Pillar Hotels Names Chief Investment Officer
Rick Frank Joins the Hotel Management Company's Senior Leadership Team
Irving, TX - February 11, 2013 - Pillar Hotel & Resorts, one of the largest independent, third party management companies of full and select service hotels in the U.S., named industry veteran, Rick Frank , to one of its top posts as Chief Investment Officer. He will lead the growth of the company's business strategy, including third-party management and ancillary services, acquisitions and new investment opportunities.
Chris Russell, CEO of Pillar Hotels said, “We're thrilled to have someone of Rick's talent and experience take the lead on our forward growth strategy. He brings a unique blend of hotel operations and real estate investment management that will round out our senior leadership team.”
Prior to joining Pillar, Rick was Senior Vice President at Behringer Harvard, overseeing acquisitions and asset management of their hotel platform for that real estate investment company. Rick's additional past experience includes Senior Vice President within AEW's hospitality group, asset management for Olympus Real Estate Partners and hotel operations for ITT Sheraton (later becoming Starwood). After graduating from Cornell and gaining his MBA from Fordham University, Rick began his career at Arthur Andersen, specializing in the real estate and hospitality industries.
“I'm excited to be taking this role with such a young, vibrant company,” Rick said. “Pillar has considerable depth of operations experience, and a track record of above industry average results. Their recent merger with InterMountain Management provides us with many avenues to pursue acquisition of third party management contracts as well as equity investment opportunities with this diverse team.”
About Pillar Hotels & Resorts
Based in Dallas, Texas, Pillar currently manages a portfolio of 210 hotels with over 20,000 rooms located in 35 states. It operates hotels under Marriott, Hilton, Starwood, Hyatt, InterContinental Hotels Group, Choice, Carlson, and independent franchises. The management team has full service origins and expertise including hotel operations, sales and marketing, revenue management, food and beverage, and capital management. Over the past seven years the company has grown from 22 hotels, absorbing six portfolios ranging from 20 to over 160 hotels. Pillar's size, geographical presence, and management experience uniquely positions them to handle transactions of all sizes. For more information, go to www.pillarhotels.com.
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