LaSalle Hotel Properties Names Michael D. Barnello Chief Executive Officer
LaSalle Hotel Properties (NYSE: LHO) today announced that Michael D.
Barnello was named Chief Executive Officer and Lead Director Stuart L.
Scott was named acting Chairman of the Board effective immediately.
These actions were taken after Mr. Jon E. Bortz informed the Board of
his decision to retire from the Company effective as of September 13,
2009, accelerating the previously announced succession plan.
Additionally, Mr. Bortz resigned his position as Trustee and Chairman of
the Board. Mr. Bortz’ decision to step down early was made to allow him
to pursue other career opportunities.
“The Board is greatly appreciative of the outstanding leadership that
Jon has provided over the past 11 years, during which time the Company
experienced industry leading returns and grew from 10 hotels to 31
hotels,” said Mr. Scott. “We are very excited to have Michael stepping
into the CEO role. He has been with the Company since it went public in
1998 and has had a key role in both the development and execution of its
strategies. The continuity of his leadership and commitment to
excellence positions LaSalle Hotel Properties to continue to be a leader
in the hotel industry.”
LaSalle Hotel Properties is a leading multi-operator real estate
investment trust owning 31 upscale full-service hotels, totaling
approximately 8,500 guest rooms in 14 markets in 11 states and the
District of Columbia. The Company focuses on owning, redeveloping and
repositioning upscale full-service hotels located in urban, resort and
convention markets. LaSalle Hotel Properties seeks to grow through
strategic relationships with premier lodging companies, including Westin
Hotels and Resorts, Sheraton Hotels & Resorts Worldwide, Inc., Hilton
Hotels Corporation, Outrigger Lodging Services, Noble House Hotels &
Resorts, Hyatt Hotels Corporation, Benchmark Hospitality, White Lodging
Services Corporation, Gemstone Hotels & Resorts, LLC, Thompson Hotels,
Sandcastle Resorts & Hotels, Davidson Hotel Company, Denihan Hospitality
Group, Dolce Hotels and Resorts and the Kimpton Hotel & Restaurant
Group, LLC.
For additional information or to receive press releases via e-mail,
please visit our website at www.lasallehotels.com
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