BETHESDA, Md., July 18, 2017 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NYSE:HST) today announced the appointment of A. William (Bill) Stein to the Company’s Board of Directors. Mr. Stein has also been appointed to serve on the Audit Committee, effective August 15, 2017. With the addition of Mr. Stein, the Company’s Board expands to eleven members, nine of whom are independent.
Mr. Stein currently serves as Chief Executive Officer and a director of Digital Realty Trust, Inc. (NYSE:DLR). Prior to being named Chief Executive Officer in 2014, he held the roles of Interim Chief Executive Officer from March 2014 to November 2014, Chief Financial Officer from July 2004 until April 2015, and Chief Investment Officer from July 2004 until April 2014. Mr. Stein has served on the Executive Board of the National Association of Real Estate Investment Trusts (NAREIT) since November 2015, and is a member of the Fisher Center for Real Estate & Urban Economics Policy Advisory Board. He is also a member of the University of Pittsburgh Chancellor’s Global Advisory Council (CGAC).
“We are thrilled to have Bill Stein join the Board,” said Richard Marriott, chairman of the Host Hotels Board of Directors. “His wealth of knowledge, acquired through his many years of leadership roles in the real estate industry, will prove invaluable as we further sharpen Host’s strategic focus and advance our mission to drive shareholder value.”
“I am very pleased to welcome Bill to our Board,” said James F. Risoleo, president and chief executive officer. “His deep understanding of real estate and the broader technology landscape, based on his more than 32 years of financial, investment and operational experience, will be a great benefit to Host and its shareholders.”
"It is a privilege to join the Board of Directors of Host Hotels & Resorts," said Mr. Stein. "As a long-time member of the REIT community, I have deep respect for Host’s leadership position in the lodging industry and the broader REIT sector. Host has a strong foundation led by an excellent management team and Board, and I am excited to help Host continue to capitalize on its position as the premier lodging REIT and deliver superior returns for shareholders."
About Mr. Stein
Mr. Stein has more than 32 years of investment, financial and operating management experience in both large company environments and small, rapidly growing companies. Prior to joining Digital Realty, Mr. Stein provided turnaround management advice to both public and private companies. From 2000 to 2001, Mr. Stein served as Co-Head of VentureBank@PNC and Media and Communications Finance at The PNC Financial Services Group where he was responsible for directing the delivery of PNC’s products and services to VentureBank’s high technology and emerging growth client base.
Before joining PNC, Mr. Stein was President and Chief Operating Officer of TriNet Corporate Realty Trust, a real estate investment trust, which was acquired by Starwood Financial Trust (now called iStar Financial) in 1999. Prior to being named President of TriNet, Mr. Stein was its Executive Vice President, Chief Financial Officer and Secretary.
Before joining TriNet in 1995, Mr. Stein held a number of senior investment and financial management positions with Westinghouse Electric, Westinghouse Financial Services and Duquesne Light Company. Mr. Stein practiced law for eight years, specializing in financial transactions and litigation. Mr. Stein has previously served as a member of the board of directors of Wesdome Gold Mines LTD, a public company traded on the Toronto Stock Exchange.
Mr. Stein received an A.B. from Princeton University, a J.D. from the University of Pittsburgh and a M.S. with Distinction from the Graduate School of Industrial Administration at Carnegie Mellon University.
About Host Hotels & Resorts
Host Hotels & Resorts, Inc. is an S&P 500 and Fortune 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 89 properties in the United States and 7 properties internationally totaling approximately 53,500 rooms. The Company also holds non-controlling interests in seven joint ventures, including one in Europe that owns 10 hotels with approximately 3,900 rooms. 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®, Le Meridien®, The Luxury Collection®, Hyatt®, Fairmont®, Hilton®, Swissôtel®, ibis®, Pullman®, and Novotel® as well as independent brands in the operation of properties in over 50 major markets worldwide. For additional information, please visit the Company's website at www.hosthotels.com.
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Bret D.S. McLeod
Senior Vice President
Host Hotels & Resorts, Inc.