From the Wires
HEI Hotels CIO Clark Hanrattie Promoted To Principal & Chief Financial Officer
Hanrattie's Investment Experience Valuable in Further Strengthening Company for Continued Growth and Performance
By: PR Newswire
Jan. 18, 2013 06:01 AM
NORWALK, Conn., Jan. 18, 2013 /PRNewswire/ -- HEI Hotels & Resorts announced today that veteran Chief Investment Officer Clark Hanrattie has been promoted to Principal & Chief Financial Officer, further strengthening the Company's commitment to its investors, guests, employees and communities. The company operates 43 hotels and resorts as part of its approximately $3 billion investment portfolio.
Hanrattie joined HEI shortly after its formation in 2002, and since then has been responsible for refining the firm's investment strategies, managing the acquisition and development process, monitoring economic and industry conditions, and supporting the areas of capital markets and investor relations. In addition to his current responsibilities, Hanrattie will lead teams supporting transaction sourcing, financial and investor reporting, equity and debt financing, risk management and asset management.
"As our Chief Investment Officer, Clark has been instrumental in providing the strong leadership necessary to build and strengthen our portfolio in so many key areas," said HEI CEO Anthony Rutledge. "Going forward as our new Chief Financial Officer, we will leverage Clark's expertise in new ways which will continue to provide significant benefits to our platform. HEI is clearly positioned for tremendous continued success, and Clark's promotion will further enable us to achieve our goals and maintain our industry leading positioning."
Hanrattie has spent the past 20 years focused on the hospitality industry, including all aspects of acquisitions, dispositions, development, equity and debt financing, renovations, and asset management. Prior to joining HEI a decade ago, Hanrattie was a partner at Olympus Real Estate Partners, the real estate-affiliate of LBO-firm Hicks Muse Tate & Furst. During his ten year association with Olympus, Hanrattie rose from associate to partner/investment committee member, and was responsible for the firm's hotel investment activities from 1999 to 2003. Over the past 20 years, Hanrattie has led or been a key participant in the acquisition of more than 100 hotels and resorts totaling in excess of $4 billion in transaction value. Hanrattie graduated from Texas A&M University with a B.S. degree in Economics with a concentration in Real Estate Finance.
"I am excited by the opportunity to assume even greater responsibilities at HEI," Hanrattie said. "We have built a truly outstanding owner/operator platform over the past 10 years which has and will continue to achieve great success from an investment returns, operating performance, guest satisfaction, employee culture and charitable activities perspective. Our success is a direct result of the resounding commitments from our employees, investors, brands, financial partners and guests. We will expand our platform and build upon our success in the years to come."
HEI Hotels & Resorts, headquartered in Norwalk, Connecticut with 44 properties in 16 states, creates socially responsible investment and employment opportunities through real estate portfolios of hotels and resorts throughout the United States under such well-known brand names as Marriott, Sheraton, Westin, Le Meridien, Embassy Suites, and Hilton. HEI takes a holistic approach to creating value for its investors and employees by setting the highest standards across all aspects of hotel management and operation and focusing on the central principles of excellence and continuous improvement. HEI prides itself on some of the highest employee satisfaction scores in the hospitality industry, fuels local economic prosperity by investing in communities and is committed to environmental stewardship and sustainability. Over the past decade, the company invested in the construction of three new hotels that created almost 800 local jobs, and purchased several troubled hotels that preserved jobs and created economic enrichment to local communities. For more information about HEI, visit the company's website, www.heihotels.com.
SOURCE HEI Hotels & Resorts
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