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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 December Online Hotel Business Review




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Feature Focus
Hotel Law: Issues & Events
There is not a single area of a hotel’s operation that isn’t touched by some aspect of the law. Hotels and management companies employ an army of lawyers to advise and, if necessary, litigate issues which arise in the course of conducting their business. These lawyers typically specialize in specific areas of the law – real estate, construction, development, leasing, liability, franchising, food & beverage, human resources, environmental, insurance, taxes and more. In addition, issues and events can occur within the industry that have a major impact on the whole, and can spur further legal activity. One event which is certain to cause repercussions is Marriott International’s acquisition of Starwood Hotels and Resorts Worldwide. This newly combined company is now the largest hotel company in the world, encompassing 30 hotel brands, 5,500 hotels under management, and 1.1 million hotel rooms worldwide. In the hospitality industry, scale is particularly important – the most profitable companies are those with the most rooms in the most locations. As a result, this mega- transaction is likely to provoke an increase in Mergers & Acquisitions industry-wide. Many experts believe other larger hotel companies will now join forces with smaller operators to avoid being outpaced in the market. Companies that had not previously considered consolidation are now more likely to do so. Another legal issue facing the industry is the regulation of alternative lodging companies such as Airbnb and other firms that offer private, short-term rentals. Cities like San Francisco, Los Angeles and Santa Monica are at the forefront of efforts to legalize and control short-term rentals. However, those cities are finding it’s much easier to adopt regulations on short-term rentals than it is to actually enforce them. The December issue of Hotel Business Review will examine these and other critical issues pertaining to hotel law and how some companies are adapting to them.