ARLINGTON, Va., May 8, 2013 /PRNewswire/ -- Interstate Hotels & Resorts announces today the appointment of David Altobello as the Company's senior vice president of development and acquisitions, effective April 29th. Altobello is responsible for identifying management contract opportunities and managing the Company's relationships with real estate brokers, financial and institutional fund managers, hotel franchise companies and hotel owners in the full-service division, reporting to Edward J. Blum, Interstate's executive vice president of development and acquisitions.
"David's broad experience in the evaluation of complex real estate transactions will be important in this role," noted Interstate Chief Investment Officer, Leslie Ng. "His background complements our already strong development and acquisitions team, and his success in hospitality real estate and finance will assist the Company's strategic growth plans as we look to expand."
Altobello's experience spans both hospitality real estate and finance, including key positions at Rockwood Real Estate Advisors, Molinaro Koger, Marriott International and Reznick Group, P.C., with specific expertise in evaluating, marketing and closing hotel asset sale transactions.
"David will have the opportunity to begin fostering and evaluating new projects in the full service and resorts lodging segment, whether single hotels or multi-asset portfolios," said Blum. "His 25 years of quality experience and impressive track record are huge assets as David builds on the existing operating platforms."
Altobello holds a Master's in Business Administration from George Mason University and a Bachelor of Science in Business Administration from Georgetown University.
About Interstate Hotels & Resorts
Interstate Hotels & Resorts, Inc., a wholly-owned subsidiary of a 50/50 joint venture between subsidiaries of Thayer Lodging Group and Jin Jiang Hotels, 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. Interstate and its affiliates manage 344 hotels with more than 65,000 rooms in North America, Europe and Asia-Pacific, including six wholly owned hotels. In addition, Interstate has executed agreements to manage 40 hotels with 7,700 rooms under construction or development throughout the world. For more information, please visit www.interstatehotels.com. Connect with Interstate at www.linkedin.com/company/interstate-hotels-resorts, www.facebook.com/InterstateHotels, and http://jobs.interstatehotels.com.
SOURCE Interstate Hotels & Resorts