Williams to Step Down from DiamondRock
Monday February 11th, 2013 - 10:02AM H
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BETHESDA, MD—John L. Williams, president/COO of DiamondRock Hospitality Co., will step down from his post this spring, retiring from the company effective May 1.
DiamondRock CEO Mark Brugger said the 30-year industry veteran, who helped found the company in 2004, "has been instrumental in building DiamondRock into one of the leading public lodging real estate companies. With his strong real estate skills and extensive lodging experience, John helped assemble our current world-class hotel portfolio, concentrated in many of the most desirable markets in the United States. Moreover, he has helped mentor and develop talented asset managers and investment specialists to position the company for future growth. We expect to execute a smooth transition and are confident in the plans we have in place to drive shareholder value."
The lodging REIT, which owns 27 hotels representing approximately 11,500 rooms, has hired Ferguson Partners to conduct a search for a successor to Williams.
Tags: • Hospitality • Ownership •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.