Michael J. Deitemeyer Named Chief Executive Officer of Interstate Hotels & Resorts
ARLINGTON, VA. March 16, 2017 - Interstate Hotels & Resorts ("Interstate" or the "Company"), a portfolio company of Kohlberg & Company, L.L.C. ("Kohlberg"), announced today the appointment of Michael ("Mike") J. Deitemeyer as Chief Executive Officer, effective March 23, 2017. He has also been appointed to serve on the Board of Directors of Interstate effective the same date.
Deitemeyer joins Interstate after a highly successful tenure with Omni Hotels & Resorts ("Omni"). He served as President of Omni for 13 years, and prior to that helped grow the organization through multiple management roles in operations, development, sales and finance. Under his leadership, Deitemeyer established Omni as a leading hotel brand and operator, with a reputation for delivering superior quality, award-winning service and exceptional guest experiences. He currently serves on the executive committee and board of the American Hotel & Lodging Association ("AH&LA") and is a founding board member and Director for the Global Hotel Alliance. Deitemeyer began his career in the hospitality industry with Interstate.
"I am incredibly excited and motivated to join the Interstate team," Deitemeyer said. "We are committed to implementing a focused, customer-first culture that will deliver best-in-class profitability for our current and prospective hotel owners, while also being the employer of choice for the brightest talent in the industry. We plan to firmly establish the Company as the undisputed market leader for third-party hotel management services, and I look forward to working alongside our associates and Kohlberg to achieve this goal."
Deitemeyer assumes the CEO role from Jim Abrahamson. "Mike brings an impressive track record of success and leadership throughout his extensive career within the hospitality industry, which positions him well for his new role at Interstate. He is the right person to lead the next stage of growth at the Company, while delivering unwavering levels of service for our hotel guests, associates and owners," commented Abrahamson. "It has been my great privilege to work with such a dedicated and skilled group of people during my time here, and I wish Mike and the associates of Interstate much continued success in the years to come." Abrahamson will remain on the board of Interstate as non-executive Chairman.
Ahmed I. Wahla, Partner of Kohlberg, commented, "On behalf of the Board of Directors of Interstate, I wish to sincerely thank Jim Abrahamson for his distinguished service to the Company. Jim was instrumental in expanding Interstate's footprint in both the U.S. and Europe, and as a result, establishing the Company as a leading platform in the hotel management sector. Looking forward, we are thrilled to be partnering with Mike Deitemeyer in this new chapter at Interstate. Mike brings an energetic, entrepreneurial brand of leadership to the Company, and shares our vision of offering a unique value proposition to our hotel owners, and thus propelling Interstate to become the number one operator of hotels in the industry. We have complete confidence in his ability to drive success for all stakeholders."
About Interstate Hotels & Resorts
Interstate Hotels & Resorts is the leading U.S.-based global hotel management company, operating branded full-and select-service hotels and resorts, convention centers and independent hotels worldwide. Currently, Interstate and its affiliates manage approximately 420 hotels with over 75,000 rooms around the globe. For more information, please visit www.interstatehotels.com.
About Kohlberg & Company, L.L.C.
Kohlberg & Company, L.L.C. ("Kohlberg") is a leading private equity firm headquartered in New York. Since its inception in 1987, Kohlberg has organized eight private equity funds, through which it has raised $7.5 billion of committed equity capital. Over its 30-year history, Kohlberg has completed 70 platform investments and over 150 add-on acquisitions, with an aggregate transaction value in excess of $10 billion. For more information, please visit www.kohlberg.com.
Taylor Newsome/ Kerri Crannis