Appointments & Promotions

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.

Contact:
Taylor Newsome/ Kerri Crannis
kcrannis@zimmerman.com
850.668.2222

Coming Up In The October Online Hotel Business Review




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Feature Focus
Revenue Management: Technology and Big Data
Like most businesses, hotels are relying on technology and data to drive almost every area of their operations, but perhaps this is especially true for hotel Revenue Managers. There has been an explosion of technology tools which generate a mountain of data – all in an effort to generate profitable pricing strategies. It falls to Revenue Managers to determine which tools best support their operations and then to integrate them efficiently into their existing systems. Customer Relationship Management, Enterprise Resource Planning, and Online Reputation Management software are basic tools; others include channel managers, benchmark reports, rate shopping tools and review systems, to name a few. The benefits of technology tools which automate large segments of a Revenue Manager’s business are enormous. Freed from the time-consuming process of manual data entry, and having more accurate data available, allows Revenue Managers to focus on analysis, strategies and longer-term decision-making. Still, for most hotels, the amount of data that these tools generate can be overwhelming and so another challenge is to figure out how to effectively utilize it. Not surprisingly, there are some new tech tools that can help to do exactly that. There are cloud-based analytics tools that provide a comprehensive overview of hotel data on powerful, intuitive dashboards. The goal is to generate a clear picture, at any moment in time, of where your hotel is at in terms of the essentials – from benchmarking to pricing to performance – bringing all the disparate streams of data into one collated dashboard. Another goal is to eliminate any data discrepancies between finance systems, PMS, CRM and forecasting systems. The October issue of the Hotel Business Review will address all these important developments and document how some leading hotels are executing their revenue management strategies.