Westcoast Hospitality (NYSE:WEH)
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WestCoast Hospitality Corporation Announces the Hiring of Top
Hospitality Industry Executive, Anupam Narayan, as Executive Vice President
SPOKANE, Wash., Nov. 22 /PRNewswire-FirstCall/ -- WestCoast Hospitality
Corporation (NYSE:WEH) today announced that it has hired Anupam Narayan as its
Executive Vice President, Chief Investment Officer. Mr. Narayan has nearly 25
years of experience in the hospitality industry, chiefly in executive,
strategic and financial positions. From 1998 to March 2004, he served in
various capacities as an executive officer of Best Western International Inc.,
including his most recent position as Senior Vice President, Global Brand
Management and Chief Financial Officer and a three- month period as Acting
President and Chief Executive Officer during 2002. From 1985 to 1998, Mr.
Narayan was employed by Doubletree Corporation and Red Lion Hotels, Inc.,
serving as Senior Vice President and Treasurer immediately prior to his move to
Best Western.
Arthur Coffey, President and Chief Executive Officer of WestCoast Hospitality
Corporation, said, "We are absolutely delighted to have Anupam join our
executive team. He brings with him an outstanding professional reputation and
an extensive background in the hospitality industry. His previous experience
with our Red Lion brand will give him an immediate ability to positively
influence our strategy and operations."
Mr. Narayan will also be appointed to the position of Chief Financial Officer
being vacated by Peter Hausback, who is leaving the company to pursue other
opportunities. Mr. Hausback has agreed to remain with the company through
January 15, 2005, to facilitate a smooth transition. "Peter has provided key
oversight of the company's financial and accounting operations since I became
CEO in early 2003," said Mr. Coffey. "He will be missed and we wish him the
best in his new endeavors."
Mr. Narayan's hire makes him the latest of several talented executives to join
WestCoast Hospitality Corporation's senior team over the last 14 months. In
August 2004, Anthony Dombrowik, the company's principal accounting officer, was
promoted to Vice President, Corporate Controller. In April 2004, hospitality
industry veteran William Heaney joined the company as Vice President, Sales.
Thomas McKeirnan was promoted to Vice President, General Counsel in January
2004, and long-time operating officer John Taffin re-joined the company as
Executive Vice President, Hotel Operations in September 2003.
"I am excited to be able to join WestCoast Hospitality Corporation during a
time of so much opportunity," said Mr. Narayan. "The company has assembled a
highly knowledgeable and dynamic management team. I am very much looking
forward to working with my new colleagues to promote the company's growth and
build the company's shareholder value through maximizing the return on all the
company's assets, including its Red Lion brand."
WestCoast Hospitality Corporation is a hospitality and leisure company
primarily engaged in the ownership, management, development and franchising of
mid-scale, full service hotels under its WestCoast(R) and Red Lion(R) brands.
In addition, through its entertainment division, which includes its
TicketsWest.com, Inc. subsidiary, it engages in event ticket distribution and
promotes and presents a variety of entertainment productions. G&B Real Estate
Services, its real estate division, engages in traditional real estate-related
services, including developing, managing and brokering sales and leases of
commercial and multi-unit residential properties.
This press release contains forward-looking statements within the meaning of
federal securities law, including statements concerning plans, objectives,
goals, strategies, projections of future events or performance and underlying
assumptions (many of which are based, in turn upon further assumptions). The
forward-looking statements in this press release are inherently subject to a
variety of risks and uncertainties that could cause actual results to differ
materially from those expressed. Such risks and uncertainties include, among
others, matters discussed in the company's annual report on Form 10-K for the
2003 fiscal year and in other documents filed by the company with the
Securities and Exchange Commission.
Contact: Julie Langenheim
Title: Executive Services and Investor Relations Manager
Phone: 1-509-459-6100
Internet:
http://www.westcoasthotels.com/
http://www.ticketswest.com/
http://www.redlion.com/
http://www.g-b.com/
DATASOURCE: WestCoast Hospitality Corporation
CONTACT: Julie Langenheim, Executive Services and Investor Relations
Manager of WestCoast Hospitality Corporation, +1-509-459-6100 or
Web site: http://www.westcoasthotels.com/