Host Hotels & Resorts, Inc. Announces CFO Transition
December 12 2019 - 8:00AM
Host Hotels & Resorts, Inc. (NYSE: HST) (“Host” or the
“Company”), the nation’s largest lodging real estate investment
trust, today announced that Michael D. Bluhm, the Company’s
Executive Vice President and Chief Financial Officer, will step
down at the end of 2019 to resume his career in investment banking
as Managing Director and Global Head of Lodging for Morgan Stanley,
based in Los Angeles. The Company has initiated a comprehensive
search process with the assistance of a leading executive search
firm to identify Mr. Bluhm’s successor.
To ensure a smooth transition, Mr. Bluhm will
serve as a senior advisor to the Company through February 15, 2020.
Brian G. Macnamara, Host’s Senior Vice President and Corporate
Controller, will serve as principal financial officer, effective
January 1, 2020, until such time as the Company appoints a new
Executive Vice President and Chief Financial Officer.
James F. Risoleo, President and Chief Executive
Officer, said, “On behalf of the Board and management team, I thank
Michael for his many contributions to our Company. He has expanded
our strategic capabilities while maintaining our disciplined
approach to capital allocation and fortifying our investment-grade
balance sheet. We are pleased Michael has agreed to serve as a
senior advisor to Host over the coming months, and we expect to
continue to benefit from his expertise as one of our external
advisors.”
Mr. Risoleo continued, “We are fortunate to have
a deep bench of talent, and we appreciate Brian’s willingness to
serve as principal financial officer while we undertake the search
process. Having spent nearly 25 years at Host, Brian is deeply
familiar with our business, strategy and financial processes. We
are confident this will be a seamless transition for our
shareholders, partners, employees and other stakeholders.”
Mr. Bluhm said, “It has been an honor to serve
as Host’s CFO and work with such an outstanding management team and
group of committed employees. I’m very proud of what we have
accomplished over the past couple of years and look forward to
continuing to support Jim and the team as they further build on the
Company’s industry-leading position and create additional value for
shareholders.”
About Host Hotels &
Resorts
Host Hotels & Resorts, Inc. is an S&P
500 company and is the largest lodging real estate investment trust
and one of the largest owners of luxury and upper-upscale hotels.
The Company currently owns 75 properties in the United States and
five properties internationally totaling approximately 46,600
rooms. The Company also holds non-controlling interests in six
domestic and one international joint ventures. Guided by a
disciplined approach to capital allocation and aggressive asset
management, the Company partners with premium brands such as
Marriott®, Ritz-Carlton®, Westin®, Sheraton®, W®, St. Regis®, The
Luxury Collection®, Hyatt®, Fairmont®, Hilton®, Swissôtel®, ibis®
and Novotel®, as well as independent brands. For additional
information, please visit the Company’s website at
www.hosthotels.com.
* This press release contains registered
trademarks that are the exclusive property of their respective
owners. None of the owners of these trademarks has any
responsibility or liability for any information contained in this
press release.
Tejal EngmanVice President240.744.5116
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