ARLINGTON, VIRGINIA Interstate Hotels & Resorts has named Martin Reid executive vice president of development and acquisitions.
Reid joins Interstate from Cheswold Real Estate Investment Management, where he was a founding partner in charge of acquisitions and responsible for investment strategy and management of the firm, including extensive capital raising activities. He was previously managing director of capital markets for Thayer Lodging Group, where he led investment and financial activities for five investment vehicles with 37 hotels. He also was a general partner member of new funds formed and served as chief financial officer and chief investment officer, managing lender relationship activities, acquisition, disposition, financings and refinancing of approximately US$3 billion in hotel assets.
Reid will focus on sourcing and acquiring hotels in concert with Interstate’s roster of equity partners and on identifying management contract opportunities, in addition to managing the company’s relationships with financial and institutional fund managers, hotel franchise companies, hotel owners and real estate brokers. Reid will report to Leslie Ng, Interstate’s chief investment officer.
“The hotel real estate transaction market is continuing to rebound, creating acquisition and new management contract opportunities,” Ng says. “Marty Reid will help position us to take full advantage of the opportunities we see ahead as the economy and industry move into recovery mode. Marty is a highly regarded industry professional who brings a proven track record and exceptional industry relationships to the company. With his more than 30 years of domestic and international hotel real estate investment experience, he will be pivotal to our company’s growth going forward.”
Reid earned a master’s of business administration in financial management from Pace University and a bachelor of science degree in accounting from State University of New York at Albany. A trustee of CB Richard Ellis Realty Trust, Reid is a full member of the Urban Land Institute and Hotel Development Council, a member of the Pension Real Estate Association and AICPA, and a past member of the Niagara University New York City Council.