Whetsell Stepping Down as Interstate Chairman and Board Member
Thomas F. Hewitt Named Chairman of the Board
ARLINGTON, VA, March 24, 2009 - Interstate Hotels & Resorts (OTC: IHRI), a leading hotel real estate investor and the nation's largest independent management company, today announced that Thomas F. Hewitt, chief executive officer, has been named chairman of the board. He will succeed Paul W. Whetsell, who will step down as chairman and as a member of the board of directors, effective March 31.
"This transition is part of our regular succession planning that we've been working on for some time," Whetsell said. "Tom has a long and distinguished career with Interstate and is the natural choice to continue to lead the company as chairman and chief executive officer. As CEO, he has compiled an impressive record over the past four years as we have grown and diversified the company."
"As a founder of CapStar Hotel Company, one of our predecessor companies, Paul's vision and entrepreneurial spirit were instrumental in the formation and growth of our company," Hewitt noted. "He remains a strong supporter and significant shareholder of Interstate."
This press release contains "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, about Interstate Hotels & Resorts, including those statements regarding future operating results and the timing and composition of revenues, among others, and statements containing words such as "expects," "believes" or "will," which indicate that those statements are forward-looking.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
