Interstate Promotes Ted Knighton to President, Hotel Ops
ARLINGTON, VA, June 14, 2006. Interstate Hotels & Resorts (NYSE: IHR), the nation's largest independent hotel management company, today announced that it has promoted Samuel E. (Ted) Knighton to president, hotel operations. He will be responsible for overseeing the day-to-day operations of the company's hotels in the U.S. and Canada.
A 16-year veteran with Interstate, Knighton previously was executive vice president of operations-full service division, where he had operational responsibility for approximately 70 full-service hotels with annual revenues in excess of $1 billion. Prior to that, he was executive vice president operations of Interstate's Crossroads division, which encompassed approximately 110 hotels in the select-service, extended-stay and mid-market segments. His career includes operations positions with Radisson Hotels International and with Hyatt Hotels Corporation. Knighton holds a bachelor's degree in hotel administration from Cornell University.
"Ted's experience in all facets of our portfolio, from luxury hotels to select-service properties, made him a very logical choice for this key position," said Thomas F. Hewitt, Interstate CEO. "His 30-plus years as an hotelier include all aspects of operations at both top-level brands and operators."
As of May 31, Interstate Hotels & Resorts operated 264 hospitality properties with nearly 60,000 rooms in 41 states, the District of Columbia, Canada, and Russia. BridgeStreet Worldwide, an Interstate Hotels & Resorts' subsidiary, is one of the world's largest corporate housing providers. BridgeStreet and its network of Global Partners offer more than 9,800 corporate apartments located in more than 95 MSAs throughout the United States and internationally.
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, although not all forward-looking statements will contain such words.
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