Coastal Purchased by Senior Management
AUGUST 10, 2006. Coastal Hotel Group, a full-service hotel management and development services company, has been purchased by its senior management team. The announcement was made by Yogi Hutsen, Coastal's President & Chief Executive Officer.
Says Hutsen, "This is an exciting new chapter for Coastal Hotels. Presently we're working on five new development deals -- one each in California, Arizona, and Idaho, and two in Oregon. Coastal is also proud to be a preferred management company with Starwood Hotels & Resorts. Given the vision of our investor group and new access to capital, we are now positioned to take full advantage of Coastal's excellent reputation among hotel owners and developers, as well as our guests."
Hutsen, a thirty-year hospitality veteran, joined Coastal Hotels in 2004. Previously, Hutsen was COO for Noble House following five years as Regional Vice President for Starwood in Seattle. Other senior leaders are Ed Schwitzky, Senior Vice President Sales & Marketing, and Peter LaFemina, Chief Financial Officer. Schwitzky spent over twenty years with Westin Hotels & Resorts in sales and marketing leadership positions. LaFemina has more than twenty-five years of financial management experience in hospitality and gaming, including fifteen years with ITT Sheraton. Additional investors in Coastal include Frank Finneran, a long-time executive with Westin and experienced hotel developer, and Stuart Rolfe, a prominent Seattle attorney and President of Wright Hotels, Inc.
The company was acquired from former owners Don Simplot and Doug Toms for an undisclosed amount. Coastal Hotel Group currently manages seven hotels in four states.
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