Two hospitality companies are getting new leadership.
American Hotel Income Properties
Investment company American Hotel Income Properties has appointed Jonathan Korol as its new CEO effective Oct. 7.
Korol comes to his new role from SilverBirch Hotels & Resorts, where he has been president since February 2017. At SilverBirch, he oversaw one of Canada's largest hotel owner/operators with a portfolio of close to 5,000 guestrooms operated under internationally recognized brands. Before becoming president, he led SilverBirch's investment and portfolio management team as SVP, where he managed all of the firm's acquisition, disposition, development and asset-management activities. Before joining SilverBirch, Korol co-founded Amadeus Property Partners, a private real estate investment fund focused on investing in select-service hotels and retail and multifamily properties in gateway markets throughout North America. He spent the formative part of his career at Apollo Real Estate Advisors (now Ares Management), where he was a VP focusing on equity and debt investing in all property types. Korol started his professional career as an investment banker with Merrill Lynch. He holds a B.Comm from the University of British Columbia and an MBA from the University of Pennsylvania's Wharton School.
Michael Murphy, chair of AHIP's Board of Directors, said the appointment was unanimously supported by the board. “We believe that his appointment will accelerate the execution of the next chapter of AHIP's strategic plan.”
As CEO, Korol will lead the executive team at AHIP and will work with the board to refine and fulfill AHIP's strategic plan. Korol will also oversee and work with AHIP's internal asset management and corporate finance teams to maximize the performance of AHIP's existing portfolio and identify suitable M&A and capital recycling strategies to ensure AHIP maintains an optimal mix of properties and capital to drive strong long-term value for AHIP's unitholders. Korol will be based in Vancouver, but will travel frequently to review AHIP's portfolio and to meet with key partners as well as investors.
“I look forward to working with the board and management team on the next exciting phase of AHIP's evolution," Korol said. “I believe that AHIP's hotel portfolio, with its focus on premium branded select-service hotels in secondary ‘drive to’ markets, is among the best positioned North American hospitality platforms to withstand and quickly recover from the ongoing impacts of the COVID-19 pandemic.”
Korol will succeed John O'Neill, one of AHIP's co-founders, who has been CEO since October 2018 and who has advised the board of his retirement.
Interstate Hotels & Resorts
Interstate Hotels & Resorts, Aimbridge Hospitality’s international division, has expanded its senior management team with the appointment of Jean-Charles Denis to the role of COO.
Denis joins Interstate from IHG, where he held a variety of senior positions including director of operations, VP commercial and VP finance.
Having been an owner and operator of his own portfolio of hotels, Denis brings a unique perspective to the newly created role, overseeing operations across all of Interstate’s 96 hotels in the U.K., Ireland, Europe and Russia.
Nicholas Northam, EVP international for Interstate Hotels & Resorts, cited Denis’ experience in the industry as both an owner and in senior positions within IHG as positive attributes.
“It’s fantastic to join the team at Interstate Hotels & Resorts and to be a part of the world’s leading hotel management company, responsible for the operations of all our hotels across the U.K., Ireland, Europe and Russia,” Denis said. “My appointment comes at what is a truly challenging time for our industry, but I’m looking forward to working with the international team and drawing on my own experience both at IHG and as a hotel owner and operator myself.”
Interstate Hotels & Resorts was acquired by Aimbridge Hospitality in October 2019.