

"Although I am humbled and excited about my new role, HEI's tremendous success is a direct result of the commitments from our employees, investors, brands, financial partners and guests. Over the last 25 years we have built the best owner operator platform in our industry, with strong investment returns and employee and guest satisfaction scores," Rutledge said. "We are perfectly positioned to grow our platform and build upon our success in the years to come."

About HEI Hotels & Resorts
HEI Hotels & Resorts, headquartered in Norwalk, Connecticut with 43 properties in 16 states, creates socially responsible investment and employment opportunities through real estate portfolios of hotels and resorts throughout the United States under such well-known brand names as Marriott, Sheraton, Westin, Le Meridien, Embassy Suites, and Hilton. HEI takes a holistic approach to creating value for its investors and employees by setting the highest standards across all aspects of hotel management and operation and focusing on the central principles of excellence and continuous improvement. HEI prides itself on some of the highest employee satisfaction scores in the hospitality industry, fuels local economic prosperity by investing in communities and is committed to environmental stewardship and sustainability. For more information about HEI, visit the company's website, www.heihotels.com.